Turnkey Income
6415 Waldron Drive Houston, TX 77084
For Sale
$430,000
Fully leased duplex with two units featuring three bedrooms, 2.5 baths, garages, and private fenced backyards.
Property Size3,356 SF
Price / SF$128.13
Days on Market136
Property Features for 6415 Waldron Drive
General Information
- Standard status
- Active
- Size
- 3,356 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2005
Listing Agency:
Compass RE Texas, LLC - Houston
(281) 415-4377
Listed By:
Neil Broesche
(281) 415-4377
Source:
Garygreene
Added: Mar 13
Changed: Jul 25
Last Checked: Jul 26 at 3:34AM
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 Compass RE Texas, LLC - Houston
Investment Insights
Based on property information with market context.
Turnkey, income-producing duplex presented fully leased. The property includes two units, each offering three bedrooms and 2.5 bathrooms, along with a 2-car garage and a private fenced backyard.
The property is offered for sale in a high-demand rental area, with convenient access to major highways, shopping, and employment centers. It is drive-by only, and tenants must not be disturbed; showings are arranged with an accepted offer.
The duplex is offered with no HOA, and the provided financial details indicate current monthly income of $3,600 total. The listing also states an approximate 6.8% cap rate based on the listed figures.
The property is offered for sale in a high-demand rental area, with convenient access to major highways, shopping, and employment centers. It is drive-by only, and tenants must not be disturbed; showings are arranged with an accepted offer.
The duplex is offered with no HOA, and the provided financial details indicate current monthly income of $3,600 total. The listing also states an approximate 6.8% cap rate based on the listed figures.
Key Highlights
- Turnkey duplex built in 2005, fully leased with two units generating $1,800/month each ($3,600 total).
- Each unit features 3 bedrooms and 2.5 bathrooms with carpet and tile flooring.
- Two 2‑car garages per unit with garage door openers.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.7k | $22.56 |
| − Vacancy | −$4.7k | −$1.40 |
| EGI | $71.0k | $21.16 |
| − OpEx | −$32.0k | −$9.52 |
| NOI | $39.1k | $11.64 |
3,356 SF · lease $22.56/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$621.3K
$543.6K – $724.9K
NOI $43,491 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$558.0K
$488.2K – $651.0K
NOI $39,059 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$863.0K
$755.1K – $1.01M
NOI $60,408 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully leased duplex with two units featuring three bedrooms, 2.5 baths, garages, and private fenced backyards.
Where is this duplex located?
The property is located at 6415 Waldron Drive Houston, TX.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Turnkey duplex built in 2005, fully leased with two units generating $1,800/month each ($3,600 total).; Each unit features 3 bedrooms and 2.5 bathrooms with carpet and tile flooring.; Two 2‑car garages per unit with garage door openers.
