Three-Level
For Sale
$459,900
5924 N Wayside Drive A-B, Houston, TX 77028
New-construction multifamily property with two residences, contemporary finishes, and abundant window placement across each level.
Property Size2,469 SF
Price / SF$186.27
Days on Market48
Property Features for 5924 N Wayside Drive A-B
General Information
Standard status
Active
Size
2,469 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$971
Amenities
Yes
2
3
Appraiser
4641
2469
Building Details
Building Size
2,469 SF
Year Built
2026
Buildings
1
Stories
3
Listing Agency:
Value Realty, Inc
(713) 461-6800
Listed By:
Lynette Lew · License #0543709
(713) 582-2202
Source:
Garygreene
Added: Jul 17
Changed: Sep 2
Last Checked: Sep 1 at 3:31PM
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 Value Realty, Inc
Investment Insights
Based on property information with market context.
This new-construction duplex contains two distinct residences arranged across three levels. The property measures 2,469 square feet and is described with three bedrooms and two-and-a-half bathrooms. Contemporary exterior finishes and extensive window placement define the design, bringing natural light throughout the residences. Construction is identified for 2026.
Located at 5924 N Wayside Drive A-B in Houston, the property is positioned in a growing area of the city. Its two-unit configuration supports multifamily ownership and provides separate residential spaces within one building.
Located at 5924 N Wayside Drive A-B in Houston, the property is positioned in a growing area of the city. Its two-unit configuration supports multifamily ownership and provides separate residential spaces within one building.
Key Highlights
- Two‑unit duplex at 5924 N Wayside Drive A‑B, Houston, TX 77028
- 2,469‑square‑foot property
- Each unit spans three levels
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
$32,338
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
7.03%
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%
$646,760
$646.8K
Cap Rate 7%
$461,971
$462.0K
Cap Rate 9%
$359,311
$359.3K
Market Conditions
NOI Build-Up for 2,469 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
$48.9K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.2K $18.71/SF
− OpEx
−$13.9K −$5.61/SF
NOI
$32.3K $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%
$646,760
Cap Rate 7%
$461,971
Cap Rate 9%
$359,311
Alternative Uses
Best Use
Multifamily LT 5
$462.0K
$404.2K – $539.0K
NOI $32,338 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$634.9K
$555.5K – $740.7K
NOI $44,442 @ 7.0% cap · market cap 9.66%
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
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
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 - New-construction multifamily property with two residences, contemporary finishes, and abundant window placement across each level.
Where is this duplex located?
The property is located at 5924 N Wayside Drive A-B Houston, TX.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Two‑unit duplex at 5924 N Wayside Drive A‑B, Houston, TX 77028; 2,469‑square‑foot property; Each unit spans three levels
