Designer-Finished
For Sale
$599,990
Pending
2961 - 2959 Delafield Street, Houston, TX 77023
Two residences sit within a privately gated community, with downtown and several major Houston destinations accessible nearby.
Property Size3,372 SF
Days on Market24
Property Features for 2961 - 2959 Delafield Street
General Information
Standard status
Pending
Size
3,372 SF
Property subtype
Multi Family,Duplex
Site & Location
Neighborhood
Lawndale / Wayside
Highway Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,368
Amenities
gated community
Building Details
Building Size
3,372 SF
Year Built
2026
Buildings
1
Listing Agency:
New Age
Listed By:
Ashwin Kewalramani · License #0700464
(713) 373-7401
Source:
Mpowerrealtygroup
Added: Oct 3
Changed: Oct 25
Last Checked: Oct 24 at 11:17PM
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 New Age
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Investment Insights
Based on property information with market context.
Built in 2026, this Houston duplex contains two residences within a privately gated community. Interior features include waterfall quartz islands, custom metal railings, double-height living areas, oversized windows, and primary suites with five-piece baths and European-style wet rooms. The interiors were designed by VIARQ Designers, and the property includes an ACES 1-2-6 warranty.
The property offers access to Downtown, EaDo, the University of Houston, the Medical Center, and major freeways.
The property offers access to Downtown, EaDo, the University of Houston, the Medical Center, and major freeways.
Key Highlights
- Two residences within a privately gated community
- Built in 2026
- Waterfall quartz islands and custom metal railings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,165
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,300
$883.3K
Cap Rate 7%
$630,929
$630.9K
Cap Rate 9%
$490,722
$490.7K
Market Conditions
NOI Build-Up for 3,372 SF
Gross rent
$66.8K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$63.1K $18.71/SF
− OpEx
−$18.9K −$5.61/SF
NOI
$44.2K $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 Rate 5%
$883,300
Cap Rate 7%
$630,929
Cap Rate 9%
$490,722
Alternative Uses
Best Use
Multifamily LT 5
$630.9K
$552.1K – $736.1K
NOI $44,165 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$545.7K
$477.5K – $636.7K
NOI $38,202 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$867.1K
$758.7K – $1.01M
NOI $60,696 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
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 residences sit within a privately gated community, with downtown and several major Houston destinations accessible nearby.
Where is this duplex located?
The property is located at 2961 - 2959 Delafield Street Houston, TX.
What is the asking price?
The asking price for this property is $599,990.
What are key features of this property?
This property features: Two residences within a privately gated community; Built in 2026; Waterfall quartz islands and custom metal railings
