Renovated Home Near Westpark
For Sale
$209,000
3842 Westmeadow Drive, Houston, TX 77082
Stylishly renovated 3-bedroom, 2-bath home with modern upgrades.
Property Size1,210 SF
Lot Size0.11 Acres
Days on Market207
Property Features for 3842 Westmeadow Drive
General Information
Standard status
Active
Size
1,210 SF
Lot size
0.11 Acres
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$249
Amenities
Fireplace
Central Air
Electric
Central
Dishwasher
Electric Oven
Electric Range
Free-Standing Range
Disposal
Oven
Composition
Building Details
Building Size
1,210 SF
Year Built
1983
Stories
1
Listing Agency:
KELLER WILLIAMS MEMORIAL
(346) 232-8946
Listed By:
Arash Asgharian · License #731392
(346) 232-8946
Source:
Kw
Added: Feb 6
Changed: Aug 31
Last Checked: Aug 31 at 1:09AM
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 KELLER WILLIAMS MEMORIAL
Investment Insights
Based on property information with market context.
This is a renovated home featuring three bedrooms and two bathrooms. The property has been updated with a new roof, updated siding, fresh paint inside and out, new flooring, energy-efficient windows, and brand-new doors. The kitchen has been redesigned with sleek cabinets, contemporary countertops, and new appliances. Both bathrooms have updated finishes. Foundation repairs have been completed and come with a lifetime transferable warranty. The property is located near Westpark Tollway, within walking distance to Rees Elementary, and close to a neighborhood park and trails. It is move-in-ready.
Key Highlights
- Foundation repairs completed with a lifetime transferable warranty.
- Stylishly renovated with modern upgrades throughout, including a redesigned kitchen and updated bathrooms.**
- New roof, updated siding, fresh paint, new flooring, energy‑efficient windows, and brand‑new doors.
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
$15,848
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
7.58%
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%
$316,960
$317.0K
Cap Rate 7%
$226,400
$226.4K
Cap Rate 9%
$176,089
$176.1K
Market Conditions
NOI Build-Up for 1,210 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
$24.0K $19.80/SF
− Vacancy
−$1.3K −$1.09/SF
EGI
$22.6K $18.71/SF
− OpEx
−$6.8K −$5.61/SF
NOI
$15.8K $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%
$316,960
Cap Rate 7%
$226,400
Cap Rate 9%
$176,089
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.1K
NOI $15,848 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$195.8K
$171.4K – $228.5K
NOI $13,708 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$311.1K
$272.3K – $363.0K
NOI $21,780 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 77082, TX
57,493
Population
24,994
Households
2.3
Avg Household Size
35
Median Age
36%
College-Educated
88%
High-School Grad
12.6 sq mi
ZIP Area
4,563
Density / Sq Mi
$60,510
Median Household Income
$35,789
Median Earnings
$1,361
Median Rent
$225,600
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 - Stylishly renovated 3-bedroom, 2-bath home with modern upgrades.
Where is this duplex located?
The property is located at 3842 Westmeadow Drive Houston, TX.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Foundation repairs completed with a lifetime transferable warranty.; Stylishly renovated with modern upgrades throughout, including a redesigned kitchen and updated bathrooms.**; New roof, updated siding, fresh paint, new flooring, energy‑efficient windows, and brand‑new doors.
