Duplex on Acre-Plus
8440 Elrod Street, Houston, TX 77017
For Sale
$241,000
The property is offered in as-is condition on a lot exceeding one acre.
Property Size1,344 SF
Days on Market21
Property Features for 8440 Elrod Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
The Agave Realty Group
Listed By:
Andrea Huerta
(832) 868-4089
Source:
Mpowerrealtygroup
Added: Oct 20
Changed: Nov 7
Last Checked: Nov 8 at 4:26PM
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 The Agave Realty Group
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Investment Insights
Based on property information with market context.
This duplex dates to 1940 and is being offered in as-is condition. The property occupies a lot of more than one acre.
Located at 8440 Elrod Street in Houston, Texas, the property is identified by ZIP code 77017.
Located at 8440 Elrod Street in Houston, Texas, the property is identified by ZIP code 77017.
Key Highlights
- Duplex property
- Lot exceeds 1 acre
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,603
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,060
$352.1K
Cap Rate 7%
$251,471
$251.5K
Cap Rate 9%
$195,589
$195.6K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$26.6K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$25.1K $18.71/SF
− OpEx
−$7.5K −$5.61/SF
NOI
$17.6K $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 Rate 5%
$352,060
Cap Rate 7%
$251,471
Cap Rate 9%
$195,589
Alternative Uses
Best Use
Multifamily LT 5
$251.5K
$220.0K – $293.4K
NOI $17,603 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$217.5K
$190.3K – $253.8K
NOI $15,226 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
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Business Placement
Demographics for 77017, TX
31,659
Population
11,281
Households
2.8
Avg Household Size
34
Median Age
10%
College-Educated
59%
High-School Grad
9.6 sq mi
ZIP Area
3,298
Density / Sq Mi
$53,750
Median Household Income
$32,771
Median Earnings
$1,049
Median Rent
$146,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Houston, TX
Properties on Market for Duplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property is offered in as-is condition on a lot exceeding one acre.
Where is this duplex located?
The property is located at 8440 Elrod Street Houston, TX.
What is the asking price?
The asking price for this property is $241,000.
What are key features of this property?
This property features: Duplex property; Lot exceeds 1 acre; Built in 1940
