Renovated Duplex with Separate
For Sale
$220,000
5005 New Orleans St, Houston, TX 77020
Two individually metered residences offer distinct access and a mix of leased and available occupancy.
Property Size1,400 SF
Price / SF$157.14
Days on Market81
Property Features for 5005 New Orleans St
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1938
Year Renovated
2025
Listing Agency:
Beycome Brokerage Realty, LLC
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Doorstephomegroup
Added: Jul 28
Changed: Sep 21
Last Checked: Sep 29 at 12:28PM
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 Beycome Brokerage Realty, LLC
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Investment Insights
Based on property information with market context.
Renovated in 2025, this duplex contains two 2BR/1BA residences totaling 1,400 square feet. Each unit has its own entrance and meter, while the 2020 roof and HVAC preparation support the property’s current improvements. There is no HOA, and the sale is offered as-is.
One residence is leased, while the other is vacant and available for placement. The property sits within an Opportunity Zone and is minutes from Downtown and the Medical Center. The oversized lot may offer ADU potential, subject to buyer verification. Separate utility metering and the two-unit layout provide a straightforward framework for continued residential leasing or owner occupancy.
One residence is leased, while the other is vacant and available for placement. The property sits within an Opportunity Zone and is minutes from Downtown and the Medical Center. The oversized lot may offer ADU potential, subject to buyer verification. Separate utility metering and the two-unit layout provide a straightforward framework for continued residential leasing or owner occupancy.
Key Highlights
- Two 2BR/1BA units with separate entrances and separate meters
- 1,400‑square‑foot duplex renovated in 2025
- One unit leased; the second residence is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,337
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,740
$366.7K
Cap Rate 7%
$261,957
$262.0K
Cap Rate 9%
$203,744
$203.7K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$27.7K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$26.2K $18.71/SF
− OpEx
−$7.9K −$5.61/SF
NOI
$18.3K $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 Rate 5%
$366,740
Cap Rate 7%
$261,957
Cap Rate 9%
$203,744
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$226.6K
$198.3K – $264.4K
NOI $15,861 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$360.0K
$315.0K – $420.0K
NOI $25,200 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two individually metered residences offer distinct access and a mix of leased and available occupancy.
Where is this duplex located?
The property is located at 5005 New Orleans St Houston, TX.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two 2BR/1BA units with separate entrances and separate meters; 1,400‑square‑foot duplex renovated in 2025; One unit leased; the second residence is vacant
