Turnkey Duplex
For Sale
$474,999
5202 Northridge Drive A/B, Houston, TX 77033
Turnkey duplex with two leased units, each featuring three bedrooms and two full baths, complete with appliances.
Property Size2,480 SF
Lot Size0.17 Acres
Price / SF$191.53
Days on Market67
Property Features for 5202 Northridge Drive A/B
General Information
Standard status
Active
Size
2,480 SF
Lot size
0.17 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,474
Amenities
Carpet,Plank,Tile,Vinyl
Yes
2
3
Appraiser
Partial
7560
2480
Building Details
Building Size
2,480 SF
Year Built
2022
Stories
1
Listing Agency:
KSP
(713) 965-0812
Listed By:
Gabriela Gomez
(281) 798-4142
Source:
Garygreene
Added: Jul 3
Changed: Sep 3
Last Checked: Sep 7 at 5:01AM
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 KSP
Investment Insights
Based on property information with market context.
This turnkey duplex includes two tenant-occupied units, each laid out with three bedrooms and two full bathrooms. Interiors are designed with open-concept living and dining areas and elevated ceilings, with natural stone countertops, laminate flooring in main living areas, tile in wet areas, and carpeted bedrooms. Each unit is equipped with contemporary lighting, appliances, and PEX plumbing throughout the home.
The property is situated on a 7,560 sq. ft. lot within a 500-year floodplain, described as a lower-risk designation compared to high-risk zones. It is positioned for convenient access to major highways and is within minutes of shopping and dining, with NRG Stadium about five minutes away, the Texas Medical Center about 10 minutes away, and Downtown Houston about 15 minutes away.
Both units are currently leased, providing immediate rental income.
The property is situated on a 7,560 sq. ft. lot within a 500-year floodplain, described as a lower-risk designation compared to high-risk zones. It is positioned for convenient access to major highways and is within minutes of shopping and dining, with NRG Stadium about five minutes away, the Texas Medical Center about 10 minutes away, and Downtown Houston about 15 minutes away.
Both units are currently leased, providing immediate rental income.
Key Highlights
- 2022‑built duplex with two tenant‑occupied units, each with 3 bedrooms and 2 full baths
- Both units are currently leased, providing immediate rental income
- Each unit features open‑concept living and dining with elevated ceilings, plus modern lighting
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
$32,482
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
6.84%
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%
$649,640
$649.6K
Cap Rate 7%
$464,029
$464.0K
Cap Rate 9%
$360,911
$360.9K
Market Conditions
NOI Build-Up for 2,480 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
$49.1K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.4K $18.71/SF
− OpEx
−$13.9K −$5.61/SF
NOI
$32.5K $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%
$649,640
Cap Rate 7%
$464,029
Cap Rate 9%
$360,911
Alternative Uses
Best Use
Multifamily LT 5
$464.0K
$406.0K – $541.4K
NOI $32,482 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$401.4K
$351.2K – $468.3K
NOI $28,096 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$637.7K
$558.0K – $744.0K
NOI $44,640 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
460
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 - Turnkey duplex with two leased units, each featuring three bedrooms and two full baths, complete with appliances.
Where is this duplex located?
The property is located at 5202 Northridge Drive A/B Houston, TX.
What is the asking price?
The asking price for this property is $474,999.
What are key features of this property?
This property features: 2022‑built duplex with two tenant‑occupied units, each with 3 bedrooms and 2 full baths; Both units are currently leased, providing immediate rental income; Each unit features open‑concept living and dining with elevated ceilings, plus modern lighting
