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 Market47
Property Features for 7118 Eastwood St
General Information
Standard status
Active
Size
3,140 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2026
Stories
2
Tenancy
Multi
Listing Agency:
(832) 500-5426
Listed By:
Nicole Handy · License #0623605
(832) 500-5426
Source:
Elliman
Added: Jun 15
Changed: Jul 10
Last Checked: Jul 31 at 9:10AM
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 Nicole Handy
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.2k | $19.80 |
| − Vacancy | −$3.4k | −$1.09 |
| EGI | $58.8k | $18.71 |
| − OpEx | −$17.6k | −$5.61 |
| NOI | $41.1k | $13.10 |
3,140 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
739
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
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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
