6-Unit Apartment
315 N Front Street, Mathis, TX 78368
For Sale
$395,000
A single-story layout contains six one-bedroom residences in Mathis.
Property Size1,400 SF
Price / SF$282.14
Days on Market51
Property Features for 315 N Front Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Stories
Listing Agency:
Create Realty Group
Listed By:
Joseph Cortez · License TX #499527126
(361) 537-8959
Source:
Kmrealestate
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 12 at 4:54AM
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 Create Realty Group
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Investment Insights
Based on property information with market context.
This single-story apartment property contains six units, each configured with one bedroom and one bathroom. The building dates to 1946 and is located at 106 W Fulton Street in Mathis, Texas.
Lake Corpus Christi is nearby, and Corpus Christi is within commuting distance.
Lake Corpus Christi is nearby, and Corpus Christi is within commuting distance.
Key Highlights
- Six one‑bedroom, one‑bath units
- Single‑story apartment building
- Built in 1946
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,468
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$229,360
$229.4K
Cap Rate 7%
$163,829
$163.8K
Cap Rate 9%
$127,422
$127.4K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$23.9K $17.04/SF
− Vacancy
−$3.0K −$2.15/SF
EGI
$20.9K $14.89/SF
− OpEx
−$9.4K −$6.70/SF
NOI
$11.5K $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 Rate 5%
$229,360
Cap Rate 7%
$163,829
Cap Rate 9%
$127,422
Alternative Uses
Best Use
Apartment 5plus
$163.8K
$143.4K – $191.1K
NOI $11,468 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$394.6K
$345.3K – $460.3K
NOI $27,620 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
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Business Placement
Demographics for 78368, TX
8,726
Population
4,992
Households
1.7
Avg Household Size
43
Median Age
12%
College-Educated
77%
High-School Grad
206.5 sq mi
ZIP Area
42
Density / Sq Mi
$41,286
Median Household Income
$39,094
Median Earnings
$806
Median Rent
$87,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A single-story layout contains six one-bedroom residences in Mathis.
Where is this apartment building located?
The property is located at 315 N Front Street Mathis, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Six one‑bedroom, one‑bath units; Single‑story apartment building; Built in 1946
