Two-Story New Construction
For Sale
$489,900
A-b-5004 Carmen St, Houston, TX 77051
Contemporary income property with open living areas, a kitchen island, fireplace, vaulted ceilings, and abundant natural light.
Property Size2,561 SF
Price / SF$191.29
Days on Market15
Property Features for A-b-5004 Carmen St
General Information
Standard status
Active
Size
2,561 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,231
Building Details
Buildings
1
Stories
2
Listing Agency:
Brooks & Davis Real Estate
(713) 665-8329
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Exprealty
Added: Aug 19
Changed: Aug 30
Last Checked: Sep 1 at 10:46PM
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 Brooks & Davis Real Estate
Investment Insights
Based on property information with market context.
This newly built duplex is arranged across two levels with a contemporary exterior defined by broad glazing, framed windows, and crisp architectural lines. The interior centers on an open living area with an accent wall, modern light fixtures, and a fireplace. The connected kitchen features a large island with seating. Upstairs, the owner’s suite includes a vaulted ceiling, decorative wall treatment, and oversized windows. The property measures 2,561 square feet and includes 3 bedrooms and 2 full bathrooms.
Located in Houston, the property is positioned near the Texas Medical Center and Downtown, with access to I-610 and SH-288. The address is A-b-5004 Carmen St.
Located in Houston, the property is positioned near the Texas Medical Center and Downtown, with access to I-610 and SH-288. The address is A-b-5004 Carmen St.
Key Highlights
- New‑construction duplex with two‑story layout
- 2,561 square feet with 3 bedrooms and 2 full bathrooms
- Open living area with fireplace, accent wall, and modern lighting
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
$33,543
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
6.85%
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%
$670,860
$670.9K
Cap Rate 7%
$479,186
$479.2K
Cap Rate 9%
$372,700
$372.7K
Market Conditions
NOI Build-Up for 2,561 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
$50.7K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$47.9K $18.71/SF
− OpEx
−$14.4K −$5.61/SF
NOI
$33.5K $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%
$670,860
Cap Rate 7%
$479,186
Cap Rate 9%
$372,700
Alternative Uses
Best Use
Multifamily LT 5
$479.2K
$419.3K – $559.1K
NOI $33,543 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$414.5K
$362.7K – $483.6K
NOI $29,014 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,098 @ 7.0% cap · market cap 9.41%
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
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 77051, TX
18,323
Population
7,453
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
78%
High-School Grad
7.4 sq mi
ZIP Area
2,476
Density / Sq Mi
$40,030
Median Household Income
$31,914
Median Earnings
$1,332
Median Rent
$171,900
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 - Contemporary income property with open living areas, a kitchen island, fireplace, vaulted ceilings, and abundant natural light.
Where is this duplex located?
The property is located at A-b-5004 Carmen St Houston, TX.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: New‑construction duplex with two‑story layout; 2,561 square feet with 3 bedrooms and 2 full bathrooms; Open living area with fireplace, accent wall, and modern lighting
