Duplex with Contemporary
For Sale
$498,000
A-b-2031 Oak Forest Dr, Houston, TX 77018
The two-unit layout pairs a larger two-bedroom residence with a one-bedroom unit, each with its own bath.
Property Size2,006 SF
Price / SF$248.26
Days on Market8
Property Features for A-b-2031 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
backyard
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 8
Changed: Oct 11
Last Checked: Oct 12 at 10:47PM
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
Investment Insights
Based on property information with market context.
Under construction at 2031 Oak Forest Dr. in Houston, this 2,006-square-foot duplex contains two residences: one with 2 bedrooms and 2 bathrooms, and another with 1 bedroom and 1 bathroom. The property includes a garage, covered parking, and a backyard. Interior details include quartz counters, plank flooring, tiled bathrooms, island kitchens, ceiling fans, blinds, and 10-foot ceilings. Appliances are included, and the garage has a remote opener. The development is gated and includes shared green space.
The property is in the Independent Heights area, with Garden Oaks nearby. Shopping, restaurants, and other conveniences are in the surrounding area, and downtown Houston is accessible from the location.
The property is in the Independent Heights area, with Garden Oaks nearby. Shopping, restaurants, and other conveniences are in the surrounding area, and downtown Houston is accessible from the location.
Key Highlights
- 2,006‑square‑foot duplex with two residences
- Unit mix: one 2‑bedroom, 2‑bathroom unit and one 1‑bedroom, 1‑bathroom unit
- Garage, covered parking, and backyard
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The two-unit layout pairs a larger two-bedroom residence with a one-bedroom unit, each with its own bath.
Where is this duplex located?
The property is located at A-b-2031 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 with two residences; Unit mix: one 2‑bedroom, 2‑bathroom unit and one 1‑bedroom, 1‑bathroom unit; Garage, covered parking, and backyard
