Renovated
For Sale
$255,000
2833 Lawnview St, Corpus Christi, TX 78404
Fully leased duplex with updated systems, split-unit A/C, and a metal roof.
Property Size1,628 SF
Days on Market18
Property Features for 2833 Lawnview St
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,112
Amenities
split-unit A/C
Building Details
Building Size
1,628 SF
Year Built
1940
Buildings
1
Listing Agency:
LPT Realty, LLC
(832) 540-1006
Listed By:
Mylin Anandula · License #0716879
(832) 540-1006
Source:
National-onerealty
Added: Aug 7
Changed: Aug 16
Last Checked: Aug 23 at 8:29AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This duplex includes two residential units, each configured with 2 bedrooms and 1 bathroom. Both units are leased, and the property has undergone substantial renovations, including plumbing and electrical updates, a metal roof, new interior and exterior paint, and split-unit A/C systems.
Built in 1940, the property is located at 2833 Lawnview St in Corpus Christi, near Driscoll Children’s Hospital, downtown Corpus Christi, the shoreline, shopping, and dining. The property is zoned for a quadruplex and includes room to build in the back.
Built in 1940, the property is located at 2833 Lawnview St in Corpus Christi, near Driscoll Children’s Hospital, downtown Corpus Christi, the shoreline, shopping, and dining. The property is zoned for a quadruplex and includes room to build in the back.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Both units are fully leased
- Renovations include updated plumbing, electrical, paint, and finishes
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
$16,613
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
6.51%
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%
$332,260
$332.3K
Cap Rate 7%
$237,329
$237.3K
Cap Rate 9%
$184,589
$184.6K
Market Conditions
NOI Build-Up for 1,628 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
$27.0K $16.56/SF
− Vacancy
−$3.2K −$1.98/SF
EGI
$23.7K $14.58/SF
− OpEx
−$7.1K −$4.37/SF
NOI
$16.6K $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%
$332,260
Cap Rate 7%
$237,329
Cap Rate 9%
$184,589
Alternative Uses
Best Use
Multifamily LT 5
$237.3K
$207.7K – $276.9K
NOI $16,613 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$217.3K
$190.2K – $253.6K
NOI $15,213 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$387.4K
$339.0K – $451.9K
NOI $27,116 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
589
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 - Fully leased duplex with updated systems, split-unit A/C, and a metal roof.
Where is this duplex located?
The property is located at 2833 Lawnview St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Both units are fully leased; Renovations include updated plumbing, electrical, paint, and finishes
