Two-Unit Duplex with Patio
New
For Sale
$600,000
C-d-5225 Hillman St, Houston, TX 77023
Two independent residences provide flexible ownership, rental, and multigenerational living options.
Property Size3,582 SF
Price / SF$167.50
Days on Market6
Property Features for C-d-5225 Hillman St
General Information
Standard status
Active
Size
3,582 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$994
Building Details
Buildings
2
Stories
2
Listing Agency:
Trotwood Realty
(713) 222-7400
Listed By:
Shawn Baksh · License #583879
(713) 498-3737
Source:
Exprealty
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 5 at 11:57AM
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 Trotwood Realty
Investment Insights
Based on property information with market context.
This duplex-style property brings together two separate single-family patio homes under one ownership arrangement. Each residence spans two stories and contains 3 bedrooms, 2.5 bathrooms, and individually arranged living areas. The homes feature high-end finishes and maintain separate residential layouts, allowing the property to function as two independent residences while being managed together.
The combined property measures 3,582 square feet and is located on Hillman St in Houston, Texas. Its two-home configuration supports several ownership approaches, including occupying one residence while renting the other, maintaining both as rental units, or using the residences for multigenerational living. The separate-home design also distinguishes the asset from a conventional single dwelling.
The combined property measures 3,582 square feet and is located on Hillman St in Houston, Texas. Its two-home configuration supports several ownership approaches, including occupying one residence while renting the other, maintaining both as rental units, or using the residences for multigenerational living. The separate-home design also distinguishes the asset from a conventional single dwelling.
Key Highlights
- Two separate single‑family patio homes offered together
- Each residence includes 3 bedrooms and 2.5 bathrooms
- Two‑story layout 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
$46,916
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
7.82%
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%
$938,320
$938.3K
Cap Rate 7%
$670,229
$670.2K
Cap Rate 9%
$521,289
$521.3K
Market Conditions
NOI Build-Up for 3,582 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
$70.9K $19.80/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$67.0K $18.71/SF
− OpEx
−$20.1K −$5.61/SF
NOI
$46.9K $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%
$938,320
Cap Rate 7%
$670,229
Cap Rate 9%
$521,289
Alternative Uses
Best Use
Multifamily LT 5
$670.2K
$586.5K – $781.9K
NOI $46,916 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$579.7K
$507.3K – $676.4K
NOI $40,581 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$921.1K
$806.0K – $1.07M
NOI $64,476 @ 7.0% cap · market cap 10.75%
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
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences provide flexible ownership, rental, and multigenerational living options.
Where is this duplex located?
The property is located at C-d-5225 Hillman St Houston, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two separate single‑family patio homes offered together; Each residence includes 3 bedrooms and 2.5 bathrooms; Two‑story layout for each home
