New Construction
New
For Sale
$409,900
251 Calloway Street, Houston, TX 77029
Two separate residences provide three-bedroom layouts with front surface parking.
Property Size2,189 SF
Price / SF$187.25
Days on Market4
Property Features for 251 Calloway Street
General Information
Standard status
Active
Size
2,189 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,242
Amenities
Laminate
Family Room,Kitchen,Living Room,Utility Room
Yes
2
No
3
Low-Emissivity Windows
Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Builder
All Bedrooms Down,Double Vanity,Kitchen/Family Room Combo,Self-closing Cabinet Doors,Self-closing Drawers,Tub Shower,Walk-In Closet(s),Kitchen/Dining Combo,Living/Dining Room,Programmable Thermostat
Back Yard
Cleared,Subdivision
Public
6621
0.152
Appraiser
Asphalt
Fully Fenced,Fence,Private Yard
Slab
2189
Building Details
Building Size
2,189 SF
Year Built
2026
Buildings
1
Stories
1
Listing Agency:
Jane Byrd Properties International LLC
(281) 444-5140
Listed By:
Cylette Allbritton
(832) 620-7725
Source:
Garygreene
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 10:02AM
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 Jane Byrd Properties International LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this single-story duplex contains two residences measuring 1,100 SF and 1,089 SF. Each unit has three bedrooms and two bathrooms, with an open kitchen and living area. Interior finishes include laminate flooring, quartz countertops, stainless steel appliances, and shaker-style cabinetry. The primary bedroom includes an en-suite bathroom with dual vanities and a walk-in closet.
The property occupies a 0.152-acre subdivision lot at 251 Calloway Street in Houston. Surface parking is located in front of the building; the site is cleared and fully fenced.
The property occupies a 0.152-acre subdivision lot at 251 Calloway Street in Houston. Surface parking is located in front of the building; the site is cleared and fully fenced.
Key Highlights
- Two‑unit duplex with 1,100 SF and 1,089 SF residences
- Each residence has 3 bedrooms and 2 bathrooms
- Built in 2026; single‑story construction
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
$28,671
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
6.99%
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%
$573,420
$573.4K
Cap Rate 7%
$409,586
$409.6K
Cap Rate 9%
$318,567
$318.6K
Market Conditions
NOI Build-Up for 2,189 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
$43.3K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$41.0K $18.71/SF
− OpEx
−$12.3K −$5.61/SF
NOI
$28.7K $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%
$573,420
Cap Rate 7%
$409,586
Cap Rate 9%
$318,567
Alternative Uses
Best Use
Multifamily LT 5
$409.6K
$358.4K – $477.9K
NOI $28,671 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$354.3K
$310.0K – $413.3K
NOI $24,800 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$562.9K
$492.5K – $656.7K
NOI $39,402 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
225
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 separate residences provide three-bedroom layouts with front surface parking.
Where is this duplex located?
The property is located at 251 Calloway Street Houston, TX.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,100 SF and 1,089 SF residences; Each residence has 3 bedrooms and 2 bathrooms; Built in 2026; single‑story construction
