Renovated Two-Unit
For Sale
$485,000
7529 Westover Street, Houston, TX 77087
Fully occupied duplex with two renovated two-bedroom, one-bath units, each featuring in-unit washer/dryer and gated parking.
Property Size1,975 SF
Price / SF$245.57
Days on Market41
Property Features for 7529 Westover Street
General Information
Standard status
Active
Size
1,975 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
garden soaking tub
in-unit washer/dryer
gated parking
Plank,Tile,Vinyl
Yes
1
2
Window Coverings
Owner
Window Treatments,Ceiling Fan(s)
Cleared
10252
One
Appraiser
Electric Gate
1975
Building Details
Building Size
1,975 SF
Year Built
1955
Stories
1
Tenancy
Multi
Listing Agency:
JP Land & Homes, LLC
(216) 534-7328
Listed By:
Timothy Davis · License #0749509
(216) 534-7328
Source:
Garygreene
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 30 at 2:00PM
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 JP Land & Homes, LLC
Investment Insights
Based on property information with market context.
This beautifully renovated mid-century duplex is offered fully occupied. It features two matching units with two bedrooms and one bathroom each, with all-new appliances, new cabinetry, and fully refinished interiors throughout. Each unit also includes a garden soaking tub and an in-unit washer/dryer, along with gated parking.
The property is located at 7529 Westover St in Houston, TX 77087. Mobility indicators listed for the area are bikeScore 42 (Somewhat Bikeable), walkScore 52 (Somewhat Walkable), and transitScore 41 (Some Transit).
Buyer should verify all measurements. All information is provided as stated in the remarks, and prospective purchasers are encouraged to conduct their own due diligence.
The property is located at 7529 Westover St in Houston, TX 77087. Mobility indicators listed for the area are bikeScore 42 (Somewhat Bikeable), walkScore 52 (Somewhat Walkable), and transitScore 41 (Some Transit).
Buyer should verify all measurements. All information is provided as stated in the remarks, and prospective purchasers are encouraged to conduct their own due diligence.
Key Highlights
- 1955‑built mid‑century duplex with two renovated 2‑bedroom, 1‑bath units
- Both units are fully renovated with all‑new appliances and new cabinetry
- Each unit includes a garden soaking tub and in‑unit washer/dryer
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
$25,868
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
5.33%
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%
$517,360
$517.4K
Cap Rate 7%
$369,543
$369.5K
Cap Rate 9%
$287,422
$287.4K
Market Conditions
NOI Build-Up for 1,975 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
$39.1K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.0K $18.71/SF
− OpEx
−$11.1K −$5.61/SF
NOI
$25.9K $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%
$517,360
Cap Rate 7%
$369,543
Cap Rate 9%
$287,422
Alternative Uses
Best Use
Multifamily LT 5
$369.5K
$323.4K – $431.1K
NOI $25,868 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$319.6K
$279.7K – $372.9K
NOI $22,375 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$507.9K
$444.4K – $592.5K
NOI $35,550 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
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 - Fully occupied duplex with two renovated two-bedroom, one-bath units, each featuring in-unit washer/dryer and gated parking.
Where is this duplex located?
The property is located at 7529 Westover Street Houston, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1955‑built mid‑century duplex with two renovated 2‑bedroom, 1‑bath units; Both units are fully renovated with all‑new appliances and new cabinetry; Each unit includes a garden soaking tub and in‑unit washer/dryer
