Three-Story Residential Income
For Sale
$380,000
1304 Dart Street F, Houston, TX 77007
Tenant occupancy continues through 2027, offering an investor holding period and future residential use.
Property Size1,954 SF
Price / SF$194.47
Days on Market46
Property Features for 1304 Dart Street F
General Information
Standard status
Active
Size
1,954 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
outdoor space
stainless steel appliances
Building Details
Year Built
2001
Stories
3
Tenancy
Single
Listing Agency:
Nan & Company Properties - Corporate Office (Heights)
Listed By:
Andrew Lin · License #0653842
(713) 653-3455
Source:
Doorstephomegroup
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 10 at 12:13AM
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 Nan & Company Properties - Corporate Office (Heights)
Investment Insights
Based on property information with market context.
This three-story residential income property at 1304 Dart Street F offers 1,954 square feet with three bedrooms and 3.5 bathrooms. The interior includes an open-concept living area, stainless steel appliances, and outdoor space, while downtown views add to the property’s setting. Built in 2001, the home combines a vertical layout with features suited to residential occupancy.
The property is currently tenant occupied through 2027 and may also serve a purchaser planning for a later move-in. Its Houston location provides access to dining and entertainment, as well as the Heights, Montrose, and Downtown. Major highway connections include I-10, 610, 45, and 59.
The property is currently tenant occupied through 2027 and may also serve a purchaser planning for a later move-in. Its Houston location provides access to dining and entertainment, as well as the Heights, Montrose, and Downtown. Major highway connections include I-10, 610, 45, and 59.
Key Highlights
- Tenant occupied through 2027
- 1,954‑square‑foot, three‑story residence
- Three bedrooms and 3.5 bathrooms
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
$22,137
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
5.83%
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%
$442,740
$442.7K
Cap Rate 7%
$316,243
$316.2K
Cap Rate 9%
$245,967
$246.0K
Market Conditions
NOI Build-Up for 1,954 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
$42.9K $21.96/SF
− Vacancy
−$2.7K −$1.36/SF
EGI
$40.2K $20.60/SF
− OpEx
−$18.1K −$9.27/SF
NOI
$22.1K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$442,740
Cap Rate 7%
$316,243
Cap Rate 9%
$245,967
Alternative Uses
Best Use
Apartment 5plus
$316.2K
$276.7K – $369.0K
NOI $22,137 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$502.5K
$439.7K – $586.2K
NOI $35,172 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,792
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant occupancy continues through 2027, offering an investor holding period and future residential use.
Where is this residential income property located?
The property is located at 1304 Dart Street F Houston, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Tenant occupied through 2027; 1,954‑square‑foot, three‑story residence; Three bedrooms and 3.5 bathrooms
