Three-Level
For Sale
$459,900
A-b-5924 N Wayside Dr, Houston, TX 77011
New construction duplex with two vertically arranged residences and abundant natural light from large windows.
Property Size2,469 SF
Price / SF$186.27
Days on Market24
Property Features for A-b-5924 N Wayside Dr
General Information
Standard status
Active
Size
2,469 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$971
Building Details
Buildings
1
Stories
3
Listing Agency:
Brooks & Davis Real Estate
(832) 524-4526
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Exprealty
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 24 at 8:48AM
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 new-construction duplex contains two separate residences, with each unit extending across three levels. The vertical arrangement creates distinct living areas within each home, while large windows bring natural light throughout the interiors. Modern exterior finishes give the property a contemporary appearance, and the total property size is 2,469 square feet.
Located in Houston, the property is positioned on N Wayside Dr in a growing area of the city. Its two-unit configuration supports residential income use or shared occupancy, subject to applicable requirements.
Located in Houston, the property is positioned on N Wayside Dr in a growing area of the city. Its two-unit configuration supports residential income use or shared occupancy, subject to applicable requirements.
Key Highlights
- Two separate residential units
- Each unit spans three levels
- New construction
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
$32,338
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
7.03%
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%
$646,760
$646.8K
Cap Rate 7%
$461,971
$462.0K
Cap Rate 9%
$359,311
$359.3K
Market Conditions
NOI Build-Up for 2,469 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
$48.9K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.2K $18.71/SF
− OpEx
−$13.9K −$5.61/SF
NOI
$32.3K $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 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%
$646,760
Cap Rate 7%
$461,971
Cap Rate 9%
$359,311
Alternative Uses
Best Use
Multifamily LT 5
$462.0K
$404.2K – $539.0K
NOI $32,338 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$634.9K
$555.5K – $740.7K
NOI $44,442 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
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 - New construction duplex with two vertically arranged residences and abundant natural light from large windows.
Where is this duplex located?
The property is located at A-b-5924 N Wayside Dr Houston, TX.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Two separate residential units; Each unit spans three levels; New construction
