Brand-New Duplex With Open
For Sale
$489,900
6708 Conley Street, Houston, TX 77021
New duplex offers two units, each with three bedrooms and two full bathrooms plus tile flooring and open-concept living areas.
Property Size2,728 SF
Days on Market58
Property Features for 6708 Conley Street
General Information
Standard status
Active
Size
2,728 SF
Property subtype
Multi Family,Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
2,728 SF
Year Built
2026
Tenancy
Multi
Listing Agency:
RE/MAX Signature
Listed By:
Ryan Hicks · License #449718
(832) 524-0398
Source:
Nancyalmodovar
Added: Jul 24
Changed: Sep 14
Last Checked: Sep 18 at 10:27AM
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 RE/MAX Signature
Investment Insights
Based on property information with market context.
Brand-new duplex featuring a popular open-concept floorplan in each unit. Both units are laid out with three bedrooms and two full bathrooms, with tile flooring throughout the main living areas. Kitchens include a spacious island kitchen with quartz counters, designed for daily use and entertaining. Each unit’s primary suite includes a well-appointed bath and walk-in closet, while the secondary bedrooms are sized to support a range of living arrangements.
Conveniently located with quick access to Hwy 288 and within reach of the Texas Medical Center, Museum District, and Downtown.
Each unit includes the core finishes and layout features described, making the property well-suited to consistent, repeatable leasing or owner-occupancy arrangements.
Conveniently located with quick access to Hwy 288 and within reach of the Texas Medical Center, Museum District, and Downtown.
Each unit includes the core finishes and layout features described, making the property well-suited to consistent, repeatable leasing or owner-occupancy arrangements.
Key Highlights
- Brand‑new duplex (Year built 2026) with 2 units
- Each unit features 3 bedrooms and 2 full bathrooms
- Tile flooring throughout main living areas plus open‑concept layout
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
$35,731
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
7.29%
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%
$714,620
$714.6K
Cap Rate 7%
$510,443
$510.4K
Cap Rate 9%
$397,011
$397.0K
Market Conditions
NOI Build-Up for 2,728 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
$54.0K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.0K $18.71/SF
− OpEx
−$15.3K −$5.61/SF
NOI
$35.7K $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%
$714,620
Cap Rate 7%
$510,443
Cap Rate 9%
$397,011
Alternative Uses
Best Use
Multifamily LT 5
$510.4K
$446.6K – $595.5K
NOI $35,731 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$441.5K
$386.3K – $515.1K
NOI $30,906 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$701.5K
$613.8K – $818.4K
NOI $49,104 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 77021, TX
28,055
Population
12,819
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,599
Density / Sq Mi
$45,034
Median Household Income
$38,041
Median Earnings
$1,193
Median Rent
$203,900
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 - New duplex offers two units, each with three bedrooms and two full bathrooms plus tile flooring and open-concept living areas.
Where is this duplex located?
The property is located at 6708 Conley Street Houston, TX.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Brand‑new duplex (Year built 2026) with 2 units; Each unit features 3 bedrooms and 2 full bathrooms; Tile flooring throughout main living areas plus open‑concept layout
