Duplex with Fenced
New
For Sale
$195,000
1802 16th Street, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size1,575 SF
Lot Size0.14 Acres
Price / SF$123.81
Days on Market6
Property Features for 1802 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Appliances
ElectricOven, ElectricRange
Subdivision
Merchants #6
Lot features
Corner Lot
Elementary school
Menger
Middle school
Hamlin
High school
Ray
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
509613050330
Size
1,575 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
MERCHANTS #6 LTS 33 & 34 BK 1305
Tax Annual Amount
4607
Legal Description
MERCHANTS #6 LTS 33 & 34 BK 1305
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
fenced back yards
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
ValTex Realty
(361) 765-9711
Listed By:
Joe Monceballez · License #0586828
(361) 960-1779
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 22 at 6:06PM
MLS# 481184
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 duplex contains 1,575 square feet across two residences, with each unit offering three bedrooms, one bathroom, and a spacious living area. Separate fenced backyards provide private outdoor space, while dedicated off-street parking serves each residence. The property was built in 1980 and features vinyl flooring, central air conditioning, central electric heat, electric cooking appliances, a shingle roof, public water, and public sewer.
Set on a 0.14-acre parcel at 1802 16th Street in Corpus Christi, the property is located in the 6 Points area with proximity to downtown. Its two-unit configuration, individual yards, and separate parking create a practical layout for residential occupancy.
Set on a 0.14-acre parcel at 1802 16th Street in Corpus Christi, the property is located in the 6 Points area with proximity to downtown. Its two-unit configuration, individual yards, and separate parking create a practical layout for residential occupancy.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bath units
- 1,575 square feet on a 0.14‑acre parcel
- Separate fenced backyards for each unit
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
$16,072
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
8.24%
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%
$321,440
$321.4K
Cap Rate 7%
$229,600
$229.6K
Cap Rate 9%
$178,578
$178.6K
Market Conditions
NOI Build-Up for 1,575 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
$26.1K $16.56/SF
− Vacancy
−$3.1K −$1.98/SF
EGI
$23.0K $14.58/SF
− OpEx
−$6.9K −$4.37/SF
NOI
$16.1K $10.20/SF
Area
Corpus Christi, TX
Vacancy
11.97%
Lease Rate
$16.56 /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%
$321,440
Cap Rate 7%
$229,600
Cap Rate 9%
$178,578
Alternative Uses
Best Use
Multifamily LT 5
$229.6K
$200.9K – $267.9K
NOI $16,072 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$210.3K
$184.0K – $245.3K
NOI $14,718 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$374.8K
$327.9K – $437.2K
NOI $26,233 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 78404, TX
15,339
Population
6,884
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
4,793
Density / Sq Mi
$60,264
Median Household Income
$45,864
Median Earnings
$1,172
Median Rent
$180,500
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 three-bedroom residences with private outdoor areas and dedicated off-street parking for each unit.
Where is this duplex located?
The property is located at 1802 16th Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bath units; 1,575 square feet on a 0.14‑acre parcel; Separate fenced backyards for each unit
