Modern Duplex with Smart
For Sale
$519,000
4805 Paula Units A/B St, Houston, TX 77033
Newly built duplex with two 3-bedroom, 3-bath units, smart home features, and gated parking.
Property Size2,764 SF
Price / SF$187.77
Days on Market151
Property Features for 4805 Paula Units A/B St
General Information
Standard status
Active
Size
2,764 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,444
Building Details
Building Size
2,764 SF
Year Built
2025
Stories
2
Units
2
Listing Agency:
Compass
(832) 888-0230
Listed By:
Kimberly Dixon · License #0592106
(832) 888-0230
Source:
Elliman
Added: Apr 2
Changed: Aug 27
Last Checked: Aug 29 at 10:43AM
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
Investment Insights
Based on property information with market context.
This modern duplex offers two separate units, each with three bedrooms and three bathrooms. Built in 2025, the property includes luxury interior finishes such as floor-to-ceiling windows, vinyl flooring, European-style cabinetry, and spa-inspired bathrooms. Smart home features and energy-efficient systems are in place to support day-to-day comfort and operating efficiency.
Located in Houston’s Medical Center South area at 4805 Paula St, the duplex includes gated parking for tenant convenience. With two well-defined units, the configuration can support multiple real estate strategies, including long-term rental, short-term rental, or owner-occupancy with rental income.
The home’s layout and updated finishes are designed for residents who want a contemporary, turnkey setup within a newer construction duplex.
Located in Houston’s Medical Center South area at 4805 Paula St, the duplex includes gated parking for tenant convenience. With two well-defined units, the configuration can support multiple real estate strategies, including long-term rental, short-term rental, or owner-occupancy with rental income.
The home’s layout and updated finishes are designed for residents who want a contemporary, turnkey setup within a newer construction duplex.
Key Highlights
- Newly built duplex (2025) in Houston’s Medical Center South area with 2 units
- Each unit offers 3 beds and 3 baths for a total of 6 bedrooms and 6 bathrooms
- Approx. 2,764 SF total living space with luxury finishes throughout
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
$36,202
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
6.98%
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%
$724,040
$724.0K
Cap Rate 7%
$517,171
$517.2K
Cap Rate 9%
$402,244
$402.2K
Market Conditions
NOI Build-Up for 2,764 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
$54.7K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.7K $18.71/SF
− OpEx
−$15.5K −$5.61/SF
NOI
$36.2K $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%
$724,040
Cap Rate 7%
$517,171
Cap Rate 9%
$402,244
Alternative Uses
Best Use
Multifamily LT 5
$517.2K
$452.5K – $603.4K
NOI $36,202 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$447.3K
$391.4K – $521.9K
NOI $31,314 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$710.7K
$621.9K – $829.2K
NOI $49,752 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 77033, TX
28,369
Population
10,228
Households
2.8
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
4,977
Density / Sq Mi
$37,081
Median Household Income
$28,459
Median Earnings
$1,204
Median Rent
$98,300
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 - Newly built duplex with two 3-bedroom, 3-bath units, smart home features, and gated parking.
Where is this duplex located?
The property is located at 4805 Paula Units A/B St Houston, TX.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Newly built duplex (2025) in Houston’s Medical Center South area with 2 units; Each unit offers 3 beds and 3 baths for a total of 6 bedrooms and 6 bathrooms; Approx. 2,764 SF total living space with luxury finishes throughout
