Four-Unit Duplex
516 N Eastwood Street Houston, TX 77011
516 N Eastwood Street, Houston, TX, 77011
$219,000
For Sale
$219,000
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 Market30
Property Features for 516 N Eastwood Street
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1940
Listing agency
HomeSmart
(281) 787-2821
Listed by
Burke Purdie
(281) 787-2821
Source
Garygreene
Added: Jun 23 Updated: Jul 18 at 4:56AM Checked: Jul 22 at 3:01AM
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
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.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.8k | $19.80 |
| − Vacancy | −$1.3k | −$1.09 |
| EGI | $22.5k | $18.71 |
| − OpEx | −$6.7k | −$5.61 |
| NOI | $15.7k | $13.10 |
1,200 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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.
