Duplex with Contemporary
For Sale
$498,000
A-b-2023 Oak Forest Dr, Houston, TX 77018
The planned two-unit layout pairs a two-bedroom residence with a one-bedroom unit, each with its own bathroom configuration.
Property Size2,006 SF
Price / SF$248.26
Days on Market9
Property Features for A-b-2023 Oak Forest Dr
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
gated community
green space
garage
covered parking
backyard
full appliances package
blinds
ceiling fans
Building Details
Buildings
1
Listing Agency:
Walzel Properties - Corporate Office
(832) 674-4960
Listed By:
Tina Vu
(832) 732-9772
Source:
Exprealty
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 16 at 11:58AM
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 Walzel Properties - Corporate Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Under construction, this 2,006-square-foot duplex is planned with two residences: one offering two bedrooms and two bathrooms, the other one bedroom and one bathroom. Both units feature island kitchens, 10-foot ceilings, ceiling fans, plank flooring, and a full appliance package. Finish details include quartz counters and tile in the bathrooms. The property also includes a garage, covered parking, and a backyard.
The duplex is part of a gated community with green space at 2023 Oak Forest Dr. in Houston. Blinds and remote-operated garage access are also included.
The duplex is part of a gated community with green space at 2023 Oak Forest Dr. in Houston. Blinds and remote-operated garage access are also included.
Key Highlights
- 2,006‑square‑foot duplex under construction
- Unit mix: one 2‑bedroom/2‑bathroom residence and one 1‑bedroom/1‑bathroom residence
- Island kitchens, 10‑foot ceilings, and plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,274
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,480
$525.5K
Cap Rate 7%
$375,343
$375.3K
Cap Rate 9%
$291,933
$291.9K
Market Conditions
NOI Build-Up for 2,006 SF
Gross rent
$39.7K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.5K $18.71/SF
− OpEx
−$11.3K −$5.61/SF
NOI
$26.3K $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 Rate 5%
$525,480
Cap Rate 7%
$375,343
Cap Rate 9%
$291,933
Alternative Uses
Best Use
Multifamily LT 5
$375.3K
$328.4K – $437.9K
NOI $26,274 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$324.7K
$284.1K – $378.8K
NOI $22,726 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$515.8K
$451.4K – $601.8K
NOI $36,108 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 77018, TX
27,870
Population
13,335
Households
2.1
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
6.8 sq mi
ZIP Area
4,099
Density / Sq Mi
$121,658
Median Household Income
$75,487
Median Earnings
$1,256
Median Rent
$543,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The planned two-unit layout pairs a two-bedroom residence with a one-bedroom unit, each with its own bathroom configuration.
Where is this duplex located?
The property is located at A-b-2023 Oak Forest Dr Houston, TX.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: 2,006‑square‑foot duplex under construction; Unit mix: one 2‑bedroom/2‑bathroom residence and one 1‑bedroom/1‑bathroom residence; Island kitchens, 10‑foot ceilings, and plank flooring
