Two-Unit Duplex with Private
For Sale
$682,500
15642 Cruiser Street, Corpus Christi, TX 78418
MULTI_FAMILY - Corpus Christi, TX
Property Size3,418 SF
Lot Size0.31 Acres
Price / SF$199.68
Days on Market13
Property Features for 15642 Cruiser Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
Garage
Interior features
SplitBedrooms, WindowTreatments, BreakfastBar
Appliances
Dishwasher, GasOven, GasRange, Microwave, RangeHood
Subdivision
Padre Island # 4
Lot features
Interior Lot
Elementary school
Flour Bluff
Middle school
Flour Bluff
High school
Flour Bluff
Elementary school district
Flour Bluff ISD
Middle school district
Flour Bluff ISD
High school district
Flour Bluff ISD
Standard status
Active
APN
612902200190
Size
3,418 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
SUBD. REF NO# 6129 SUBDIVISION NAME: PADRE ISLAND #4
Legal Description
SUBD. REF NO# 6129 SUBDIVISION NAME: PADRE ISLAND #4
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
separate laundry room
Building Details
Year built
2018
Floors in Building
1
Flooring type
Tile
Building materials
Rock, Stucco
Roof type
Shingle
Listing Agency:
Coldwell Banker Island Escapes
(361) 949-7077
Listed By:
Cindy Molnar · License #0399696
(361) 549-5557
Added: Aug 17
Last Checked: Aug 29 at 6:06PM
MLS# 481057
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.
Built in 2018, this duplex contains 3,418 square feet on a 0.31-acre lot. Each of the two residences offers three bedrooms, two full bathrooms, a study, an open living area, and a private entry. The kitchens include white cabinetry, granite countertops, a breakfast bar, and stainless steel appliances, with dishwashers, gas ovens, gas ranges, microwaves, and range hoods provided. Separate laundry rooms and tile flooring serve each unit.
The property includes two-car garage parking for each residence. Construction features rock and stucco materials beneath a shingle roof, with central air conditioning and natural gas heating. Public water and public sewer are in place.
The property includes two-car garage parking for each residence. Construction features rock and stucco materials beneath a shingle roof, with central air conditioning and natural gas heating. Public water and public sewer are in place.
Key Highlights
- Two‑unit duplex built in 2018
- 3,418 square feet on a 0.31‑acre lot
- Each unit has 3 bedrooms, 2 full bathrooms, and a study
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
$30,329
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
4.44%
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%
$606,580
$606.6K
Cap Rate 7%
$433,271
$433.3K
Cap Rate 9%
$336,989
$337.0K
Market Conditions
NOI Build-Up for 3,418 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
$49.2K $14.40/SF
− Vacancy
−$5.9K −$1.72/SF
EGI
$43.3K $12.68/SF
− OpEx
−$13.0K −$3.80/SF
NOI
$30.3K $8.87/SF
Area
ZIP 78418
Vacancy
11.97%
Lease Rate
$14.40 /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%
$606,580
Cap Rate 7%
$433,271
Cap Rate 9%
$336,989
Alternative Uses
Best Use
Multifamily LT 5
$433.3K
$379.1K – $505.5K
NOI $30,329 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$383.1K
$335.2K – $446.9K
NOI $26,814 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,463 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
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 - Each residence includes a private entry, two-car garage, separate laundry room, and open living space.
Where is this duplex located?
The property is located at 15642 Cruiser Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $682,500.
What are key features of this property?
This property features: Two‑unit duplex built in 2018; 3,418 square feet on a 0.31‑acre lot; Each unit has 3 bedrooms, 2 full bathrooms, and a study
