Remodeled Duplex with Leased
New
For Sale
$542,800
9358 Leto Road, Houston, TX 77080
Both residences are leased and feature updated appliances, wood flooring, and in-unit laundry equipment.
Property Size2,727 SF
Days on Market6
Property Features for 9358 Leto Road
General Information
Standard status
Active
Size
2,727 SF
Property subtype
Multi Family,Duplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,121
Building Details
Building Size
2,727 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Patricia Fleming Realty LLC
(832) 549-5422
Listed By:
Patricia Fleming
(832) 549-5422
Source:
Greenwoodking
Added: Aug 1
Changed: Aug 4
Last Checked: Aug 6 at 3:51AM
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 Patricia Fleming Realty LLC
Investment Insights
Based on property information with market context.
This duplex includes two leased residences, each producing rental income. Interior improvements include wood flooring and updated appliances, with a gas range, refrigerator, and washer and dryer conveying. Both refrigerators and both washer-and-dryer sets have been replaced over the last year, while both water heaters were replaced over the last 2 years.
The property is located in Houston’s Spring Branch area with access to I-10 and Hwy 290. The surrounding context includes schools, shopping, dining, the Galleria, Memorial Hospital, Downtown, and the Medical Center. Exterior updates include a replacement bridge over the culvert this year and a new fence at the second duplex this year. The roof is 10-12 years old.
The property is located in Houston’s Spring Branch area with access to I-10 and Hwy 290. The surrounding context includes schools, shopping, dining, the Galleria, Memorial Hospital, Downtown, and the Medical Center. Exterior updates include a replacement bridge over the culvert this year and a new fence at the second duplex this year. The roof is 10-12 years old.
Key Highlights
- Two‑unit duplex with both residences leased and producing income
- Wood flooring and remodeled interiors with updated appliances
- Both water heaters replaced over the last 2 years
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $19.80 |
| − Vacancy | −$3.0k | −$1.09 |
| EGI | $51.0k | $18.71 |
| − OpEx | −$15.3k | −$5.61 |
| NOI | $35.7k | $13.10 |
2,727 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$510.2K
$446.5K – $595.3K
NOI $35,717 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$441.4K
$386.2K – $514.9K
NOI $30,895 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$701.2K
$613.6K – $818.1K
NOI $49,086 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 77080, TX
45,428
Population
17,394
Households
2.6
Avg Household Size
33
Median Age
27%
College-Educated
68%
High-School Grad
6.4 sq mi
ZIP Area
7,098
Density / Sq Mi
$63,056
Median Household Income
$33,658
Median Earnings
$1,253
Median Rent
$311,600
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 - Both residences are leased and feature updated appliances, wood flooring, and in-unit laundry equipment.
Where is this duplex located?
The property is located at 9358 Leto Road Houston, TX.
What is the asking price?
The asking price for this property is $542,800.
What are key features of this property?
This property features: Two‑unit duplex with both residences leased and producing income; Wood flooring and remodeled interiors with updated appliances; Both water heaters replaced over the last 2 years
