New Construction
For Sale
$520,000
Ab-6502 Letcher St, Houston, TX 77028
Each residence has three bedrooms, a private one-car garage, and separate utility meters.
Property Size2,870 SF
Price / SF$181.18
Days on Market18
Property Features for Ab-6502 Letcher St
General Information
Standard status
Active
Size
2,870 SF
Total Parking Spaces
2
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
minor punch-list items remaining
Site & Location
Neighborhood
Settegast
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$1,317
Amenities
gated
EV charging
wine refrigerator
under-cabinet lighting
in-ceiling speakers
illuminated staircase
upgraded bathrooms
separate meters
Listing Agency:
Nextgen Real Estate Properties
(346) 888-2525
Listed By:
Ericka Spencer
(281) 782-2376
Source:
Exprealty
Added: Oct 6
Changed: Oct 21
Last Checked: Oct 23 at 11:13AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This newly built duplex contains 2,870 square feet across two residences, each configured with three bedrooms, 2.5 baths, and a private one-car garage. Modern interior features include upgraded bathrooms, under-cabinet lighting, in-ceiling speakers, an illuminated staircase, and a wine refrigerator. EV charging is also included, and each side has its own meters.
Unit B includes a private yard. The property is gated and remains in the final construction phase, with minor punch-list work underway.
Unit B includes a private yard. The property is gated and remains in the final construction phase, with minor punch-list work underway.
Key Highlights
- 2,870‑square‑foot duplex with two three‑bedroom residences
- Each side includes 3 bedrooms, 2.5 baths, and a private 1‑car garage
- Separate meters for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,590
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,800
$751.8K
Cap Rate 7%
$537,000
$537.0K
Cap Rate 9%
$417,667
$417.7K
Market Conditions
NOI Build-Up for 2,870 SF
Gross rent
$56.8K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$53.7K $18.71/SF
− OpEx
−$16.1K −$5.61/SF
NOI
$37.6K $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 Rate 5%
$751,800
Cap Rate 7%
$537,000
Cap Rate 9%
$417,667
Alternative Uses
Best Use
Multifamily LT 5
$537.0K
$469.9K – $626.5K
NOI $37,590 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$464.5K
$406.4K – $541.9K
NOI $32,515 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$738.0K
$645.8K – $861.0K
NOI $51,660 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, a private one-car garage, and separate utility meters.
Where is this duplex located?
The property is located at Ab-6502 Letcher St Houston, TX.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 2,870‑square‑foot duplex with two three‑bedroom residences; Each side includes 3 bedrooms, 2.5 baths, and a private 1‑car garage; Separate meters for each residence
