Renovated Detached
For Sale
$200,000
2531 Jones Street, Houston, TX 77026
Two separate residences offer an income-producing configuration with updated exteriors and individual climate-control systems.
Property Size1,481 SF
Days on Market152
Property Features for 2531 Jones Street
General Information
Standard status
Active
Size
1,481 SF
Property subtype
Multi Family,Duplex
Site & Location
Neighborhood
Greater Fifth Ward
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$950
Taxes and HOA fees
Annual Taxes
$3,278
Building Details
Building Size
1,481 SF
Year Built
1930
Buildings
2
Listing Agency:
Keller Williams Preferred
Listed By:
Michael Carbajal · License #0716312
(832) 380-1315
Source:
Mpowerrealtygroup
Added: May 28
Changed: Oct 14
Last Checked: Oct 25 at 12:57AM
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 Keller Williams Preferred
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Investment Insights
Based on property information with market context.
Built in 1930, this duplex consists of two detached houses, each offering 2 bedrooms and 1 bathroom. Both residences are occupied, creating an established income-producing setup. Exterior renovations have been completed, and the roof has been replaced. Newly installed mini-split systems provide separate heating and cooling equipment for the homes.
Located in Houston’s Greater Fifth Ward, the property also benefits from a utility arrangement in which tenants pay all utilities. The detached layout and matching floor plans provide a straightforward configuration for residential income ownership.
Located in Houston’s Greater Fifth Ward, the property also benefits from a utility arrangement in which tenants pay all utilities. The detached layout and matching floor plans provide a straightforward configuration for residential income ownership.
Key Highlights
- Two detached houses, each with 2 bedrooms and 1 bathroom
- Both units are occupied
- Exterior renovations completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,778
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,560
$335.6K
Cap Rate 7%
$239,686
$239.7K
Cap Rate 9%
$186,422
$186.4K
Market Conditions
NOI Build-Up for 1,481 SF
Gross rent
$32.5K $21.96/SF
− Vacancy
−$2.0K −$1.36/SF
EGI
$30.5K $20.60/SF
− OpEx
−$13.7K −$9.27/SF
NOI
$16.8K $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 Rate 5%
$335,560
Cap Rate 7%
$239,686
Cap Rate 9%
$186,422
Alternative Uses
Best Use
Multifamily LT 5
$277.1K
$242.5K – $323.3K
NOI $19,398 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$239.7K
$209.7K – $279.6K
NOI $16,778 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$380.8K
$333.2K – $444.3K
NOI $26,658 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 77026, TX
23,405
Population
9,580
Households
2.4
Avg Household Size
36
Median Age
9%
College-Educated
70%
High-School Grad
6.6 sq mi
ZIP Area
3,546
Density / Sq Mi
$34,835
Median Household Income
$29,339
Median Earnings
$962
Median Rent
$104,800
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer an income-producing configuration with updated exteriors and individual climate-control systems.
Where is this duplex located?
The property is located at 2531 Jones Street Houston, TX.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two detached houses, each with 2 bedrooms and 1 bathroom; Both units are occupied; Exterior renovations completed
