Duplex with Fenced
For Sale
$390,000
622 Maple Way, Houston, TX 77015
The 2021-built property includes two three-bedroom units and outdoor areas suited for pets.
Property Size2,012 SF
Price / SF$193.84
Days on Market210
Property Features for 622 Maple Way
General Information
Standard status
Active
Size
2,012 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$8,591
Amenities
Laminate,Tile
Yes
4
No
6
Washer Hookup,Electric Dryer Hookup
Appraiser
Back Yard
Cleared,Subdivision
Public
7633
0.1752
Fully Fenced,Fence
Pillar/Post/Pier,Slab
2012
Building Details
Building Size
2,012 SF
Year Built
2021
Stories
1
Listing Agency:
Keller Williams Realty Clear Lake / NASA
(713) 961-1722
Listed By:
Vernice Ross
(619) 279-3455
Source:
Garygreene
Added: Feb 4
Changed: Sep 2
Last Checked: Sep 2 at 2:33PM
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 Keller Williams Realty Clear Lake / NASA
Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains two residential units, each offering three bedrooms, two bathrooms, and approximately 1,000 square feet. Interior finishes include laminate flooring in the living areas, tile bathrooms, granite countertops, and stainless-steel appliances. Refrigerators, washers, and dryers are included, subject to the current tenants’ lease terms.
Both units are occupied, and the property is located at 622 Maple Way in Houston, Texas, within 15 minutes of Downtown Houston. Exterior features include a fully fenced backyard, a covered turf area beneath the building, and a grass section designated for pets. The property also includes a slab and pillar/post/pier foundation configuration.
Both units are occupied, and the property is located at 622 Maple Way in Houston, Texas, within 15 minutes of Downtown Houston. Exterior features include a fully fenced backyard, a covered turf area beneath the building, and a grass section designated for pets. The property also includes a slab and pillar/post/pier foundation configuration.
Key Highlights
- Two occupied units, each with 3 bedrooms and 2 bathrooms
- Approximately 1,000 square feet per unit
- Built in 2021
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
$26,353
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
6.76%
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%
$527,060
$527.1K
Cap Rate 7%
$376,471
$376.5K
Cap Rate 9%
$292,811
$292.8K
Market Conditions
NOI Build-Up for 2,012 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
$39.8K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.6K $18.71/SF
− OpEx
−$11.3K −$5.61/SF
NOI
$26.4K $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%
$527,060
Cap Rate 7%
$376,471
Cap Rate 9%
$292,811
Alternative Uses
Best Use
Multifamily LT 5
$376.5K
$329.4K – $439.2K
NOI $26,353 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,794 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$517.4K
$452.7K – $603.6K
NOI $36,216 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 77015, TX
57,106
Population
19,961
Households
2.9
Avg Household Size
31
Median Age
11%
College-Educated
70%
High-School Grad
20.7 sq mi
ZIP Area
2,759
Density / Sq Mi
$57,324
Median Household Income
$34,477
Median Earnings
$1,169
Median Rent
$164,700
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 - The 2021-built property includes two three-bedroom units and outdoor areas suited for pets.
Where is this duplex located?
The property is located at 622 Maple Way Houston, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two occupied units, each with 3 bedrooms and 2 bathrooms; Approximately 1,000 square feet per unit; Built in 2021
