Newly Built
New
For Sale
$610,000
3402 Nathaniel Brown Street, Houston, TX 77021
Completed in 2024, this Houston property offers two residential units on a 5,000-square-foot lot.
Property Size3,714 SF
Price / SF$164.24
Days on Market2
Property Features for 3402 Nathaniel Brown Street
General Information
Standard status
Active
Size
3,714 SF
Property subtype
Multi-Family
Building Details
Year Built
2024
Listing Agency:
Lpt Realty, LLC
Listed By:
Castle Team
(346) 644-6879
Source:
Castleteam
Added: Sep 30
Last Checked: Oct 1 at 11:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lpt Realty, LLC
Investment Insights
Based on property information with market context.
This duplex was completed in 2024 and sits on a 5,000-square-foot lot in Houston. Its two-unit configuration supports separate residential occupancy.
The property has access to Downtown Houston, the Texas Medical Center, the University of Houston, Texas Southern University, and major highways.
The property has access to Downtown Houston, the Texas Medical Center, the University of Houston, Texas Southern University, and major highways.
Key Highlights
- Two‑unit duplex completed in 2024
- 5,000‑square‑foot lot in Houston
- Access to Downtown Houston, the Texas Medical Center, the University of Houston, and Texas Southern University
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,645
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$972,900
$972.9K
Cap Rate 7%
$694,929
$694.9K
Cap Rate 9%
$540,500
$540.5K
Market Conditions
NOI Build-Up for 3,714 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$73.5K $19.80/SF
− Vacancy
−$4.0K −$1.09/SF
EGI
$69.5K $18.71/SF
− OpEx
−$20.8K −$5.61/SF
NOI
$48.6K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$972,900
Cap Rate 7%
$694,929
Cap Rate 9%
$540,500
Alternative Uses
Best Use
Multifamily LT 5
$694.9K
$608.1K – $810.8K
NOI $48,645 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$601.1K
$526.0K – $701.3K
NOI $42,077 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$955.0K
$835.7K – $1.11M
NOI $66,852 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 77021, TX
28,055
Population
12,819
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,599
Density / Sq Mi
$45,034
Median Household Income
$38,041
Median Earnings
$1,193
Median Rent
$203,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Completed in 2024, this Houston property offers two residential units on a 5,000-square-foot lot.
Where is this duplex located?
The property is located at 3402 Nathaniel Brown Street Houston, TX.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2024; 5,000‑square‑foot lot in Houston; Access to Downtown Houston, the Texas Medical Center, the University of Houston, and Texas Southern University
