New Construction Duplex with
New
For Sale
$649,900
5106 Ricky St, Houston, TX 77033
Two-unit property offers contemporary finishes, open-concept interiors, and separate three-bedroom layouts suited to rental or multigenerational use.
Property Size3,926 SF
Days on Market3
Property Features for 5106 Ricky St
General Information
Standard status
Active
Size
3,926 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,403
Building Details
Building Size
3,926 SF
Year Built
2026
Buildings
1
Stories
2
Units
2
Listing Agency:
(281) 703-9096
Listed By:
Eric Gage · License #561466
(281) 703-9096
Source:
Elliman
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 5:44AM
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 Eric Gage
Investment Insights
Based on property information with market context.
Built in 2026, this duplex includes two separately configured units, each with three bedrooms, 2.5 baths, a two-car garage, and an open-concept interior. Both residences feature high ceilings, 8-inch doors, quartz kitchen countertops, soft-close cabinetry, and stainless steel appliances. Primary suites include oversized walk-in closets and freestanding tubs. The buildings are elevated on concrete piers.
The property is located at 5106 Ricky St in Houston, within 10 minutes of the Houston Medical Center, universities, Reliant Stadium, and Hobby Airport. Walk Score is 38, Bike Score is 34, and Transit Score is 35.
The two-unit configuration supports either an investment-oriented ownership structure or multigenerational living, with comparable layouts and dedicated garage parking for each residence.
The property is located at 5106 Ricky St in Houston, within 10 minutes of the Houston Medical Center, universities, Reliant Stadium, and Hobby Airport. Walk Score is 38, Bike Score is 34, and Transit Score is 35.
The two-unit configuration supports either an investment-oriented ownership structure or multigenerational living, with comparable layouts and dedicated garage parking for each residence.
Key Highlights
- Two‑unit duplex built in 2026
- Each unit includes 3 bedrooms, 2.5 baths, and a 2‑car garage
- Quartz countertops, soft‑close cabinetry, and stainless steel appliances
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
$51,422
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
7.91%
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%
$1,028,440
$1.0M
Cap Rate 7%
$734,600
$734.6K
Cap Rate 9%
$571,356
$571.4K
Market Conditions
NOI Build-Up for 3,926 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
$77.7K $19.80/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$73.5K $18.71/SF
− OpEx
−$22.0K −$5.61/SF
NOI
$51.4K $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%
$1,028,440
Cap Rate 7%
$734,600
Cap Rate 9%
$571,356
Alternative Uses
Best Use
Multifamily LT 5
$734.6K
$642.8K – $857.0K
NOI $51,422 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$635.4K
$556.0K – $741.3K
NOI $44,478 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$1.01M
$883.4K – $1.18M
NOI $70,668 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
209
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 - Two-unit property offers contemporary finishes, open-concept interiors, and separate three-bedroom layouts suited to rental or multigenerational use.
Where is this duplex located?
The property is located at 5106 Ricky St Houston, TX.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex built in 2026; Each unit includes 3 bedrooms, 2.5 baths, and a 2‑car garage; Quartz countertops, soft‑close cabinetry, and stainless steel appliances
