Duplex with Open-Concept
New
For Sale
$650,000
3834 Mount Pleasant St, Houston, TX 77021
Two-story units feature high ceilings, contemporary finishes, custom cabinetry, and stainless steel appliances.
Property Size3,000 SF
Days on Market4
Property Features for 3834 Mount Pleasant St
General Information
Standard status
Active
Size
3,000 SF
Elevators
No
Property subtype
Investment
Site & Location
Highway Access
No
Road Access
No
Public Transit
No
Utilities to Site
No
Additional Details
Furnished
No
Opportunity Zone
No
Sprinkler System
No
Taxes and HOA fees
Annual Taxes
$2,511
Building Details
Building Size
3,000 SF
Year Built
2026
Stories
2
Units
1
Abandoned
No
Listing Agency:
(832) 444-9291
Listed By:
Rashad Ajalov
(832) 444-9291
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 11:56AM
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 Rashad Ajalov
Investment Insights
Based on property information with market context.
This duplex is a 2026 new-construction property currently in progress, with estimated completion at the end of July. The residences are planned with open living areas, elevated ceilings, abundant natural light, and contemporary interior finishes. Kitchens are designed with custom cabinetry, stainless steel appliances, and ample workspace. Each layout includes upstairs bedrooms and bathrooms, with a primary suite featuring a spa-inspired bath.
Located at 3834 Mount Pleasant St in Houston, the property has a Walk Score of 58, categorized as Somewhat Walkable, a Bike Score of 53, and a Transit Score of 41, indicating Some Transit. Images provided for the project are from a comparable completed build and represent the builder’s typical finishes and layout.
Located at 3834 Mount Pleasant St in Houston, the property has a Walk Score of 58, categorized as Somewhat Walkable, a Bike Score of 53, and a Transit Score of 41, indicating Some Transit. Images provided for the project are from a comparable completed build and represent the builder’s typical finishes and layout.
Key Highlights
- Duplex under construction with estimated completion at end July
- YearBuilt: 2026
- Open‑concept layouts with high ceilings and strong natural light
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
$39,293
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%
$785,860
$785.9K
Cap Rate 7%
$561,329
$561.3K
Cap Rate 9%
$436,589
$436.6K
Market Conditions
NOI Build-Up for 3,000 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
$59.4K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$56.1K $18.71/SF
− OpEx
−$16.8K −$5.61/SF
NOI
$39.3K $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%
$785,860
Cap Rate 7%
$561,329
Cap Rate 9%
$436,589
Alternative Uses
Best Use
Multifamily LT 5
$561.3K
$491.2K – $654.9K
NOI $39,293 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$485.5K
$424.8K – $566.5K
NOI $33,987 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
392
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-story units feature high ceilings, contemporary finishes, custom cabinetry, and stainless steel appliances.
Where is this duplex located?
The property is located at 3834 Mount Pleasant St Houston, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex under construction with estimated completion at end July; YearBuilt: 2026; Open‑concept layouts with high ceilings and strong natural light
