New Construction
For Sale
$395,000
Pending
Ab-7809 Queen St, Houston, TX 77028
Contemporary two-unit property with private entrances, fenced yards, and separate utility meters for flexible occupancy.
Property Size1,953 SF
Days on Market86
Property Features for Ab-7809 Queen St
General Information
Standard status
Pending
Size
1,953 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,359
Amenities
private entry
fenced yard
stainless steel appliances
walk-in closets
tiled bathrooms
Building Details
Buildings
1
Construction
modern
Listing Agency:
Nextgen Real Estate Properties
(832) 736-1673
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Jun 17
Changed: Sep 8
Last Checked: Sep 9 at 7:54AM
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.
This modern duplex contains approximately 1,953 square feet across two residences, with each side offering three bedrooms and two bathrooms. The interiors use open living areas, abundant natural light, wood-look flooring, black-and-white finishes, and designer lighting. Kitchens include quartz-style countertops, brass fixtures, and stainless steel appliances. Primary suites add walk-in closets and tiled bathrooms, while each residence has a private entrance and fenced yard.
Individually metered utilities support separate household operations. The property is located on Queen St in Houston, with access to major highways and proximity to Downtown Houston, the Medical Center, and the East End. Its two-unit layout is suited to an owner-occupant arrangement or separate leasing of each residence.
Individually metered utilities support separate household operations. The property is located on Queen St in Houston, with access to major highways and proximity to Downtown Houston, the Medical Center, and the East End. Its two-unit layout is suited to an owner-occupant arrangement or separate leasing of each residence.
Key Highlights
- Approximately 1,953 square feet across two duplex units
- Each side includes 3 bedrooms and 2 bathrooms
- Private entrances and fenced yards for both residences
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
$25,580
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
6.48%
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%
$511,600
$511.6K
Cap Rate 7%
$365,429
$365.4K
Cap Rate 9%
$284,222
$284.2K
Market Conditions
NOI Build-Up for 1,953 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
$38.7K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$36.5K $18.71/SF
− OpEx
−$11.0K −$5.61/SF
NOI
$25.6K $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 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%
$511,600
Cap Rate 7%
$365,429
Cap Rate 9%
$284,222
Alternative Uses
Best Use
Multifamily LT 5
$365.4K
$319.8K – $426.3K
NOI $25,580 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$316.1K
$276.6K – $368.8K
NOI $22,126 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$502.2K
$439.4K – $585.9K
NOI $35,154 @ 7.0% cap · market cap 8.90%
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
336
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Contemporary two-unit property with private entrances, fenced yards, and separate utility meters for flexible occupancy.
Where is this duplex located?
The property is located at Ab-7809 Queen St Houston, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Approximately 1,953 square feet across two duplex units; Each side includes 3 bedrooms and 2 bathrooms; Private entrances and fenced yards for both residences
