Duplex with Private
New
For Sale
$405,000
8534 Woodlyn Rd, Houston, TX 77028
Section 8-approved duplex with fenced outdoor space and recently built interiors configured for residential occupancy.
Property Size3,230 SF
Days on Market6
Property Features for 8534 Woodlyn Rd
General Information
Standard status
Active
Size
3,230 SF
Property subtype
Investment
Lease Term
12 months
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,218
Amenities
private fenced backyard
individual garage
gated property
Building Details
Building Size
3,230 SF
Year Built
2021
Stories
2
Units
2
Listed By:
Katherine Hines
(832) 402-4488
Source:
Elliman
Added: Sep 5
Changed: Sep 8
Last Checked: Sep 10 at 10:09AM
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 Katherine Hines
Investment Insights
Based on property information with market context.
Built in 2021, this gated duplex includes two residential units with a practical bedroom-up configuration. Each unit contains 3 bedrooms, 2.5 bathrooms, no carpet, a private fenced backyard, and an individual garage. The property is approved for Section 8 housing and is offered in its current condition, providing a defined setup for an investor or owner-occupant.
Located at 8534 Woodlyn Rd in Houston, the property records a Walk Score of 6, a Bike Score of 28, and a Transit Score of 32. These ratings indicate a car-dependent setting with some transit access and limited bike connectivity.
Located at 8534 Woodlyn Rd in Houston, the property records a Walk Score of 6, a Bike Score of 28, and a Transit Score of 32. These ratings indicate a car-dependent setting with some transit access and limited bike connectivity.
Key Highlights
- Duplex built in 2021
- Section 8‑approved property
- Each unit has 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
$36,593
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
9.04%
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%
$731,860
$731.9K
Cap Rate 7%
$522,757
$522.8K
Cap Rate 9%
$406,589
$406.6K
Market Conditions
NOI Build-Up for 3,230 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
$70.9K $21.96/SF
− Vacancy
−$4.4K −$1.36/SF
EGI
$66.5K $20.60/SF
− OpEx
−$29.9K −$9.27/SF
NOI
$36.6K $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%
$731,860
Cap Rate 7%
$522,757
Cap Rate 9%
$406,589
Alternative Uses
Best Use
Multifamily LT 5
$604.4K
$528.8K – $705.1K
NOI $42,306 @ 7.0% cap · market cap 10.45%
Second Best
Apartment 5plus
$522.8K
$457.4K – $609.9K
NOI $36,593 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$830.6K
$726.8K – $969.0K
NOI $58,140 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
303
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 - Section 8-approved duplex with fenced outdoor space and recently built interiors configured for residential occupancy.
Where is this duplex located?
The property is located at 8534 Woodlyn Rd Houston, TX.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Duplex built in 2021; Section 8‑approved property; Each unit has 3 bedrooms and 2.5 bathrooms
