New Duplex Investment
For Sale
$455,000
Pending
944 Lucky Street, Houston, TX 77088
Brand new duplex featuring 3 bedrooms and 2 baths per unit, with covered builder warranty.
Property Size2,756 SF
Days on Market57
Property Features for 944 Lucky Street
General Information
Standard status
Pending
Size
2,756 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,553
Amenities
Plank,Vinyl
Yes
2
3
klrw10@kw.com
Washer Hookup,Dryer Hookup
Builder
Quartz Counters,Ceiling Fan(s),Programmable Thermostat
Partial
6600
More than Two
Survey
Electric Gate,Paved
Private Entrance
2756
Building Details
Building Size
2,756 SF
Year Built
2026
Stories
1
Listing Agency:
eXp Realty LLC
(281) 444-5140
Listed By:
Penny Laney
(713) 898-7787
Source:
Garygreene
Added: Jul 22
Changed: Sep 15
Last Checked: Sep 15 at 5:02AM
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.
This brand new duplex is configured with 3 bedrooms and 2 bathrooms in each unit. The layout includes an open-concept kitchen and living space, with waterproof wood-look vinyl plank flooring noted as part of the finishes. The property is covered by a StrucSure 1-2-10 builder warranty.
The home is located in Houston near shopping and offers easy access to I-45 N, Beltway 8, and 249, according to the remarks provided. The area is described as having many new builds. WalkScore is listed as 45 and transitScore as 48, with bikeScore listed as 42.
The duplex design supports separate use of each side as independent living space, with each unit matching the same 3 bed, 2 bath configuration.
The home is located in Houston near shopping and offers easy access to I-45 N, Beltway 8, and 249, according to the remarks provided. The area is described as having many new builds. WalkScore is listed as 45 and transitScore as 48, with bikeScore listed as 42.
The duplex design supports separate use of each side as independent living space, with each unit matching the same 3 bed, 2 bath configuration.
Key Highlights
- Brand new duplex (Year Built: 2026) with 3 bedrooms and 2 baths in each unit
- Total layout includes 6 bedrooms and 4 baths across both units
- Open‑concept kitchen with quartz countertops and an oversized living room
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
$36,097
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
7.93%
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%
$721,940
$721.9K
Cap Rate 7%
$515,671
$515.7K
Cap Rate 9%
$401,078
$401.1K
Market Conditions
NOI Build-Up for 2,756 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
$54.6K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.6K $18.71/SF
− OpEx
−$15.5K −$5.61/SF
NOI
$36.1K $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%
$721,940
Cap Rate 7%
$515,671
Cap Rate 9%
$401,078
Alternative Uses
Best Use
Multifamily LT 5
$515.7K
$451.2K – $601.6K
NOI $36,097 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$446.0K
$390.3K – $520.4K
NOI $31,223 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$708.7K
$620.1K – $826.8K
NOI $49,608 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
530
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brand new duplex featuring 3 bedrooms and 2 baths per unit, with covered builder warranty.
Where is this duplex located?
The property is located at 944 Lucky Street Houston, TX.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Brand new duplex (Year Built: 2026) with 3 bedrooms and 2 baths in each unit; Total layout includes 6 bedrooms and 4 baths across both units; Open‑concept kitchen with quartz countertops and an oversized living room
