New Construction Two-Unit
For Sale
$424,900
Pending
A-b-7215 Sandra St, Houston, TX 77028
Each residence offers two bedrooms, two and a half bathrooms, and an open-concept main level.
Property Size2,000 SF
Days on Market8
Property Features for A-b-7215 Sandra St
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
AEA Realty, LLC
(281) 317-0019
Listed By:
Nathaniel Pierre
(832) 738-6493
Source:
Exprealty
Added: Aug 27
Changed: Sep 3
Last Checked: Sep 2 at 6:49PM
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 AEA Realty, LLC
Investment Insights
Based on property information with market context.
Under construction with estimated completion in September 2026, this duplex will contain two separately configured residences. Each unit is planned with two bedrooms and two and a half bathrooms, creating a consistent layout across the property.
The main level of each residence combines living and kitchen areas in an open-concept arrangement. Two bedrooms are positioned upstairs, with each bedroom accompanied by its own full private bathroom. The property is located in a Northeast Houston neighborhood with access to local amenities.
The main level of each residence combines living and kitchen areas in an open-concept arrangement. Two bedrooms are positioned upstairs, with each bedroom accompanied by its own full private bathroom. The property is located in a Northeast Houston neighborhood with access to local amenities.
Key Highlights
- Two‑unit duplex under construction with estimated completion in September 2026
- Each unit includes 2 bedrooms and 2.5 bathrooms
- Open‑concept living and kitchen area on the first floor of each unit
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
$26,195
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
6.16%
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%
$523,900
$523.9K
Cap Rate 7%
$374,214
$374.2K
Cap Rate 9%
$291,056
$291.1K
Market Conditions
NOI Build-Up for 2,000 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
$39.6K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.4K $18.71/SF
− OpEx
−$11.2K −$5.61/SF
NOI
$26.2K $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%
$523,900
Cap Rate 7%
$374,214
Cap Rate 9%
$291,056
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.6K
NOI $26,195 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$323.7K
$283.2K – $377.6K
NOI $22,658 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$514.3K
$450.0K – $600.0K
NOI $36,000 @ 7.0% cap · market cap 8.47%
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
562
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
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 - Each residence offers two bedrooms, two and a half bathrooms, and an open-concept main level.
Where is this duplex located?
The property is located at A-b-7215 Sandra St Houston, TX.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Two‑unit duplex under construction with estimated completion in September 2026; Each unit includes 2 bedrooms and 2.5 bathrooms; Open‑concept living and kitchen area on the first floor of each unit
