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Houston Duplex Investment | Strong Rental 428 Rhode Island st 2 Unit Apartment Building $365,000 ($182,500/Unit) 6.81% Cap Rate Houston, TX 77029
Investment Highlights
- Brand-new 2026 construction
- Lease-up opportunity for increased yield
- Flexible use (STR, LTR, owner-occupant)
- High-quality builder finishes
- Located in emerging submarket
Executive Summary
Modern duplex opportunity at 428 Rhode Island offering two units with 3 bedrooms and 2 bathrooms each, designed with brand new finishes and a sleek, contemporary feel throughout. Each unit features spacious bedrooms, spa-inspired bathrooms, and ambient lighting that creates a warm and elevated living experience. The layout includes one unit upstairs and one downstairs, ideal for flexibility and privacy. Conveniently located with quick access to major highways, making commuting throughout Houston simple and efficient. Property includes a private driveway and functional layout perfect for both owner-occupants and investors. Great opportunity to house hack by living in one unit and renting the other, or fully lease both units to build your rental portfolio in a prime, high-demand area.
Property Facts
| Price | $365,000 | Apartment Style | Townhome |
| Price Per Unit | $182,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.81% | Building Size | 2,374 SF |
| Sale Condition | Build to Suit | Average Occupancy | 0% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment | ||
| Zoning | Duplex / Multifamily - Duplex / Multifamily | ||
| Price | $365,000 |
| Price Per Unit | $182,500 |
| Sale Type | Investment |
| Cap Rate | 6.81% |
| Sale Condition | Build to Suit |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,374 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 2026 |
| Zoning | Duplex / Multifamily - Duplex / Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $1,775 | 1,187 |
| 3+2 | 2 | $1,775 | 1,187 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0141100080031 | Improvements Assessment | $0 |
| Land Assessment | $46,750 | Total Assessment | $46,750 |
Property Taxes
Parcel Number
0141100080031
Land Assessment
$46,750
Improvements Assessment
$0
Total Assessment
$46,750
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Houston Duplex Investment | Strong Rental | 428 Rhode Island st
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