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    2319 Mckee St Houston, TX 77009

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    2319 Mckee St Houston, TX 77009

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    • Residential income homes
    Off-Market
    Property ID
    US82-2329411
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • American Services / Construction Company

    Property Details for 2319 Mckee St

    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of three properties totaling 15,000 square feet in Houston's sought-after 77009 Northside area. The portfolio comprises a duplex with a commercial space at 2319 McKee Street, a single-family home with two studio apartments at 2315 McKee Street, and a vacant lot at 2311 McKee Street. Four of the six rental units are currently occupied, generating immediate cash flow. The strategic location benefits from nearby new developments and townhomes, reflecting the area's growth and desirability. The presence of an empty lot offers potential for future development, maximizing the investment's long-term value. This portfolio presents a rare chance to acquire a cash-flowing multifamily investment with significant upside potential in a rapidly appreciating Houston neighborhood. The proximity to Downtown Houston further enhances its appeal. This is a turnkey investment ready for immediate income generation and future expansion. Act quickly to secure this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.352260549467
    Latitude
    29.783234910678

    Comparable in this City

    • $649,000

      Income-Producing Multifamily Property

      Five-unit multifamily property on a corner lot in Houston.
      1501 Noble St, Houston, TX 77009
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    • $285,000
      Pending

      Houston Duplex Near Houston Heights

      Well-maintained duplex near Houston Heights with tenant-occupied units.
      3810 Cochran St, Houston, TX 77009
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    Similar Nearby for Sale

    • $649,000

      Income-Producing Multifamily Property

      Five-unit multifamily property on a corner lot in Houston.
      1501 Noble St, Houston, TX 77009
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    • $285,000
      Pending

      Houston Duplex Near Houston Heights

      Well-maintained duplex near Houston Heights with tenant-occupied units.
      3810 Cochran St, Houston, TX 77009
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      3.06 Acres Stabilized Land

      3.06 acres of fenced land near major highways.
      414 Pinckney St, Houston, TX 77009
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      Houston Warehouse Space For Lease

      67,740 square feet of warehouse space available for lease.
      7100-7112 Cavalcade St, Houston, TX 77009
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    • $6 SF/Yr
      25,862 SF

      Gated Parking and Showroom Space

      31,000 SF gated parking with showroom and office space.
      2500 North Fwy, Houston, TX 77009
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      501 SF

      Modern Office Space For Rent

      Modern two-story office building with flexible leasing options and high visibility.
      6300 N Main St, Houston, TX 77009
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    • Contact for pricing

      Retail Space Near METRORail

      Retail space in Near Northside, adjacent to METRORail red line.
      2435 Fulton St, Houston, TX 77009
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    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Houston, TX.
      6300 N Main St, Houston, TX 77009
      View Details
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    2319 Mckee St
    Houston, TX 77009
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2319 Mckee St, Houston, TX, 77009

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