Two-Unit Duplex with Private
For Sale
$350,000
A-b-6602 Tamar Dr, Pasadena, TX 77503
Both residences include two bedrooms, two bathrooms, and separate outdoor space.
Property Size2,430 SF
Price / SF$144.03
Days on Market108
Property Features for A-b-6602 Tamar Dr
General Information
Standard status
Active
Size
2,430 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,092
Listing Agency:
Nan & Company Properties-Galveston Office
(713) 824-4700
Listed By:
Martina Tomey
(713) 824-4700
Source:
Exprealty
Added: May 17
Changed: Aug 31
Last Checked: Aug 30 at 8:02PM
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 Nan & Company Properties-Galveston Office
Investment Insights
Based on property information with market context.
This duplex contains 2,430 square feet and is arranged as two residences. Each side provides two bedrooms, two bathrooms, a private backyard, and dedicated parking. Long-term tenants are already in place, and the property has no HOA.
The property is located near San Jacinto College and UHCL, with access to Beltway 8 and a short commute to the Port of Houston. The source information also identifies the property as never flooded and notes a low tax rate.
The property is located near San Jacinto College and UHCL, with access to Beltway 8 and a short commute to the Port of Houston. The source information also identifies the property as never flooded and notes a low tax rate.
Key Highlights
- Two‑unit duplex totaling 2,430 square feet
- Each residence has 2 bedrooms and 2 bathrooms
- Separate private backyards for both sides
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
$27,674
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
7.91%
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%
$553,480
$553.5K
Cap Rate 7%
$395,343
$395.3K
Cap Rate 9%
$307,489
$307.5K
Market Conditions
NOI Build-Up for 2,430 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
$42.3K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$39.5K $16.27/SF
− OpEx
−$11.9K −$4.88/SF
NOI
$27.7K $11.39/SF
Area
Pasadena, TX
Vacancy
6.50%
Lease Rate
$17.40 /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%
$553,480
Cap Rate 7%
$395,343
Cap Rate 9%
$307,489
Alternative Uses
Best Use
Multifamily LT 5
$395.3K
$345.9K – $461.2K
NOI $27,674 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$355.4K
$310.9K – $414.6K
NOI $24,875 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$801.9K
$701.7K – $935.6K
NOI $56,135 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 77503, TX
24,956
Population
8,980
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
70%
High-School Grad
6.3 sq mi
ZIP Area
3,961
Density / Sq Mi
$64,977
Median Household Income
$37,015
Median Earnings
$1,211
Median Rent
$165,300
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 - Both residences include two bedrooms, two bathrooms, and separate outdoor space.
Where is this duplex located?
The property is located at A-b-6602 Tamar Dr Pasadena, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,430 square feet; Each residence has 2 bedrooms and 2 bathrooms; Separate private backyards for both sides
