Modern Six-Bedroom
New
For Sale
$610,000
5629 Malmedy Rd, Houston, TX 77033
New construction offers two residential units with flexible owner-occupant and rental use.
Property Size3,996 SF
Days on Market5
Property Features for 5629 Malmedy Rd
General Information
Standard status
Active
Size
3,996 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR/3.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,753
Building Details
Building Size
3,996 SF
Year Built
2026
Buildings
1
Stories
2
Units
1
Listed By:
Yesenia Guerra · License #0641108
(832) 786-9735
Source:
Elliman
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 9:51AM
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 Yesenia Guerra
Investment Insights
Based on property information with market context.
Built in 2026, this duplex includes two residential units with contemporary layouts. Each side provides 3 bedrooms and 3.5 baths, for a combined total of 6 bedrooms and 7 baths. The configuration supports living in one unit while leasing the other, along with traditional long-term, furnished, or individual-room rental strategies.
The property is located near Houston’s Medical Center and Downtown, with access to major highways, universities, employment centers, dining, entertainment, and citywide transportation. Walk Score is 46, Transit Score is 41, and Bike Score is 39.
The property is located near Houston’s Medical Center and Downtown, with access to major highways, universities, employment centers, dining, entertainment, and citywide transportation. Walk Score is 46, Transit Score is 41, and Bike Score is 39.
Key Highlights
- Two‑unit duplex built in 2026
- Each unit includes 3 bedrooms and 3.5 baths
- Combined layout totals 6 bedrooms and 7 baths
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
$52,338
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
8.58%
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%
$1,046,760
$1.0M
Cap Rate 7%
$747,686
$747.7K
Cap Rate 9%
$581,533
$581.5K
Market Conditions
NOI Build-Up for 3,996 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
$79.1K $19.80/SF
− Vacancy
−$4.4K −$1.09/SF
EGI
$74.8K $18.71/SF
− OpEx
−$22.4K −$5.61/SF
NOI
$52.3K $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%
$1,046,760
Cap Rate 7%
$747,686
Cap Rate 9%
$581,533
Alternative Uses
Best Use
Multifamily LT 5
$747.7K
$654.2K – $872.3K
NOI $52,338 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$646.7K
$565.9K – $754.5K
NOI $45,271 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.03M
$899.1K – $1.20M
NOI $71,928 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
445
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - New construction offers two residential units with flexible owner-occupant and rental use.
Where is this duplex located?
The property is located at 5629 Malmedy Rd Houston, TX.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2026; Each unit includes 3 bedrooms and 3.5 baths; Combined layout totals 6 bedrooms and 7 baths
