Duplex with Detached
For Sale
$339,900
5701 LUNA Street, Houston, TX 77076
Two separate living areas include a traditional home and a converted garage apartment with a carport.
Property Size1,496 SF
Price / SF$227.21
Days on Market42
Property Features for 5701 LUNA Street
General Information
Standard status
Active
Size
1,496 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1-2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,258
Amenities
Tile
Yes
2
3
Appraiser
GraniteCounters
Other
7126
1496
Building Details
Building Size
1,496 SF
Year Built
1955
Stories
1
Listing Agency:
Compass RE Texas, LLC - The Heights
(281) 799-0203
Listed By:
Rebecca Nelson
(281) 799-0203
Source:
Garygreene
Added: Jul 2
Changed: Aug 12
Last Checked: Aug 12 at 4:08AM
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 Compass RE Texas, LLC - The Heights
Investment Insights
Based on property information with market context.
This duplex property at 5701 Luna Street includes a three-bedroom, two-bath main residence with a functional layout and generous living areas. The detached garage has been converted into a one- to two-bedroom apartment with one bathroom, creating a separate living space within the property. A carport provides covered parking, while the lot includes mature trees and room around the improvements. The property was built in 1955 and is located in Houston, Texas.
Key Highlights
- Three‑bedroom, two‑bath main residence
- Detached garage converted to a one- to two‑bedroom, one‑bath apartment
- Carport included for covered parking
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
$19,594
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
5.76%
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%
$391,880
$391.9K
Cap Rate 7%
$279,914
$279.9K
Cap Rate 9%
$217,711
$217.7K
Market Conditions
NOI Build-Up for 1,496 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
$29.6K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$28.0K $18.71/SF
− OpEx
−$8.4K −$5.61/SF
NOI
$19.6K $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%
$391,880
Cap Rate 7%
$279,914
Cap Rate 9%
$217,711
Alternative Uses
Best Use
Multifamily LT 5
$279.9K
$244.9K – $326.6K
NOI $19,594 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$242.1K
$211.9K – $282.5K
NOI $16,948 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$384.7K
$336.6K – $448.8K
NOI $26,928 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 77076, TX
32,349
Population
10,650
Households
3
Avg Household Size
31
Median Age
6%
College-Educated
55%
High-School Grad
4.7 sq mi
ZIP Area
6,883
Density / Sq Mi
$39,895
Median Household Income
$26,809
Median Earnings
$1,151
Median Rent
$147,700
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 - Two separate living areas include a traditional home and a converted garage apartment with a carport.
Where is this duplex located?
The property is located at 5701 LUNA Street Houston, TX.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bath main residence; Detached garage converted to a one- to two‑bedroom, one‑bath apartment; Carport included for covered parking
