Occupied Duplex with Private
For Sale
$245,000
6624 Hardwick Drive, Corpus Christi, TX 78412
Residential, Corpus Christi, TX
Property Size2,000 SF
Lot Size0.15 Acres
Price / SF$122.50
Days on Market220
Property Features for 6624 Hardwick Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Parking
2
Parking features
Garage, On Street
Patio and Porch features
Patio
Interior features
CathedralCeilings, PrimaryDownstairs, WindowTreatments, CeilingFans
Fireplace
1
Appliances
Dishwasher, ElectricOven, ElectricRange, FreeStandingRange, Disposal, RangeHood, MultipleWaterHeaters
Subdivision
Briarwood #4
Lot features
Interior Lot, Landscaped
Elementary school
Smith
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
098300040050
Size
2,000 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
BRIARWOOD #4 BLK 4 LOT 5
Legal Description
BRIARWOOD #4 BLK 4 LOT 5
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
enclosed front patios
fully fenced separate backyards
Building Details
Year built
1983
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick, Frame, Veneer
Roof type
Shingle
Listing Agency:
Keller Williams Coastal Bend · Keller Williams Realty
(361) 225-7900
Listed By:
Clarissa Mendoza · License #0641200
(361) 738-9608
Added: Jan 22
Changed: Aug 26
Last Checked: Aug 30 at 6:06AM
MLS# 470394
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 2,000 square feet on a 0.15-acre parcel, with each unit offering a private garage, an enclosed front patio, and a separately fenced backyard. The property was built in 1983 and features brick, frame, and veneer construction, tile flooring, central electric heating and cooling, ceiling fans, window treatments, and a fireplace. Kitchens include dishwashers, electric ovens and ranges, disposals, range hoods, and multiple water heaters. Public water and sewer serve the property, with a shingle roof and additional on-street parking.
Both units are occupied under active leases, providing an established rental configuration. The property is approximately 3 minutes from a hospital and 10 minutes from Texas A&M University, with shopping, dining, and major local transit routes also identified in the surrounding area.
Both units are occupied under active leases, providing an established rental configuration. The property is approximately 3 minutes from a hospital and 10 minutes from Texas A&M University, with shopping, dining, and major local transit routes also identified in the surrounding area.
Key Highlights
- 2,000‑square‑foot duplex on a 0.15‑acre parcel
- Both units occupied with active leases and paying tenants
- Private garage included with 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
$18,486
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
7.55%
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%
$369,720
$369.7K
Cap Rate 7%
$264,086
$264.1K
Cap Rate 9%
$205,400
$205.4K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$3.6K −$1.80/SF
EGI
$26.4K $13.20/SF
− OpEx
−$7.9K −$3.96/SF
NOI
$18.5K $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%
$369,720
Cap Rate 7%
$264,086
Cap Rate 9%
$205,400
Alternative Uses
Best Use
Multifamily LT 5
$264.1K
$231.1K – $308.1K
NOI $18,486 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$234.0K
$204.8K – $273.0K
NOI $16,382 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$489.6K
$428.4K – $571.2K
NOI $34,272 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
882
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 private garages, enclosed patios, and separately fenced outdoor areas support distinct unit layouts.
Where is this duplex located?
The property is located at 6624 Hardwick Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 2,000‑square‑foot duplex on a 0.15‑acre parcel; Both units occupied with active leases and paying tenants; Private garage included with each unit
