Duplex with Two Separate
For Sale
$325,000
7931 Scanlock Street, Houston, TX 77012
Two-unit duplex with a four-bed main home and separate one-bed apartment; tenant occupied on a month-to-month basis.
Property Size2,518 SF
Price / SF$129.07
Days on Market153
Property Features for 7931 Scanlock Street
General Information
Standard status
Active
Size
2,518 SF
Property subtype
Income
Net Operating Income
$17,529
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,792
Amenities
Yes
3
4
Appraiser
7500
2518
Building Details
Building Size
2,518 SF
Year Built
1940
Stories
1
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(281) 444-5140
Listed By:
Patricia Castro · License #0652220
(281) 236-3181
Source:
Garygreene
Added: Apr 6
Changed: Sep 4
Last Checked: Sep 4 at 3:57AM
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.
This duplex at 7931 Scanlock Street, Houston, TX 77012 features two separate living units. The spacious main home offers 4 bedrooms and 2.5 bathrooms, including a private upstairs suite suited for guests or extended family use. A second unit provides a comfortable 1-bedroom, 1-bath apartment with its own entrance.
The property is currently tenant occupied on a month-to-month basis and is producing $2,800 per month in gross rents. It is positioned near schools, parks, and major roadways, offering convenient day-to-day access while maintaining an income-producing setup.
With its clear separation of the two units and independent access for the apartment, the property may appeal to buyers looking to live on-site while retaining rental income from the second unit.
The property is currently tenant occupied on a month-to-month basis and is producing $2,800 per month in gross rents. It is positioned near schools, parks, and major roadways, offering convenient day-to-day access while maintaining an income-producing setup.
With its clear separation of the two units and independent access for the apartment, the property may appeal to buyers looking to live on-site while retaining rental income from the second unit.
Key Highlights
- Two‑unit property at 7931 Scanlock Street with separate living units for owner‑occupant or rental income
- Main home: 4 bedrooms and 2.5 baths with a private upstairs suite
- Second unit: 1‑bedroom, 1‑bath apartment with its own entrance
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
$28,527
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
8.78%
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%
$570,540
$570.5K
Cap Rate 7%
$407,529
$407.5K
Cap Rate 9%
$316,967
$317.0K
Market Conditions
NOI Build-Up for 2,518 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
$55.3K $21.96/SF
− Vacancy
−$3.4K −$1.36/SF
EGI
$51.9K $20.60/SF
− OpEx
−$23.3K −$9.27/SF
NOI
$28.5K $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%
$570,540
Cap Rate 7%
$407,529
Cap Rate 9%
$316,967
Alternative Uses
Best Use
Multifamily LT 5
$471.1K
$412.3K – $549.7K
NOI $32,980 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$407.5K
$356.6K – $475.5K
NOI $28,527 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$647.5K
$566.6K – $755.4K
NOI $45,324 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 77012, TX
18,397
Population
6,867
Households
2.7
Avg Household Size
33
Median Age
10%
College-Educated
59%
High-School Grad
3.9 sq mi
ZIP Area
4,717
Density / Sq Mi
$48,287
Median Household Income
$34,012
Median Earnings
$944
Median Rent
$127,400
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 - Two-unit duplex with a four-bed main home and separate one-bed apartment; tenant occupied on a month-to-month basis.
Where is this duplex located?
The property is located at 7931 Scanlock Street Houston, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit property at 7931 Scanlock Street with separate living units for owner‑occupant or rental income; Main home: 4 bedrooms and 2.5 baths with a private upstairs suite; Second unit: 1‑bedroom, 1‑bath apartment with its own entrance
