Modern Duplex
New
For Sale
$359,900
Ab-618 Maple Way, Houston, TX 77015
Two separate residences offer three-bedroom layouts, contemporary finishes, and private entrances for flexible occupancy.
Property Size2,012 SF
Price / SF$178.88
Days on Market6
Property Features for Ab-618 Maple Way
General Information
Standard status
Active
Size
2,012 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,818
Building Details
Buildings
1
Listing Agency:
Illustrious Realty, LLC
(971) 221-0117
Listed By:
China-Marie Hendren ONeal
(971) 221-0117
Source:
Exprealty
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 7:19PM
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 duplex contains two independently accessed residences, each arranged with three bedrooms, two bathrooms, and an open living concept. Interior details include wood-look flooring, neutral finishes, recessed lighting, ceiling fans, and bright living areas. Each kitchen is equipped with granite countertops, white cabinetry, a subway tile backsplash, and stainless steel appliances, including a refrigerator.
Separate entrances support privacy between the units and allow for distinct household use. The property is positioned in Houston with access to major roadways and everyday amenities. Its two-unit configuration can accommodate rental use, owner occupancy alongside a leased unit, or multigenerational living, as described in the property information.
Separate entrances support privacy between the units and allow for distinct household use. The property is positioned in Houston with access to major roadways and everyday amenities. Its two-unit configuration can accommodate rental use, owner occupancy alongside a leased unit, or multigenerational living, as described in the property information.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 baths in each residence
- Open‑concept layouts with separate entrances for each unit
- Granite kitchen countertops with white cabinetry and subway tile backsplash
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
$26,353
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
7.32%
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%
$527,060
$527.1K
Cap Rate 7%
$376,471
$376.5K
Cap Rate 9%
$292,811
$292.8K
Market Conditions
NOI Build-Up for 2,012 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
$39.8K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.6K $18.71/SF
− OpEx
−$11.3K −$5.61/SF
NOI
$26.4K $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%
$527,060
Cap Rate 7%
$376,471
Cap Rate 9%
$292,811
Alternative Uses
Best Use
Multifamily LT 5
$376.5K
$329.4K – $439.2K
NOI $26,353 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,794 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$517.4K
$452.7K – $603.6K
NOI $36,216 @ 7.0% cap · market cap 10.06%
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
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 77015, TX
57,106
Population
19,961
Households
2.9
Avg Household Size
31
Median Age
11%
College-Educated
70%
High-School Grad
20.7 sq mi
ZIP Area
2,759
Density / Sq Mi
$57,324
Median Household Income
$34,477
Median Earnings
$1,169
Median Rent
$164,700
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 three-bedroom layouts, contemporary finishes, and private entrances for flexible occupancy.
Where is this duplex located?
The property is located at Ab-618 Maple Way Houston, TX.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 baths in each residence; Open‑concept layouts with separate entrances for each unit; Granite kitchen countertops with white cabinetry and subway tile backsplash
