Renovated Two-Unit
For Sale
$428,000
Pending
4909 Cochran St 1-2, Houston, TX 77009
Updated interiors, separate entrances, private outdoor areas, and shared yard space support flexible residential occupancy.
Property Size2,150 SF
Days on Market45
Property Features for 4909 Cochran St 1-2
General Information
Standard status
Pending
Size
2,150 SF
Property subtype
Investment
Lease Term
12 months
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,550
Amenities
shared yard
storage units
Building Details
Building Size
2,150 SF
Year Built
1969
Buildings
1
Stories
2
Units
2
Listing Agency:
NB Elite Realty
Listed By:
Sonia Camacho · License #0730148
(832) 707-7477
Source:
Elliman
Added: Jul 21
Changed: Aug 31
Last Checked: Sep 2 at 7:07PM
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 NB Elite Realty
Investment Insights
Based on property information with market context.
This renovated duplex, built in 1969, contains two private units, each with 2 bedrooms and 1 bath. The lower residence has an open-concept interior, a covered carport accommodating 2+ vehicles, and a fenced private area. The upper residence includes front and rear balconies, while both units have separate entrances and individual storage units. A shared yard serves the property, and additional parking is available for the upstairs unit.
Located near Houston’s Heights and Downtown areas, the property offers access to a walkable, bikeable, and transit-served setting. Walk Score is 54, Bike Score is 64, and Transit Score is 57. The address is 4909 Cochran St 1-2, Houston, TX 77009.
Located near Houston’s Heights and Downtown areas, the property offers access to a walkable, bikeable, and transit-served setting. Walk Score is 54, Bike Score is 64, and Transit Score is 57. The address is 4909 Cochran St 1-2, Houston, TX 77009.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath in each residence
- Renovated property with updated interiors and an open‑concept lower unit
- Covered carport for 2+ vehicles plus additional parking for the upstairs unit
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
$28,160
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
6.58%
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%
$563,200
$563.2K
Cap Rate 7%
$402,286
$402.3K
Cap Rate 9%
$312,889
$312.9K
Market Conditions
NOI Build-Up for 2,150 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
$42.6K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$40.2K $18.71/SF
− OpEx
−$12.1K −$5.61/SF
NOI
$28.2K $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%
$563,200
Cap Rate 7%
$402,286
Cap Rate 9%
$312,889
Alternative Uses
Best Use
Multifamily LT 5
$402.3K
$352.0K – $469.3K
NOI $28,160 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,358 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$552.9K
$483.8K – $645.0K
NOI $38,700 @ 7.0% cap · market cap 9.04%
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
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
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 - Updated interiors, separate entrances, private outdoor areas, and shared yard space support flexible residential occupancy.
Where is this duplex located?
The property is located at 4909 Cochran St 1-2 Houston, TX.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath in each residence; Renovated property with updated interiors and an open‑concept lower unit; Covered carport for 2+ vehicles plus additional parking for the upstairs unit
