Duplex with Private Fenced
For Sale
$369,000
Ab-4651 Mallow St, Houston, TX 77051
Recently built duplex with two-bedroom layouts, private baths, open kitchens, and individual outdoor space for each residence.
Property Size1,848 SF
Price / SF$199.68
Days on Market18
Property Features for Ab-4651 Mallow St
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,908
Building Details
Year Built
2023
Buildings
1
Stories
1
Construction
modern farmhouse
Listing Agency:
Redfin Corporation
(713) 702-2256
Listed By:
Christopher Johns
(713) 702-2256
Source:
Exprealty
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 23 at 6:53AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This 1,848-square-foot duplex was built in 2023 with two single-story residences, each offering two bedrooms and two full bathrooms. The interiors feature 9-foot ceilings, recessed lighting, wood-look tile flooring, gray paint, and open living areas. Kitchens include granite counters, stainless steel appliances, center islands, pantries, breakfast areas, and extensive cabinetry. Unit A includes a washer and dryer, while both residences provide private baths for the bedrooms and fenced backyard areas.
The property is located on Mallow St in Houston’s Medical Center South area, with access to Downtown Houston, the Texas Medical Center, universities, dining, shopping, entertainment, and major roads. Its roommate-friendly floor plans and separate outdoor areas provide a practical residential configuration for occupants seeking private bedroom suites and additional exterior space.
The property is located on Mallow St in Houston’s Medical Center South area, with access to Downtown Houston, the Texas Medical Center, universities, dining, shopping, entertainment, and major roads. Its roommate-friendly floor plans and separate outdoor areas provide a practical residential configuration for occupants seeking private bedroom suites and additional exterior space.
Key Highlights
- 1,848‑square‑foot duplex built in 2023
- Both units include 2 bedrooms and 2 full bathrooms
- Open kitchens with granite counters, stainless steel appliances, islands, pantries, and breakfast areas
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
$24,205
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
6.56%
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%
$484,100
$484.1K
Cap Rate 7%
$345,786
$345.8K
Cap Rate 9%
$268,944
$268.9K
Market Conditions
NOI Build-Up for 1,848 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
$36.6K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$34.6K $18.71/SF
− OpEx
−$10.4K −$5.61/SF
NOI
$24.2K $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%
$484,100
Cap Rate 7%
$345,786
Cap Rate 9%
$268,944
Alternative Uses
Best Use
Multifamily LT 5
$345.8K
$302.6K – $403.4K
NOI $24,205 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$299.1K
$261.7K – $348.9K
NOI $20,936 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$475.2K
$415.8K – $554.4K
NOI $33,264 @ 7.0% cap · market cap 9.01%
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
343
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 - Recently built duplex with two-bedroom layouts, private baths, open kitchens, and individual outdoor space for each residence.
Where is this duplex located?
The property is located at Ab-4651 Mallow St Houston, TX.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 1,848‑square‑foot duplex built in 2023; Both units include 2 bedrooms and 2 full bathrooms; Open kitchens with granite counters, stainless steel appliances, islands, pantries, and breakfast areas
