Two-Unit Duplex with
For Sale
$682,500
15642 Cruiser Street, Corpus Christi, TX 78418
Residential, Corpus Christi, TX
Property Size3,418 SF
Lot Size0.31 Acres
Price / SF$199.68
Days on Market31
Property Features for 15642 Cruiser Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
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
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
Changed: Sep 13
Last Checked: Sep 16 at 12:06PM
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 two-unit duplex contains 3,418 square feet on a 0.31-acre parcel. Each residence has a separate entrance, a two-car garage, three bedrooms, two full bathrooms, and a study. The interiors include open living areas, custom kitchens with white cabinetry, granite countertops, stainless steel appliances, and separate laundry rooms.
Tile flooring extends throughout both units. Property systems include central air conditioning, natural gas heating, public water, and public sewer. Additional features include breakfast bars, window treatments, dishwashers, gas ovens, gas ranges, microwaves, and range hoods. Rock and stucco exterior materials, along with shingle roofing, complete the improvements.
Tile flooring extends throughout both units. Property systems include central air conditioning, natural gas heating, public water, and public sewer. Additional features include breakfast bars, window treatments, dishwashers, gas ovens, gas ranges, microwaves, and range hoods. Rock and stucco exterior materials, along with shingle roofing, complete the improvements.
Key Highlights
- Two‑unit duplex with 3,418 square feet of total property size
- Situated on 0.31 acres in Corpus Christi
- Each unit includes 3 bedrooms and 2 full bathrooms
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
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Open Analytics
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
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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?
Duplex - Each residence offers private access, three bedrooms, two full baths, and a study with an open living area.
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 with 3,418 square feet of total property size; Situated on 0.31 acres in Corpus Christi; Each unit includes 3 bedrooms and 2 full bathrooms
