New Duplex with Private
New
For Sale
$625,500
3704 Mount Pleasant St A/B, Houston, TX 77021
Two newly built residences offer private outdoor areas and gated access near major Houston employment and education centers.
Property Size3,490 SF
Days on Market6
Property Features for 3704 Mount Pleasant St A/B
General Information
Standard status
Active
Size
3,490 SF
Property subtype
Investment
Building Details
Building Size
3,490 SF
Year Built
2026
Stories
2
Units
1
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 24 at 8:50AM
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 Nextgen Real Estate Properties
Investment Insights
Based on property information with market context.
This 2026 duplex at 3704 Mount Pleasant St A/B in Houston contains two residences, each with 3 bedrooms, 2.5 baths, and a private garage. The interiors include high ceilings, oversized windows, a modern fireplace, and kitchens with wood cabinetry and waterfall islands. Primary suites feature freestanding soaking tubs, large glass showers, dual floating vanities, and walk-in closets, while the secondary baths continue the upgraded design approach.
The property is near the Texas Medical Center, Downtown Houston, and major educational and employment hubs. Both residences include private outdoor space, and the property is gated. It has never been occupied and carries no HOA. Live in one residence while leasing the other, or lease both as a two-unit rental property.
The property is near the Texas Medical Center, Downtown Houston, and major educational and employment hubs. Both residences include private outdoor space, and the property is gated. It has never been occupied and carries no HOA. Live in one residence while leasing the other, or lease both as a two-unit rental property.
Key Highlights
- Two‑residence duplex completed in 2026
- Each unit includes 3 bedrooms, 2.5 baths, and a private garage
- High ceilings, oversized windows, modern fireplaces, and waterfall‑island kitchens
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
$45,711
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
7.31%
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%
$914,220
$914.2K
Cap Rate 7%
$653,014
$653.0K
Cap Rate 9%
$507,900
$507.9K
Market Conditions
NOI Build-Up for 3,490 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
$69.1K $19.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$65.3K $18.71/SF
− OpEx
−$19.6K −$5.61/SF
NOI
$45.7K $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%
$914,220
Cap Rate 7%
$653,014
Cap Rate 9%
$507,900
Alternative Uses
Best Use
Multifamily LT 5
$653.0K
$571.4K – $761.9K
NOI $45,711 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$564.8K
$494.2K – $659.0K
NOI $39,539 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$897.4K
$785.3K – $1.05M
NOI $62,820 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
400
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 newly built residences offer private outdoor areas and gated access near major Houston employment and education centers.
Where is this duplex located?
The property is located at 3704 Mount Pleasant St A/B Houston, TX.
What is the asking price?
The asking price for this property is $625,500.
What are key features of this property?
This property features: Two‑residence duplex completed in 2026; Each unit includes 3 bedrooms, 2.5 baths, and a private garage; High ceilings, oversized windows, modern fireplaces, and waterfall‑island kitchens
