Income-Producing Duplex in Corpus
1516 Lazy, Corpus Christi, TX 78415
MULTI_FAMILY - Corpus Christi, TX
Property size:
1,419 SFLot size:
0.15 AcresPrice / SF:
$154/SF- Added:
- May 1, 2025
- Days on Market:
- 394
- Last Refresh:
- May 29 at 11:06 pm
Property Features for 1516 Lazy
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4
- Interior features
- AirFiltration, CableTv, CeilingFans
- Appliances
- ElectricOven, ElectricRange, Refrigerator
- Standard status
- Active
- APN
- 992100060020
- Size
- 1,419 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- WYNWOOD #2 BLK 6 LOT 2
- Tax Annual Amount
- 3491
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1952
- Floors in Building
- 1
- Flooring type
- Vinyl, Hardwood
- Building materials
- WoodSiding
- Roof type
- Shingle
Listing agent Justin Colmenero License #0581190 (361) 728-3313
Listing office Prime Real Estate 4926 Everhart, Portland, TX (361) 334-7653
Listing date May 1, 2025
MLS# 458483
Listing URL
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.
HighLights
- Turn‑key duplex offering an exceptional income‑producing opportunity.
- Two units, each with 2 bedrooms and 1 bathroom.
- Each unit has central air and heat.
- Each unit includes a 10' x 10' laundry room and a 10' x 10' covered patio.
- Driveway accommodates two or more vehicles for each unit.
- Fenced yard shared by both units.
Overview
This turn-key duplex, located at 1516-1518 Lazy Lane, presents an income-producing opportunity. Unit 1516 offers 710 square feet of air-conditioned space, featuring 2 bedrooms, 1 bathroom, a kitchen, and a living area with hardwood flooring. Additional amenities include a 10' x 10' laundry room, a 10' x 10' covered patio, central air and heat, and a driveway accommodating two or more vehicles. Unit 1518 also provides 710 square feet of air-conditioned space with 2 bedrooms, 1 bathroom, a vinyl-floored kitchen, and a living area with hardwood flooring. Similar to the first unit, it includes a 10' x 10' laundry room, a 10' x 10' covered patio, central air and heat, and a wider driveway for two or more vehicles. Both units share a fenced yard and feature all-electric appliances, including a stove, oven, and water heater. The property is situated on a 0.15-acre lot in Corpus Christi, TX. The total property size is 1419 square feet. This duplex is an investment property and residential income home.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.3k | $15.00 |
| − Vacancy | −$2.5k | −$1.80 |
| EGI | $18.7k | $13.20 |
| − OpEx | −$5.6k | −$3.96 |
| NOI | $13.1k | $9.24 |
1,419 SF · lease $15.00/SF/yr · vacancy 11.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$187.4K
$164.0K – $218.6K
NOI $13,116 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$166.0K
$145.3K – $193.7K
NOI $11,623 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$337.6K
$295.4K – $393.9K
NOI $23,635 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Corpus Christi
- County
- Nueces
- State
- Texas
- Longitude
- -97.404573
- Latitude
- 27.748525
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Turn-key duplex with income potential in Corpus Christi, TX.
Where is this duplex located?
The property is located at 1516 Lazy Corpus Christi, TX.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Turn‑key duplex offering an exceptional income‑producing opportunity.; Two units, each with 2 bedrooms and 1 bathroom.; Each unit has central air and heat.
