Two-Unit Duplex with Open
For Sale
$379,900
6317 Sandra Street, Houston, TX 77028
Recently built duplex with two leased residences, each offering a contemporary open-concept living arrangement.
Property Size2,300 SF
Days on Market12
Property Features for 6317 Sandra Street
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi Family,Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,555
Building Details
Building Size
2,300 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
The All Homes Realty Group
(908) 370-3174
Listed By:
Madeline Kaplan
(908) 370-3174
Source:
Greenwoodking
Added: Aug 13
Changed: Aug 24
Last Checked: Aug 24 at 2:11PM
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 The All Homes Realty Group
Investment Insights
Based on property information with market context.
Completed in 2024, this duplex contains two separate three-bedroom, two-bath residences. Each unit uses an open-concept plan that connects the kitchen, dining area, and living room, creating a unified shared space. Both residences are currently leased, providing an existing rental arrangement for the property.
The duplex is located at 6317 Sandra St in Houston, Texas. Transportation scores include a walk score of 12, a bike score of 31, and a transit score of 38. The property’s two-unit configuration supports distinct residential occupancy within one building.
The duplex is located at 6317 Sandra St in Houston, Texas. Transportation scores include a walk score of 12, a bike score of 31, and a transit score of 38. The property’s two-unit configuration supports distinct residential occupancy within one building.
Key Highlights
- Built in 2024
- Two 3‑bedroom, 2‑bath units
- Both units are currently leased
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
$30,125
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
7.93%
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%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 2,300 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
$45.5K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$43.0K $18.71/SF
− OpEx
−$12.9K −$5.61/SF
NOI
$30.1K $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%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$372.2K
$325.7K – $434.3K
NOI $26,057 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$591.4K
$517.5K – $690.0K
NOI $41,400 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
562
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 - Recently built duplex with two leased residences, each offering a contemporary open-concept living arrangement.
Where is this duplex located?
The property is located at 6317 Sandra Street Houston, TX.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Built in 2024; Two 3‑bedroom, 2‑bath units; Both units are currently leased
