New Construction
For Sale
$399,900
A-7953 Booker St, Houston, TX 77028
Each residence offers open-concept living, stainless steel appliances, and durable flooring with no carpet.
Property Size2,688 SF
Price / SF$148.77
Days on Market8
Property Features for A-7953 Booker St
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,046
Listing Agency:
Alumbra International Properties
(346) 233-6958
Listed By:
Mayra Puga · License #0756141
(832) 441-7111
Source:
Exprealty
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 22 at 4:27PM
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 Alumbra International Properties
Investment Insights
Based on property information with market context.
This newly built duplex contains two residences, each with 3 bedrooms and 2.5 bathrooms. The floor plan places all bedrooms upstairs, while the main level includes an open kitchen and living area, a half bath, and laundry space. Stainless steel kitchen appliances, tile flooring downstairs, and LVP flooring upstairs are included, along with a washer and dryer for each residence.
Located in Northeast Houston, the property provides access to major highways and Downtown Houston. There is no HOA or stated restriction, and the configuration supports occupying one residence while leasing the other or leasing both units.
Located in Northeast Houston, the property provides access to major highways and Downtown Houston. There is no HOA or stated restriction, and the configuration supports occupying one residence while leasing the other or leasing both units.
Key Highlights
- Newly built duplex with two 3‑bedroom, 2.5‑bathroom residences
- Each unit includes an open kitchen and living area
- Stainless steel kitchen appliances and washer and dryer included
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
$35,207
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
8.80%
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%
$704,140
$704.1K
Cap Rate 7%
$502,957
$503.0K
Cap Rate 9%
$391,189
$391.2K
Market Conditions
NOI Build-Up for 2,688 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
$53.2K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$50.3K $18.71/SF
− OpEx
−$15.1K −$5.61/SF
NOI
$35.2K $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%
$704,140
Cap Rate 7%
$502,957
Cap Rate 9%
$391,189
Alternative Uses
Best Use
Multifamily LT 5
$503.0K
$440.1K – $586.8K
NOI $35,207 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$435.0K
$380.7K – $507.6K
NOI $30,453 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$691.2K
$604.8K – $806.4K
NOI $48,384 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
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 - Each residence offers open-concept living, stainless steel appliances, and durable flooring with no carpet.
Where is this duplex located?
The property is located at A-7953 Booker St Houston, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Newly built duplex with two 3‑bedroom, 2.5‑bathroom residences; Each unit includes an open kitchen and living area; Stainless steel kitchen appliances and washer and dryer included
