246 Warrenton Drive
About This Property
An exceptional opportunity awaits to build your dream home on this expansive 13,000+ sq. ft. lot, complete with a large pool in the backyard, set in the highly sought-after Whispering Oaks neighborhood of Bunker Hill Village. The lot is ideally located within walking distance to the top-rated Frostwood Elementary, Memorial Middle School, and zoned to the prestigious Memorial High School. Surrounded by beautiful, mature trees, this oversized lot offers endless possibilities for custom development.
Perfectly situated near top-tier shopping, dining, City Center, and medical facilities, this location is truly second to none. Additionally, the property is outside the floodplain and experienced no flooding during Hurricane Harvey. Don't miss this rare opportunity to bring your vision to life in one of Houston's most desirable neighborhoods!
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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 |
|---|---|---|---|
| Apr 11, 2025 | Sold | ||
| Sold | |||
| Mar 2, 2025 | In contract | - | |
| In contract | |||
| Feb 25, 2025 | Listed by Walzel Properties - Corporate Office | $1,450,000 | |
| Listed by Walzel Properties - Corporate Office | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017