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9302 Memorial Drive
About This Property
Rare opportunity in the heart of Houston's prestigious Close-In Memorial market area! Located in the established Oak Hill subdivision, 9302 Memorial Drive offers an exceptional 20,297 SF homesite surrounded by beautiful, upscale residences. The property features an existing 2,509 SF brick home built in 1953, offering vintage character and exciting possibilities for renovation and modernization. For those looking to create something entirely new, the expansive lot also presents an outstanding opportunity to raze the existing structure and build a custom luxury residence suited to this highly desirable neighborhood. Whether you choose to renovate, reimagine, or rebuild, this property offers tremendous potential in one of Houston's most sought-after areas. An increasingly rare combination of location, lot size, and opportunity in the heart of Memorial- a primely located corner lot with driveway access on Silber and Memorial Dr.
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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 |
|---|---|---|---|
| Sep 18, 2026 | In contract | - | |
| In contract | |||
| Aug 11, 2026 | Listed by J. Frank Monk Real Estate | $1,500,000 | |
| Listed by J. Frank Monk Real Estate | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017