Established Short-Term Rental
New
For Sale
$1,389,000
2512 Calumet St 6, Houston, TX 77004
Operating Airbnb rental near Downtown Houston with strong historical occupancy and access to urban destinations.
Property Size6,097 SF
Days on Market3
Property Features for 2512 Calumet St 6
General Information
Standard status
Active
Size
6,097 SF
Property subtype
Investment
Lease Term
Month-to-month
Additional Details
Gross Income
$187,000
Taxes and HOA fees
Annual Taxes
$18,975
Building Details
Building Size
6,097 SF
Year Built
1955
Stories
2
Listing Agency:
ListingSpark
Listed By:
Aaron Jistel · License #0548216
(877) 897-7275
Source:
Elliman
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 7:13AM
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 ListingSpark
Investment Insights
Based on property information with market context.
This short-term rental property at 2512 Calumet St 6 in Houston has been operated as an Airbnb for approximately 3–4 years. Built in 1955, the asset has a documented operating history and has historically achieved approximately 95% occupancy.
The property is positioned near Downtown Houston, with access to attractions, employment centers, dining, entertainment, and medical destinations. Walk Score, Bike Score, and Transit Score are 93, 74, and 75, respectively, reflecting convenient access to walking, bicycling, and public transportation options.
The established rental operation offers an existing platform for continued short-term use, subject to applicable requirements and verification of operating records.
The property is positioned near Downtown Houston, with access to attractions, employment centers, dining, entertainment, and medical destinations. Walk Score, Bike Score, and Transit Score are 93, 74, and 75, respectively, reflecting convenient access to walking, bicycling, and public transportation options.
The established rental operation offers an existing platform for continued short-term use, subject to applicable requirements and verification of operating records.
Key Highlights
- Short‑term rental property at 2512 Calumet St 6, Houston, TX 77004
- Operated as an Airbnb for approximately 3–4 years
- Historical occupancy of approximately 95%
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
$69,074
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
4.97%
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%
$1,381,480
$1.4M
Cap Rate 7%
$986,771
$986.8K
Cap Rate 9%
$767,489
$767.5K
Market Conditions
NOI Build-Up for 6,097 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
$133.9K $21.96/SF
− Vacancy
−$8.3K −$1.36/SF
EGI
$125.6K $20.60/SF
− OpEx
−$56.5K −$9.27/SF
NOI
$69.1K $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%
$1,381,480
Cap Rate 7%
$986,771
Cap Rate 9%
$767,489
Alternative Uses
Best Use
Apartment 5plus
$986.8K
$863.4K – $1.15M
NOI $69,074 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,746 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Operating Airbnb rental near Downtown Houston with strong historical occupancy and access to urban destinations.
Where is this short term rental property located?
The property is located at 2512 Calumet St 6 Houston, TX.
What is the asking price?
The asking price for this property is $1,389,000.
What are key features of this property?
This property features: Short‑term rental property at 2512 Calumet St 6, Houston, TX 77004; Operated as an Airbnb for approximately 3–4 years; Historical occupancy of approximately 95%
