New Construction Duplex in
For Sale
$560,000
5947 Southseas St, Houston, TX 77033
New construction duplex featuring modern amenities and spacious living areas.
Property Size3,564 SF
Lot Size0.17 Acres
Days on Market174
Property Features for 5947 Southseas St
General Information
Standard status
Active
Size
3,564 SF
Lot size
0.17 Acres
Property subtype
Investment
Lease Term
12 months
Building Details
Building Size
3,564 SF
Year Built
2023
Stories
2
Units
1
Listing Agency:
(832) 707-5055
Listed By:
Sandra Cruz
(832) 707-5055
Source:
Elliman
Added: Mar 11
Changed: Aug 25
Last Checked: Aug 30 at 3:01PM
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 Sandra Cruz
Investment Insights
Based on property information with market context.
This new construction duplex is located in Southseas. Each unit features 3 bedrooms and 2.5 bathrooms. The units offer a modern, open-concept floorplan with generous living spaces. The kitchens include new appliances, granite countertops, and solid wood cabinetry. Each unit also has a large, private backyard with a covered patio.
Key Highlights
- New construction duplex, built in 2023
- Two units, each featuring 3 bedrooms and 2.5 bathrooms
- New kitchens boast granite countertops and solid wood cabinetry
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
$46,680
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
8.34%
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%
$933,600
$933.6K
Cap Rate 7%
$666,857
$666.9K
Cap Rate 9%
$518,667
$518.7K
Market Conditions
NOI Build-Up for 3,564 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
$70.6K $19.80/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$66.7K $18.71/SF
− OpEx
−$20.0K −$5.61/SF
NOI
$46.7K $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%
$933,600
Cap Rate 7%
$666,857
Cap Rate 9%
$518,667
Alternative Uses
Best Use
Multifamily LT 5
$666.9K
$583.5K – $778.0K
NOI $46,680 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$576.8K
$504.7K – $673.0K
NOI $40,377 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$916.5K
$801.9K – $1.07M
NOI $64,152 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
380
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 - New construction duplex featuring modern amenities and spacious living areas.
Where is this duplex located?
The property is located at 5947 Southseas St Houston, TX.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: New construction duplex, built in 2023; Two units, each featuring 3 bedrooms and 2.5 bathrooms; New kitchens boast granite countertops and solid wood cabinetry
