Separate-Homes
For Sale
$349,900
Pending
7001 Avenue P, Houston, TX 77011
Two detached residences offer separate utility meters and flexible occupancy arrangements.
Property Size1,216 SF
Days on Market49
Property Features for 7001 Avenue P
General Information
Standard status
Pending
Size
1,216 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,551
Amenities
washer/dryer connections
Listing Agency:
Realty World Homes & Estates
(832) 239-7788
Listed By:
Maria Maldonado · License #0617281
(832) 239-7788
Source:
Exprealty
Added: Jun 25
Changed: Aug 7
Last Checked: Aug 12 at 1:16PM
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 Houston duplex comprises two separate homes with independent utility meters and 1,216 square feet of total property size. The front residence provides two bedrooms and one bathroom, washer and dryer connections, and remodeling completed in 2023. The rear home includes one bedroom, one bathroom, laundry connections, a spacious closet, and Whirlpool appliances. One residence is tenant occupied and generates monthly income, while the separate layouts can accommodate an owner-occupant and a rental arrangement.
Key Highlights
- Two separate homes with independent utility meters
- Front home offers 2 bedrooms, 1 bathroom, and washer and dryer connections
- Front residence was completely remodeled in 2023
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
$15,927
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
4.55%
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%
$318,540
$318.5K
Cap Rate 7%
$227,529
$227.5K
Cap Rate 9%
$176,967
$177.0K
Market Conditions
NOI Build-Up for 1,216 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
$24.1K $19.80/SF
− Vacancy
−$1.3K −$1.09/SF
EGI
$22.8K $18.71/SF
− OpEx
−$6.8K −$5.61/SF
NOI
$15.9K $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%
$318,540
Cap Rate 7%
$227,529
Cap Rate 9%
$176,967
Alternative Uses
Best Use
Multifamily LT 5
$227.5K
$199.1K – $265.5K
NOI $15,927 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$196.8K
$172.2K – $229.6K
NOI $13,776 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$312.7K
$273.6K – $364.8K
NOI $21,888 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
631
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 detached residences offer separate utility meters and flexible occupancy arrangements.
Where is this duplex located?
The property is located at 7001 Avenue P Houston, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two separate homes with independent utility meters; Front home offers 2 bedrooms, 1 bathroom, and washer and dryer connections; Front residence was completely remodeled in 2023
