Modern Duplex with Fenced
For Sale
$515,000
Ab-3515 Shelby Cir, Houston, TX 77051
Two contemporary residences offer open living areas, upgraded finishes, and convenient access to major Houston destinations.
Property Size3,032 SF
Price / SF$169.85
Days on Market10
Property Features for Ab-3515 Shelby Cir
General Information
Standard status
Active
Size
3,032 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,805
Amenities
open-concept living and dining area
granite countertops
soft-close cabinetry
stainless steel appliances
vinyl plank flooring
central A/C and heating
fenced backyard
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Aug 3
Changed: Aug 12
Last Checked: Aug 12 at 12:48PM
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 Nextgen Real Estate Properties
Investment Insights
Based on property information with market context.
Located at Ab-3515 Shelby Cir in Houston, this modern duplex contains two 3-bedroom, 2.5-bath residences totaling 3,032 square feet. Both units feature open-concept living and dining areas, granite countertops, soft-close cabinetry, stainless steel appliances, vinyl plank flooring, and central A/C and heating. Each residence also includes a fenced backyard.
The property provides access to I-610 and Hwy 288, with Downtown Houston, the Medical Center, and Hobby Airport nearby. Unit A is tenant occupied, adding an existing rental component to the property. The two-unit configuration and updated interior finishes support a range of residential income property strategies.
The property provides access to I-610 and Hwy 288, with Downtown Houston, the Medical Center, and Hobby Airport nearby. Unit A is tenant occupied, adding an existing rental component to the property. The two-unit configuration and updated interior finishes support a range of residential income property strategies.
Key Highlights
- Two‑unit duplex totaling 3,032 square feet
- Each unit includes 3 bedrooms and 2.5 baths
- Open‑concept living and dining areas in both units
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
$39,712
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
7.71%
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%
$794,240
$794.2K
Cap Rate 7%
$567,314
$567.3K
Cap Rate 9%
$441,244
$441.2K
Market Conditions
NOI Build-Up for 3,032 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
$60.0K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$56.7K $18.71/SF
− OpEx
−$17.0K −$5.61/SF
NOI
$39.7K $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%
$794,240
Cap Rate 7%
$567,314
Cap Rate 9%
$441,244
Alternative Uses
Best Use
Multifamily LT 5
$567.3K
$496.4K – $661.9K
NOI $39,712 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$490.7K
$429.4K – $572.5K
NOI $34,350 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$779.7K
$682.2K – $909.6K
NOI $54,576 @ 7.0% cap · market cap 10.60%
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
253
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 contemporary residences offer open living areas, upgraded finishes, and convenient access to major Houston destinations.
Where is this duplex located?
The property is located at Ab-3515 Shelby Cir Houston, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,032 square feet; Each unit includes 3 bedrooms and 2.5 baths; Open‑concept living and dining areas in both units
