Turnkey Duplex Rental
For Sale
$379,990
6004 Wedgefield St A/B, Houston, TX 77028
Like-new duplex rental with open-concept living, three bedrooms, private backyard, and all appliances included.
Property Size2,400 SF
Days on Market61
Property Features for 6004 Wedgefield St A/B
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Investment
Lease Term
12 months
Building Details
Building Size
2,400 SF
Year Built
2023
Stories
2
Units
1
Listed By:
Ashley Shears
(832) 401-4937
Source:
Elliman
Added: Jul 5
Changed: Aug 31
Last Checked: Sep 1 at 9:52PM
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 Ashley Shears
Investment Insights
Based on property information with market context.
This like-new duplex is set up for rental living with an open-concept layout that includes a spacious living room and large windows designed to bring in natural light. The configuration provides three bedrooms and two bathrooms, including a master bedroom with an ensuite bathroom featuring a shower and ample closet space. An outdoor private backyard adds practical everyday space beyond the interior. All appliances are included, supporting an easier move-in or tenant turnover.
The property is located on a residential street and is described as being in a desirable neighborhood. Mobility scores indicate a more car-dependent setting, with bike, walk, and transit scores reported as 30 (Somewhat Bikeable), 15 (Car-Dependent), and 27 (Some Transit), respectively.
For tenants or buyers seeking a modern, low-friction rental setup, the combination of open living areas, three bedrooms, and on-site private outdoor space can fit a range of households. The included appliance package and clearly defined bedroom and bathroom layout can also simplify day-to-day occupancy and management. The duplex format may appeal to investors looking for a residential income property where the living spaces are configured for comfort and privacy.
The property is located on a residential street and is described as being in a desirable neighborhood. Mobility scores indicate a more car-dependent setting, with bike, walk, and transit scores reported as 30 (Somewhat Bikeable), 15 (Car-Dependent), and 27 (Some Transit), respectively.
For tenants or buyers seeking a modern, low-friction rental setup, the combination of open living areas, three bedrooms, and on-site private outdoor space can fit a range of households. The included appliance package and clearly defined bedroom and bathroom layout can also simplify day-to-day occupancy and management. The duplex format may appeal to investors looking for a residential income property where the living spaces are configured for comfort and privacy.
Key Highlights
- Year built 2023 like‑new duplex rental
- 3 bedrooms and 2 bathrooms with an open‑concept layout
- Private backyard outdoor space
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
$31,434
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
8.27%
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%
$628,680
$628.7K
Cap Rate 7%
$449,057
$449.1K
Cap Rate 9%
$349,267
$349.3K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.9K $18.71/SF
− OpEx
−$13.5K −$5.61/SF
NOI
$31.4K $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%
$628,680
Cap Rate 7%
$449,057
Cap Rate 9%
$349,267
Alternative Uses
Best Use
Multifamily LT 5
$449.1K
$392.9K – $523.9K
NOI $31,434 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$388.4K
$339.9K – $453.2K
NOI $27,190 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$617.1K
$540.0K – $720.0K
NOI $43,200 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
224
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 - Like-new duplex rental with open-concept living, three bedrooms, private backyard, and all appliances included.
Where is this duplex located?
The property is located at 6004 Wedgefield St A/B Houston, TX.
What is the asking price?
The asking price for this property is $379,990.
What are key features of this property?
This property features: Year built 2023 like‑new duplex rental; 3 bedrooms and 2 bathrooms with an open‑concept layout; Private backyard outdoor space
