Brand New Duplex With Private
For Sale
$450,000
3708 Glenrose Street AB, Houston, TX 77051
Newly constructed duplex includes two units with private driveway access, fully fenced backyards, and no-carpet interiors.
Property Size1,800 SF
Price / SF$250
Days on Market54
Property Features for 3708 Glenrose Street AB
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Amenities
Plank,Vinyl
Yes
2
Washer Hookup,Dryer Hookup
Builder
Quartz Counters,Ceiling Fan(s)
Other
2750
Two
1800
Building Details
Building Size
1,800 SF
Year Built
2026
Stories
2
Tenancy
Multi
Listing Agency:
Annoura Realty Group, LLC
(713) 961-1722
Listed By:
Randall Custer
(713) 494-6576
Source:
Garygreene
Added: Jul 15
Changed: Sep 5
Last Checked: Sep 6 at 5:24AM
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 Annoura Realty Group, LLC
Investment Insights
Based on property information with market context.
This brand new duplex offers two separate units designed for modern, low-maintenance living. Each unit includes two bedrooms and 2.5 bathrooms, with an open-concept first-floor layout featuring a living room, contemporary kitchen, laundry area, and a convenient half bath. Upstairs, both bedrooms have private full bathrooms, and every bedroom includes a ceiling fan. Both units feature fully fenced private backyards and no carpeting throughout.
The property is located minutes from the Texas Medical Center with quick access to Downtown Houston and the Museum District, including nearby destinations such as Hermann Park and NRG Stadium. Major routes listed include Hwy 288, Loop 610, and I-45.
Each unit is configured with private driveway access, fully fenced backyard space, and upstairs private bedroom bathrooms, creating two distinct, turnkey residences within a single duplex building.
The property is located minutes from the Texas Medical Center with quick access to Downtown Houston and the Museum District, including nearby destinations such as Hermann Park and NRG Stadium. Major routes listed include Hwy 288, Loop 610, and I-45.
Each unit is configured with private driveway access, fully fenced backyard space, and upstairs private bedroom bathrooms, creating two distinct, turnkey residences within a single duplex building.
Key Highlights
- Brand new duplex built in 2026 with two units, each offering 2 bedrooms and 2.5 bathrooms
- Each unit has a private driveway and a fully fenced private backyard
- Open‑concept first floor includes living room, contemporary kitchen, laundry area, and a convenient half bath
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
$23,576
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
5.24%
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%
$471,520
$471.5K
Cap Rate 7%
$336,800
$336.8K
Cap Rate 9%
$261,956
$262.0K
Market Conditions
NOI Build-Up for 1,800 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
$35.6K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$33.7K $18.71/SF
− OpEx
−$10.1K −$5.61/SF
NOI
$23.6K $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%
$471,520
Cap Rate 7%
$336,800
Cap Rate 9%
$261,956
Alternative Uses
Best Use
Multifamily LT 5
$336.8K
$294.7K – $392.9K
NOI $23,576 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$462.9K
$405.0K – $540.0K
NOI $32,400 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 77051, TX
18,323
Population
7,453
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
78%
High-School Grad
7.4 sq mi
ZIP Area
2,476
Density / Sq Mi
$40,030
Median Household Income
$31,914
Median Earnings
$1,332
Median Rent
$171,900
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 - Newly constructed duplex includes two units with private driveway access, fully fenced backyards, and no-carpet interiors.
Where is this duplex located?
The property is located at 3708 Glenrose Street AB Houston, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Brand new duplex built in 2026 with two units, each offering 2 bedrooms and 2.5 bathrooms; Each unit has a private driveway and a fully fenced private backyard; Open‑concept first floor includes living room, contemporary kitchen, laundry area, and a convenient half bath
