Duplex Requiring HVAC
For Sale
$198,000
7146 Avenue I, Houston, TX 77011
Two-unit property sold as-is, with HVAC and kitchen appliances requiring installation before occupancy.
Property Size1,392 SF
Price / SF$142.24
Days on Market43
Property Features for 7146 Avenue I
General Information
Standard status
Active
Size
1,392 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
The property will require some improvements prior to occupancy, including the installation of an HVAC system and kitchen appliances.
Taxes and HOA fees
Annual Taxes
$4,137
Amenities
Vinyl
No
2
5
Owner
3675
Appraiser
1392
Building Details
Building Size
1,392 SF
Year Built
1930
Stories
1
Listing Agency:
Texas Ally Real Estate Group, LLC
(832) 289-8676
Listed By:
Kim Kluge
(832) 289-8676
Source:
Garygreene
Added: Jul 13
Changed: Aug 24
Last Checked: Aug 23 at 9:30AM
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 Texas Ally Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This duplex was built in 1930 and is being offered in its current as-is condition. Improvements are needed before occupancy, including installation of an HVAC system and kitchen appliances. The property’s two-unit configuration provides a defined multifamily layout for renovation and future residential use.
The home is located near major roads, shopping, schools, and local amenities. Sale terms are as-is, with the existing condition and required improvements forming an important part of the property profile.
The home is located near major roads, shopping, schools, and local amenities. Sale terms are as-is, with the existing condition and required improvements forming an important part of the property profile.
Key Highlights
- Duplex configuration
- Built in 1930
- Sold in as‑is condition
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
$15,770
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
7.96%
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%
$315,400
$315.4K
Cap Rate 7%
$225,286
$225.3K
Cap Rate 9%
$175,222
$175.2K
Market Conditions
NOI Build-Up for 1,392 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
$30.6K $21.96/SF
− Vacancy
−$1.9K −$1.36/SF
EGI
$28.7K $20.60/SF
− OpEx
−$12.9K −$9.27/SF
NOI
$15.8K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$315,400
Cap Rate 7%
$225,286
Cap Rate 9%
$175,222
Alternative Uses
Best Use
Multifamily LT 5
$260.5K
$227.9K – $303.9K
NOI $18,232 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$225.3K
$197.1K – $262.8K
NOI $15,770 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$357.9K
$313.2K – $417.6K
NOI $25,056 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,058
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-unit property sold as-is, with HVAC and kitchen appliances requiring installation before occupancy.
Where is this duplex located?
The property is located at 7146 Avenue I 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: Duplex configuration; Built in 1930; Sold in as‑is condition
