3-Unit Brick
For Sale
$325,000
6205 Wilderock Dr, Corpus Christi, TX 78414
Brick construction supports a mixed unit layout with two- and one-bedroom residences.
Property Size3,830 SF
Price / SF$84.86
Days on Market32
Property Features for 6205 Wilderock Dr
General Information
Standard status
Active
Size
3,830 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
HOA Fee
$453.33
Building Details
Year Built
1983
Buildings
1
Construction
brick
Listing Agency:
Mirabal Montalvo & Associates
(361) 765-1725
Listed By:
Chris Montalvo · License #0528565
Source:
Thebranchinc
Added: Jul 31
Changed: Aug 31
Last Checked: Aug 31 at 4:12AM
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 Mirabal Montalvo & Associates
Investment Insights
Based on property information with market context.
Built in 1983, this triplex contains 3,830 square feet across three residential units with a brick exterior. The unit mix includes two two-bedroom, two-bath residences and one one-bedroom, one-bath residence, providing varied floor plans within the same property.
The property is located at 6205 Wilderock Dr in Corpus Christi’s Southside. HOA services include basic cable, lawn care, roof maintenance, and exterior building maintenance. These services are handled through the association and apply to the property’s shared exterior and site responsibilities.
The property is located at 6205 Wilderock Dr in Corpus Christi’s Southside. HOA services include basic cable, lawn care, roof maintenance, and exterior building maintenance. These services are handled through the association and apply to the property’s shared exterior and site responsibilities.
Key Highlights
- 3,830‑square‑foot triplex built in 1983
- Three‑unit configuration with two 2‑bedroom, 2‑bath units and one 1‑bedroom, 1‑bath unit
- Brick exterior construction
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
$23,223
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
7.15%
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%
$464,460
$464.5K
Cap Rate 7%
$331,757
$331.8K
Cap Rate 9%
$258,033
$258.0K
Market Conditions
NOI Build-Up for 3,830 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
$37.7K $9.84/SF
− Vacancy
−$4.5K −$1.18/SF
EGI
$33.2K $8.66/SF
− OpEx
−$10.0K −$2.60/SF
NOI
$23.2K $6.06/SF
Area
ZIP 78414
Vacancy
11.97%
Lease Rate
$9.84 /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%
$464,460
Cap Rate 7%
$331,757
Cap Rate 9%
$258,033
Alternative Uses
Best Use
Multifamily LT 5
$331.8K
$290.3K – $387.1K
NOI $23,223 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$293.5K
$256.8K – $342.4K
NOI $20,546 @ 7.0% cap · market cap 6.32%
Theoretical Best
Specialty Retail
$1.04M
$910.0K – $1.21M
NOI $72,801 @ 7.0% cap · market cap 22.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 78414, TX
46,972
Population
20,121
Households
2.3
Avg Household Size
35
Median Age
39%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
3,308
Density / Sq Mi
$96,788
Median Household Income
$56,626
Median Earnings
$1,549
Median Rent
$271,300
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?
Triplex - Brick construction supports a mixed unit layout with two- and one-bedroom residences.
Where is this triplex located?
The property is located at 6205 Wilderock Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,830‑square‑foot triplex built in 1983; Three‑unit configuration with two 2‑bedroom, 2‑bath units and one 1‑bedroom, 1‑bath unit; Brick exterior construction
