Two-Unit Duplex with Detached
For Sale
$340,000
1008 Egyptian Dr, Corpus Christi, TX 78412
Two distinct floor plans include a two-story residence and a single-level residence.
Property Size2,699 SF
Price / SF$125.97
Days on Market12
Property Features for 1008 Egyptian Dr
General Information
Standard status
Active
Size
2,699 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$18,000
Amenities
fireplace
backyard
storage closets
fence
Building Details
Year Built
1970
Buildings
1
Listing Agency:
RE/MAX Professionals
(361) 444-4020
Listed By:
Erkan Ozbent · License #0670701
Source:
Thebranchinc
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 12:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Professionals
Investment Insights
Based on property information with market context.
This duplex contains 2,699 square feet across two residences built in 1970. Unit A spans two levels with 3 bedrooms and 2 baths, featuring crown molding, hardwood flooring in the living area, and carpet upstairs. Unit B is a single-story layout with 2 bedrooms, 2 baths, and a fireplace. One residence is leased through September 30, 2026, while the other is owner-occupied.
Outdoor improvements include two separate backyard areas and a rebuilt 4-car detached carport positioned at the rear. The carport includes secure storage closets, and a wooden fence runs along the left side of the property. The roof dates to 2018.
The property is located at 1008 Egyptian Dr in Corpus Christi, 2 miles from Texas A&M, 2.1 miles from La Palmera mall, and 4.7 miles from N.A.S.
Outdoor improvements include two separate backyard areas and a rebuilt 4-car detached carport positioned at the rear. The carport includes secure storage closets, and a wooden fence runs along the left side of the property. The roof dates to 2018.
The property is located at 1008 Egyptian Dr in Corpus Christi, 2 miles from Texas A&M, 2.1 miles from La Palmera mall, and 4.7 miles from N.A.S.
Key Highlights
- 2,699‑square‑foot duplex built in 1970
- Unit A offers 3 bedrooms, 2 baths, and two‑story living space
- Unit B provides 2 bedrooms, 2 baths, one‑story living, and a fireplace
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 distinct floor plans include a two-story residence and a single-level residence.
Where is this duplex located?
The property is located at 1008 Egyptian Dr 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: 2,699‑square‑foot duplex built in 1970; Unit A offers 3 bedrooms, 2 baths, and two‑story living space; Unit B provides 2 bedrooms, 2 baths, one‑story living, and a fireplace
