Four-Unit Stacked Duplex
New
For Sale
$999,900
A-d-9407 Kappa Dr, Houston, TX 77051
Four stacked units feature three bedrooms and two bathrooms in a residential income property configuration.
Property Size6,490 SF
Price / SF$154.07
Days on Market7
Property Features for A-d-9407 Kappa Dr
General Information
Standard status
Active
Size
6,490 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,753
Building Details
Buildings
2
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 23
Last Checked: Sep 26 at 7:45AM
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 quadplex package combines two stacked duplexes into four residential units. Each unit offers three bedrooms and two bathrooms, creating a consistent layout across the property and a total of 12 bedrooms and 8 bathrooms. The configuration is suited to buyers evaluating a multi-unit residential asset, including live-in ownership or rental use as supported by the existing unit design.
The property is located in Houston with access to major thoroughfares, the Texas Medical Center, and Houston ISD public schools. The surrounding area includes established residential development alongside ongoing development activity.
The property is located in Houston with access to major thoroughfares, the Texas Medical Center, and Houston ISD public schools. The surrounding area includes established residential development alongside ongoing development activity.
Key Highlights
- Four‑unit package comprising 2 stacked duplexes
- Each unit includes 3 bedrooms and 2 bathrooms
- Total configuration includes 12 bedrooms and 8 bathrooms
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
$85,004
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
8.50%
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%
$1,700,080
$1.7M
Cap Rate 7%
$1,214,343
$1.2M
Cap Rate 9%
$944,489
$944.5K
Market Conditions
NOI Build-Up for 6,490 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
$128.5K $19.80/SF
− Vacancy
−$7.1K −$1.09/SF
EGI
$121.4K $18.71/SF
− OpEx
−$36.4K −$5.61/SF
NOI
$85.0K $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%
$1,700,080
Cap Rate 7%
$1,214,343
Cap Rate 9%
$944,489
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $85,004 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$1.05M
$919.1K – $1.23M
NOI $73,526 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,820 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
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?
Quadplex - Four stacked units feature three bedrooms and two bathrooms in a residential income property configuration.
Where is this quadplex located?
The property is located at A-d-9407 Kappa Dr Houston, TX.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four‑unit package comprising 2 stacked duplexes; Each unit includes 3 bedrooms and 2 bathrooms; Total configuration includes 12 bedrooms and 8 bathrooms
