New Construction
New
For Sale
$610,000
902 Ringold St A/B, Houston, TX 77088
Two residences offer private entries, outdoor areas, and attached garages on a corner lot.
Property Size2,960 SF
Days on Market4
Property Features for 902 Ringold St A/B
General Information
Standard status
Active
Size
2,960 SF
Total Parking Spaces
4
Property subtype
Investment
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Parking per Unit
2
Amenities
fireplace
private entrance
outdoor space
Building Details
Building Size
2,960 SF
Year Built
2026
Buildings
1
Stories
2
Units
1
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 10:19AM
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 Nextgen Real Estate Properties
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two separately entered residences, each with 3 bedrooms, 3 baths, and a private 2-car garage. Interior features include high ceilings, large windows, a living-area fireplace, and kitchens finished with wood cabinetry and waterfall islands.
Primary suites include freestanding tubs, glass-enclosed showers, dual floating vanities, and walk-in closets. Secondary bathrooms continue the contemporary finish package, while each residence also provides its own outdoor area. The property occupies a corner lot in Houston’s Highland Heights area.
Primary suites include freestanding tubs, glass-enclosed showers, dual floating vanities, and walk-in closets. Secondary bathrooms continue the contemporary finish package, while each residence also provides its own outdoor area. The property occupies a corner lot in Houston’s Highland Heights area.
Key Highlights
- Duplex with two residences, each offering 3 bedrooms and 3 baths
- Each residence includes a private 2‑car garage, separate entrance, and outdoor area
- Built in 2026 on a corner lot in Houston’s Highland Heights area
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
$38,769
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
6.36%
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%
$775,380
$775.4K
Cap Rate 7%
$553,843
$553.8K
Cap Rate 9%
$430,767
$430.8K
Market Conditions
NOI Build-Up for 2,960 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
$58.6K $19.80/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$55.4K $18.71/SF
− OpEx
−$16.6K −$5.61/SF
NOI
$38.8K $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%
$775,380
Cap Rate 7%
$553,843
Cap Rate 9%
$430,767
Alternative Uses
Best Use
Multifamily LT 5
$553.8K
$484.6K – $646.2K
NOI $38,769 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$479.1K
$419.2K – $558.9K
NOI $33,534 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$761.1K
$666.0K – $888.0K
NOI $53,280 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 77088, TX
54,320
Population
18,500
Households
2.9
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
11.1 sq mi
ZIP Area
4,894
Density / Sq Mi
$52,549
Median Household Income
$32,015
Median Earnings
$1,177
Median Rent
$173,900
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 private entries, outdoor areas, and attached garages on a corner lot.
Where is this duplex located?
The property is located at 902 Ringold St A/B Houston, TX.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Duplex with two residences, each offering 3 bedrooms and 3 baths; Each residence includes a private 2‑car garage, separate entrance, and outdoor area; Built in 2026 on a corner lot in Houston’s Highland Heights area
