New Construction
For Sale
$490,000
763 Fair Street, Houston, TX 77088
Completed two-story duplex with open layouts, natural light, and access to major Houston-area routes.
Property Size2,626 SF
Price / SF$186.60
Days on Market22
Property Features for 763 Fair Street
General Information
Standard status
Active
Size
2,626 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
Yes
Builder
7200
Other
2626
Building Details
Building Size
2,626 SF
Year Built
2026
Buildings
1
Stories
2
Listing Agency:
eXp Realty LLC
(281) 923-1628
Listed By:
Jamie Maricelli
(281) 923-1628
Source:
Garygreene
Added: Aug 12
Changed: Aug 31
Last Checked: Sep 1 at 3:14PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this modern duplex contains two separate residences within a contemporary new-construction design. Each unit spans two stories and features an open-concept arrangement, strong natural light, and a floor plan suited to daily living and entertaining. The property is complete and ready for occupancy or ownership use.
Located in Houston with access to US-290, I-45, and Beltway 8, the duplex provides connections to Downtown Houston and surrounding areas. The property is positioned on a spacious lot with outdoor area available to residents. Its two-unit configuration supports owner-occupancy with rental income potential or use as an income-producing residential property.
Located in Houston with access to US-290, I-45, and Beltway 8, the duplex provides connections to Downtown Houston and surrounding areas. The property is positioned on a spacious lot with outdoor area available to residents. Its two-unit configuration supports owner-occupancy with rental income potential or use as an income-producing residential property.
Key Highlights
- Two‑unit duplex completed in 2026
- Each residence features a two‑story layout
- Open‑concept interiors with abundant natural light
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
$34,395
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
7.02%
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%
$687,900
$687.9K
Cap Rate 7%
$491,357
$491.4K
Cap Rate 9%
$382,167
$382.2K
Market Conditions
NOI Build-Up for 2,626 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
$52.0K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.1K $18.71/SF
− OpEx
−$14.7K −$5.61/SF
NOI
$34.4K $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%
$687,900
Cap Rate 7%
$491,357
Cap Rate 9%
$382,167
Alternative Uses
Best Use
Multifamily LT 5
$491.4K
$429.9K – $573.3K
NOI $34,395 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$425.0K
$371.9K – $495.8K
NOI $29,750 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$675.3K
$590.9K – $787.8K
NOI $47,268 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Explore this area
Business Placement
Demographics for 77088, TX
54,320
Population
18,500
Households
2.9
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
11.1 sq mi
ZIP Area
4,894
Density / Sq Mi
$52,549
Median Household Income
$32,015
Median Earnings
$1,177
Median Rent
$173,900
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 - Completed two-story duplex with open layouts, natural light, and access to major Houston-area routes.
Where is this duplex located?
The property is located at 763 Fair Street Houston, TX.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; Each residence features a two‑story layout; Open‑concept interiors with abundant natural light
