Renovated Detached
For Sale
$210,000
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 Market89
Property Features for 2531 Jones Street
General Information
Standard status
Active
Size
1,481 SF
Property subtype
Multi Family,Duplex
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
(832) 380-1315
Listed By:
Michael Carbajal
(832) 380-1315
Source:
Mpowerrealtygroup
Added: May 28
Changed: Aug 17
Last Checked: Aug 24 at 2:14PM
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
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 = 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
$16,778
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
7.99%
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%
$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
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
$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 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%
$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 9.24%
Second Best
Apartment 5plus
$239.7K
$209.7K – $279.6K
NOI $16,778 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$380.8K
$333.2K – $444.3K
NOI $26,658 @ 7.0% cap · market cap 12.69%
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
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
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 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 $210,000.
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
