Two-Unit
For Sale
$208,500
817 Church St, Crosby, TX 77532
Separate front and rear residences provide a three-bedroom and two-bedroom unit mix.
Property Size2,136 SF
Price / SF$97.61
Days on Market16
Property Features for 817 Church St
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3/1, 1 x 2/1
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Real Broker, LLC
(936) 402-5395
Listed By:
Ricki Robling
Source:
Poprealty
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 11:42AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2,136-square-foot duplex, built in 1950, contains two separate residential units. The front residence offers three bedrooms and one bathroom, while the rear residence includes two bedrooms and one bathroom. The property is offered in its current as-is condition.
Located in Old Town Crosby, the duplex sits across from the fairgrounds at 817 Church St. Its established setting and two-unit configuration support continued residential income use, subject to the property’s existing condition and operating arrangements.
Located in Old Town Crosby, the duplex sits across from the fairgrounds at 817 Church St. Its established setting and two-unit configuration support continued residential income use, subject to the property’s existing condition and operating arrangements.
Key Highlights
- Two‑unit duplex with a 3/1 front residence and 2/1 rear residence
- 2,136 square feet of total building area
- Built in 1950
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
$16,322
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
7.83%
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%
$326,440
$326.4K
Cap Rate 7%
$233,171
$233.2K
Cap Rate 9%
$181,356
$181.4K
Market Conditions
NOI Build-Up for 2,136 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
$25.6K $12.00/SF
− Vacancy
−$2.3K −$1.08/SF
EGI
$23.3K $10.92/SF
− OpEx
−$7.0K −$3.27/SF
NOI
$16.3K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /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%
$326,440
Cap Rate 7%
$233,171
Cap Rate 9%
$181,356
Alternative Uses
Best Use
Multifamily LT 5
$233.2K
$204.0K – $272.0K
NOI $16,322 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$202.3K
$177.0K – $236.0K
NOI $14,162 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$583.2K
$510.3K – $680.5K
NOI $40,827 @ 7.0% cap · market cap 19.58%
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
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 77532, TX
34,679
Population
12,327
Households
2.8
Avg Household Size
36
Median Age
20%
College-Educated
91%
High-School Grad
82.5 sq mi
ZIP Area
420
Density / Sq Mi
$89,740
Median Household Income
$47,202
Median Earnings
$1,190
Median Rent
$243,700
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 - Separate front and rear residences provide a three-bedroom and two-bedroom unit mix.
Where is this duplex located?
The property is located at 817 Church St Crosby, TX.
What is the asking price?
The asking price for this property is $208,500.
What are key features of this property?
This property features: Two‑unit duplex with a 3/1 front residence and 2/1 rear residence; 2,136 square feet of total building area; Built in 1950
