Two-Story
For Sale
$400,000
1507 10th St, Corpus Christi, TX 78404
Four individually metered apartments feature private laundry hookups and a mix of mini-split and window air-conditioning units.
Property Size2,740 SF
Days on Market11
Property Features for 1507 10th St
General Information
Standard status
Active
Size
2,740 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,644
Amenities
washer/dryer connections
separately metered electricity
mini splits
window units
granite countertops
black appliances
Building Details
Building Size
2,740 SF
Year Built
1960
Stories
2
Listing Agency:
Gulf Coast Realty Services
Listed By:
Veronica Villarreal · License #0623305
(361) 549-2190
Source:
National-onerealty
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 10 at 8:02AM
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 Gulf Coast Realty Services
Investment Insights
Based on property information with market context.
Built in 1960, this two-story quadplex contains four separate one-bedroom, one-bath apartments. Each unit includes connections for a stackable washer and dryer, while electrical service is separately metered by apartment. Heating and cooling are provided through a combination of mini-split systems and window units.
The apartments have galley-style kitchens equipped with granite countertops and black appliances. The property is located at 1507 10th Street in Corpus Christi, Texas.
The apartments have galley-style kitchens equipped with granite countertops and black appliances. The property is located at 1507 10th Street in Corpus Christi, Texas.
Key Highlights
- Four individual one‑bedroom, one‑bath apartments
- Separate electric meters for each apartment
- Washer and dryer connections in every 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
$27,960
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
6.99%
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%
$559,200
$559.2K
Cap Rate 7%
$399,429
$399.4K
Cap Rate 9%
$310,667
$310.7K
Market Conditions
NOI Build-Up for 2,740 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
$45.4K $16.56/SF
− Vacancy
−$5.4K −$1.98/SF
EGI
$39.9K $14.58/SF
− OpEx
−$12.0K −$4.37/SF
NOI
$28.0K $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%
$559,200
Cap Rate 7%
$399,429
Cap Rate 9%
$310,667
Alternative Uses
Best Use
Multifamily LT 5
$399.4K
$349.5K – $466.0K
NOI $27,960 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$365.8K
$320.1K – $426.8K
NOI $25,605 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$652.0K
$570.5K – $760.6K
NOI $45,637 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,504
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four individually metered apartments feature private laundry hookups and a mix of mini-split and window air-conditioning units.
Where is this quadplex located?
The property is located at 1507 10th St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four individual one‑bedroom, one‑bath apartments; Separate electric meters for each apartment; Washer and dryer connections in every unit
