Duplex with Stacked
For Sale
$539,900
A-b-9405 Kappa Dr, Houston, TX 77051
Two separate residences each provide three bedrooms and two bathrooms in a shared building.
Property Size3,245 SF
Price / SF$166.38
Days on Market12
Property Features for A-b-9405 Kappa Dr
General Information
Standard status
Active
Size
3,245 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,753
Listing Agency:
Brooks & Davis Real Estate
(713) 665-8329
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Exprealty
Added: Sep 20
Changed: Sep 25
Last Checked: Sep 30 at 7:33PM
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 duplex contains 3,245 square feet across two stacked residences. Both units have three bedrooms and two bathrooms, creating a consistent layout throughout the building.
The property is in Houston, with access to major thoroughfares and proximity to the Texas Medical Center. Houston ISD public schools serve the surrounding area, which includes established housing and continued development.
The property is in Houston, with access to major thoroughfares and proximity to the Texas Medical Center. Houston ISD public schools serve the surrounding area, which includes established housing and continued development.
Key Highlights
- 3,245‑square‑foot duplex with two stacked units
- Each unit includes 3 bedrooms and 2 bathrooms
- Near the Texas Medical Center
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
$42,502
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
7.87%
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%
$850,040
$850.0K
Cap Rate 7%
$607,171
$607.2K
Cap Rate 9%
$472,244
$472.2K
Market Conditions
NOI Build-Up for 3,245 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
$64.3K $19.80/SF
− Vacancy
−$3.5K −$1.09/SF
EGI
$60.7K $18.71/SF
− OpEx
−$18.2K −$5.61/SF
NOI
$42.5K $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%
$850,040
Cap Rate 7%
$607,171
Cap Rate 9%
$472,244
Alternative Uses
Best Use
Multifamily LT 5
$607.2K
$531.3K – $708.4K
NOI $42,502 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$525.2K
$459.5K – $612.7K
NOI $36,763 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$834.4K
$730.1K – $973.5K
NOI $58,410 @ 7.0% cap · market cap 10.82%
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
276
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 - Two separate residences each provide three bedrooms and two bathrooms in a shared building.
Where is this duplex located?
The property is located at A-b-9405 Kappa Dr Houston, TX.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 3,245‑square‑foot duplex with two stacked units; Each unit includes 3 bedrooms and 2 bathrooms; Near the Texas Medical Center
