Two-Story Four-Unit
New
For Sale
$400,000
1507 10th Street, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size2,740 SF
Lot Size0.20 Acres
Price / SF$145.99
Days on Market3
Property Features for 1507 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2
Parking features
On Street
Appliances
FreeStandingRange, Microwave, Refrigerator
Subdivision
Hughes
Lot features
Interior Lot
Elementary school
Menger
Middle school
Driscoll
High school
Miller
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
360300030400
Size
2,740 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
HUGHES BLK 3 LOT 40 & 41
Tax Annual Amount
7644
Legal Description
HUGHES BLK 3 LOT 40 & 41
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless, Window Unit(s)
Water source
Public
Amenities
washer/dryer connections
mini splits
window units
granite countertops
black appliances
Building Details
Year built
1960
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Laminate
Roof type
Shingle
Listing Agency:
Gulf Coast Realty Services
(361) 201-9060
Listed By:
Veronica Villarreal · License #0623305
(361) 549-2190
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 3 at 6:06AM
MLS# 481820
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 two-story quadplex contains four separate one-bedroom, one-bath apartments within 2,740 square feet. Each unit includes connections for a stackable washer and dryer, while electrical service is separately metered by apartment. Interior features include galley kitchens with granite countertops and black appliances, along with a mix of vinyl and laminate flooring.
Heating and cooling are provided by ductless mini-split systems and window units. The property was built in 1960 and occupies 0.2 acres, with public water and public sewer service. On-street parking is available, and the roof is shingle.
Heating and cooling are provided by ductless mini-split systems and window units. The property was built in 1960 and occupies 0.2 acres, with public water and public sewer service. On-street parking is available, and the roof is shingle.
Key Highlights
- Four individual one‑bedroom, one‑bath units
- 2,740 square feet across a two‑story quadplex
- Separately metered electricity for each apartment
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
Property Profile
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
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 - Income property with individually metered electricity, in-unit laundry connections, and updated kitchen finishes.
Where is this quadplex located?
The property is located at 1507 10th Street 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 units; 2,740 square feet across a two‑story quadplex; Separately metered electricity for each apartment
