Duplex with Attached
For Sale
$360,000
5053 Middlecoff Circle, Corpus Christi, TX 78413
Two distinct residences offer private outdoor space, laundry hookups, and varied bedroom layouts for flexible occupancy.
Property Size3,061 SF
Price / SF$117.61
Days on Market46
Property Features for 5053 Middlecoff Circle
General Information
Standard status
Active
Size
3,061 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
private fenced backyard
indoor washer and dryer connections
Building Details
Year Built
1977
Listing Agency:
Keller Williams Coastal Bend
(361) 442-9851
Listed By:
Angelica Flores · License #0786204
Source:
Kmrealestate
Added: Jul 19
Changed: Aug 31
Last Checked: Sep 1 at 3:19PM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
This 3,061-square-foot duplex, built in 1977, combines two separate residences with practical features for rental or owner occupancy. Both units include a private fenced backyard, washer and dryer connections, and an attached two-car garage. One residence provides two bedrooms, each with a private bathroom, plus a living area and separate dining room.
The second unit offers three bedrooms and two bathrooms in a two-level layout with high ceilings, an open living arrangement, abundant natural light, a covered patio, and a downstairs primary bedroom. Two additional bedrooms are located upstairs, creating a distinct configuration from the companion unit.
The second unit offers three bedrooms and two bathrooms in a two-level layout with high ceilings, an open living arrangement, abundant natural light, a covered patio, and a downstairs primary bedroom. Two additional bedrooms are located upstairs, creating a distinct configuration from the companion unit.
Key Highlights
- Two‑unit duplex totaling 3,061 square feet
- Built in 1977
- Each unit includes a private fenced backyard
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
$28,746
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
7.99%
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%
$574,920
$574.9K
Cap Rate 7%
$410,657
$410.7K
Cap Rate 9%
$319,400
$319.4K
Market Conditions
NOI Build-Up for 3,061 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
$46.6K $15.24/SF
− Vacancy
−$5.6K −$1.82/SF
EGI
$41.1K $13.42/SF
− OpEx
−$12.3K −$4.02/SF
NOI
$28.7K $9.39/SF
Area
ZIP 78413
Vacancy
11.97%
Lease Rate
$15.24 /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%
$574,920
Cap Rate 7%
$410,657
Cap Rate 9%
$319,400
Alternative Uses
Best Use
Multifamily LT 5
$410.7K
$359.3K – $479.1K
NOI $28,746 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$355.7K
$311.2K – $414.9K
NOI $24,896 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,320 @ 7.0% cap · market cap 22.59%
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
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 78413, TX
37,531
Population
15,501
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,751
Density / Sq Mi
$71,624
Median Household Income
$44,342
Median Earnings
$1,321
Median Rent
$230,900
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 distinct residences offer private outdoor space, laundry hookups, and varied bedroom layouts for flexible occupancy.
Where is this duplex located?
The property is located at 5053 Middlecoff Circle Corpus Christi, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,061 square feet; Built in 1977; Each unit includes a private fenced backyard
