New Construction
For Sale
Contact for pricing
3708 Glenrose Street #AB, Houston, TX 77051
Two units provide private driveways, fenced backyards, and low-maintenance no-carpet interiors.
Property Size1,800 SF
Price / SF$244.44
Days on Market24
Property Features for 3708 Glenrose Street #AB
General Information
Standard status
Active
Size
1,800 SF
Class
B
Property subtype
Multifamily
Zoning
Multifamily Duplex
Investment Type
Value Add
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private driveway
fenced backyards
laundry area
ceiling fans
Building Details
Year Built
2026
Buildings
1
Stories
2
Units
2
Listing Agency:
NetWorth Builders
Listed By:
ADEWALE LAWAL · License #TX 736740
Source:
Crexi
Added: Aug 1
Changed: Aug 16
Last Checked: Aug 24 at 8:18AM
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 NetWorth Builders
Investment Insights
Based on property information with market context.
Built in 2026, this 1,800-square-foot duplex includes two units, each with 2 bedrooms and 2.5 bathrooms. Both residences feature an open first-floor arrangement with a living room, contemporary kitchen, laundry area, and half bath, while each upstairs bedroom has its own full bathroom. Private driveways and fully fenced backyards serve the individual units. Ceiling fans are included in every bedroom, and the interiors have no carpet. The property is zoned Multifamily Duplex.
Located at 3708 Glenrose Street #AB in Houston, the property offers access to the Texas Medical Center, Downtown Houston, the Museum District, Hermann Park, NRG Stadium, and the University of Houston. Major highway connections include Hwy 288, Loop 610, and I-45.
Located at 3708 Glenrose Street #AB in Houston, the property offers access to the Texas Medical Center, Downtown Houston, the Museum District, Hermann Park, NRG Stadium, and the University of Houston. Major highway connections include Hwy 288, Loop 610, and I-45.
Key Highlights
- 2026 construction with 1,800 square feet
- Two units, each with 2 bedrooms and 2.5 bathrooms
- Private driveway and fully fenced backyard for each unit
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
5.36%
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 5.36%
Second Best
Apartment 5plus
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$462.9K
$405.0K – $540.0K
NOI $32,400 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two units provide private driveways, fenced backyards, and low-maintenance 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 $440,000.
What are key features of this property?
This property features: 2026 construction with 1,800 square feet; Two units, each with 2 bedrooms and 2.5 bathrooms; Private driveway and fully fenced backyard for each unit
