4-Unit Duplex
New
For Sale
$225,000
929 McDonald Street, Corpus Christi, TX 78418
Two residential buildings contain four rental units near Naval Air Station Corpus Christi.
Property Size2,552 SF
Price / SF$88.17
Days on Market2
Property Features for 929 McDonald Street
General Information
Standard status
Active
Size
2,552 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Additional Details
Gross Income
$32,400
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,210
Building Details
Building Size
2,552 SF
Year Built
1972
Buildings
2
Stories
1
Listing Agency:
Create Realty Group
(361) 356-4378
Listed By:
Joseph Cortez · License #0499527
(361) 537-8959
Source:
Ambassadorgrouprealty
Added: Nov 2
Last Checked: Nov 2 at 1:56PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises two duplex buildings with four rental units and 2,552 square feet. Built in 1972, the buildings are offered as-is; one unit has recent damage.
The property is near Naval Air Station Corpus Christi and about a 10-minute drive from area beaches. Restaurants, shopping, and everyday services are also nearby.
The property is near Naval Air Station Corpus Christi and about a 10-minute drive from area beaches. Restaurants, shopping, and everyday services are also nearby.
Key Highlights
- Two duplexes with four rental units
- 2,552 square feet across the property
- Built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,021
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,420
$400.4K
Cap Rate 7%
$286,014
$286.0K
Cap Rate 9%
$222,456
$222.5K
Market Conditions
NOI Build-Up for 2,552 SF
Gross rent
$41.6K $16.32/SF
− Vacancy
−$5.2K −$2.06/SF
EGI
$36.4K $14.26/SF
− OpEx
−$16.4K −$6.42/SF
NOI
$20.0K $7.85/SF
Area
ZIP 78418
Vacancy
12.60%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,420
Cap Rate 7%
$286,014
Cap Rate 9%
$222,456
Alternative Uses
Best Use
Multifamily LT 5
$323.5K
$283.1K – $377.4K
NOI $22,645 @ 7.0% cap · market cap 10.06%
Second Best
Apartment 5plus
$286.0K
$250.3K – $333.7K
NOI $20,021 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$975.6K
$853.6K – $1.14M
NOI $68,290 @ 7.0% cap · market cap 30.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential buildings contain four rental units near Naval Air Station Corpus Christi.
Where is this duplex located?
The property is located at 929 McDonald Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two duplexes with four rental units; 2,552 square feet across the property; Built in 1972
