Corner-Lot
For Sale
$465,000
Pending
9001 Pagewood Ln, Houston, TX 77063
Two-unit residential property with one three-bedroom unit and one two-bedroom unit.
Property Size2,024 SF
Days on Market152
Property Features for 9001 Pagewood Ln
General Information
Standard status
Pending
Size
2,024 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,127
Listing Agency:
Keller Williams Memorial
(281) 904-7014
Listed By:
Genevieve Rowland
(281) 904-7014
Source:
Exprealty
Added: Apr 3
Changed: Aug 31
Last Checked: Aug 31 at 6:16PM
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 Keller Williams Memorial
Investment Insights
Based on property information with market context.
This 2,024-square-foot duplex at 9001 Pagewood Ln in Houston, Texas, contains two distinct residential units. The configuration includes one three-bedroom, one-bath unit and one two-bedroom, one-bath unit, providing a combined five bedrooms and two bathrooms.
The property occupies a large corner lot and is positioned for residential rental use or an owner-occupied arrangement with additional rental income. No mandatory HOA or monthly fees are associated with the property.
The property occupies a large corner lot and is positioned for residential rental use or an owner-occupied arrangement with additional rental income. No mandatory HOA or monthly fees are associated with the property.
Key Highlights
- 2,024‑square‑foot duplex at 9001 Pagewood Ln, Houston, TX
- Unit mix includes 3/1 and 2/1 layouts
- Large corner lot
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
$26,510
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
5.70%
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%
$530,200
$530.2K
Cap Rate 7%
$378,714
$378.7K
Cap Rate 9%
$294,556
$294.6K
Market Conditions
NOI Build-Up for 2,024 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
$40.1K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.9K $18.71/SF
− OpEx
−$11.4K −$5.61/SF
NOI
$26.5K $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%
$530,200
Cap Rate 7%
$378,714
Cap Rate 9%
$294,556
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.4K – $441.8K
NOI $26,510 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$327.6K
$286.6K – $382.2K
NOI $22,930 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$520.5K
$455.4K – $607.2K
NOI $36,432 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 77063, TX
38,298
Population
22,625
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,511
Density / Sq Mi
$54,509
Median Household Income
$40,346
Median Earnings
$1,334
Median Rent
$281,300
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-unit residential property with one three-bedroom unit and one two-bedroom unit.
Where is this duplex located?
The property is located at 9001 Pagewood Ln Houston, TX.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,024‑square‑foot duplex at 9001 Pagewood Ln, Houston, TX; Unit mix includes 3/1 and 2/1 layouts; Large corner lot
