Modern Duplex With Furnished
For Sale
$390,000
Pending
7119 Palestine Street, Houston, TX 77020
Two side-by-side units each offer 3 bedrooms and 2 full baths with open-concept layouts and stainless appliances.
Property Size2,100 SF
Days on Market65
Property Features for 7119 Palestine Street
General Information
Standard status
Pending
Size
2,100 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$7,630
Amenities
Plank,Vinyl
Yes
2
3
txbroker@compass.com
Washer Hookup,Dryer Hookup
Appraiser
Quartz Counters
6575
2100
Building Details
Building Size
2,100 SF
Year Built
2022
Stories
1
Listing Agency:
C. E. Muegge Real Estate
(713) 461-6800
Listed By:
Ashley Guerrero
(832) 692-0094
Source:
Garygreene
Added: Jul 6
Changed: Sep 7
Last Checked: Sep 7 at 6:34AM
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 C. E. Muegge Real Estate
Investment Insights
Based on property information with market context.
This modern duplex is an income-producing property with two well-appointed units. Each unit features 3 bedrooms and 2 full baths, with open-concept living spaces and durable vinyl plank flooring. Kitchens include quartz countertops and stainless steel appliances, along with contemporary finishes throughout. The duplex can be sold fully furnished, supporting immediate occupancy or rental use.
The property is located just minutes from Downtown Houston. WalkScore is listed as 79 (very walkable) and bikeScore is 78 (very bikeable), with transitScore 50 (good transit).
As configured, the duplex offers a straightforward two-unit layout well suited to buyers seeking a turnkey setup for either short-term or long-term rental purposes.
The property is located just minutes from Downtown Houston. WalkScore is listed as 79 (very walkable) and bikeScore is 78 (very bikeable), with transitScore 50 (good transit).
As configured, the duplex offers a straightforward two-unit layout well suited to buyers seeking a turnkey setup for either short-term or long-term rental purposes.
Key Highlights
- Modern duplex built in 2022 with two side‑by‑side units.
- Each unit features 3 bedrooms and 2 full baths with an open‑concept layout.
- Vinyl plank flooring, quartz countertops, and stainless steel appliances 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
$27,505
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
7.05%
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%
$550,100
$550.1K
Cap Rate 7%
$392,929
$392.9K
Cap Rate 9%
$305,611
$305.6K
Market Conditions
NOI Build-Up for 2,100 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
$41.6K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.3K $18.71/SF
− OpEx
−$11.8K −$5.61/SF
NOI
$27.5K $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%
$550,100
Cap Rate 7%
$392,929
Cap Rate 9%
$305,611
Alternative Uses
Best Use
Multifamily LT 5
$392.9K
$343.8K – $458.4K
NOI $27,505 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$339.9K
$297.4K – $396.5K
NOI $23,791 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$540.0K
$472.5K – $630.0K
NOI $37,800 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
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 side-by-side units each offer 3 bedrooms and 2 full baths with open-concept layouts and stainless appliances.
Where is this duplex located?
The property is located at 7119 Palestine Street Houston, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Modern duplex built in 2022 with two side‑by‑side units.; Each unit features 3 bedrooms and 2 full baths with an open‑concept layout.; Vinyl plank flooring, quartz countertops, and stainless steel appliances in both units.
