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    12-Unit Multifamily Property Title is generated by Realmo AI

    160 N 13th Street, Aransas Pass, TX 78336

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    For Sale
    $775,000

    Fully occupied 12-unit residential income property with 1- and 2-bedroom layouts and central electric heat and air.

    Type:Multi-Family
    Property size:
    7,124 SF
    Lot size:
    0.74 Acres
    Price / SF:
    $108/SF
    Added:
    May 20, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 5 at 1:56 am

    Property Features for 160 N 13th Street

    General Information

    Standard status
    Active
    Size
    7,124 SF
    Lot size
    0.74 Acres
    Property subtype
    Multi-Family

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Autumn MacLeod

    Listing agent Autumn MacLeod

    Listing office Vaden MacLeod Real Estate

    Listing date May 20, 2026

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Vaden MacLeod Real Estate

    HighLights

    • Fully occupied 12‑unit multi‑unit residential property with 1- and 2‑bedroom layouts
    • Single‑story construction with 7,124 building SF on a 32,340 SF interior lot
    • Central electric heat and central air, plus ceiling fans throughout
    • Shingle roof and storage area with extra storage
    • City utilities throughout and electrical appliances including refrigerator, electric oven, and electric range/cooktop
    • Front entrance plus street parking

    Overview

    This fully occupied 12-unit multifamily property offers a mix of 1- and 2-bedroom units. Each unit is served by central electric heat and air, with city utilities throughout. The building is single-story, with a total building size of 7,124 square feet on a 32,340-square-foot site.

    The property is located at 160 N 13th Street in Aransas Pass, Texas. Public remarks indicate it is minutes from Aransas Pass High School and close to downtown shopping and restaurants.

    For buyers seeking a turn-key residential income asset, the existing tenant occupancy provides an immediate operational starting point. Because appointments are required and the owner requests that prospective visitors not walk the property without scheduling, interested parties should coordinate a showing through the listing broker.

    Local Financial Insights For Apartment 5plus

    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 $121.4k $17.04
    − Vacancy −$15.3k −$2.15
    EGI $106.1k $14.89
    − OpEx −$47.7k −$6.70
    NOI $58.4k $8.19
    7,124 SF · lease $17.04/SF/yr · vacancy 12.60% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $833.6K
    $729.4K – $972.6K (±1% cap)
    NOI $58,354 @ 7.0% cap · market cap 7.53%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Hotel Hospitality
    $3.65M
    $3.20M – $4.26M (±1% cap)
    NOI $255,823 @ 7.0% cap · market cap 33.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    South Padre Island ... Medical Clinic South Padre Island ... Pediatrician NBH Physician Services Medical Clinic Dr. Jorge S. ... Pediatrician Dharmendra Verma Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aransas Pass
    County
    San Patricio
    State
    Texas
    Longitude
    -97.157284
    Latitude
    27.914607

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    FAQs

    What type of property is this?
    Apartment building - Fully occupied 12-unit residential income property with 1- and 2-bedroom layouts and central electric heat and air.
    Where is this apartment building located?
    The property is located at 160 N 13th Street Aransas Pass, TX.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Fully occupied 12‑unit multi‑unit residential property with 1- and 2‑bedroom layouts; Single‑story construction with 7,124 building SF on a 32,340 SF interior lot; Central electric heat and central air, plus ceiling fans throughout
    (361) 523-1494
    We can help!
    Listing Contact
    Autumn MacLeod
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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