Corner-Lot
For Sale
$570,000
Pending
5005 Delano Street # A, Houston, TX 77004
Three-unit residential property near downtown and the Medical Center.
Property Size4,620 SF
Days on Market89
Property Features for 5005 Delano Street # A
General Information
Standard status
Pending
Size
4,620 SF
Property subtype
Multi Family,Triplex
Taxes and HOA fees
Annual Taxes
$12,888
Building Details
Building Size
4,620 SF
Year Built
2017
Listing Agency:
Luxely Real Estate
Listed By:
Jonathan Layton · License #0537860
(281) 357-9887
Source:
Nancyalmodovar
Added: Jun 24
Changed: Sep 18
Last Checked: Sep 19 at 12:32PM
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 Luxely Real Estate
Investment Insights
Based on property information with market context.
This triplex was built in 2017 and sits on a corner lot at 5005 Delano Street # A in Houston. The property offers three residential units within a multifamily configuration.
Its location is near downtown and the Medical Center, providing proximity to two established Houston destinations. Virtual furnishings may appear in listing photography to illustrate the floor plan and interior presentation.
Its location is near downtown and the Medical Center, providing proximity to two established Houston destinations. Virtual furnishings may appear in listing photography to illustrate the floor plan and interior presentation.
Key Highlights
- Three‑unit triplex built in 2017
- Corner‑lot location
- Near downtown and the Medical Center
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
$52,341
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
9.18%
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%
$1,046,820
$1.0M
Cap Rate 7%
$747,729
$747.7K
Cap Rate 9%
$581,567
$581.6K
Market Conditions
NOI Build-Up for 4,620 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
$101.5K $21.96/SF
− Vacancy
−$6.3K −$1.36/SF
EGI
$95.2K $20.60/SF
− OpEx
−$42.8K −$9.27/SF
NOI
$52.3K $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%
$1,046,820
Cap Rate 7%
$747,729
Cap Rate 9%
$581,567
Alternative Uses
Best Use
Multifamily LT 5
$864.4K
$756.4K – $1.01M
NOI $60,511 @ 7.0% cap · market cap 10.62%
Second Best
Apartment 5plus
$747.7K
$654.3K – $872.4K
NOI $52,341 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,160 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,584
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property near downtown and the Medical Center.
Where is this triplex located?
The property is located at 5005 Delano Street # A Houston, TX.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Three‑unit triplex built in 2017; Corner‑lot location; Near downtown and the Medical Center
