Two-Story Duplex with
For Sale
$599,000
8715 Ilona Lane, Houston, TX 77025
Two residences offer hardwood flooring, formal living and dining areas, separate utility meters, and backyard space.
Property Size3,346 SF
Days on Market8
Property Features for 8715 Ilona Lane
General Information
Standard status
Active
Size
3,346 SF
Property subtype
Multi Family,Duplex
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,958
Building Details
Building Size
3,346 SF
Year Built
1956
Buildings
1
Stories
2
Listing Agency:
Hallmark Properties, Inc.
(713) 666-3400
Listed By:
Steve Anton
(713) 666-3400
Source:
Nancyalmodovar
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 30 at 9:10PM
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 Hallmark Properties, Inc.
Investment Insights
Based on property information with market context.
Built in 1956, this two-story duplex contains two residences, each with 3 bedrooms and 2 baths. The interiors include hardwood floors, formal living and dining rooms, an open and bright floorplan, and a primary bedroom with a walk-in closet. The third bedroom in each residence can also serve as a home office.
A wide carport provides covered parking for occupants, while the property also includes a good-sized backyard. Electric and gas service are separately metered for each residence. Longfellow Elementary is located nearby, and the property is minutes from the Med Center.
A wide carport provides covered parking for occupants, while the property also includes a good-sized backyard. Electric and gas service are separately metered for each residence. Longfellow Elementary is located nearby, and the property is minutes from the Med Center.
Key Highlights
- Two‑story duplex with 3 bedrooms and 2 baths in each residence
- Built in 1956
- Hardwood floors, formal living and dining rooms, and open floorplans
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
$43,825
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
7.32%
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%
$876,500
$876.5K
Cap Rate 7%
$626,071
$626.1K
Cap Rate 9%
$486,944
$486.9K
Market Conditions
NOI Build-Up for 3,346 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
$66.3K $19.80/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$62.6K $18.71/SF
− OpEx
−$18.8K −$5.61/SF
NOI
$43.8K $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%
$876,500
Cap Rate 7%
$626,071
Cap Rate 9%
$486,944
Alternative Uses
Best Use
Multifamily LT 5
$626.1K
$547.8K – $730.4K
NOI $43,825 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$541.5K
$473.8K – $631.8K
NOI $37,907 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$860.4K
$752.9K – $1.00M
NOI $60,228 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 77025, TX
28,510
Population
15,752
Households
1.8
Avg Household Size
38
Median Age
71%
College-Educated
95%
High-School Grad
4.5 sq mi
ZIP Area
6,336
Density / Sq Mi
$78,076
Median Household Income
$61,238
Median Earnings
$1,484
Median Rent
$521,300
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 - Two residences offer hardwood flooring, formal living and dining areas, separate utility meters, and backyard space.
Where is this duplex located?
The property is located at 8715 Ilona Lane Houston, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑story duplex with 3 bedrooms and 2 baths in each residence; Built in 1956; Hardwood floors, formal living and dining rooms, and open floorplans
