Two-Unit Duplex with Covered
For Sale
$219,900
1516 Lazy, Corpus Christi, TX 78415
Residential, Corpus Christi, TX
Property Size1,419 SF
Lot Size0.15 Acres
Price / SF$154.97
Days on Market533
Property Features for 1516 Lazy
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Interior features
AirFiltration, CableTv, CeilingFans
Appliances
ElectricOven, ElectricRange, Refrigerator
Subdivision
Wynwood #2
Lot features
Interior Lot
Elementary school
Houston
Middle school
Baker
High school
Ray
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
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
Legal Description
WYNWOOD #2 BLK 6 LOT 2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
fenced yard
laundry room
covered patio
central air and heat
Building Details
Year built
1952
Floors in Building
1
Flooring type
Vinyl, Hardwood
Building materials
WoodSiding
Roof type
Shingle
Listing Agency:
Prime Real Estate
(361) 334-7653
Listed By:
Justin Colmenero · License #0581190
(361) 728-3313
Added: May 1, 2025
Changed: Sep 21
Last Checked: Oct 15 at 10:06PM
MLS# 458483
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.
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Investment Insights
Based on property information with market context.
This two-unit duplex in Corpus Christi includes two residences, each with 710 square feet of air-conditioned space. Both layouts provide two bedrooms, one bathroom, a kitchen, and a living area with hardwood flooring. Each unit also includes a 10' x 10' laundry room, a 10' x 10' covered patio, central air and heat, and a driveway accommodating two or more vehicles. The property has a fenced shared yard, all-electric appliances, public water, and public sewer. Appliances include electric ovens, electric ranges, and refrigerators. Built in 1952, the structure features wood siding, a shingle roof, vinyl and hardwood flooring, and ceiling fans. The property is located in Corpus Christi, Nueces County, within ZIP Code 78415.
Key Highlights
- Two‑unit duplex with 710 square feet of air‑conditioned space per unit
- Both units include 2 bedrooms and 1 bathroom
- Each residence has a 10' x 10' laundry room and 10' x 10' covered patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,116
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,320
$262.3K
Cap Rate 7%
$187,371
$187.4K
Cap Rate 9%
$145,733
$145.7K
Market Conditions
NOI Build-Up for 1,419 SF
Gross rent
$21.3K $15.00/SF
− Vacancy
−$2.5K −$1.80/SF
EGI
$18.7K $13.20/SF
− OpEx
−$5.6K −$3.96/SF
NOI
$13.1K $9.24/SF
Area
ZIP 78415
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 Rate 5%
$262,320
Cap Rate 7%
$187,371
Cap Rate 9%
$145,733
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 authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Explore this area
Business Placement
Demographics for 78415, TX
38,722
Population
15,465
Households
2.5
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
109.2 sq mi
ZIP Area
355
Density / Sq Mi
$53,803
Median Household Income
$31,748
Median Earnings
$1,166
Median Rent
$135,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one bathroom, central air and heat, and a private laundry room.
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: Two‑unit duplex with 710 square feet of air‑conditioned space per unit; Both units include 2 bedrooms and 1 bathroom; Each residence has a 10' x 10' laundry room and 10' x 10' covered patio
