New Construction Duplex Income
For Sale
$549,000
7118 Eastwood St, Houston, TX 77021
A completed 2026 duplex with separate metering and private yards, offering flexible living or investment use.
Property Size3,140 SF
Price / SF$174.84
Days on Market98
Property Features for 7118 Eastwood St
General Information
Standard status
Active
Size
3,140 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2026
Stories
2
Tenancy
Multi
Listing Agency:
Braden Real Estate Group
Listed By:
Nicole Handy · License #0623605
(713) 847-6666
Source:
Thebandpteam
Added: Jun 15
Changed: Sep 16
Last Checked: Sep 19 at 11:46AM
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 Braden Real Estate Group
Investment Insights
Based on property information with market context.
Completed in 2026, this two-story duplex provides an approximately 3,140 SF total configuration with 1,570 SF per unit. Each unit includes three bedrooms and 2.5 bathrooms, with private entrances and a separately fenced backyard. Interiors feature open-concept living and dining areas, modern kitchens, and in-unit laundry connections; appliances are not included.
The duplex is located near the Texas Medical Center in Houston, and sits at 7118–7120 Eastwood St. Utilities are separately metered for electric and water, and each unit has its own central A/C system. The property has no HOA, and there is no gas service. The surrounding area is described as having somewhat walkable and bikeable conditions, with limited transit.
This property can fit an investor looking for a duplex with individually metered utilities and private outdoor space, or an owner-occupant seeking the ability to live in one unit while renting the other. With separate entrances, fenced backyards, and independent climate systems, each unit is set up for tenant privacy and operational ease.
The duplex is located near the Texas Medical Center in Houston, and sits at 7118–7120 Eastwood St. Utilities are separately metered for electric and water, and each unit has its own central A/C system. The property has no HOA, and there is no gas service. The surrounding area is described as having somewhat walkable and bikeable conditions, with limited transit.
This property can fit an investor looking for a duplex with individually metered utilities and private outdoor space, or an owner-occupant seeking the ability to live in one unit while renting the other. With separate entrances, fenced backyards, and independent climate systems, each unit is set up for tenant privacy and operational ease.
Key Highlights
- New construction completed in 2026: duplex with 2 units and 3 bedrooms / 2.5 bathrooms per unit
- Approx. 3,140 SF total (1,570 SF per unit) with two‑story layout and open‑concept living and dining areas
- Each unit has a private entrance and separately fenced backyard
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
$41,127
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
7.49%
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%
$822,540
$822.5K
Cap Rate 7%
$587,529
$587.5K
Cap Rate 9%
$456,967
$457.0K
Market Conditions
NOI Build-Up for 3,140 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
$62.2K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$58.8K $18.71/SF
− OpEx
−$17.6K −$5.61/SF
NOI
$41.1K $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%
$822,540
Cap Rate 7%
$587,529
Cap Rate 9%
$456,967
Alternative Uses
Best Use
Multifamily LT 5
$587.5K
$514.1K – $685.5K
NOI $41,127 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$508.2K
$444.7K – $592.9K
NOI $35,574 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$807.4K
$706.5K – $942.0K
NOI $56,520 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
517
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - A completed 2026 duplex with separate metering and private yards, offering flexible living or investment use.
Where is this duplex located?
The property is located at 7118 Eastwood St Houston, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: New construction completed in 2026: duplex with 2 units and 3 bedrooms / 2.5 bathrooms per unit; Approx. 3,140 SF total (1,570 SF per unit) with two‑story layout and open‑concept living and dining areas; Each unit has a private entrance and separately fenced backyard
