21
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1265 Morris Street Street
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 31, 2026 | Listed by Keller Williams Realty Northeast | $215,000 | |
| Listed by Keller Williams Realty Northeast | |||
| Mar 26, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Mar 5, 2026 | Listed by Keller Williams Realty Northeast | $215,000 | |
| Listed by Keller Williams Realty Northeast | |||
| | |||
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Investor / Builder Opportunity – Redevelopment Potential
Prime inner-loop lot with strong depth, full frontage, and clear redevelopment precedent directly across the street. Surrounded by new construction townhomes and ongoing infill activity, this property presents a compelling opportunity for builders, rehabbers, or long-term land investors.
The existing structure allows for immediate hold-and-improve strategy, while the lot configuration supports the potential for two modern townhomes (buyer to verify zoning and feasibility). Extended driveway access, established utilities, and strong street presence enhance flexibility for repositioning or new construction.
Area demand, nearby institutional anchors, and visible redevelopment momentum make this a strategic play for those looking to capitalize on Houston’s continued urban growth.
Serious investors and builders—opportunities like this don’t sit long. Call to discuss lot dimensions, comps, and development strategy.
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| Dec 16, 2025 | No longer available | - | |
| No longer available | |||
| Mar 15, 2025 | Price Decreased |
$220,000
↓ $4K
(1.8%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017