New Duplex with Private
For Sale
$693,000
Cd-3503 Rebecca St, Houston, TX 77022
Two distinct residences support owner occupancy, rental use, or multigenerational living.
Property Size3,428 SF
Price / SF$202.16
Days on Market15
Property Features for Cd-3503 Rebecca St
General Information
Standard status
Active
Size
3,428 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/2.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,474
Amenities
private balcony
fenced yard
smart home tech
energy efficient construction
private side entrance
quartz countertops
waterfall island
pot filler
Building Details
Buildings
1
Listing Agency:
Keller Williams Memorial
(917) 684-5716
Listed By:
Kishana Strawn
(917) 684-5716
Source:
Exprealty
Added: Aug 8
Changed: Aug 21
Last Checked: Aug 22 at 12:17PM
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 Keller Williams Memorial
Investment Insights
Based on property information with market context.
This brand-new duplex contains two separately identified residences with flexible living arrangements. Unit C provides 4 bedrooms and 2.5 baths, while Unit D includes 3 bedrooms and 2.5 baths. Shared design features include quartz countertops, a waterfall kitchen island, a pot filler, smart-home technology, and energy-efficient construction. A private side entrance, balcony, and fenced yard add functional separation and outdoor space.
The property is located in Houston’s University Area, with access to the Medical Center, Downtown, and major freeways described as minutes away. Its configuration supports an owner-occupied residence alongside a separate rental, dual-rental use, short-term rental use, or multigenerational living.
The property is located in Houston’s University Area, with access to the Medical Center, Downtown, and major freeways described as minutes away. Its configuration supports an owner-occupied residence alongside a separate rental, dual-rental use, short-term rental use, or multigenerational living.
Key Highlights
- 3,428 SF duplex with two separately identified residences
- Unit C offers 4 bedrooms and 2.5 baths
- Unit D offers 3 bedrooms and 2.5 baths
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
$44,899
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
6.48%
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%
$897,980
$898.0K
Cap Rate 7%
$641,414
$641.4K
Cap Rate 9%
$498,878
$498.9K
Market Conditions
NOI Build-Up for 3,428 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
$67.9K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$64.1K $18.71/SF
− OpEx
−$19.2K −$5.61/SF
NOI
$44.9K $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%
$897,980
Cap Rate 7%
$641,414
Cap Rate 9%
$498,878
Alternative Uses
Best Use
Multifamily LT 5
$641.4K
$561.2K – $748.3K
NOI $44,899 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$554.8K
$485.5K – $647.3K
NOI $38,836 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$881.5K
$771.3K – $1.03M
NOI $61,704 @ 7.0% cap · market cap 8.90%
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
1,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 77022, TX
28,748
Population
10,717
Households
2.7
Avg Household Size
35
Median Age
13%
College-Educated
63%
High-School Grad
5.8 sq mi
ZIP Area
4,957
Density / Sq Mi
$48,386
Median Household Income
$28,877
Median Earnings
$1,047
Median Rent
$197,200
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 distinct residences support owner occupancy, rental use, or multigenerational living.
Where is this duplex located?
The property is located at Cd-3503 Rebecca St Houston, TX.
What is the asking price?
The asking price for this property is $693,000.
What are key features of this property?
This property features: 3,428 SF duplex with two separately identified residences; Unit C offers 4 bedrooms and 2.5 baths; Unit D offers 3 bedrooms and 2.5 baths
