New Construction Duplex with
For Sale
$525,000
Ab-9217 Noel St, Houston, TX 77033
Two residences feature private garages, flexible outdoor space, and upgraded finishes throughout.
Property Size3,501 SF
Price / SF$149.96
Days on Market56
Property Features for Ab-9217 Noel St
General Information
Standard status
Active
Size
3,501 SF
Property subtype
Residential Income
Listing Agency:
Nextgen Real Estate Properties
(346) 304-1590
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Jul 9
Changed: Aug 31
Last Checked: Sep 1 at 10:41PM
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 at Ab-9217 Noel St in Houston, this newly built duplex combines two residences under one address. Each home includes three bedrooms, two-and-a-half baths, a private garage, 12-foot ceilings, oversized windows, an open living area, a modern fireplace, and a designer kitchen with European-style cabinetry and waterfall quartz countertops.
The primary suites feature freestanding soaking tubs, large glass-enclosed showers, dual vanities, floating cabinetry, and walk-in closets. Front porches, rear porches, and private balconies extend the usable living space. The property has no HOA and is positioned near the Texas Medical Center, Downtown Houston, major universities, and employment centers. Completion is expected within 60 days.
The primary suites feature freestanding soaking tubs, large glass-enclosed showers, dual vanities, floating cabinetry, and walk-in closets. Front porches, rear porches, and private balconies extend the usable living space. The property has no HOA and is positioned near the Texas Medical Center, Downtown Houston, major universities, and employment centers. Completion is expected within 60 days.
Key Highlights
- Two residences under one address at Ab‑9217 Noel St, Houston, TX
- Each unit includes 3 bedrooms, 2.5 baths, and a private garage
- 12‑foot ceilings, oversized windows, open‑concept interiors, and modern fireplaces
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
$45,855
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
8.73%
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%
$917,100
$917.1K
Cap Rate 7%
$655,071
$655.1K
Cap Rate 9%
$509,500
$509.5K
Market Conditions
NOI Build-Up for 3,501 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
$69.3K $19.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$65.5K $18.71/SF
− OpEx
−$19.7K −$5.61/SF
NOI
$45.9K $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%
$917,100
Cap Rate 7%
$655,071
Cap Rate 9%
$509,500
Alternative Uses
Best Use
Multifamily LT 5
$655.1K
$573.2K – $764.3K
NOI $45,855 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$566.6K
$495.8K – $661.1K
NOI $39,663 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$900.3K
$787.7K – $1.05M
NOI $63,018 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 77033, TX
28,369
Population
10,228
Households
2.8
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
4,977
Density / Sq Mi
$37,081
Median Household Income
$28,459
Median Earnings
$1,204
Median Rent
$98,300
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 residences feature private garages, flexible outdoor space, and upgraded finishes throughout.
Where is this duplex located?
The property is located at Ab-9217 Noel St Houston, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two residences under one address at Ab‑9217 Noel St, Houston, TX; Each unit includes 3 bedrooms, 2.5 baths, and a private garage; 12‑foot ceilings, oversized windows, open‑concept interiors, and modern fireplaces
