Two-Story Duplex with
For Sale
$599,000
8715 Ilona Ln, Houston, TX 77025
Two residences offer hardwood flooring, formal living and dining areas, separate utility meters, and backyard space.
Property Size3,346 SF
Price / SF$179.02
Days on Market53
Property Features for 8715 Ilona Ln
General Information
Standard status
Active
Size
3,346 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1956
Buildings
1
Stories
2
Listing Agency:
Hallmark Properties, Inc.
Listed By:
Steve Anton
(713) 666-3400
Source:
Nova-era
Added: Aug 26
Changed: Oct 2
Last Checked: Oct 7 at 1:37PM
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.
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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 / Yr
$43,825
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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 Ln 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
