Duplex Tear-Down with Development
5023 Hoover Street, Houston, TX 77092
For Sale
$699,000
Duplex on-site needs total interior rehab, and the sale is priced and delivered as land value, as-is.
Property Size1,760 SF
Price / SF$397.16
Days on Market150
Property Features for 5023 Hoover Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Yes
1
2
Appraiser
Corner Lot,Subdivision
No
Public
39694
0.9112
Pillar/Post/Pier
1760
Building Details
Building Size
Year Built
Stories
Listing Agency:
HomeSmart
(713) 785-6666
Listed By:
Steven Dolgener
(832) 721-7276
Source:
Garygreene
Added: Jun 14
Changed: Nov 8
Last Checked: Nov 8 at 4:49AM
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 HomeSmart
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property includes a duplex, but it should be considered a tear-down due to the interior requiring total rehabilitation. The duplex is being sold at lot value and as-is, with no repairs or upgrades described.
The offering also includes a large buildable lot totaling 39,000+ square feet, with no HOA. The property’s layout and condition are therefore most suited for investors or builders looking to develop or reconfigure the site.
If you’re evaluating a land-value purchase with redevelopment flexibility, this is a straightforward asset: take the existing duplex condition into account, then plan around the available lot area and HOA-free terms.
The offering also includes a large buildable lot totaling 39,000+ square feet, with no HOA. The property’s layout and condition are therefore most suited for investors or builders looking to develop or reconfigure the site.
If you’re evaluating a land-value purchase with redevelopment flexibility, this is a straightforward asset: take the existing duplex condition into account, then plan around the available lot area and HOA-free terms.
Key Highlights
- Duplex on‑site needs total interior rehab and is priced/delivered as land value, as‑is
- Approximately 0.9112‑acre corner lot in a subdivision with 39,000+ SF of lot area
- 2‑bedroom, 1‑bath layout with living area totaling 1,760 SF (per appraiser)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,052
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,040
$461.0K
Cap Rate 7%
$329,314
$329.3K
Cap Rate 9%
$256,133
$256.1K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$34.8K $19.80/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$32.9K $18.71/SF
− OpEx
−$9.9K −$5.61/SF
NOI
$23.1K $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 Rate 5%
$461,040
Cap Rate 7%
$329,314
Cap Rate 9%
$256,133
Alternative Uses
Best Use
Multifamily LT 5
$329.3K
$288.2K – $384.2K
NOI $23,052 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$284.8K
$249.2K – $332.3K
NOI $19,939 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$452.6K
$396.0K – $528.0K
NOI $31,680 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 77092, TX
34,903
Population
16,158
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
75%
High-School Grad
8.1 sq mi
ZIP Area
4,309
Density / Sq Mi
$56,741
Median Household Income
$34,895
Median Earnings
$1,228
Median Rent
$222,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Houston, TX
Properties on Market for Duplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on-site needs total interior rehab, and the sale is priced and delivered as land value, as-is.
Where is this duplex located?
The property is located at 5023 Hoover Street Houston, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Duplex on‑site needs total interior rehab and is priced/delivered as land value, as‑is; Approximately 0.9112‑acre corner lot in a subdivision with 39,000+ SF of lot area; 2‑bedroom, 1‑bath layout with living area totaling 1,760 SF (per appraiser)
