Four-Unit Duplex
For Sale
$219,000
516 N Eastwood Street, Houston, TX 77011
Sold as two separately metered duplexes totaling four 1-bedroom units, with three currently tenant occupied.
Property Size1,200 SF
Price / SF$182.50
Days on Market78
Property Features for 516 N Eastwood Street
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$4,778
Amenities
Wood,Hardwood
Yes
1
Appraiser
CeilingFans
Cleared
4770
PrivateEntrance
1200
Building Details
Building Size
1,200 SF
Year Built
1940
Stories
1
Listing Agency:
HomeRiver Group
(281) 486-1900
Listed By:
Burke Purdie
(281) 787-2821
Source:
Garygreene
Added: Jun 23
Changed: Sep 7
Last Checked: Sep 7 at 5:47AM
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 HomeRiver Group
Investment Insights
Based on property information with market context.
This offering is being sold as 516 and 518 N. Eastwood together for a total of four units across two duplexes. Each duplex provides 1,200 square feet, with two 600-square-foot units. Every unit includes one bedroom and one bathroom, along with a living area and kitchen. Three of the four units are currently tenant occupied and generating income.
Each duplex is separately metered with two electrical, gas, and water meters, offering flexibility for future management and rental adjustments.
The property is positioned minutes from Downtown Houston, U of H, Texas Medical Center, and Daikin Park, placing it within a high-growth area of the East End.
Each duplex is separately metered with two electrical, gas, and water meters, offering flexibility for future management and rental adjustments.
The property is positioned minutes from Downtown Houston, U of H, Texas Medical Center, and Daikin Park, placing it within a high-growth area of the East End.
Key Highlights
- Sold as two separately metered duplexes totaling four 1‑bedroom, 1‑bath units (516 & 518 N. Eastwood).
- Each duplex offers 1,200 SF total with two 600 SF units, each featuring 1 bedroom, 1 bath, living area, and kitchen.
- Three units are currently tenant occupied, providing ongoing rental income.
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
$15,717
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
7.18%
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%
$314,340
$314.3K
Cap Rate 7%
$224,529
$224.5K
Cap Rate 9%
$174,633
$174.6K
Market Conditions
NOI Build-Up for 1,200 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
$23.8K $19.80/SF
− Vacancy
−$1.3K −$1.09/SF
EGI
$22.5K $18.71/SF
− OpEx
−$6.7K −$5.61/SF
NOI
$15.7K $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%
$314,340
Cap Rate 7%
$224,529
Cap Rate 9%
$174,633
Alternative Uses
Best Use
Multifamily LT 5
$224.5K
$196.5K – $262.0K
NOI $15,717 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$194.2K
$169.9K – $226.6K
NOI $13,595 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$308.6K
$270.0K – $360.0K
NOI $21,600 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Sold as two separately metered duplexes totaling four 1-bedroom units, with three currently tenant occupied.
Where is this duplex located?
The property is located at 516 N Eastwood Street Houston, TX.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Sold as two separately metered duplexes totaling four 1‑bedroom, 1‑bath units (516 & 518 N. Eastwood).; Each duplex offers 1,200 SF total with two 600 SF units, each featuring 1 bedroom, 1 bath, living area, and kitchen.; Three units are currently tenant occupied, providing ongoing rental income.
