Renovated Duplex on Large
For Sale
$249,999
7301 Avenue K A B, Houston, TX 77011
Two-unit residential property with one updated unit and a second unit suited to cosmetic improvements.
Property Size1,720 SF
Price / SF$145.35
Days on Market75
Property Features for 7301 Avenue K A B
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$7,563
Amenities
2
3
Appraiser
CeilingFans
6625
1720
Building Details
Building Size
1,720 SF
Year Built
1938
Stories
2
Listing Agency:
First Millennium Realty
(281) 486-1900
Listed By:
Pam Butler
(281) 386-6699
Source:
Garygreene
Added: Jun 20
Changed: Sep 2
Last Checked: Sep 1 at 3:33PM
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 First Millennium Realty
Investment Insights
Based on property information with market context.
This 1,720-square-foot duplex, built in 1938, contains two residential units with a three-bedroom, two-bathroom layout in each. One unit has been renovated with updated finishes, while the other is positioned for cosmetic work or further customization. The property is being offered as-is and sits on an oversized lot, providing flexibility for continued duplex use or future redevelopment as supported by local plans and requirements.
The property is located at 7301 Avenue K A B in Houston’s EADO district, approximately half a mile from major new development and minutes from downtown Houston. Ceiling fans are included among the interior features.
The property is located at 7301 Avenue K A B in Houston’s EADO district, approximately half a mile from major new development and minutes from downtown Houston. Ceiling fans are included among the interior features.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms per unit
- 1,720 square feet on an oversized lot
- One unit renovated with updated finishes
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
$22,528
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
9.01%
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%
$450,560
$450.6K
Cap Rate 7%
$321,829
$321.8K
Cap Rate 9%
$250,311
$250.3K
Market Conditions
NOI Build-Up for 1,720 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
$34.1K $19.80/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$32.2K $18.71/SF
− OpEx
−$9.7K −$5.61/SF
NOI
$22.5K $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%
$450,560
Cap Rate 7%
$321,829
Cap Rate 9%
$250,311
Alternative Uses
Best Use
Multifamily LT 5
$321.8K
$281.6K – $375.5K
NOI $22,528 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$278.4K
$243.6K – $324.8K
NOI $19,486 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$442.3K
$387.0K – $516.0K
NOI $30,960 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
895
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 residential property with one updated unit and a second unit suited to cosmetic improvements.
Where is this duplex located?
The property is located at 7301 Avenue K A B Houston, TX.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms per unit; 1,720 square feet on an oversized lot; One unit renovated with updated finishes
