Two-Story Townhome
New
For Sale
$499,500
Ab-11019 Melba Ln, Houston, TX 77041
New-construction duplex with two three-bedroom units, contemporary finishes, and separate front and rear residences.
Property Size2,710 SF
Price / SF$184.32
Days on Market7
Property Features for Ab-11019 Melba Ln
General Information
Standard status
Active
Size
2,710 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,275
Building Details
Buildings
1
Stories
2
Listing Agency:
R. Alexa Group
(713) 705-0086
Listed By:
Obinna Duru
(832) 983-7122
Source:
Exprealty
Added: Sep 13
Changed: Sep 18
Last Checked: Sep 18 at 3:39PM
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 R. Alexa Group
Investment Insights
Based on property information with market context.
This newly constructed duplex contains 2,710 square feet across two separate, two-story townhome-style units. Together, the residences provide 6 bedrooms and 6 full bathrooms, with each unit offering 3 bedrooms and 3 full bathrooms. Both layouts feature open-concept living areas, carpet-free interiors, quartz countertops, matte black fixtures, stainless steel appliances, and primary suites with walk-in closets. The front and rear unit arrangement supports separate occupancy within one property.
The property is located just north of Spring Branch in Houston, with access to Memorial City, the Energy Corridor, the Galleria, Beltway 8, and I-10. It is not in a flood zone and is positioned within a quiet residential neighborhood.
The property is located just north of Spring Branch in Houston, with access to Memorial City, the Energy Corridor, the Galleria, Beltway 8, and I-10. It is not in a flood zone and is positioned within a quiet residential neighborhood.
Key Highlights
- New construction totaling 2,710 SF
- Two separate two‑story units with 3 bedrooms and 3 full bathrooms each
- Combined total of 6 bedrooms and 6 full 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
$35,495
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
7.11%
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%
$709,900
$709.9K
Cap Rate 7%
$507,071
$507.1K
Cap Rate 9%
$394,389
$394.4K
Market Conditions
NOI Build-Up for 2,710 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
$53.7K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$50.7K $18.71/SF
− OpEx
−$15.2K −$5.61/SF
NOI
$35.5K $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%
$709,900
Cap Rate 7%
$507,071
Cap Rate 9%
$394,389
Alternative Uses
Best Use
Multifamily LT 5
$507.1K
$443.7K – $591.6K
NOI $35,495 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$438.6K
$383.8K – $511.7K
NOI $30,702 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$696.9K
$609.8K – $813.0K
NOI $48,780 @ 7.0% cap · market cap 9.77%
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
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 77041, TX
35,958
Population
11,877
Households
3
Avg Household Size
38
Median Age
38%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,903
Density / Sq Mi
$79,164
Median Household Income
$40,991
Median Earnings
$1,638
Median Rent
$269,000
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 - New-construction duplex with two three-bedroom units, contemporary finishes, and separate front and rear residences.
Where is this duplex located?
The property is located at Ab-11019 Melba Ln Houston, TX.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: New construction totaling 2,710 SF; Two separate two‑story units with 3 bedrooms and 3 full bathrooms each; Combined total of 6 bedrooms and 6 full bathrooms
