Duplex Near Downtown and
For Sale
$479,000
4505 Maggie St A, Houston, TX 77051
Duplex with 4 beds/3 baths per unit near Downtown.
Property Size3,656 SF
Days on Market143
Property Features for 4505 Maggie St A
General Information
Standard status
Active
Size
3,656 SF
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$8,182
Building Details
Building Size
3,656 SF
Year Built
2006
Stories
2
Units
1
Listing Agency:
JPAR- The Sears Group
Listed By:
Steven Tran · License #705994
(713) 405-9836
Source:
Elliman
Added: Apr 15
Changed: Aug 14
Last Checked: Sep 1 at 10:01PM
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 JPAR- The Sears Group
Investment Insights
Based on property information with market context.
This duplex is located near Downtown, NRG Stadium, the Medical Center, and Pearland Town Center, with convenient access to 610 and 288. Each unit features 4 bedrooms and 3 full bathrooms, with two bedrooms upstairs in the main living area and two bedrooms downstairs. Each unit includes a dedicated dining room, an additional sitting area or office space, large closets, extra storage, and a downstairs laundry area. Both units also feature attached two-car garages, and the property is secured with a gated entrance. This property is suitable for investors or owner-occupants. Both units are occupied long term with government-paid housing. The tenant covers all utilities. Rents are below market and have the potential to increase. One HVAC unit was replaced in 2023. The bike score is 53, indicating it is bikeable. The walk score is 60, indicating it is somewhat walkable. The transit score is 45, indicating some transit options are available.
Key Highlights
- Prime location near Downtown, NRG Stadium, the Medical Center, and Pearland Town Center, with easy access to 610 and 288.
- Each unit features 4 bedrooms and 3 full bathrooms.
- Currently income‑producing with long‑term tenants and guaranteed government‑paid housing.
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
$41,419
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
8.65%
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%
$828,380
$828.4K
Cap Rate 7%
$591,700
$591.7K
Cap Rate 9%
$460,211
$460.2K
Market Conditions
NOI Build-Up for 3,656 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
$80.3K $21.96/SF
− Vacancy
−$5.0K −$1.36/SF
EGI
$75.3K $20.60/SF
− OpEx
−$33.9K −$9.27/SF
NOI
$41.4K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$828,380
Cap Rate 7%
$591,700
Cap Rate 9%
$460,211
Alternative Uses
Best Use
Multifamily LT 5
$684.1K
$598.6K – $798.1K
NOI $47,885 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$591.7K
$517.7K – $690.3K
NOI $41,419 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$940.1K
$822.6K – $1.10M
NOI $65,808 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
614
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 - Duplex with 4 beds/3 baths per unit near Downtown.
Where is this duplex located?
The property is located at 4505 Maggie St A Houston, TX.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Prime location near Downtown, NRG Stadium, the Medical Center, and Pearland Town Center, with easy access to 610 and 288.; Each unit features **4 bedrooms and 3 full bathrooms.**; Currently income‑producing with long‑term tenants and guaranteed government‑paid housing.
