Duplex with Fenced
For Sale
$195,000
1802 16th St, Corpus Christi, TX 78404
Two residential units combine three-bedroom layouts, dedicated parking, and individual outdoor areas.
Property Size1,575 SF
Days on Market17
Property Features for 1802 16th St
General Information
Standard status
Active
Size
1,575 SF
Property subtype
Duplex
Units
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$4,607
Building Details
Building Size
1,575 SF
Year Built
1980
Listing Agency:
ValTex Realty
(361) 960-1779
Listed By:
Joe Monceballez · License #0586828
(361) 960-1779
Source:
National-onerealty
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 11:19PM
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 ValTex Realty
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two residential units, each arranged with three bedrooms, one bathroom, and a spacious living area. Separate fenced yards provide each unit with its own outdoor space, while dedicated parking is assigned to both residences.
The property is located at 1802 16th St in Corpus Christi’s 6 Points area, with downtown nearby. Its two-unit configuration and individual outdoor areas provide a straightforward setup for residential income use.
The property is located at 1802 16th St in Corpus Christi’s 6 Points area, with downtown nearby. Its two-unit configuration and individual outdoor areas provide a straightforward setup for residential income use.
Key Highlights
- Two‑unit duplex in Corpus Christi’s 6 Points area
- Each unit includes 3 bedrooms and 1 bathroom
- Spacious living areas in both units
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
$16,072
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
8.24%
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%
$321,440
$321.4K
Cap Rate 7%
$229,600
$229.6K
Cap Rate 9%
$178,578
$178.6K
Market Conditions
NOI Build-Up for 1,575 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
$26.1K $16.56/SF
− Vacancy
−$3.1K −$1.98/SF
EGI
$23.0K $14.58/SF
− OpEx
−$6.9K −$4.37/SF
NOI
$16.1K $10.20/SF
Area
Corpus Christi, TX
Vacancy
11.97%
Lease Rate
$16.56 /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%
$321,440
Cap Rate 7%
$229,600
Cap Rate 9%
$178,578
Alternative Uses
Best Use
Multifamily LT 5
$229.6K
$200.9K – $267.9K
NOI $16,072 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$210.3K
$184.0K – $245.3K
NOI $14,718 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$374.8K
$327.9K – $437.2K
NOI $26,233 @ 7.0% cap · market cap 13.45%
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
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 78404, TX
15,339
Population
6,884
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
4,793
Density / Sq Mi
$60,264
Median Household Income
$45,864
Median Earnings
$1,172
Median Rent
$180,500
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 - Two residential units combine three-bedroom layouts, dedicated parking, and individual outdoor areas.
Where is this duplex located?
The property is located at 1802 16th St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two‑unit duplex in Corpus Christi’s 6 Points area; Each unit includes 3 bedrooms and 1 bathroom; Spacious living areas in both units
