Furnished Duplex-Style
New
For Sale
$398,000
3537 Mt Pleasant Street, Houston, TX 77021
Separate private suite, dual kitchens, and included furnishings support flexible owner-occupant and rental use.
Property Size1,838 SF
Price / SF$216.54
Days on Market6
Property Features for 3537 Mt Pleasant Street
General Information
Standard status
Active
Size
1,838 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,667
Amenities
Bluetooth enabled ceiling speakers
Internet
Alarm
dual laundry connections
Plank,Tile,Vinyl
Dining Room,Entry/Foyer,Game Room,Guest Quarters,Living Room,Utility Room,Half Bath,Sitting Room
1
Yes
4
No
3
Washer Hookup,Electric Dryer Hookup
Builder
Crown Molding,Double Vanity,Entrance Foyer,En Suite Bathroom,High Ceilings,Kitchen Island,Kitchen/Family Room Combo,Bath in Primary Bedroom,Main Level Primary,Multiple Primary Suites,Multiple Staircases,Pantry,Quartz Counters,Sitting Area in Primary,Split Bedrooms,Soaking Tub,Separate Shower,Upper Level Primary,Walk-In Pantry,Walk-In Closet(s),Wired for Sound
Back Yard
Subdivision,Side Yard
Public
2500
0.0574
Appraiser
Asphalt
Deck,Fence,Paved Driveway,Porch,Patio,Private Yard
Slab
1838
Building Details
Building Size
1,838 SF
Year Built
2022
Buildings
1
Stories
2
Listing Agency:
eXp Realty, LLC
(281) 444-5140
Listed By:
Kim Kluge
(832) 289-8676
Source:
Garygreene
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 3:52AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2022, this 1,838-square-foot duplex-style home combines a primary residence with a separate first-floor studio suite. The property includes 3 bedrooms, 3.5 bathrooms, 2 full kitchens, 2 refrigerators, 2 dishwashers, 2 microwaves, and dual laundry connections. The private suite has its own entrance, full kitchen, bathroom with dual sinks, walk-in closet, laundry setup, and sound-enabled ceiling speakers. The main home includes multiple primary suites, quartz counters, a kitchen island, pantry space, high ceilings, and a combination kitchen and family room. Furniture, televisions, appliances, kitchenware, bedding, and accessories are included.
Located at 3537 Mt Pleasant Street in Houston, the property is 2.5 miles from the Texas Medical Center and near Downtown, NRG, universities, the Houston Zoo, museum and theater districts, and parks. Additional features include a fenced private yard, deck, porch, patio, paved driveway, crown molding, and wired-for-sound functionality.
Located at 3537 Mt Pleasant Street in Houston, the property is 2.5 miles from the Texas Medical Center and near Downtown, NRG, universities, the Houston Zoo, museum and theater districts, and parks. Additional features include a fenced private yard, deck, porch, patio, paved driveway, crown molding, and wired-for-sound functionality.
Key Highlights
- 2022‑built duplex‑style home with 1,838 square feet
- 3 bedrooms and 3.5 bathrooms
- 2 full kitchens, 2 refrigerators, 2 dishwashers, and 2 microwaves
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
$24,074
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
6.05%
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%
$481,480
$481.5K
Cap Rate 7%
$343,914
$343.9K
Cap Rate 9%
$267,489
$267.5K
Market Conditions
NOI Build-Up for 1,838 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
$36.4K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$34.4K $18.71/SF
− OpEx
−$10.3K −$5.61/SF
NOI
$24.1K $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%
$481,480
Cap Rate 7%
$343,914
Cap Rate 9%
$267,489
Alternative Uses
Best Use
Multifamily LT 5
$343.9K
$300.9K – $401.2K
NOI $24,074 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$297.5K
$260.3K – $347.1K
NOI $20,823 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$472.6K
$413.6K – $551.4K
NOI $33,084 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
427
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate private suite, dual kitchens, and included furnishings support flexible owner-occupant and rental use.
Where is this duplex located?
The property is located at 3537 Mt Pleasant Street Houston, TX.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: 2022‑built duplex‑style home with 1,838 square feet; 3 bedrooms and 3.5 bathrooms; 2 full kitchens, 2 refrigerators, 2 dishwashers, and 2 microwaves
