Renovated Four-Unit
For Sale
$439,900
642 Robinson Street, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size3,072 SF
Lot Size0.22 Acres
Price / SF$143.20
Days on Market22
Property Features for 642 Robinson Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 1, Bedroom 8, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4
Parking
6
Parking features
On Street, Off Street
Patio and Porch features
Patio
Interior features
OpenFloorplan, WindowTreatments
Appliances
ElectricCooktop, ElectricOven, ElectricRange, GasCooktop, GasOven, GasRange, Refrigerator
Subdivision
Lindale Park #4
Lot features
Interior Lot, Landscaped
Elementary school
Menger
Middle school
Hamlin
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
447500380100
Size
3,072 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
LINDALE PARK 4 W20' LT 10 ALL LT 11 BLK 38
Tax Annual Amount
3707
Legal Description
LINDALE PARK 4 W20' LT 10 ALL LT 11 BLK 38
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Ductless (Heating)
Cooling system
Gas (Cooling), Window Unit(s), Ductless
Water source
Public
Amenities
shared laundry
Building Details
Year built
1948
Floors in Building
2
Number of units
1
Flooring type
Vinyl
Building materials
Brick, Frame, HardiplankType, ShingleSiding, WoodSiding
Roof type
Shingle
Listing Agency:
Cass Real Estate
(361) 643-2662
Listed By:
Brenton Reagan · License #0669077
(512) 736-2695
Added: Aug 26
Changed: Sep 15
Last Checked: Sep 16 at 3:06PM
MLS# 481495
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 four-unit residential income property contains 3,072 square feet on a 0.22-acre lot, with two units on each level. Every apartment offers two bedrooms and one bathroom. The property was renovated beginning in 2023 with foundation improvements, new subfloors, mini-split systems, vinyl plank flooring, interior and exterior paint, appliances, and furnishings. Three apartments are furnished for mid-term stays, while the remaining unit is unfurnished for a long-term lease. Furniture and decor in the furnished units convey with the property.
All four units are currently occupied. Shared amenities include a rear laundry closet with a washer and dryer that convey, along with rear tenant parking and awnings that are currently down. Water and gas use master meters, while each unit has a separate electric meter. The property has public water and sewer and is located at 642 Robinson Street in Corpus Christi, Texas.
The property reports a 10.3% cap rate. Three units have gas cooking equipment and one has electric cooking equipment, providing a mix of appliances across the building.
All four units are currently occupied. Shared amenities include a rear laundry closet with a washer and dryer that convey, along with rear tenant parking and awnings that are currently down. Water and gas use master meters, while each unit has a separate electric meter. The property has public water and sewer and is located at 642 Robinson Street in Corpus Christi, Texas.
The property reports a 10.3% cap rate. Three units have gas cooking equipment and one has electric cooking equipment, providing a mix of appliances across the building.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units totaling 3,072 square feet
- 100% occupied with three furnished mid‑term units and one unfurnished long‑term unit
- Renovation work since 2023 includes foundation repairs, new subfloors, flooring, paint, appliances, and mini‑split systems
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
$31,348
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
7.13%
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%
$626,960
$627.0K
Cap Rate 7%
$447,829
$447.8K
Cap Rate 9%
$348,311
$348.3K
Market Conditions
NOI Build-Up for 3,072 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
$50.9K $16.56/SF
− Vacancy
−$6.1K −$1.98/SF
EGI
$44.8K $14.58/SF
− OpEx
−$13.4K −$4.37/SF
NOI
$31.3K $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%
$626,960
Cap Rate 7%
$447,829
Cap Rate 9%
$348,311
Alternative Uses
Best Use
Multifamily LT 5
$447.8K
$391.9K – $522.5K
NOI $31,348 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$410.1K
$358.8K – $478.5K
NOI $28,707 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$731.0K
$639.6K – $852.8K
NOI $51,167 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,224
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
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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?
Quadplex - Four two-bedroom units with updated interiors, furnished lease options, shared laundry, and full occupancy.
Where is this quadplex located?
The property is located at 642 Robinson Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bathroom units totaling 3,072 square feet; 100% occupied with three furnished mid‑term units and one unfurnished long‑term unit; Renovation work since 2023 includes foundation repairs, new subfloors, flooring, paint, appliances, and mini‑split systems
