New Construction
For Sale
$535,000
Pending
Ab-8203 Calhoun Rd, Houston, TX 77004
Contemporary finishes, gated driveways, and fenced outdoor areas support private residential use.
Property Size2,900 SF
Days on Market56
Property Features for Ab-8203 Calhoun Rd
General Information
Standard status
Pending
Size
2,900 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Listing Agency:
Nextgen Real Estate Properties
(346) 888-2525
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Jul 9
Changed: Aug 28
Last Checked: Sep 2 at 1:29AM
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 new-construction duplex contains 2,900 square feet and features an open layout with 10-foot ceilings throughout, including a 12-foot ceiling in the main living area. The interiors combine contemporary finishes with a Venetian plaster fireplace wall and a kitchen equipped with Taj Mahal quartz countertops, Samsung appliances, a 36-inch range hood, and generous prep space. Each residence includes a primary suite with dual vanities, a walk-in shower, and a walk-in closet, along with a walk-in utility room.
Individually gated driveways and private fenced yards provide separate outdoor areas for the residences. The property is positioned near Downtown Houston, the Medical Center, and major freeways.
Individually gated driveways and private fenced yards provide separate outdoor areas for the residences. The property is positioned near Downtown Houston, the Medical Center, and major freeways.
Key Highlights
- New‑construction duplex with 2,900 square feet
- 3 bedrooms and 2 bathrooms
- 10‑foot ceilings throughout with a 12‑foot main living area ceiling
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
$37,983
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
7.10%
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%
$759,660
$759.7K
Cap Rate 7%
$542,614
$542.6K
Cap Rate 9%
$422,033
$422.0K
Market Conditions
NOI Build-Up for 2,900 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
$57.4K $19.80/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$54.3K $18.71/SF
− OpEx
−$16.3K −$5.61/SF
NOI
$38.0K $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%
$759,660
Cap Rate 7%
$542,614
Cap Rate 9%
$422,033
Alternative Uses
Best Use
Multifamily LT 5
$542.6K
$474.8K – $633.1K
NOI $37,983 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$469.4K
$410.7K – $547.6K
NOI $32,855 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$745.7K
$652.5K – $870.0K
NOI $52,200 @ 7.0% cap · market cap 9.76%
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
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
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 finishes, gated driveways, and fenced outdoor areas support private residential use.
Where is this duplex located?
The property is located at Ab-8203 Calhoun Rd Houston, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: New‑construction duplex with 2,900 square feet; 3 bedrooms and 2 bathrooms; 10‑foot ceilings throughout with a 12‑foot main living area ceiling
