Updated Duplex Near
New
For Sale
$238,500
3204 Napoleon St, Houston, TX 77004
One unit is occupied, with bike, walk, and transit scores of 86, 66, and 57.
Property Size1,040 SF
Days on Market1
Property Features for 3204 Napoleon St
General Information
Standard status
Active
Size
1,040 SF
Property subtype
Investment
Lease Term
Month-to-month
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,547
Building Details
Building Size
1,040 SF
Year Built
1936
Stories
1
Units
1
Listing Agency:
GREEN & ASSOCIATES REAL ESTATE
Listed By:
Hal Bazar · License #0568921
(936) 827-8151
Source:
Elliman
Added: Sep 4
Last Checked: Sep 4 at 2:45PM
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 GREEN & ASSOCIATES REAL ESTATE
Investment Insights
Based on property information with market context.
This Houston duplex was built in 1936 and has undergone multiple recent updates. One unit is currently occupied, providing an existing occupancy position within the two-unit property.
The property is located at 3204 Napoleon St in Houston, TX 77004, just blocks from I-45 and the University of Houston. Neighborhood mobility is reflected in a bikeScore of 86, a walkScore of 66, and a transitScore of 57.
The property is located at 3204 Napoleon St in Houston, TX 77004, just blocks from I-45 and the University of Houston. Neighborhood mobility is reflected in a bikeScore of 86, a walkScore of 66, and a transitScore of 57.
Key Highlights
- Duplex constructed in 1936
- Multiple recent updates completed
- One unit currently occupied
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
$13,622
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
5.71%
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%
$272,440
$272.4K
Cap Rate 7%
$194,600
$194.6K
Cap Rate 9%
$151,356
$151.4K
Market Conditions
NOI Build-Up for 1,040 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
$20.6K $19.80/SF
− Vacancy
−$1.1K −$1.09/SF
EGI
$19.5K $18.71/SF
− OpEx
−$5.8K −$5.61/SF
NOI
$13.6K $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%
$272,440
Cap Rate 7%
$194,600
Cap Rate 9%
$151,356
Alternative Uses
Best Use
Multifamily LT 5
$194.6K
$170.3K – $227.0K
NOI $13,622 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$168.3K
$147.3K – $196.4K
NOI $11,782 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$267.4K
$234.0K – $312.0K
NOI $18,720 @ 7.0% cap · market cap 7.85%
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
873
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
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 - One unit is occupied, with bike, walk, and transit scores of 86, 66, and 57.
Where is this duplex located?
The property is located at 3204 Napoleon St Houston, TX.
What is the asking price?
The asking price for this property is $238,500.
What are key features of this property?
This property features: Duplex constructed in 1936; Multiple recent updates completed; One unit currently occupied
