Two-Unit Duplex with Fenced
For Sale
$179,900
3409 Providence Street, Houston, TX 77020
Two separate residences include kitchens, utility rooms, and private back porches.
Property Size1,410 SF
Price / SF$127.59
Days on Market47
Property Features for 3409 Providence Street
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,905
Amenities
private back porches
shared fenced backyard
Yes
2
Appraiser
5000
1410
Building Details
Building Size
1,410 SF
Year Built
1930
Stories
1
Listing Agency:
Braden Real Estate Group
(832) 722-6282
Listed By:
Sheri Myers Brudner
(832) 722-6282
Source:
Garygreene
Added: Jun 23
Changed: Aug 5
Last Checked: Aug 7 at 12:44AM
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 Braden Real Estate Group
Investment Insights
Based on property information with market context.
This duplex contains two distinct residences, each arranged with two bedrooms, two full bathrooms, a living room, kitchen, and utility room. Private rear porches extend the usable living space, while a shared fenced backyard provides a defined outdoor area for both units. The property measures 1,410 square feet and was built in 1930.
Located at 3409 Providence Street in Houston, the property offers a two-unit configuration with consistent layouts across both residences. Its combination of private porches, shared outdoor space, and separate household interiors supports residential occupancy within a single duplex property.
Located at 3409 Providence Street in Houston, the property offers a two-unit configuration with consistent layouts across both residences. Its combination of private porches, shared outdoor space, and separate household interiors supports residential occupancy within a single duplex property.
Key Highlights
- Two‑unit duplex with 1,410 square feet
- Each unit includes 2 bedrooms and 2 full bathrooms
- Living room, kitchen, and utility room in each residence
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
$15,974
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
8.88%
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%
$319,480
$319.5K
Cap Rate 7%
$228,200
$228.2K
Cap Rate 9%
$177,489
$177.5K
Market Conditions
NOI Build-Up for 1,410 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
$31.0K $21.96/SF
− Vacancy
−$1.9K −$1.36/SF
EGI
$29.0K $20.60/SF
− OpEx
−$13.1K −$9.27/SF
NOI
$16.0K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$319,480
Cap Rate 7%
$228,200
Cap Rate 9%
$177,489
Alternative Uses
Best Use
Multifamily LT 5
$263.8K
$230.9K – $307.8K
NOI $18,468 @ 7.0% cap · market cap 10.27%
Second Best
Apartment 5plus
$228.2K
$199.7K – $266.2K
NOI $15,974 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$362.6K
$317.3K – $423.0K
NOI $25,380 @ 7.0% cap · market cap 14.11%
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
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
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 separate residences include kitchens, utility rooms, and private back porches.
Where is this duplex located?
The property is located at 3409 Providence Street Houston, TX.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,410 square feet; Each unit includes 2 bedrooms and 2 full bathrooms; Living room, kitchen, and utility room in each residence
