Four-Unit Duplex
New
For Sale
$275,000
929 Mcdonald St, Corpus Christi, TX 78418
Rental improvements near Naval Air Station Corpus Christi, with upgrades completed over time and area beaches about a 10-minute drive away.
Property Size2,552 SF
Days on Market4
Property Features for 929 Mcdonald St
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Duplex
Additional Details
Gross Income
$32,400
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,210
Building Details
Building Size
2,552 SF
Year Built
1972
Buildings
2
Listing Agency:
Create Realty Group
(361) 537-8959
Listed By:
Joseph Cortez · License #0499527
(361) 537-8959
Source:
National-onerealty
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 9:36PM
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
Investment Insights
Based on property information with market context.
Located on McDonald St in Corpus Christi, this residential property includes two duplex buildings at 929 and 933 McDonald St. Together, the buildings contain four rental units. The improvements date to 1972 and have received upgrades over the years, providing an established residential income configuration.
Naval Air Station Corpus Christi is nearby, while area beaches, boating, and fishing destinations are approximately a 10-minute drive away. Restaurants, shopping, and everyday conveniences are also located nearby, with many destinations reachable by bicycle or a short drive. The property offers a four-unit duplex layout in the 78418 area.
Naval Air Station Corpus Christi is nearby, while area beaches, boating, and fishing destinations are approximately a 10-minute drive away. Restaurants, shopping, and everyday conveniences are also located nearby, with many destinations reachable by bicycle or a short drive. The property offers a four-unit duplex layout in the 78418 area.
Key Highlights
- Two duplex buildings at 929 and 933 McDonald St
- Four rental units across the property
- Built in 1972
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
$22,645
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
8.23%
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%
$452,900
$452.9K
Cap Rate 7%
$323,500
$323.5K
Cap Rate 9%
$251,611
$251.6K
Market Conditions
NOI Build-Up for 2,552 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
$36.7K $14.40/SF
− Vacancy
−$4.4K −$1.72/SF
EGI
$32.3K $12.68/SF
− OpEx
−$9.7K −$3.80/SF
NOI
$22.6K $8.87/SF
Area
ZIP 78418
Vacancy
11.97%
Lease Rate
$14.40 /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%
$452,900
Cap Rate 7%
$323,500
Cap Rate 9%
$251,611
Alternative Uses
Best Use
Multifamily LT 5
$323.5K
$283.1K – $377.4K
NOI $22,645 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$286.0K
$250.3K – $333.7K
NOI $20,021 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$975.6K
$853.6K – $1.14M
NOI $68,290 @ 7.0% cap · market cap 24.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
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 - Rental improvements near Naval Air Station Corpus Christi, with upgrades completed over time and area beaches about a 10-minute drive away.
Where is this duplex located?
The property is located at 929 Mcdonald St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two duplex buildings at 929 and 933 McDonald St; Four rental units across the property; Built in 1972
