Income Duplex with Two
For Sale
$340,000
1008 Egyptian Drive, Corpus Christi, TX 78412
MULTI_FAMILY - Corpus Christi, TX
Property Size2,699 SF
Lot Size0.30 Acres
Price / SF$125.97
Days on Market229
Property Features for 1008 Egyptian Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Carport
Fireplace
1
Subdivision
Meadowlark Park
Elementary school
CullenPlace
Middle school
Haas
High school
King
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
503500090080
Size
2,699 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
EGYPTIAN PLACE BLK 9 LOT 8
Tax Annual Amount
6473
Legal Description
EGYPTIAN PLACE BLK 9 LOT 8
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Flooring type
Tile, Carpet
Roof type
Shingle
Listing Agency:
RE/MAX Professionals
(361) 985-9393
Listed By:
Erkan Ozbent · License #0670701
(361) 444-4020
Added: Jan 7
Changed: Aug 6
Last Checked: Aug 24 at 9:06PM
MLS# 469571
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This income duplex offers two separate units on a 0.3-acre lot, with central air and central electric heat. Unit A is a two-story layout with 3 bedrooms and 2 baths, featuring crown molding, hardwood flooring in the living area, and carpet upstairs. Unit B is a one-story unit with 2 bedrooms and 2 baths and includes a fireplace; it is owner-occupied.
The property includes two separate backyard areas and a rebuilt 4-car detached carport in the rear with secure storage closets, plus a wooden fence along the left side of the property. The roof is shingle and dates to 2018. Public water and public sewer services are in place.
Additional highlights include tile and carpet flooring, with parking provided via the detached carport. The property was built in 1970. Unit A is leased through September 30, 2026.
The property includes two separate backyard areas and a rebuilt 4-car detached carport in the rear with secure storage closets, plus a wooden fence along the left side of the property. The roof is shingle and dates to 2018. Public water and public sewer services are in place.
Additional highlights include tile and carpet flooring, with parking provided via the detached carport. The property was built in 1970. Unit A is leased through September 30, 2026.
Key Highlights
- 0.3‑acre duplex with two separate backyard areas
- Unit A: two stories, 3 bedrooms and 2 baths; leased through September 30, 2026
- Unit B: one story, 2 bedrooms and 2 baths; includes a fireplace; owner‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,947
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$498,940
$498.9K
Cap Rate 7%
$356,386
$356.4K
Cap Rate 9%
$277,189
$277.2K
Market Conditions
NOI Build-Up for 2,699 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.5K $15.00/SF
− Vacancy
−$4.8K −$1.80/SF
EGI
$35.6K $13.20/SF
− OpEx
−$10.7K −$3.96/SF
NOI
$24.9K $9.24/SF
Area
ZIP 78412
Vacancy
11.97%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$498,940
Cap Rate 7%
$356,386
Cap Rate 9%
$277,189
Alternative Uses
Best Use
Multifamily LT 5
$356.4K
$311.8K – $415.8K
NOI $24,947 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$315.8K
$276.4K – $368.5K
NOI $22,108 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$660.7K
$578.1K – $770.8K
NOI $46,250 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 78412, TX
38,783
Population
16,874
Households
2.3
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
8.6 sq mi
ZIP Area
4,510
Density / Sq Mi
$60,509
Median Household Income
$32,154
Median Earnings
$1,242
Median Rent
$188,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with public utilities, central HVAC, and separate backyard areas.
Where is this duplex located?
The property is located at 1008 Egyptian Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 0.3‑acre duplex with two separate backyard areas; Unit A: two stories, 3 bedrooms and 2 baths; leased through September 30, 2026; Unit B: one story, 2 bedrooms and 2 baths; includes a fireplace; owner‑occupied
