Corner-Lot
For Sale
$500,000
2416 Whitney Street, Houston, TX 77006
Montrose duplex near Downtown, the Texas Medical Center, and the Museum District.
Property Size1,932 SF
Days on Market106
Property Features for 2416 Whitney Street
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Multi Family,Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,400
Building Details
Building Size
1,932 SF
Year Built
1920
Listing Agency:
Douglas Elliman Real Estate
(346) 228-0613
Listed By:
Cesar Chapa
(346) 228-0613
Source:
Mpowerrealtygroup
Added: Apr 29
Changed: Aug 11
Last Checked: Aug 12 at 3:28PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This duplex occupies a corner lot in Houston’s Montrose area and was built in 1920. The property is positioned near several major Houston destinations, including Downtown, the Texas Medical Center, and the Museum District.
Additional surrounding amenities include dining, shopping, and entertainment venues in the Montrose area. The location provides access to established urban neighborhoods and nearby employment, cultural, and commercial centers.
Additional surrounding amenities include dining, shopping, and entertainment venues in the Montrose area. The location provides access to established urban neighborhoods and nearby employment, cultural, and commercial centers.
Key Highlights
- Duplex on a corner lot
- Built in 1920
- Located in Houston’s Montrose area
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
$25,305
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
5.06%
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%
$506,100
$506.1K
Cap Rate 7%
$361,500
$361.5K
Cap Rate 9%
$281,167
$281.2K
Market Conditions
NOI Build-Up for 1,932 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
$38.3K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$36.1K $18.71/SF
− OpEx
−$10.8K −$5.61/SF
NOI
$25.3K $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%
$506,100
Cap Rate 7%
$361,500
Cap Rate 9%
$281,167
Alternative Uses
Best Use
Multifamily LT 5
$361.5K
$316.3K – $421.8K
NOI $25,305 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$312.7K
$273.6K – $364.8K
NOI $21,888 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$496.8K
$434.7K – $579.6K
NOI $34,776 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,141
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
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 - Montrose duplex near Downtown, the Texas Medical Center, and the Museum District.
Where is this duplex located?
The property is located at 2416 Whitney Street Houston, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Duplex on a corner lot; Built in 1920; Located in Houston’s Montrose area
