New Construction Three-Story
For Sale
$414,999
Pending
Ab-8021 Birmingham St, Houston, TX 77028
Two matching residences feature open layouts, private primary suites, and one unit already leased.
Property Size2,578 SF
Days on Market78
Property Features for Ab-8021 Birmingham St
General Information
Standard status
Pending
Size
2,578 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Buildings
1
Stories
3
Listing Agency:
Nextgen Real Estate Properties
(832) 736-1673
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Jun 17
Changed: Aug 31
Last Checked: Sep 1 at 9:43PM
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 newly constructed duplex contains two three-story residences totaling 2,578 square feet. Each unit offers three bedrooms and 2.5 baths, with an open-concept main living area, contemporary kitchen finishes, and a floor plan arranged for separation and privacy. Two bedrooms and a shared bath occupy the second level, while the entire third floor is configured as a private primary suite.
Unit A is already leased, providing an established tenant arrangement at closing. The property is located 15 minutes from Downtown Houston and 5 minutes from the 610 Loop. It is also 10 minutes from the planned LBJ Hospital development, identified in the property information as scheduled for 2029.
Unit A is already leased, providing an established tenant arrangement at closing. The property is located 15 minutes from Downtown Houston and 5 minutes from the 610 Loop. It is also 10 minutes from the planned LBJ Hospital development, identified in the property information as scheduled for 2029.
Key Highlights
- New construction 3‑story duplex totaling 2578 square feet
- Each unit includes 3 bedrooms and 2.5 baths
- Unit A is already leased
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
$33,766
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
8.14%
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%
$675,320
$675.3K
Cap Rate 7%
$482,371
$482.4K
Cap Rate 9%
$375,178
$375.2K
Market Conditions
NOI Build-Up for 2,578 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
$51.0K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$48.2K $18.71/SF
− OpEx
−$14.5K −$5.61/SF
NOI
$33.8K $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%
$675,320
Cap Rate 7%
$482,371
Cap Rate 9%
$375,178
Alternative Uses
Best Use
Multifamily LT 5
$482.4K
$422.1K – $562.8K
NOI $33,766 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$417.2K
$365.1K – $486.8K
NOI $29,207 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$662.9K
$580.1K – $773.4K
NOI $46,404 @ 7.0% cap · market cap 11.18%
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
224
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 - Two matching residences feature open layouts, private primary suites, and one unit already leased.
Where is this duplex located?
The property is located at Ab-8021 Birmingham St Houston, TX.
What is the asking price?
The asking price for this property is $414,999.
What are key features of this property?
This property features: New construction 3‑story duplex totaling 2578 square feet; Each unit includes 3 bedrooms and 2.5 baths; Unit A is already leased
