Duplex with Private
New
For Sale
$339,000
9119 Sherbourne Street, Houston, TX 77016
Both residences have separate fenced outdoor areas, with kitchens designed around large islands and granite countertops.
Property Size2,376 SF
Days on Market3
Property Features for 9119 Sherbourne Street
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Multi Family,Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,754
Building Details
Building Size
2,376 SF
Year Built
2021
Buildings
1
Listing Agency:
eXp Realty LLC
Listed By:
Nicole Ellison · License #0775006
(832) 795-7555
Source:
Mpowerrealtygroup
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 26 at 3:08PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains two residences, each with 3 bedrooms, 2 full baths, and approximately 1,200 sq. ft. of living area. The interiors include open living spaces, high ceilings, wood-look tile, and kitchens with granite counters and large islands. Each home also has a primary suite with a private bath and closet, a utility room, and a fenced backyard.
The property is near Downtown Houston, major highways, shopping, dining, and entertainment. Its two-unit configuration is suited to separate household occupancy, with distinct living areas and outdoor spaces for each residence.
The property is near Downtown Houston, major highways, shopping, dining, and entertainment. Its two-unit configuration is suited to separate household occupancy, with distinct living areas and outdoor spaces for each residence.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full baths
- Approximately 1,200 sq. ft. of living space in each unit
- Built in 2021
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
$31,120
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
9.18%
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%
$622,400
$622.4K
Cap Rate 7%
$444,571
$444.6K
Cap Rate 9%
$345,778
$345.8K
Market Conditions
NOI Build-Up for 2,376 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
$47.0K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.5K $18.71/SF
− OpEx
−$13.3K −$5.61/SF
NOI
$31.1K $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%
$622,400
Cap Rate 7%
$444,571
Cap Rate 9%
$345,778
Alternative Uses
Best Use
Multifamily LT 5
$444.6K
$389.0K – $518.7K
NOI $31,120 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$384.5K
$336.5K – $448.6K
NOI $26,918 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$611.0K
$534.6K – $712.8K
NOI $42,768 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 77016, TX
29,966
Population
11,131
Households
2.7
Avg Household Size
37
Median Age
11%
College-Educated
75%
High-School Grad
9.9 sq mi
ZIP Area
3,027
Density / Sq Mi
$46,411
Median Household Income
$30,510
Median Earnings
$1,163
Median Rent
$111,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences have separate fenced outdoor areas, with kitchens designed around large islands and granite countertops.
Where is this duplex located?
The property is located at 9119 Sherbourne Street Houston, TX.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full baths; Approximately 1,200 sq. ft. of living space in each unit; Built in 2021
