Three-Unit Multifamily
For Sale
$279,999
330 Dorchester St, Houston, TX 77022
Three separate residences include a two-bedroom front unit and two additional units in a separate rear building.
Property Size1,917 SF
Days on Market105
Property Features for 330 Dorchester St
General Information
Standard status
Active
Size
1,917 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,684
Building Details
Building Size
1,917 SF
Year Built
1945
Stories
1
Listing Agency:
STEP REAL ESTATE
(832) 359-4357
Listed By:
Magaly Guajardo · License #734477
(832) 359-4357
Source:
Elliman
Added: May 18
Changed: Aug 29
Last Checked: Aug 29 at 1:31PM
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 STEP REAL ESTATE
Investment Insights
Based on property information with market context.
This three-unit multifamily property at 330 Dorchester St includes a front residence with 2 bedrooms, 1 bathroom, a living room, and kitchen. Laminate flooring runs throughout the front unit. A separate rear building contains two additional residences, each with a private living area and kitchen. The first-floor rear unit has its own entrance and individual gas and electricity meters, while the two rear residences share a water heater.
The property was built in 1945 and is located near Downtown Houston. Major highways, shopping, dining, and employment centers are identified nearby. The property also offers access to local transportation options, with a walk score of 34, a transit score of 38, and a bike score of 47.
The property was built in 1945 and is located near Downtown Houston. Major highways, shopping, dining, and employment centers are identified nearby. The property also offers access to local transportation options, with a walk score of 34, a transit score of 38, and a bike score of 47.
Key Highlights
- Three total residential units across a front residence and separate rear building
- Front unit offers 2 bedrooms, 1 bathroom, living room, and kitchen
- Rear building contains two additional units with living areas and kitchens
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
$25,108
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
8.97%
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%
$502,160
$502.2K
Cap Rate 7%
$358,686
$358.7K
Cap Rate 9%
$278,978
$279.0K
Market Conditions
NOI Build-Up for 1,917 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
$38.0K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$35.9K $18.71/SF
− OpEx
−$10.8K −$5.61/SF
NOI
$25.1K $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%
$502,160
Cap Rate 7%
$358,686
Cap Rate 9%
$278,978
Alternative Uses
Best Use
Multifamily LT 5
$358.7K
$313.9K – $418.5K
NOI $25,108 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$310.3K
$271.5K – $362.0K
NOI $21,718 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$492.9K
$431.3K – $575.1K
NOI $34,506 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
858
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?
Triplex - Three separate residences include a two-bedroom front unit and two additional units in a separate rear building.
Where is this triplex located?
The property is located at 330 Dorchester St Houston, TX.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: Three total residential units across a front residence and separate rear building; Front unit offers 2 bedrooms, 1 bathroom, living room, and kitchen; Rear building contains two additional units with living areas and kitchens
