Turnkey 2023 Duplex
For Sale
$456,000
4530 Mayflower Street, Houston, TX 77051
Newly built 2023 duplex with two leased units and matching 3-bedroom, 2-bath layouts.
Property Size2,604 SF
Days on Market66
Property Features for 4530 Mayflower Street
General Information
Standard status
Active
Size
2,604 SF
Property subtype
Multi Family,Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,173
Building Details
Building Size
2,604 SF
Year Built
2023
Listing Agency:
Compass RE Texas, LLC - Houston
(281) 707-4993
Listed By:
Erika Khoury · License #0570093
(281) 707-4993
Source:
Nancyalmodovar
Added: Jun 20
Changed: Aug 23
Last Checked: Aug 24 at 12:38PM
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 Compass RE Texas, LLC - Houston
Investment Insights
Based on property information with market context.
This turnkey duplex was constructed in 2023 and features two identical units, each with 3 bedrooms and 2 full bathrooms. The layout is open-concept, supported by modern finishes and durable flooring, with contemporary kitchens and private outdoor areas designed for low-maintenance ownership. Both units are currently leased, providing immediate stabilized occupancy.
The property is located at 4530 Mayflower St in Houston, Texas. WalkScore is 60 (somewhat walkable) and BikeScore is 53 (bikeable), with transitScore at 45 (some transit).
With both sides occupied, the duplex is producing combined gross rental income of $3,730 per month ($44,760 annually).
The property is located at 4530 Mayflower St in Houston, Texas. WalkScore is 60 (somewhat walkable) and BikeScore is 53 (bikeable), with transitScore at 45 (some transit).
With both sides occupied, the duplex is producing combined gross rental income of $3,730 per month ($44,760 annually).
Key Highlights
- Duplex built in 2023 featuring two identical units with 3 bedrooms and 2 full bathrooms each
- Both units are currently leased, providing immediate rental income
- Combined gross rental income of $3,730 per month ($44,760 annually)
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
$34,106
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
7.48%
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%
$682,120
$682.1K
Cap Rate 7%
$487,229
$487.2K
Cap Rate 9%
$378,956
$379.0K
Market Conditions
NOI Build-Up for 2,604 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
$51.6K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$48.7K $18.71/SF
− OpEx
−$14.6K −$5.61/SF
NOI
$34.1K $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%
$682,120
Cap Rate 7%
$487,229
Cap Rate 9%
$378,956
Alternative Uses
Best Use
Multifamily LT 5
$487.2K
$426.3K – $568.4K
NOI $34,106 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$421.4K
$368.8K – $491.7K
NOI $29,501 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$669.6K
$585.9K – $781.2K
NOI $46,872 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
432
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 - Newly built 2023 duplex with two leased units and matching 3-bedroom, 2-bath layouts.
Where is this duplex located?
The property is located at 4530 Mayflower Street Houston, TX.
What is the asking price?
The asking price for this property is $456,000.
What are key features of this property?
This property features: Duplex built in 2023 featuring two identical units with 3 bedrooms and 2 full bathrooms each; Both units are currently leased, providing immediate rental income; Combined gross rental income of $3,730 per month ($44,760 annually)
