New-Construction Duplex with Modern
For Sale
$359,900
9706 Pelsey St, Houston, TX 77029
Two-unit property with all-electric systems, private driveways, separate utilities, and contemporary interior finishes.
Property Size2,368 SF
Price / SF$151.98
Days on Market17
Property Features for 9706 Pelsey St
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
10ft walls
quartz countertop
kitchen drawers soft close
tile from tub to ceiling
no gas
all electric
gutters
individual driveways
utilities
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Vive Realty LLC
(832) 293-3113
Listed By:
Larry Reyes
(832) 293-3113
Source:
Exprealty
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 11 at 11:49AM
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 Vive Realty LLC
Investment Insights
Based on property information with market context.
This duplex is scheduled for completion by October 31, 2026, with 2,368 square feet of property size. The planned design includes 10-foot walls, quartz countertops, soft-close kitchen drawers, and tile extending from the tub to the ceiling. The property will use all-electric systems and include gutters, individual driveways, and individual utilities.
Located at 9706 Pelsey St in Houston, Texas, the property is designed as a two-unit residential asset with separate driveways and utilities. Its contemporary finish package and new construction status provide a clearly defined physical profile for future occupancy or ownership.
Located at 9706 Pelsey St in Houston, Texas, the property is designed as a two-unit residential asset with separate driveways and utilities. Its contemporary finish package and new construction status provide a clearly defined physical profile for future occupancy or ownership.
Key Highlights
- Construction scheduled for completion by October 31, 2026
- 2,368 square feet of property size
- 10‑foot walls and contemporary interior design
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
$31,015
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
8.62%
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%
$620,300
$620.3K
Cap Rate 7%
$443,071
$443.1K
Cap Rate 9%
$344,611
$344.6K
Market Conditions
NOI Build-Up for 2,368 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
$46.9K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.3K $18.71/SF
− OpEx
−$13.3K −$5.61/SF
NOI
$31.0K $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%
$620,300
Cap Rate 7%
$443,071
Cap Rate 9%
$344,611
Alternative Uses
Best Use
Multifamily LT 5
$443.1K
$387.7K – $516.9K
NOI $31,015 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$383.2K
$335.3K – $447.1K
NOI $26,827 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$608.9K
$532.8K – $710.4K
NOI $42,624 @ 7.0% cap · market cap 11.84%
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
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 77029, TX
17,044
Population
6,386
Households
2.7
Avg Household Size
36
Median Age
9%
College-Educated
62%
High-School Grad
10.6 sq mi
ZIP Area
1,608
Density / Sq Mi
$49,601
Median Household Income
$32,614
Median Earnings
$1,129
Median Rent
$115,400
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-unit property with all-electric systems, private driveways, separate utilities, and contemporary interior finishes.
Where is this duplex located?
The property is located at 9706 Pelsey St Houston, TX.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Construction scheduled for completion by October 31, 2026; 2,368 square feet of property size; 10‑foot walls and contemporary interior design
