Duplex Property with Private
For Sale
$815,000
6013-6015 San Felipe Street, Houston, TX 77057
Two adjoining homes share a fenced backyard with pool, covered patio, and outdoor pavilion.
Property Size2,984 SF
Price / SF$273.12
Days on Market38
Property Features for 6013-6015 San Felipe Street
General Information
Standard status
Active
Size
2,984 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,182
Amenities
pool
pool house
covered open pavilion
fenced backyard
covered patio
indoor laundry room
Carpet,Tile
Yes
2
Appraiser
Programmable Thermostat
Partial
7800
Two
Carport
2984
Building Details
Building Size
2,984 SF
Year Built
1959
Stories
2
Tenancy
Multi
Listing Agency:
Tri-County Realty, LLC
(281) 444-5140
Listed By:
Bonnie D'Amico
(281) 546-5858
Source:
Garygreene
Added: Jul 29
Changed: Sep 3
Last Checked: Sep 2 at 1:31PM
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 Tri-County Realty, LLC
Investment Insights
Based on property information with market context.
Located at 6013-6015 San Felipe St in Houston’s Uptown area, this duplex property spans three lots and includes two adjoining homes measuring 1,492 square feet each. Each residence offers two bedrooms, two bathrooms, an open living area, dining space, feature wall, dry bar with mini fridge, quartz bar top, modern kitchen, walk-in pantry, and indoor laundry room. Both homes include one full bath downstairs and two bedrooms with a double-vanity bath upstairs.
Outdoor improvements include a private pool, pool deck, covered patio, outdoor pool house, covered open pavilion, and fenced backyard. Each side of the driveway provides space for two cars. The property was built in 1959 and is fully rented. Corporate buildings, shopping, and restaurants are located down the street. Walk Score is 49, Bike Score is 50, and Transit Score is 36.
Outdoor improvements include a private pool, pool deck, covered patio, outdoor pool house, covered open pavilion, and fenced backyard. Each side of the driveway provides space for two cars. The property was built in 1959 and is fully rented. Corporate buildings, shopping, and restaurants are located down the street. Walk Score is 49, Bike Score is 50, and Transit Score is 36.
Key Highlights
- Two adjoining homes, each measuring 1,492 square feet with 2 bedrooms and 2 bathrooms
- Duplex property spanning three lots at 6013‑6015 San Felipe St
- Private pool with pool deck, covered patio, pool house, and covered open pavilion
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
$39,084
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
4.80%
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%
$781,680
$781.7K
Cap Rate 7%
$558,343
$558.3K
Cap Rate 9%
$434,267
$434.3K
Market Conditions
NOI Build-Up for 2,984 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
$59.1K $19.80/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$55.8K $18.71/SF
− OpEx
−$16.8K −$5.61/SF
NOI
$39.1K $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%
$781,680
Cap Rate 7%
$558,343
Cap Rate 9%
$434,267
Alternative Uses
Best Use
Multifamily LT 5
$558.3K
$488.6K – $651.4K
NOI $39,084 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$482.9K
$422.6K – $563.4K
NOI $33,806 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$767.3K
$671.4K – $895.2K
NOI $53,712 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 77057, TX
43,669
Population
25,231
Households
1.7
Avg Household Size
36
Median Age
53%
College-Educated
87%
High-School Grad
4.3 sq mi
ZIP Area
10,156
Density / Sq Mi
$66,200
Median Household Income
$40,419
Median Earnings
$1,354
Median Rent
$318,700
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 adjoining homes share a fenced backyard with pool, covered patio, and outdoor pavilion.
Where is this duplex located?
The property is located at 6013-6015 San Felipe Street Houston, TX.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Two adjoining homes, each measuring 1,492 square feet with 2 bedrooms and 2 bathrooms; Duplex property spanning three lots at 6013‑6015 San Felipe St; Private pool with pool deck, covered patio, pool house, and covered open pavilion
