Two-Story Duplex with Leased
For Sale
$415,000
5329 Higgins St A/B, Houston, TX 77033
Well-maintained two-story duplex with 3-bedroom, 2.5-bath units, including a unit already leased.
Property Size1,952 SF
Days on Market61
Property Features for 5329 Higgins St A/B
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Investment
Lease Term
12 months
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Building Size
1,952 SF
Year Built
2021
Stories
2
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Elliman
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 24 at 10:33AM
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 Nextgen Real Estate Properties
Investment Insights
Based on property information with market context.
This beautifully maintained 2-story duplex is configured as two separate units, each offering 3 bedrooms and 2.5 bathrooms. Both units feature a modern open-concept layout designed for comfortable daily living, with spacious living areas and sleek kitchen finishes, supported by a thoughtfully designed floor plan.
The property is positioned in Houston near major employment and education centers, with Downtown Houston, the Medical Center, and universities including the University of Houston and TSU described as nearby. It is also noted to be close to NRG Stadium and Midtown area attractions.
For buyers, this setup can fit a range of residential income strategies. Unit A is already leased, providing an income-producing starting point, while the second unit offers additional flexibility for an owner-occupant or an investor looking to manage both sides of the duplex over time. Each unit’s consistent 3-bedroom, 2.5-bath design can also simplify leasing and household planning.
The property is positioned in Houston near major employment and education centers, with Downtown Houston, the Medical Center, and universities including the University of Houston and TSU described as nearby. It is also noted to be close to NRG Stadium and Midtown area attractions.
For buyers, this setup can fit a range of residential income strategies. Unit A is already leased, providing an income-producing starting point, while the second unit offers additional flexibility for an owner-occupant or an investor looking to manage both sides of the duplex over time. Each unit’s consistent 3-bedroom, 2.5-bath design can also simplify leasing and household planning.
Key Highlights
- Built in 2021: well‑maintained two‑story duplex.
- Each unit offers 3 bedrooms and 2.5 baths with an open‑concept layout.
- Unit A is already leased, providing income‑producing opportunity from day one.
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
$25,567
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
6.16%
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%
$511,340
$511.3K
Cap Rate 7%
$365,243
$365.2K
Cap Rate 9%
$284,078
$284.1K
Market Conditions
NOI Build-Up for 1,952 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
$38.6K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$36.5K $18.71/SF
− OpEx
−$11.0K −$5.61/SF
NOI
$25.6K $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%
$511,340
Cap Rate 7%
$365,243
Cap Rate 9%
$284,078
Alternative Uses
Best Use
Multifamily LT 5
$365.2K
$319.6K – $426.1K
NOI $25,567 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$315.9K
$276.4K – $368.6K
NOI $22,115 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$501.9K
$439.2K – $585.6K
NOI $35,136 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
278
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 - Well-maintained two-story duplex with 3-bedroom, 2.5-bath units, including a unit already leased.
Where is this duplex located?
The property is located at 5329 Higgins St A/B Houston, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Built in 2021: well‑maintained two‑story duplex.; Each unit offers 3 bedrooms and 2.5 baths with an open‑concept layout.; Unit A is already leased, providing income‑producing opportunity from day one.
