4-Unit Quadplex with
For Sale
$349,900
826 Hancock Avenue, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size3,106 SF
Lot Size0.27 Acres
Price / SF$112.65
Days on Market86
Property Features for 826 Hancock Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 5
Parking features
Carport
Appliances
ElectricOven, ElectricRange
Subdivision
Hampton
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
317100060060
Size
3,106 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
HAMPTON LT 7 & W20.01' LT 8 & AN 8.86' STRIP ADJ TO LT 7 BLK 6
Tax Annual Amount
2306
Legal Description
HAMPTON LT 7 & W20.01' LT 8 & AN 8.86' STRIP ADJ TO LT 7 BLK 6
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
carport
wash room
Building Details
Year built
1955
Floors in Building
2
Flooring type
Hardwood
Roof type
Shingle
Listing Agency:
Coldwell Banker Pacesetter Ste · Coldwell Banker Real Estate
(361) 777-2896
Listed By:
Janice Cruz · License #0574328
(361) 229-0535
Added: Jun 9
Changed: Aug 26
Last Checked: Sep 2 at 8:06AM
MLS# 477776
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 3,106-square-foot quadplex contains four residential units with a mixed layout: two units offer two bedrooms and one bathroom each, while the other two include one bedroom and one bathroom each. The property includes a carport and a wash room at the rear. Hardwood flooring, central air, central electric heating, electric ovens and ranges, and a shingle roof are among the existing features. Public water and public sewer serve the property, which was built in 1955. Updates have been completed to the home.
The property is located on Hancock Avenue in Corpus Christi, near Ocean Drive and hospitals. The 0.27-acre parcel provides the setting for the four-unit residential configuration and its rear parking and utility features.
The property is located on Hancock Avenue in Corpus Christi, near Ocean Drive and hospitals. The 0.27-acre parcel provides the setting for the four-unit residential configuration and its rear parking and utility features.
Key Highlights
- Four residential units with two one‑bedroom and two two‑bedroom layouts
- 3,106 square feet on a 0.27‑acre parcel
- Carport and rear wash room
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
$31,695
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
9.06%
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%
$633,900
$633.9K
Cap Rate 7%
$452,786
$452.8K
Cap Rate 9%
$352,167
$352.2K
Market Conditions
NOI Build-Up for 3,106 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
$51.4K $16.56/SF
− Vacancy
−$6.2K −$1.98/SF
EGI
$45.3K $14.58/SF
− OpEx
−$13.6K −$4.37/SF
NOI
$31.7K $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%
$633,900
Cap Rate 7%
$452,786
Cap Rate 9%
$352,167
Alternative Uses
Best Use
Multifamily LT 5
$452.8K
$396.2K – $528.3K
NOI $31,695 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$414.6K
$362.8K – $483.8K
NOI $29,025 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$739.1K
$646.7K – $862.2K
NOI $51,734 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,427
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?
Quadplex - Multifamily property with two one-bedroom units and two two-bedroom units, plus a rear wash room.
Where is this quadplex located?
The property is located at 826 Hancock Avenue Corpus Christi, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Four residential units with two one‑bedroom and two two‑bedroom layouts; 3,106 square feet on a 0.27‑acre parcel; Carport and rear wash room
