Renovated
For Sale
$275,000
3201 Adelia Street, Houston, TX 77026
The property contains one residence available for lease and one tenant-occupied unit.
Property Size792 SF
Days on Market10
Property Features for 3201 Adelia Street
General Information
Standard status
Active
Size
792 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Zoning
commercial/residential
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Building Size
792 SF
Year Built
1938
Listing Agency:
White Picket Realty LLC
Listed By:
Alan Hernandez
(832) 532-9229
Source:
Nanproperties
Added: Aug 25
Changed: Aug 30
Last Checked: Sep 2 at 9:19PM
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 White Picket Realty LLC
Investment Insights
Based on property information with market context.
This renovated duplex includes two separate residences. One is a 2-bedroom, 1-bath single-family home currently available for lease. The second is a studio-style 1-bedroom, 1-bath unit with an existing tenant. The property was built in 1938 and has undergone rehabilitation work.
Zoned commercial/residential, the property is located at 3201 Adelia Street in Houston. Downtown Houston, Hardy Yards, Saint Arnold Brewing, the East End, and major highways are identified as nearby destinations. New construction and redevelopment are also present in the surrounding area.
Zoned commercial/residential, the property is located at 3201 Adelia Street in Houston. Downtown Houston, Hardy Yards, Saint Arnold Brewing, the East End, and major highways are identified as nearby destinations. New construction and redevelopment are also present in the surrounding area.
Key Highlights
- Two‑residence duplex with one home available for lease and one tenant‑occupied unit
- 2‑bedroom, 1‑bath single‑family residence
- Studio‑style 1‑bedroom, 1‑bath tenant‑occupied unit
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
$10,373
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
3.77%
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%
$207,460
$207.5K
Cap Rate 7%
$148,186
$148.2K
Cap Rate 9%
$115,256
$115.3K
Market Conditions
NOI Build-Up for 792 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
$15.7K $19.80/SF
− Vacancy
−$862 −$1.09/SF
EGI
$14.8K $18.71/SF
− OpEx
−$4.4K −$5.61/SF
NOI
$10.4K $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%
$207,460
Cap Rate 7%
$148,186
Cap Rate 9%
$115,256
Alternative Uses
Best Use
Multifamily LT 5
$148.2K
$129.7K – $172.9K
NOI $10,373 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$128.2K
$112.2K – $149.6K
NOI $8,973 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$203.7K
$178.2K – $237.6K
NOI $14,256 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
414
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 - The property contains one residence available for lease and one tenant-occupied unit.
Where is this duplex located?
The property is located at 3201 Adelia Street Houston, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑residence duplex with one home available for lease and one tenant‑occupied unit; 2‑bedroom, 1‑bath single‑family residence; Studio‑style 1‑bedroom, 1‑bath tenant‑occupied unit
