Contemporary Duplex
New
For Sale
$650,000
3402 Nathaniel Brown St A/B, Houston, TX 77021
Two-unit residential income property with contemporary layouts and the flexibility to occupy one unit while renting the other.
Property Size3,714 SF
Lot Size5,000.00 Acres
Price / SF$175.20
Days on Market4
Property Features for 3402 Nathaniel Brown St A/B
General Information
Standard status
Active
Size
3,714 SF
Lot size
5,000.00 Acres
Property subtype
Investment
Lease Term
12 months
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,778
Building Details
Building Size
3,714 SF
Year Built
2023
Buildings
1
Stories
2
Units
2
Construction
modern
Listing Agency:
Collective Realty Co.
(619) 386-6961
Listed By:
Veronica Merritt
(619) 386-6961
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 8:19AM
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 Collective Realty Co.
Investment Insights
Based on property information with market context.
Completed in 2023, this Houston duplex contains 3,710 square feet of living space on a 5,000-square-foot lot. The property includes two residential units with modern, functional layouts suited to separate household use. Its configuration also allows an owner to live in one unit while generating rental income from the other.
The address is 3402 Nathaniel Brown St A/B in Houston, with access to Downtown Houston, the Texas Medical Center, the University of Houston, Texas Southern University, major highways, shopping, dining, and entertainment. The surrounding area is rated Car-Dependent, with Some Transit and Somewhat Bikeable scores reflected in the property information.
The address is 3402 Nathaniel Brown St A/B in Houston, with access to Downtown Houston, the Texas Medical Center, the University of Houston, Texas Southern University, major highways, shopping, dining, and entertainment. The surrounding area is rated Car-Dependent, with Some Transit and Somewhat Bikeable scores reflected in the property information.
Key Highlights
- Duplex completed in 2023
- 3,710 square feet of living space
- 5,000‑square‑foot lot
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
$48,592
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
7.48%
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%
$971,840
$971.8K
Cap Rate 7%
$694,171
$694.2K
Cap Rate 9%
$539,911
$539.9K
Market Conditions
NOI Build-Up for 3,710 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
$69.4K $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%
$971,840
Cap Rate 7%
$694,171
Cap Rate 9%
$539,911
Alternative Uses
Best Use
Multifamily LT 5
$694.2K
$607.4K – $809.9K
NOI $48,592 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$600.4K
$525.4K – $700.5K
NOI $42,031 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$954.0K
$834.8K – $1.11M
NOI $66,780 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with contemporary layouts and the flexibility to occupy one unit while renting the other.
Where is this duplex located?
The property is located at 3402 Nathaniel Brown St A/B Houston, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex completed in 2023; 3,710 square feet of living space; 5,000‑square‑foot lot
