New Construction Two-Story
New
For Sale
$499,500
Ab-11021 Melba Ln, Houston, TX 77041
Two separate residences offer modern finishes, efficient layouts, and flexibility for owner occupancy or rental use.
Property Size2,710 SF
Price / SF$184.32
Days on Market6
Property Features for Ab-11021 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
Listing Agency:
R. Alexa Group
(713) 705-0086
Listed By:
Obinna Duru
(832) 983-7122
Source:
Exprealty
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 18 at 1:09PM
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 built duplex at Ab-11021 Melba Ln in Houston contains 2,710 square feet across two separate units. The front and rear residences each include three bedrooms, three full bathrooms, a two-story layout, an open living arrangement, and primary suites with walk-in closets. Interior finishes include quartz countertops, matte black fixtures, stainless steel appliances, and hard-surface flooring throughout. The property is outside a flood zone and designed for low-maintenance ownership.
The duplex is positioned just north of Spring Branch, with access to Memorial City, the Energy Corridor, the Galleria, Beltway 8, and I-10. Its two-unit configuration supports separate occupancy while retaining a unified residential asset for an owner-user or investor.
The duplex is positioned just north of Spring Branch, with access to Memorial City, the Energy Corridor, the Galleria, Beltway 8, and I-10. Its two-unit configuration supports separate occupancy while retaining a unified residential asset for an owner-user or investor.
Key Highlights
- Newly constructed duplex with 2,710 square feet
- Two separate units, each with 3 bedrooms and 3 full bathrooms
- Two‑story residences with open‑concept layouts and primary walk‑in closets
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 - Two separate residences offer modern finishes, efficient layouts, and flexibility for owner occupancy or rental use.
Where is this duplex located?
The property is located at Ab-11021 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: Newly constructed duplex with 2,710 square feet; Two separate units, each with 3 bedrooms and 3 full bathrooms; Two‑story residences with open‑concept layouts and primary walk‑in closets
