Income Duplex with Two Leased
For Sale
$350,000
6131 Andwood Street, Houston, TX 77087
Duplex built in 2004 with two 2-bedroom, 1.5-bath units, fully leased and generating current rental income.
Property Size2,130 SF
Price / SF$164.32
Days on Market99
Property Features for 6131 Andwood Street
General Information
Standard status
Active
Size
2,130 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,926
Amenities
Laminate,Tile
Yes
1
2
Window Coverings
Washer Hookup,Dryer Hookup
Appraiser
Window Treatments,Ceiling Fan(s),Programmable Thermostat
Subdivision
6600
2130
Building Details
Building Size
2,130 SF
Year Built
2004
Stories
1
Tenancy
Multi
Listing Agency:
Martha Turner Sotheby's International Realty
(281) 444-5140
Listed By:
Alec Waller
(832) 748-1915
Source:
Garygreene
Added: Jul 16
Changed: Oct 21
Last Checked: Oct 20 at 5:48PM
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 Martha Turner Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This income-producing duplex was built in 2004 and contains two separate units. Each unit offers 2 bedrooms and 1.5 bathrooms and is currently leased. Tenants are responsible for their own utilities, supporting a straightforward operating structure with two-unit management.
The property is described as conveniently located near Hobby Airport, I-45, and Loop 610. Roof maintenance documented in 2019 included new underlayment, resealing, vent replacement, and localized repairs. The seller also reports no flooding during Hurricane Harvey or other storms, and there is no HOA.
With two leased units and a manageable duplex layout, the property is positioned for an owner seeking long-term rental operations.
The property is described as conveniently located near Hobby Airport, I-45, and Loop 610. Roof maintenance documented in 2019 included new underlayment, resealing, vent replacement, and localized repairs. The seller also reports no flooding during Hurricane Harvey or other storms, and there is no HOA.
With two leased units and a manageable duplex layout, the property is positioned for an owner seeking long-term rental operations.
Key Highlights
- Duplex built in 2004 with two 1,065‑SF units, each featuring 2 bedrooms and 1.5 bathrooms
- Fully occupied; both units are currently leased and generating rental income, with tenants paying their own utilities
- Convenient access near Hobby Airport, I‑45, and Loop 610
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,898
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,960
$558.0K
Cap Rate 7%
$398,543
$398.5K
Cap Rate 9%
$309,978
$310.0K
Market Conditions
NOI Build-Up for 2,130 SF
Gross rent
$42.2K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.9K $18.71/SF
− OpEx
−$12.0K −$5.61/SF
NOI
$27.9K $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 Rate 5%
$557,960
Cap Rate 7%
$398,543
Cap Rate 9%
$309,978
Alternative Uses
Best Use
Multifamily LT 5
$398.5K
$348.7K – $465.0K
NOI $27,898 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.2K
NOI $24,131 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$547.7K
$479.3K – $639.0K
NOI $38,340 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex built in 2004 with two 2-bedroom, 1.5-bath units, fully leased and generating current rental income.
Where is this duplex located?
The property is located at 6131 Andwood 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: Duplex built in 2004 with two 1,065‑SF units, each featuring 2 bedrooms and 1.5 bathrooms; Fully occupied; both units are currently leased and generating rental income, with tenants paying their own utilities; Convenient access near Hobby Airport, I‑45, and Loop 610
