Apartment Building with Water
For Sale
$750,000
4042 Loop 1781, Rockport, TX 78382
MULTI_FAMILY - Rockport, TX
Property Size5,228 SF
Lot Size0.67 Acres
Price / SF$143.46
Days on Market133
Property Features for 4042 Loop 1781
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 9, Bathroom 1, Bedroom 5, Bedroom 7, Bedroom 2, Bedroom 1, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 6, Bedroom 6, Bathroom 5, Bathroom 2, Bedroom 10, Bedroom 4
Patio and Porch features
Patio
Interior features
CathedralCeilings, SplitBedrooms, WindowTreatments, CeilingFans
Appliances
Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, FreeStandingRange, MultipleWaterHeaters
Subdivision
Copano Village Addition
View
Water
Elementary school
FultonLearningCenter
Middle school
RockportFulton
High school
RockportFulton
Elementary school district
RockportFultonISD
Middle school district
RockportFultonISD
High school district
RockportFultonISD
Directions
Corner of Live Oak street and Loop 1781 across from Copano Bay.
Standard status
Active
APN
1375-000-024-000
Size
5,228 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Description
S1375 Copano Village Addition Lot 24, 25, 26 and 27
Tax Annual Amount
5319
Legal Description
S1375 Copano Village Addition Lot 24, 25, 26 and 27
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
on-site laundry
Building Details
Year built
1973
Floors in Building
2
Number of units
4
Flooring type
Laminate, Tile
Building materials
HardiplankType, ShingleSiding, WoodSiding
Roof type
Shingle
Listing Agency:
Prime Real Estate
(361) 334-7653
Listed By:
Bridget Knower · License #0588097
(361) 633-9057
Added: Apr 22
Changed: Aug 18
Last Checked: Sep 1 at 6:06PM
MLS# 475301
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 apartment building includes five 2-bedroom, 1-bath units configured as two duplex homes and one single-story home. The property totals 5 units and offers interior features such as cathedral ceilings, split bedrooms, window treatments, and ceiling fans. Appliances include dishwashers, electric cooktops, electric ovens/ranges, free-standing ranges, and multiple water heaters. Heating is electric and central, and cooling is central air. Flooring includes tile and laminate, and the home has a patio.
Set on 0.67 acres and built in 1973, the property benefits from a waterfront setting with expansive water views. Public water is available, and the roof is shingle with Hardiplank-type construction materials plus shingle siding and wood siding.
Operationally, the property is not subject to HOA restrictions. Additional revenue is available through on-site laundry, supporting a consistent rental setup across the unit mix of five 2-bedroom, 1-bath units.
Set on 0.67 acres and built in 1973, the property benefits from a waterfront setting with expansive water views. Public water is available, and the roof is shingle with Hardiplank-type construction materials plus shingle siding and wood siding.
Operationally, the property is not subject to HOA restrictions. Additional revenue is available through on-site laundry, supporting a consistent rental setup across the unit mix of five 2-bedroom, 1-bath units.
Key Highlights
- 0.67‑acre apartment property built in 1973 with 5 units totaling 5,228 SF
- Two duplex homes plus one single‑story home layout
- Five 2‑bedroom, 1‑bath units with consistent rental history
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
$42,823
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
5.71%
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%
$856,460
$856.5K
Cap Rate 7%
$611,757
$611.8K
Cap Rate 9%
$475,811
$475.8K
Market Conditions
NOI Build-Up for 5,228 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
$89.1K $17.04/SF
− Vacancy
−$11.2K −$2.15/SF
EGI
$77.9K $14.89/SF
− OpEx
−$35.0K −$6.70/SF
NOI
$42.8K $8.19/SF
Area
Aransas County, TX
Vacancy
12.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$856,460
Cap Rate 7%
$611,757
Cap Rate 9%
$475,811
Alternative Uses
Best Use
Apartment 5plus
$611.8K
$535.3K – $713.7K
NOI $42,823 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,897 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
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?
Apartment building - Five 2-bedroom, 1-bath units in a duplex-and-single-home layout with water views and on-site laundry.
Where is this apartment building located?
The property is located at 4042 Loop 1781 Rockport, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 0.67‑acre apartment property built in 1973 with 5 units totaling 5,228 SF; Two duplex homes plus one single‑story home layout; Five 2‑bedroom, 1‑bath units with consistent rental history
