New Construction
New
For Sale
$349,900
333 Delaware St, Houston, TX 77029
Two-unit property featuring contemporary layouts with convenient connections to major highways.
Property Size2,360 SF
Days on Market3
Property Features for 333 Delaware St
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,193
Building Details
Building Size
2,360 SF
Year Built
2026
Stories
2
Units
1
Listing Agency:
(346) 702-6644
Listed By:
Henry Martinez
(346) 702-6644
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 11:32AM
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 Henry Martinez
Investment Insights
Based on property information with market context.
This duplex property is identified as new construction with a 2026 build year. The two-unit configuration includes contemporary layouts designed for modern residential use, creating a straightforward income-property format with separate living spaces.
Located at 333 Delaware St in Houston, the property is near Downtown, NRG Stadium, and the Texas Medical Center. Highway access includes 610, providing connections for residents traveling throughout the area. Walk Score, Bike Score, and Transit Score are 22, 31, and 24, respectively.
Located at 333 Delaware St in Houston, the property is near Downtown, NRG Stadium, and the Texas Medical Center. Highway access includes 610, providing connections for residents traveling throughout the area. Walk Score, Bike Score, and Transit Score are 22, 31, and 24, respectively.
Key Highlights
- New construction duplex property
- Built in 2026
- Two‑unit configuration with contemporary layouts
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
$30,911
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
8.83%
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%
$618,220
$618.2K
Cap Rate 7%
$441,586
$441.6K
Cap Rate 9%
$343,456
$343.5K
Market Conditions
NOI Build-Up for 2,360 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
$46.7K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.2K $18.71/SF
− OpEx
−$13.2K −$5.61/SF
NOI
$30.9K $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%
$618,220
Cap Rate 7%
$441,586
Cap Rate 9%
$343,456
Alternative Uses
Best Use
Multifamily LT 5
$441.6K
$386.4K – $515.2K
NOI $30,911 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$382.0K
$334.2K – $445.6K
NOI $26,737 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$606.9K
$531.0K – $708.0K
NOI $42,480 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 77029, TX
17,044
Population
6,386
Households
2.7
Avg Household Size
36
Median Age
9%
College-Educated
62%
High-School Grad
10.6 sq mi
ZIP Area
1,608
Density / Sq Mi
$49,601
Median Household Income
$32,614
Median Earnings
$1,129
Median Rent
$115,400
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-unit property featuring contemporary layouts with convenient connections to major highways.
Where is this duplex located?
The property is located at 333 Delaware St Houston, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: New construction duplex property; Built in 2026; Two‑unit configuration with contemporary layouts
