Stacked
New
For Sale
$385,000
409 Calloway Street A-B, Houston, TX 77029
Two residences feature open layouts, contemporary finishes, and separate primary suites.
Property Size2,000 SF
Price / SF$192.50
Days on Market4
Property Features for 409 Calloway Street A-B
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,919
Amenities
Laminate
Family Room,Living Room,Utility Room
Yes
4
No
6
Low-Emissivity Windows
Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Appraiser
Pantry,Quartz Counters,Self-closing Cabinet Doors,Self-closing Drawers,Tub Shower,Living/Dining Room,Programmable Thermostat
Back Yard
Cleared
Public
2500
0.0574
Asphalt
Fully Fenced,Fence
Slab
2000
Building Details
Building Size
2,000 SF
Year Built
2025
Stories
2
Listing Agency:
Keller Williams Realty Brazos Valley office
(281) 444-5140
Listed By:
Pam Hughes
(713) 725-1213
Source:
Garygreene
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 4:54AM
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 Realty Brazos Valley office
Investment Insights
Based on property information with market context.
Completed in 2025, this stacked duplex contains two residences totaling 2,000 square feet. Each unit is approximately 1,000 square feet, with three bedrooms and two bathrooms. Open-plan living areas include wood-look flooring, quartz counters, stainless steel appliances, and shaker-style cabinets. Both homes also have a primary bedroom with an en-suite bath and walk-in closet.
A manual driveway gate provides access to off-street surface parking. The property is in Houston, with access to major thoroughfares, Downtown Houston, and the East End.
A manual driveway gate provides access to off-street surface parking. The property is in Houston, with access to major thoroughfares, Downtown Houston, and the East End.
Key Highlights
- Two‑unit stacked duplex built in 2025
- 2,000 square feet total; each residence is approximately 1,000 square feet
- Each unit has 3 bedrooms and 2 bathrooms
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
$26,195
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
6.80%
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%
$523,900
$523.9K
Cap Rate 7%
$374,214
$374.2K
Cap Rate 9%
$291,056
$291.1K
Market Conditions
NOI Build-Up for 2,000 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
$39.6K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.4K $18.71/SF
− OpEx
−$11.2K −$5.61/SF
NOI
$26.2K $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 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%
$523,900
Cap Rate 7%
$374,214
Cap Rate 9%
$291,056
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.6K
NOI $26,195 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$323.7K
$283.2K – $377.6K
NOI $22,658 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$514.3K
$450.0K – $600.0K
NOI $36,000 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 77029, TX
17,044
Population
6,386
Households
2.7
Avg Household Size
36
Median Age
9%
College-Educated
62%
High-School Grad
10.6 sq mi
ZIP Area
1,608
Density / Sq Mi
$49,601
Median Household Income
$32,614
Median Earnings
$1,129
Median Rent
$115,400
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 residences feature open layouts, contemporary finishes, and separate primary suites.
Where is this duplex located?
The property is located at 409 Calloway Street A-B Houston, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑unit stacked duplex built in 2025; 2,000 square feet total; each residence is approximately 1,000 square feet; Each unit has 3 bedrooms and 2 bathrooms
