5-Unit Waterfront Multifamily
For Sale
$750,000
4042 Loop 1781, Rockport, TX 78382
Residential, Rockport, TX
Property Size5,228 SF
Lot Size0.67 Acres
Price / SF$143.46
Days on Market156
Property Features for 4042 Loop 1781
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bathroom 4, Bedroom 5, Bathroom 6, Bedroom 4, Bedroom 9, Bedroom 8, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 10, Bedroom 7, Bedroom 2
Patio and Porch features
Patio
Interior features
CathedralCeilings, SplitBedrooms, WindowTreatments, CeilingFans
Appliances
Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, FreeStandingRange, MultipleWaterHeaters
Subdivision
Copano Village Addition
View
Water
Elementary school
FultonLearningCenter
Middle school
RockportFulton
High school
RockportFulton
Elementary school district
RockportFultonISD
Middle school district
RockportFultonISD
High school district
RockportFultonISD
Directions
Corner of Live Oak street and Loop 1781 across from Copano Bay.
Standard status
Active
APN
1375-000-024-000
Size
5,228 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Description
S1375 Copano Village Addition Lot 24, 25, 26 and 27
Tax Annual Amount
5319
Legal Description
S1375 Copano Village Addition Lot 24, 25, 26 and 27
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
on-site laundry
Building Details
Year built
1973
Floors in Building
2
Number of units
4
Flooring type
Tile, Laminate
Building materials
HardiplankType, ShingleSiding, WoodSiding
Roof type
Shingle
Listing Agency:
Prime Real Estate
(361) 334-7653
Listed By:
Bridget Knower · License #0588097
(361) 633-9057
Added: Apr 22
Changed: Sep 21
Last Checked: Sep 24 at 2:06AM
MLS# 475301
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 multifamily property contains 5 units totaling 5,228 square feet on 0.67 acres. The configuration includes two duplex homes and one single-story home, with each unit offering 2 bedrooms and 1 bath. Interior features include cathedral ceilings, split-bedroom layouts, window treatments, ceiling fans, laminate and tile flooring, central air, and electric central heating. Appliances include dishwashers, electric cooking equipment, and multiple water heaters. The improvements were built in 1973 and include Hardiplank, shingle, and wood siding, shingle roofing, patios, and public water service.
The property has expansive water views and is located in Rockport, Texas. Ownership is not subject to HOA restrictions. On-site laundry provides an additional property feature, and the offering may be acquired as a package or potentially separated into the duplex and triplex components.
The property has expansive water views and is located in Rockport, Texas. Ownership is not subject to HOA restrictions. On-site laundry provides an additional property feature, and the offering may be acquired as a package or potentially separated into the duplex and triplex components.
Key Highlights
- 5‑unit multifamily property with five 2‑bedroom, 1‑bath units
- 5,228 square feet on 0.67 acres
- Two duplex homes plus one single‑story home
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
$48,323
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
6.44%
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%
$966,460
$966.5K
Cap Rate 7%
$690,329
$690.3K
Cap Rate 9%
$536,922
$536.9K
Market Conditions
NOI Build-Up for 5,228 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
$78.4K $15.00/SF
− Vacancy
−$9.4K −$1.80/SF
EGI
$69.0K $13.20/SF
− OpEx
−$20.7K −$3.96/SF
NOI
$48.3K $9.24/SF
Area
Aransas County, TX
Vacancy
11.97%
Lease Rate
$15.00 /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%
$966,460
Cap Rate 7%
$690,329
Cap Rate 9%
$536,922
Alternative Uses
Best Use
Multifamily LT 5
$690.3K
$604.0K – $805.4K
NOI $48,323 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$611.8K
$535.3K – $713.7K
NOI $42,823 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,897 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Five two-bedroom units are arranged across two duplex homes and a single-story residence.
Where is this multifamily property located?
The property is located at 4042 Loop 1781 Rockport, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5‑unit multifamily property with five 2‑bedroom, 1‑bath units; 5,228 square feet on 0.67 acres; Two duplex homes plus one single‑story home
