Two-Story
New
For Sale
$535,000
4649 Clover Street, Houston, TX 77051
New construction pairs two residential units in a contemporary duplex near major Houston destinations.
Property Size2,626 SF
Price / SF$203.73
Days on Market2
Property Features for 4649 Clover Street
General Information
Standard status
Active
Size
2,626 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Walzel Properties - Corporate Office
Listed By:
Texas Home Shop Realty
(281) 216-6150
Source:
Texashomeshoprealty
Added: Sep 30
Last Checked: Oct 1 at 10:39AM
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 Walzel Properties - Corporate Office
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,626-square-foot duplex contains two residences, each arranged across two stories. Both units have three bedrooms, 2.5 bathrooms, and an open-concept layout. The exterior features beige and cream finishes with modern architectural lines.
The property is in Houston, near the Texas Medical Center, NRG Stadium, Midtown, and Downtown. The two-unit configuration and individual floor plans are the primary physical features of the property.
The property is in Houston, near the Texas Medical Center, NRG Stadium, Midtown, and Downtown. The two-unit configuration and individual floor plans are the primary physical features of the property.
Key Highlights
- 2,626‑square‑foot duplex
- Two residential units, each with 3 bedrooms and 2.5 bathrooms
- Each residence spans two stories
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
$34,395
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
6.43%
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%
$687,900
$687.9K
Cap Rate 7%
$491,357
$491.4K
Cap Rate 9%
$382,167
$382.2K
Market Conditions
NOI Build-Up for 2,626 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
$52.0K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.1K $18.71/SF
− OpEx
−$14.7K −$5.61/SF
NOI
$34.4K $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%
$687,900
Cap Rate 7%
$491,357
Cap Rate 9%
$382,167
Alternative Uses
Best Use
Multifamily LT 5
$491.4K
$429.9K – $573.3K
NOI $34,395 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$425.0K
$371.9K – $495.8K
NOI $29,750 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$675.3K
$590.9K – $787.8K
NOI $47,268 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
517
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 - New construction pairs two residential units in a contemporary duplex near major Houston destinations.
Where is this duplex located?
The property is located at 4649 Clover Street Houston, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 2,626‑square‑foot duplex; Two residential units, each with 3 bedrooms and 2.5 bathrooms; Each residence spans two stories
