Two-Unit Modern
For Sale
$498,000
A-b-2029 Oak Forest Dr, Houston, TX 77018
Under construction in a gated community, the property includes garage parking, a backyard, and shared green space.
Property Size2,006 SF
Price / SF$248.26
Days on Market12
Property Features for A-b-2029 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
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 19
Last Checked: Oct 19 at 2:16PM
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.
This two-unit duplex is under construction and totals 2,006 square feet. One unit has two bedrooms and two bathrooms; the other has one bedroom and one bathroom. Both feature island kitchens, quartz countertops, plank flooring, ceiling fans, and 10-foot ceilings. The planned finish package also includes tiled bathrooms, blinds, appliances, and a remote-operated garage. The property includes covered parking, a backyard, and access to community green space within a gated setting.
The address is 2029 Oak Forest Dr. in Houston, with proximity to Garden Oaks and Independent Heights. Shopping, restaurants, nightlife, and downtown Houston are identified as nearby destinations.
The address is 2029 Oak Forest Dr. in Houston, with proximity to Garden Oaks and Independent Heights. Shopping, restaurants, nightlife, and downtown Houston are identified as nearby destinations.
Key Highlights
- Two‑unit duplex totaling 2,006 square feet
- Unit mix: one 2‑bedroom/2‑bathroom unit and one 1‑bedroom/1‑bathroom unit
- Under construction with 10‑foot ceilings, island kitchens, quartz counters, 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
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 - Under construction in a gated community, the property includes garage parking, a backyard, and shared green space.
Where is this duplex located?
The property is located at A-b-2029 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: Two‑unit duplex totaling 2,006 square feet; Unit mix: one 2‑bedroom/2‑bathroom unit and one 1‑bedroom/1‑bathroom unit; Under construction with 10‑foot ceilings, island kitchens, quartz counters, and plank flooring
