Brand New Duplex with Separate
For Sale
$540,000
3406 Lydia Street, Houston, TX 77021
New construction duplex with two 3-bedroom, 2-bath units, each with its own utilities and no HOA.
Property Size2,803 SF
Days on Market35
Property Features for 3406 Lydia Street
General Information
Standard status
Active
Size
2,803 SF
Property subtype
Multi Family,Duplex
Additional Details
Clear Height
15 ft
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,231
Building Details
Building Size
2,803 SF
Year Built
2026
Listing Agency:
Real Broker, LLC
(713) 551-1842
Listed By:
Jemila Winsey
(713) 551-1842
Source:
Nancyalmodovar
Added: Jul 21
Changed: Aug 23
Last Checked: Aug 24 at 12:56PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Brand new duplex construction, never lived in, designed as two complete units. Each side offers three bedrooms and two bathrooms. The layout includes 15-foot ceilings and finishes such as floor-to-ceiling European-style cabinetry, quartz countertops, wide plank LVP flooring, and designer tile bathrooms with oak accent walls. Both units also feature his-and-hers vanities, custom TV walls, and walk-in closets with custom shelving.
Each unit runs on its own utilities, supporting independent occupancy or rental. The property is listed as having no HOA and includes a builder warranty. Completion is estimated for July 31, 2026.
The remark also notes smart-home features including smart thermostats, energy-efficient windows, fiberglass insulation, and a roof with a 300-square-foot solar-ready zone. Location is described as approximately 5 minutes from the Texas Medical Center.
Each unit runs on its own utilities, supporting independent occupancy or rental. The property is listed as having no HOA and includes a builder warranty. Completion is estimated for July 31, 2026.
The remark also notes smart-home features including smart thermostats, energy-efficient windows, fiberglass insulation, and a roof with a 300-square-foot solar-ready zone. Location is described as approximately 5 minutes from the Texas Medical Center.
Key Highlights
- New construction duplex (Year Built 2026) with two 3 bed, 2 bath units—each unit has its own utilities.
- Each unit features designer tile bathrooms, his‑and‑hers vanities, oak accent walls, and walk‑in closets with custom shelving.
- 15‑ft ceilings and quartz countertops; wide plank LVP flooring throughout both units.
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
$36,713
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
6.80%
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%
$734,260
$734.3K
Cap Rate 7%
$524,471
$524.5K
Cap Rate 9%
$407,922
$407.9K
Market Conditions
NOI Build-Up for 2,803 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
$55.5K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$52.4K $18.71/SF
− OpEx
−$15.7K −$5.61/SF
NOI
$36.7K $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%
$734,260
Cap Rate 7%
$524,471
Cap Rate 9%
$407,922
Alternative Uses
Best Use
Multifamily LT 5
$524.5K
$458.9K – $611.9K
NOI $36,713 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$453.7K
$397.0K – $529.3K
NOI $31,756 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$720.8K
$630.7K – $840.9K
NOI $50,454 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
2
Residential units
Location Intelligence
Trade Area within ½ mile
429
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 - New construction duplex with two 3-bedroom, 2-bath units, each with its own utilities and no HOA.
Where is this duplex located?
The property is located at 3406 Lydia Street Houston, TX.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: New construction duplex (Year Built 2026) with two 3 bed, 2 bath units—each unit has its own utilities.; Each unit features designer tile bathrooms, his‑and‑hers vanities, oak accent walls, and walk‑in closets with custom shelving.; 15‑ft ceilings and quartz countertops; wide plank LVP flooring throughout both units.
