Two-Unit Duplex Income
For Sale
$198,000
6843 Avenue K, Houston, TX 77011
Duplex offers two adjacent 1-bed, 1-bath income units with original hardwood floors and ample parking.
Property Size1,080 SF
Price / SF$183.33
Days on Market77
Property Features for 6843 Avenue K
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$3,817
Amenities
Yes
1
Appraiser
3750
Two
1080
Building Details
Building Size
1,080 SF
Year Built
1936
Stories
1
Listing Agency:
eXp Realty LLC
(713) 461-6800
Listed By:
Olivia Kizzee
(346) 520-0471
Source:
Garygreene
Added: Jun 26
Changed: Sep 9
Last Checked: Sep 10 at 6:40AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This duplex features two income-producing units, each configured as a 1-bedroom, 1-bath layout. The units include original hardwood flooring, and the property provides ample parking for occupants and guests.
The property is located near major roadways and is described as being in the EADO area, with proximity to Gus Wortham Golf Course, Gulfgate Shopping Center, Mason Park, and local restaurants and amenities. The remarks note both adjacent properties are available for sale.
Buyer to verify all property details and information.
The property is located near major roadways and is described as being in the EADO area, with proximity to Gus Wortham Golf Course, Gulfgate Shopping Center, Mason Park, and local restaurants and amenities. The remarks note both adjacent properties are available for sale.
Buyer to verify all property details and information.
Key Highlights
- 1936‑built duplex with two income‑generating units
- Each unit features 1 bed and 1 bath
- Original hardwood flooring in both units
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
$14,146
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
7.14%
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%
$282,920
$282.9K
Cap Rate 7%
$202,086
$202.1K
Cap Rate 9%
$157,178
$157.2K
Market Conditions
NOI Build-Up for 1,080 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
$21.4K $19.80/SF
− Vacancy
−$1.2K −$1.09/SF
EGI
$20.2K $18.71/SF
− OpEx
−$6.1K −$5.61/SF
NOI
$14.1K $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%
$282,920
Cap Rate 7%
$202,086
Cap Rate 9%
$157,178
Alternative Uses
Best Use
Multifamily LT 5
$202.1K
$176.8K – $235.8K
NOI $14,146 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$174.8K
$152.9K – $203.9K
NOI $12,235 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$277.7K
$243.0K – $324.0K
NOI $19,440 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
894
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 - Duplex offers two adjacent 1-bed, 1-bath income units with original hardwood floors and ample parking.
Where is this duplex located?
The property is located at 6843 Avenue K Houston, TX.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: 1936‑built duplex with two income‑generating units; Each unit features 1 bed and 1 bath; Original hardwood flooring in both units
