Newly Constructed Three-Bedroom
For Sale
$410,000
A-b-8157 Tate St, Houston, TX 77028
Occupied duplex with private bedroom suites, modern finishes, included appliances, and outdoor space.
Property Size2,180 SF
Price / SF$188.07
Days on Market16
Property Features for A-b-8157 Tate St
General Information
Standard status
Active
Size
2,180 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,736
Amenities
backyard
Listing Agency:
Better Homes and Gardens Real Estate Gary Greene - The Woodlands
(281) 367-3531
Listed By:
Christy Andrew
(832) 428-0449
Source:
Exprealty
Added: Sep 6
Changed: Sep 19
Last Checked: Sep 21 at 1:48PM
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 Better Homes and Gardens Real Estate Gary Greene - The Woodlands
Investment Insights
Based on property information with market context.
This newly constructed duplex contains 2,180 square feet and is arranged as two three-bedroom, three-bathroom units. Each bedroom has a private bathroom and walk-in closet, while the interiors feature open layouts, vinyl plank flooring, granite countertops, stainless steel appliances, and touch-activated bathroom mirrors. Refrigerators and washer/dryer sets are included with the property.
Both units are occupied, and the property provides backyard space for outdoor use. The combination of bedroom-level bathrooms, private closets, and contemporary finishes supports a practical configuration for shared residential living.
Both units are occupied, and the property provides backyard space for outdoor use. The combination of bedroom-level bathrooms, private closets, and contemporary finishes supports a practical configuration for shared residential living.
Key Highlights
- Newly constructed duplex with 2,180 square feet
- Two units, each with 3 bedrooms and 3 bathrooms
- Every bedroom includes a private bathroom and walk‑in closet
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
$28,553
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
6.96%
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%
$571,060
$571.1K
Cap Rate 7%
$407,900
$407.9K
Cap Rate 9%
$317,256
$317.3K
Market Conditions
NOI Build-Up for 2,180 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
$43.2K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$40.8K $18.71/SF
− OpEx
−$12.2K −$5.61/SF
NOI
$28.6K $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%
$571,060
Cap Rate 7%
$407,900
Cap Rate 9%
$317,256
Alternative Uses
Best Use
Multifamily LT 5
$407.9K
$356.9K – $475.9K
NOI $28,553 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$352.8K
$308.7K – $411.6K
NOI $24,698 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$560.6K
$490.5K – $654.0K
NOI $39,240 @ 7.0% cap · market cap 9.57%
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
189
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 - Occupied duplex with private bedroom suites, modern finishes, included appliances, and outdoor space.
Where is this duplex located?
The property is located at A-b-8157 Tate St Houston, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Newly constructed duplex with 2,180 square feet; Two units, each with 3 bedrooms and 3 bathrooms; Every bedroom includes a private bathroom and walk‑in closet
