Fully Remodeled Duplex with Private
For Sale
$350,000
5903 Belneath Street, Houston, TX 77033
Fully remodeled duplex on a corner lot with two updated units, each featuring its own private driveway and modern mechanicals.
Property Size1,765 SF
Price / SF$198.30
Days on Market98
Property Features for 5903 Belneath Street
General Information
Standard status
Active
Size
1,765 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,642
Amenities
Yes
1
4
Appraiser
Cleared,Corner Lot
No
Public
6300
Slab
1765
Building Details
Building Size
1,765 SF
Year Built
1960
Stories
1
Tenancy
Multi
Listing Agency:
J. Lindsey Properties
(281) 444-5140
Listed By:
Sydne Holloway
(832) 552-7284
Source:
Garygreene
Added: Jun 5
Changed: Sep 9
Last Checked: Sep 10 at 6:06AM
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 J. Lindsey Properties
Investment Insights
Based on property information with market context.
This fully remodeled duplex is set on a spacious corner lot and offers two separate units. The first unit has 4 bedrooms and 1 bathroom, and the second unit has 2 bedrooms and 1 bathroom. Both units have been updated with brand-new electrical and plumbing, along with new AC units, tankless water heaters, and appliances including dishwashers and stoves.
The property has a recently installed roof, supporting a move-in-ready, lower-maintenance ownership experience. Each unit also has its own private driveway for added independence between residents.
The layout is designed to provide comfortable living space in a duplex configuration, with renovations covering key systems and included appliances.
The property has a recently installed roof, supporting a move-in-ready, lower-maintenance ownership experience. Each unit also has its own private driveway for added independence between residents.
The layout is designed to provide comfortable living space in a duplex configuration, with renovations covering key systems and included appliances.
Key Highlights
- Fully remodeled duplex built in 1960 with 1,765 total building area on a 6,300 SF cleared corner lot.
- Two separate units, each with its own private driveway.
- Unit 1: 4 bedrooms and 1 bathroom; Unit 2: 2 bedrooms and 1 bathroom.
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
$23,117
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
6.60%
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%
$462,340
$462.3K
Cap Rate 7%
$330,243
$330.2K
Cap Rate 9%
$256,856
$256.9K
Market Conditions
NOI Build-Up for 1,765 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
$34.9K $19.80/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$33.0K $18.71/SF
− OpEx
−$9.9K −$5.61/SF
NOI
$23.1K $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%
$462,340
Cap Rate 7%
$330,243
Cap Rate 9%
$256,856
Alternative Uses
Best Use
Multifamily LT 5
$330.2K
$289.0K – $385.3K
NOI $23,117 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,996 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$453.9K
$397.1K – $529.5K
NOI $31,770 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
342
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully remodeled duplex on a corner lot with two updated units, each featuring its own private driveway and modern mechanicals.
Where is this duplex located?
The property is located at 5903 Belneath Street Houston, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fully remodeled duplex built in 1960 with 1,765 total building area on a 6,300 SF cleared corner lot.; Two separate units, each with its own private driveway.; Unit 1: 4 bedrooms and 1 bathroom; Unit 2: 2 bedrooms and 1 bathroom.
