New Construction Duplex with
For Sale
$575,000
8026 Penrod Street Unit A/B, Houston, TX 77028
Two independently configured units offer contemporary interiors, private outdoor space, and attached parking in Houston.
Property Size3,321 SF
Price / SF$173.14
Days on Market9
Property Features for 8026 Penrod Street Unit A/B
General Information
Standard status
Active
Size
3,321 SF
Property subtype
Multi Family,Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Building Size
3,321 SF
Year Built
2026
Buildings
1
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Nancyalmodovar
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 30 at 9:30PM
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 Nextgen Real Estate Properties
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 3,321 square feet across two approximately 1,660-square-foot residences. Each unit includes three bedrooms, 2.5 bathrooms, an open living arrangement, and a kitchen peninsula with waterfall-edge detailing. Interior features include a fireplace, glass stair railings, and illuminated stairs activated by motion sensors.
Primary suites include walk-in closets, dual-sink vanities, freestanding soaking tubs, separate glass-enclosed showers, and backlit accent walls. Each residence also has a one-car garage, an oversized driveway, and a privately fenced backyard. The property is located on Penrod Street in Houston, Texas.
Primary suites include walk-in closets, dual-sink vanities, freestanding soaking tubs, separate glass-enclosed showers, and backlit accent walls. Each residence also has a one-car garage, an oversized driveway, and a privately fenced backyard. The property is located on Penrod Street in Houston, Texas.
Key Highlights
- 2026 construction with 3,321‑square‑foot total building area
- Two residences of approximately 1,660 square feet each
- Each unit includes 3 bedrooms and 2.5 bathrooms
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
$43,497
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
7.56%
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%
$869,940
$869.9K
Cap Rate 7%
$621,386
$621.4K
Cap Rate 9%
$483,300
$483.3K
Market Conditions
NOI Build-Up for 3,321 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
$65.8K $19.80/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$62.1K $18.71/SF
− OpEx
−$18.6K −$5.61/SF
NOI
$43.5K $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%
$869,940
Cap Rate 7%
$621,386
Cap Rate 9%
$483,300
Alternative Uses
Best Use
Multifamily LT 5
$621.4K
$543.7K – $725.0K
NOI $43,497 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$537.5K
$470.3K – $627.1K
NOI $37,624 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$854.0K
$747.2K – $996.3K
NOI $59,778 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independently configured units offer contemporary interiors, private outdoor space, and attached parking in Houston.
Where is this duplex located?
The property is located at 8026 Penrod Street Unit A/B Houston, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2026 construction with 3,321‑square‑foot total building area; Two residences of approximately 1,660 square feet each; Each unit includes 3 bedrooms and 2.5 bathrooms
