New Duplex with Private
For Sale
$610,000
Ab-902 Ringold St, Houston, TX 77088
New construction duplex with separate entrances and outdoor space for each residence.
Property Size2,960 SF
Price / SF$206.08
Days on Market19
Property Features for Ab-902 Ringold St
General Information
Standard status
Active
Size
2,960 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/3.5BA
Multifamily Units
2
Parking per Unit
2
Building Details
Buildings
1
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Aug 6
Changed: Aug 23
Last Checked: Aug 23 at 3:04AM
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.
Located on a corner lot at Ab-902 Ringold St in Houston’s Highland Heights, this brand-new duplex contains 2,960 square feet across two residences. Each home offers 3 bedrooms, 3.5 baths, a private 2-car garage, its own entrance, and dedicated outdoor space.
Interior details include tall ceilings, oversized windows, a modern fireplace, and European-inspired kitchens with wood cabinetry and waterfall islands. Primary suites feature freestanding soaking tubs, large glass showers, dual floating vanities, and expansive walk-in closets. Secondary bathrooms continue the contemporary finish package with stone-inspired tile.
Interior details include tall ceilings, oversized windows, a modern fireplace, and European-inspired kitchens with wood cabinetry and waterfall islands. Primary suites feature freestanding soaking tubs, large glass showers, dual floating vanities, and expansive walk-in closets. Secondary bathrooms continue the contemporary finish package with stone-inspired tile.
Key Highlights
- 2,960‑square‑foot duplex on a corner lot in Highland Heights
- Each residence includes 3 bedrooms and 3.5 baths
- Private 2‑car garage, entrance, and outdoor space for each home
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
$38,769
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
6.36%
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%
$775,380
$775.4K
Cap Rate 7%
$553,843
$553.8K
Cap Rate 9%
$430,767
$430.8K
Market Conditions
NOI Build-Up for 2,960 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
$58.6K $19.80/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$55.4K $18.71/SF
− OpEx
−$16.6K −$5.61/SF
NOI
$38.8K $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%
$775,380
Cap Rate 7%
$553,843
Cap Rate 9%
$430,767
Alternative Uses
Best Use
Multifamily LT 5
$553.8K
$484.6K – $646.2K
NOI $38,769 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$479.1K
$419.2K – $558.9K
NOI $33,534 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$761.1K
$666.0K – $888.0K
NOI $53,280 @ 7.0% cap · market cap 8.73%
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
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 77088, TX
54,320
Population
18,500
Households
2.9
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
11.1 sq mi
ZIP Area
4,894
Density / Sq Mi
$52,549
Median Household Income
$32,015
Median Earnings
$1,177
Median Rent
$173,900
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 - New construction duplex with separate entrances and outdoor space for each residence.
Where is this duplex located?
The property is located at Ab-902 Ringold St Houston, TX.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: 2,960‑square‑foot duplex on a corner lot in Highland Heights; Each residence includes 3 bedrooms and 3.5 baths; Private 2‑car garage, entrance, and outdoor space for each home
