Duplex with Flexible
For Sale
$499,000
3940 Davenport Street A, Houston, TX 77051
Recently built two-unit property with one occupied residence and a separate vacant unit for leasing or owner use.
Property Size1,828 SF
Price / SF$272.98
Days on Market67
Property Features for 3940 Davenport Street A
General Information
Standard status
Active
Size
1,828 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Sunnyside Civic Club, Inc.
Additional Details
Multifamily Units
2
Building Details
Year Built
2023
Listing Agency:
Locke and Key Homes
Listed By:
Kassieleigh Scott
(713) 909-3977
Source:
Vincesoldit
Added: Aug 20
Changed: Oct 25
Last Checked: Oct 7 at 4:45PM
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 Locke and Key Homes
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Investment Insights
Based on property information with market context.
Completed in 2023, this Houston duplex includes two separate residential units with different occupancy positions. One residence is leased month-to-month, while the other is vacant and available for a new occupant or an owner seeking on-site housing.
The property is located at 3940 Davenport St A in Houston, TX 77051. The existing tenant has expressed willingness to consider a longer-term lease, while the vacant unit provides flexibility for future leasing or personal use. Walk Score is 47, Transit Score is 46, and Bike Score is 38.
The property is located at 3940 Davenport St A in Houston, TX 77051. The existing tenant has expressed willingness to consider a longer-term lease, while the vacant unit provides flexibility for future leasing or personal use. Walk Score is 47, Transit Score is 46, and Bike Score is 38.
Key Highlights
- Built in 2023
- Two‑unit duplex with one leased residence and one vacant unit
- Occupied unit is leased month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,943
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,860
$478.9K
Cap Rate 7%
$342,043
$342.0K
Cap Rate 9%
$266,033
$266.0K
Market Conditions
NOI Build-Up for 1,828 SF
Gross rent
$36.2K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$34.2K $18.71/SF
− OpEx
−$10.3K −$5.61/SF
NOI
$23.9K $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 Rate 5%
$478,860
Cap Rate 7%
$342,043
Cap Rate 9%
$266,033
Alternative Uses
Best Use
Multifamily LT 5
$342.0K
$299.3K – $399.1K
NOI $23,943 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$295.9K
$258.9K – $345.2K
NOI $20,710 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$470.1K
$411.3K – $548.4K
NOI $32,904 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Recently built two-unit property with one occupied residence and a separate vacant unit for leasing or owner use.
Where is this duplex located?
The property is located at 3940 Davenport Street A Houston, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Built in 2023; Two‑unit duplex with one leased residence and one vacant unit; Occupied unit is leased month‑to‑month
