Two-Story Duplex with Patio
New
For Sale
$600,000
5225 Hillman Street # D Unit C D, Houston, TX 77023
Paired residences provide separate living spaces within a single duplex property.
Property Size3,582 SF
Days on Market3
Property Features for 5225 Hillman Street # D Unit C D
General Information
Standard status
Active
Size
3,582 SF
Property subtype
Multi Family,Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$994
Building Details
Building Size
3,582 SF
Year Built
2026
Buildings
2
Stories
2
Listing Agency:
Trotwood Realty
Listed By:
Shawn Baksh · License #583879
(713) 498-3737
Source:
Greenwoodking
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 7:30PM
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 Trotwood Realty
Investment Insights
Based on property information with market context.
This duplex consists of two distinct single-family patio homes presented together as one property. Each residence spans two stories and includes three bedrooms, two and one-half bathrooms, and separate living areas. The layout supports two independent households while keeping both residences under common ownership.
Built in 2026, the property offers a configuration suited to multigenerational living or an owner seeking separate residential spaces. Both homes are located at 5225 Hillman Street in Houston, Texas.
Built in 2026, the property offers a configuration suited to multigenerational living or an owner seeking separate residential spaces. Both homes are located at 5225 Hillman Street in Houston, Texas.
Key Highlights
- Two separate single‑family patio homes offered together as a duplex
- Each residence includes 3 bedrooms and 2.5 bathrooms
- Both residences feature two‑story layouts
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
$46,916
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
7.82%
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%
$938,320
$938.3K
Cap Rate 7%
$670,229
$670.2K
Cap Rate 9%
$521,289
$521.3K
Market Conditions
NOI Build-Up for 3,582 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
$70.9K $19.80/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$67.0K $18.71/SF
− OpEx
−$20.1K −$5.61/SF
NOI
$46.9K $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%
$938,320
Cap Rate 7%
$670,229
Cap Rate 9%
$521,289
Alternative Uses
Best Use
Multifamily LT 5
$670.2K
$586.5K – $781.9K
NOI $46,916 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$579.7K
$507.3K – $676.4K
NOI $40,581 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$921.1K
$806.0K – $1.07M
NOI $64,476 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
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 - Paired residences provide separate living spaces within a single duplex property.
Where is this duplex located?
The property is located at 5225 Hillman Street # D Unit C D Houston, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two separate single‑family patio homes offered together as a duplex; Each residence includes 3 bedrooms and 2.5 bathrooms; Both residences feature two‑story layouts
