Four-Unit Stacked Duplex
New
For Sale
$999,900
9407 Kappa Dr A-D, Houston, TX 77051
Stacked duplex configuration with spacious three-bedroom, two-bathroom units and access to major Houston thoroughfares.
Property Size6,490 SF
Days on Market2
Property Features for 9407 Kappa Dr A-D
General Information
Standard status
Active
Size
6,490 SF
Property subtype
Investment
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,753
Building Details
Building Size
6,490 SF
Year Built
2027
Stories
2
Units
2
Listing Agency:
Brooks & Davis Real Estate
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Elliman
Added: Sep 21
Last Checked: Sep 21 at 2:29PM
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 Brooks & Davis Real Estate
Investment Insights
Based on property information with market context.
This quadplex property comprises two stacked duplexes arranged as a four-unit package. Each residence includes 3 bedrooms and 2 bathrooms, creating a consistent layout across the asset. The property is identified with a 2027 year built and is located at 9407 Kappa Dr A-D in Houston.
The property offers access to major thoroughfares and is near the Texas Medical Center and Houston ISD public schools. Walk Score is 7, indicating a car-dependent setting, while BikeScore is 42, classified as somewhat bikeable. TransitScore is 20, reflecting minimal transit access.
The property offers access to major thoroughfares and is near the Texas Medical Center and Houston ISD public schools. Walk Score is 7, indicating a car-dependent setting, while BikeScore is 42, classified as somewhat bikeable. TransitScore is 20, reflecting minimal transit access.
Key Highlights
- Two stacked duplexes configured as a four‑unit quadplex package
- Each unit includes 3 bedrooms and 2 bathrooms
- 2027 year built
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
$85,004
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
8.50%
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%
$1,700,080
$1.7M
Cap Rate 7%
$1,214,343
$1.2M
Cap Rate 9%
$944,489
$944.5K
Market Conditions
NOI Build-Up for 6,490 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
$128.5K $19.80/SF
− Vacancy
−$7.1K −$1.09/SF
EGI
$121.4K $18.71/SF
− OpEx
−$36.4K −$5.61/SF
NOI
$85.0K $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%
$1,700,080
Cap Rate 7%
$1,214,343
Cap Rate 9%
$944,489
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $85,004 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$1.05M
$919.1K – $1.23M
NOI $73,526 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,820 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 77051, TX
18,323
Population
7,453
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
78%
High-School Grad
7.4 sq mi
ZIP Area
2,476
Density / Sq Mi
$40,030
Median Household Income
$31,914
Median Earnings
$1,332
Median Rent
$171,900
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?
Quadplex - Stacked duplex configuration with spacious three-bedroom, two-bathroom units and access to major Houston thoroughfares.
Where is this quadplex located?
The property is located at 9407 Kappa Dr A-D Houston, TX.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two stacked duplexes configured as a four‑unit quadplex package; Each unit includes 3 bedrooms and 2 bathrooms; 2027 year built
