Modern Duplex with Attached
For Sale
$650,000
Ab-3332 Francis St, Houston, TX 77002
Two-story construction offers separate residences, private entrances, outdoor areas, and contemporary interior finishes.
Property Size3,694 SF
Price / SF$175.96
Days on Market20
Property Features for Ab-3332 Francis St
General Information
Standard status
Active
Size
3,694 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
private entrances
private outdoor areas
Building Details
Buildings
1
Stories
2
Listing Agency:
Illustrious Realty, LLC
(832) 425-0484
Listed By:
Champhaine Davis
(713) 836-9545
Source:
Exprealty
Added: Sep 2
Changed: Sep 21
Last Checked: Sep 21 at 7:52AM
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 Illustrious Realty, LLC
Investment Insights
Based on property information with market context.
This newly constructed duplex contains two separate residences within a two-story design totaling approximately 3,694 square feet. Each unit has its own entrance, an attached one-car garage, contemporary finishes, and access to private outdoor space. The configuration supports owner occupancy alongside leasing of the second residence, extended-family use, or acquisition as a multifamily property.
The property is located in Houston’s 77004 area, with access to Downtown, the Texas Medical Center, the University of Houston, TSU, and nearby dining and entertainment. Both residences are included in the sale, providing a single asset with two distinct living spaces and dedicated garage accommodations.
The property is located in Houston’s 77004 area, with access to Downtown, the Texas Medical Center, the University of Houston, TSU, and nearby dining and entertainment. Both residences are included in the sale, providing a single asset with two distinct living spaces and dedicated garage accommodations.
Key Highlights
- Newly constructed two‑story duplex with approximately 3,694 square feet of total living space
- Two separate residences with private entrances
- Attached one‑car garage for each residence
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
$48,383
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
7.44%
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%
$967,660
$967.7K
Cap Rate 7%
$691,186
$691.2K
Cap Rate 9%
$537,589
$537.6K
Market Conditions
NOI Build-Up for 3,694 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
$73.1K $19.80/SF
− Vacancy
−$4.0K −$1.09/SF
EGI
$69.1K $18.71/SF
− OpEx
−$20.7K −$5.61/SF
NOI
$48.4K $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%
$967,660
Cap Rate 7%
$691,186
Cap Rate 9%
$537,589
Alternative Uses
Best Use
Multifamily LT 5
$691.2K
$604.8K – $806.4K
NOI $48,383 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$597.9K
$523.1K – $697.5K
NOI $41,850 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$949.9K
$831.2K – $1.11M
NOI $66,492 @ 7.0% cap · market cap 10.23%
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
3,794
Businesses Nearby
Explore this area
Business Placement
Demographics for 77002, TX
19,844
Population
8,960
Households
2.2
Avg Household Size
34
Median Age
37%
College-Educated
86%
High-School Grad
2.0 sq mi
ZIP Area
9,922
Density / Sq Mi
$85,436
Median Household Income
$54,755
Median Earnings
$1,860
Median Rent
$286,100
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-story construction offers separate residences, private entrances, outdoor areas, and contemporary interior finishes.
Where is this duplex located?
The property is located at Ab-3332 Francis St Houston, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Newly constructed two‑story duplex with approximately 3,694 square feet of total living space; Two separate residences with private entrances; Attached one‑car garage for each residence
