Two-Story Duplex With Covered
For Sale
$475,000
6501 Osprey Drive A/B, Houston, TX 77048
Two attached residential units offer updated finishes, private fenced yards, and in-unit laundry areas.
Property Size2,236 SF
Price / SF$212.43
Days on Market101
Property Features for 6501 Osprey Drive A/B
General Information
Standard status
Active
Size
2,236 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,477
Amenities
fenced backyard
covered patio
laundry room
walk-in closets
utility room
Yes
4
Appraiser
Ceiling Fan(s)
3795
Two
Paved
2236
Building Details
Building Size
2,236 SF
Year Built
2020
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Premier Properties
(832) 334-0001
Listed By:
G.G. Corporate Connect
Source:
Garygreene
Added: May 2
Changed: Aug 8
Last Checked: Aug 9 at 6:30AM
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 Berkshire Hathaway HomeServices Premier Properties
Investment Insights
Based on property information with market context.
Completed in 2020, this two-story duplex contains two matching units, each with 2 bedrooms and 1.5 baths. The property totals 2,236 square feet, with first-floor living areas, open kitchen and dining layouts, laundry rooms, and second-floor bedrooms with a full bath. Each residence includes a refrigerator, washer, dryer, dishwasher, and stove/range, along with walk-in closets, ceiling fans, a Rheem water heater, and Trane AC. Both sides also provide a covered patio, fenced backyard, and two parking spaces.
The duplex is located at 6501 Osprey Drive A/B in Houston, near shopping, dining, the Medical Center, and Houston Hobby Airport. Access to 288, I-45, and I-610 is nearby. Both units are currently leased, with tenants permitted to remain for the buyer.
The duplex is located at 6501 Osprey Drive A/B in Houston, near shopping, dining, the Medical Center, and Houston Hobby Airport. Access to 288, I-45, and I-610 is nearby. Both units are currently leased, with tenants permitted to remain for the buyer.
Key Highlights
- Two‑unit duplex totaling 2,236 square feet
- Built in 2020 with 2 bedrooms and 1.5 baths per unit
- Each side includes a fenced backyard and covered patio
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
$29,286
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
6.17%
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%
$585,720
$585.7K
Cap Rate 7%
$418,371
$418.4K
Cap Rate 9%
$325,400
$325.4K
Market Conditions
NOI Build-Up for 2,236 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
$44.3K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$41.8K $18.71/SF
− OpEx
−$12.6K −$5.61/SF
NOI
$29.3K $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%
$585,720
Cap Rate 7%
$418,371
Cap Rate 9%
$325,400
Alternative Uses
Best Use
Multifamily LT 5
$418.4K
$366.1K – $488.1K
NOI $29,286 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$361.9K
$316.7K – $422.2K
NOI $25,332 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$575.0K
$503.1K – $670.8K
NOI $40,248 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 77048, TX
20,536
Population
8,029
Households
2.6
Avg Household Size
33
Median Age
21%
College-Educated
83%
High-School Grad
11.5 sq mi
ZIP Area
1,786
Density / Sq Mi
$54,625
Median Household Income
$36,864
Median Earnings
$1,317
Median Rent
$190,900
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 attached residential units offer updated finishes, private fenced yards, and in-unit laundry areas.
Where is this duplex located?
The property is located at 6501 Osprey Drive A/B Houston, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,236 square feet; Built in 2020 with 2 bedrooms and 1.5 baths per unit; Each side includes a fenced backyard and covered patio
