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$587,000

1401 Calumet St Unit 501, Houston, TX, 77004

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,914 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$216.82 / sqft
Year BuiltBuilt in 1999

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Heating CentralHeating Central
CoolingCooling
AppliancesDisposal, Convection Oven, Electric Oven, Oven, Microwave, Electric Range, Dryer, Refrigerator, Washer/Dryer Stacked, Washer, Dishwasher, Washer/Dryer
FlooringTile, Wood

Exterior

Exterior FeaturesBalcony

Building Information

Year Built1999

Land Information

APN1205550050002
SubdivisionIl Palazzo Condo Amend
Land UseResidential
Legal DescriptionUNIT 501 FLR 5 .0153 INT COMMON LAND & ELE IL PALAZZO CONDO AMEND
Census Tract312602
Assessed Land Value$79,101
Assessed Improvement Value$337,222
Assessment Year2025

About this property

The ultimate loft living with a 5th floor extended terrace right here at IL Palazzo located in heart of the highly sought-after Museum District is sure to impress. Walkable to numerous museums, Hermann Park, Houston Zoo, MetroRail and restaurants. Home feature open and elaborate floorplan where you can get creative on how you want to use the space, hardwood floors through and through. Kitchen with ss apps, grand granite island, extended wine bar with wine fridge. From your stunning terrace enriched with plenty of seating area and breathtaking views into the city of museums, city lines, fireworks on the 4th of July. Two assigned side-by-side garage parking spaced included. In recent years, building completed $5M of renovations and updates including replacing roof, building surfaces, balcony drainage, gutters, fire alarm system and more. Reasonable HOA fees include 24/7 concierge, limited building access system, building and common area maintenance and insurance, water, sewer and trash!

Investor Tools

Property Icon
$587,000
Estimated Property Value
$0Estimated Mortgage Balance
$587,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,522 /month
Positive
Cash Flow Estimate:
$1,174 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$423/month
$829/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,142
$416,323
2025
$79,101
$337,222
$416,323
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,142
$416,323

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$469,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$829/mo
+$478/mo
2.7%

Learn About the Market: Opportunity in Houston

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Explore

Houston

Houston is one of the most economically diverse metros in the country — and one of its most globally connected. Known as the Energy Capital of the World, the city also anchors the Texas Medical Center, a massive port, and a thriving aerospace presence tied to NASA’s Johnson Space Center.

From refinery corridors to world-class hospitals, from international trade routes to master-planned suburbs like The Woodlands and Katy, Houston’s economy runs deep and wide. It’s a city built on industry, immigration, and resilience — with housing markets as varied as its population.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.2%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$261,700

Unemployment Rate

Unemployment Rate

4.10%

Price Trend

Price Trend

~2–4% YoY growth

New Permits

New Permits

~6,800 units

City: Houston

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1401 Calumet St Unit 501 | Property Details | No Agent List