12-Unit Single-Story Apartment
For Sale
$775,000
160 N 13th St, Aransas Pass, TX 78336
Fully occupied property with one- and two-bedroom floor plans, central electric HVAC, and city utilities.
Property Size7,124 SF
Lot Size0.74 Acres
Price / SF$108.79
Days on Market28
Property Features for 160 N 13th St
General Information
Standard status
Active
Size
7,124 SF
Lot size
0.74 Acres
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
12
Building Details
Year Built
1982
Stories
1
Listing Agency:
Vaden MacLeod Real Estate
Listed By:
Autumn MacLeod · License #0609498
(361) 557-0484
Source:
Thebranchinc
Added: Aug 6
Changed: Aug 30
Last Checked: Sep 1 at 8:43PM
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
Investment Insights
Based on property information with market context.
Built in 1982, this single-story apartment property contains 12 units within 7,124 square feet of building area. The unit mix includes one- and two-bedroom layouts, with central electric heat and air and city utilities serving the property. Occupancy is reported at 100 percent.
The property occupies 32,340 square feet at 160 N 13th St in Aransas Pass. The surrounding area includes Aransas Pass High School, downtown shopping, restaurants, and coastal fishing destinations, all described as minutes from the property. Showings are by appointment, and site visits should be scheduled in advance.
The property occupies 32,340 square feet at 160 N 13th St in Aransas Pass. The surrounding area includes Aransas Pass High School, downtown shopping, restaurants, and coastal fishing destinations, all described as minutes from the property. Showings are by appointment, and site visits should be scheduled in advance.
Key Highlights
- 12‑unit apartment property with 100% occupancy
- One- and two‑bedroom unit mix in a single‑story layout
- 7,124 building square feet on a 32,340‑square‑foot site
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
$58,354
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
7.53%
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%
$1,167,080
$1.2M
Cap Rate 7%
$833,629
$833.6K
Cap Rate 9%
$648,378
$648.4K
Market Conditions
NOI Build-Up for 7,124 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
$121.4K $17.04/SF
− Vacancy
−$15.3K −$2.15/SF
EGI
$106.1K $14.89/SF
− OpEx
−$47.7K −$6.70/SF
NOI
$58.4K $8.19/SF
Area
San Patricio County, TX
Vacancy
12.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,167,080
Cap Rate 7%
$833,629
Cap Rate 9%
$648,378
Alternative Uses
Best Use
Apartment 5plus
$833.6K
$729.4K – $972.6K
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
NOI $255,823 @ 7.0% cap · market cap 33.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 78336, TX
12,009
Population
6,577
Households
1.8
Avg Household Size
45
Median Age
16%
College-Educated
87%
High-School Grad
60.0 sq mi
ZIP Area
200
Density / Sq Mi
$58,536
Median Household Income
$37,297
Median Earnings
$1,182
Median Rent
$204,200
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?
Apartment building - Fully occupied property with one- and two-bedroom floor plans, central electric HVAC, and city utilities.
Where is this apartment building located?
The property is located at 160 N 13th St 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: 12‑unit apartment property with 100% occupancy; One- and two‑bedroom unit mix in a single‑story layout; 7,124 building square feet on a 32,340‑square‑foot site
