Renovated
For Sale
$255,000
2833 Lawnview Street, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size1,628 SF
Lot Size0.16 Acres
Price / SF$156.63
Days on Market47
Property Features for 2833 Lawnview Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
On Street
Interior features
WindowTreatments, BreakfastBar, CeilingFans
Appliances
Dishwasher, ElectricOven, ElectricRange, FreeStandingRange, Disposal, Microwave, Refrigerator
Subdivision
Rest Haven
Lot features
Interior Lot
Elementary school
Menger
Middle school
Wynn Seale
High school
Ray
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
718300070090
Size
1,628 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
REST HAVEN BLK 7 LOT 9
Tax Annual Amount
3112
Legal Description
REST HAVEN BLK 7 LOT 9
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Amenities
split-unit A/C
Building Details
Year built
1940
Floors in Building
2
Flooring type
Vinyl
Roof type
Metal
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Mylin Anandula · License #0716879
(832) 540-1006
Added: Aug 7
Changed: Sep 22
Last Checked: Sep 22 at 3:06PM
MLS# 480432
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.
This 1,628-square-foot duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. Both units are fully leased and include split-unit heating and cooling, vinyl flooring, ceiling fans, breakfast bars, and updated interior finishes. Renovation work included plumbing, electrical, interior and exterior paint, and installation of a metal roof. The property was built in 1940 and is served by public water and public sewer.
The 0.1588-acre site is located near Driscoll Children's Hospital, downtown Corpus Christi, the shoreline, shopping, and dining. On-street parking is available. The property is zoned for a quadruplex, and the site includes room at the rear for additional construction, subject to applicable approvals.
The 0.1588-acre site is located near Driscoll Children's Hospital, downtown Corpus Christi, the shoreline, shopping, and dining. On-street parking is available. The property is zoned for a quadruplex, and the site includes room at the rear for additional construction, subject to applicable approvals.
Key Highlights
- 1,628 square feet with two 2‑bedroom, 1‑bath units
- Both units are fully leased
- 0.1588‑acre site zoned for a quadruplex
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 two-unit property with updated systems, separate living spaces, and zoning that permits a quadruplex.
Where is this duplex located?
The property is located at 2833 Lawnview Street 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: 1,628 square feet with two 2‑bedroom, 1‑bath units; Both units are fully leased; 0.1588‑acre site zoned for a quadruplex
