Duplex Investment
For Sale
$235,000
8034 Record Street, Houston, TX 77028
1950-built duplexes with move-in ready, rent-ready two-bedroom, one-bath units.
Property Size1,080 SF
Price / SF$217.59
Days on Market51
Property Features for 8034 Record Street
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$2,225
Amenities
1
2
Appraiser
7020
1080
Building Details
Building Size
1,080 SF
Year Built
1950
Stories
1
Listing Agency:
TAS Realty Group
(713) 965-0812
Listed By:
Amy Wallner
(713) 806-3893
Source:
Garygreene
Added: Jul 27
Changed: Sep 14
Last Checked: Sep 15 at 6:09AM
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 TAS Realty Group
Investment Insights
Based on property information with market context.
These duplexes at 8034 Record St offer two-bedroom, one-bath units described as move-in ready and rent-ready. The property is positioned for consistent rental income, with each unit laid out as a straightforward residential configuration for day-to-day occupancy.
Built in 1950, the duplexes are in a car-dependent area based on transit, bike, and walk scores provided with the property information. BikeScore is 28 (Somewhat Bikeable), walkScore is 5 (Car-Dependent), and transitScore is 37 (Some Transit), which may help inform tenant and access expectations.
For investors evaluating small multifamily assets, this property provides a unit mix focused on two-bedroom, one-bath apartments and a clear, operationally simple residential setup.
Built in 1950, the duplexes are in a car-dependent area based on transit, bike, and walk scores provided with the property information. BikeScore is 28 (Somewhat Bikeable), walkScore is 5 (Car-Dependent), and transitScore is 37 (Some Transit), which may help inform tenant and access expectations.
For investors evaluating small multifamily assets, this property provides a unit mix focused on two-bedroom, one-bath apartments and a clear, operationally simple residential setup.
Key Highlights
- Two‑bedroom, one‑bath duplex units described as move‑in ready and rent‑ready
- Year built: 1950
- 8034 Record St, Houston, TX 77028
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
$14,146
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
6.02%
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%
$282,920
$282.9K
Cap Rate 7%
$202,086
$202.1K
Cap Rate 9%
$157,178
$157.2K
Market Conditions
NOI Build-Up for 1,080 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
$21.4K $19.80/SF
− Vacancy
−$1.2K −$1.09/SF
EGI
$20.2K $18.71/SF
− OpEx
−$6.1K −$5.61/SF
NOI
$14.1K $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%
$282,920
Cap Rate 7%
$202,086
Cap Rate 9%
$157,178
Alternative Uses
Best Use
Multifamily LT 5
$202.1K
$176.8K – $235.8K
NOI $14,146 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$174.8K
$152.9K – $203.9K
NOI $12,235 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$277.7K
$243.0K – $324.0K
NOI $19,440 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
226
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - 1950-built duplexes with move-in ready, rent-ready two-bedroom, one-bath units.
Where is this duplex located?
The property is located at 8034 Record Street Houston, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath duplex units described as move‑in ready and rent‑ready; Year built: 1950; 8034 Record St, Houston, TX 77028
