Renovated
For Sale
$259,000
6618 Ave N, Houston, TX 77011
Two residential units offer private living, kitchen, dining, and laundry areas under shared utility metering.
Property Size1,365 SF
Price / SF$189.74
Days on Market51
Property Features for 6618 Ave N
General Information
Standard status
Active
Size
1,365 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Amenities
central AC
laundry room
Building Details
Year Built
1930
Listing Agency:
Realty World Homes & Estates
Listed By:
Maria Maldonado · License #0617281
(281) 815-7121
Source:
Doorstephomegroup
Added: Jul 14
Changed: Aug 30
Last Checked: Sep 1 at 10:52PM
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 Realty World Homes & Estates
Investment Insights
Based on property information with market context.
This duplex, built in 1930, has undergone extensive updates to its foundation, plumbing, central air conditioning, electrical meter and box, and hot water heaters. Each unit includes one bedroom along with a living area, kitchen, dining space, and laundry room.
Electricity, water, and gas are served through a single meter for the property. The building is located at 6618 Avenue N in Houston’s East End area and has no HOA. Both units provide a defined residential layout with separate living and service areas.
Electricity, water, and gas are served through a single meter for the property. The building is located at 6618 Avenue N in Houston’s East End area and has no HOA. Both units provide a defined residential layout with separate living and service areas.
Key Highlights
- Two‑unit duplex with one bedroom in each unit
- Updates include foundation, plumbing, central AC, electrical equipment, and hot water heaters
- Each unit has living, kitchen, dining, and laundry areas
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
$17,878
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
6.90%
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%
$357,560
$357.6K
Cap Rate 7%
$255,400
$255.4K
Cap Rate 9%
$198,644
$198.6K
Market Conditions
NOI Build-Up for 1,365 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
$27.0K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$25.5K $18.71/SF
− OpEx
−$7.7K −$5.61/SF
NOI
$17.9K $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 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%
$357,560
Cap Rate 7%
$255,400
Cap Rate 9%
$198,644
Alternative Uses
Best Use
Multifamily LT 5
$255.4K
$223.5K – $298.0K
NOI $17,878 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$220.9K
$193.3K – $257.7K
NOI $15,464 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$351.0K
$307.1K – $409.5K
NOI $24,570 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
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 residential units offer private living, kitchen, dining, and laundry areas under shared utility metering.
Where is this duplex located?
The property is located at 6618 Ave N Houston, TX.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom in each unit; Updates include foundation, plumbing, central AC, electrical equipment, and hot water heaters; Each unit has living, kitchen, dining, and laundry areas
