Two-Duplex Multifamily
New
For Sale
$275,000
929 Mcdonald Street, Corpus Christi, TX 78418
Residential, Corpus Christi, TX
Property Size2,552 SF
Lot Size0.32 Acres
Price / SF$107.76
Days on Market3
Property Features for 929 Mcdonald Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Rooms
Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
Subdivision
Flour Bluff Park
Lot features
Interior Lot
Elementary school
Flour Bluff
Middle school
Flour Bluff
High school
Flour Bluff
Elementary school district
Flour Bluff ISD
Middle school district
Flour Bluff ISD
High school district
Flour Bluff ISD
Standard status
Active
APN
254000120080
Size
2,552 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
FLOUR BLUFF PARK BLK 12 LOT 8 & 9
Tax Annual Amount
4210
Legal Description
FLOUR BLUFF PARK BLK 12 LOT 8 & 9
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Flooring type
Vinyl, Linoleum
Building materials
Brick, Frame
Roof type
Flat
Listing Agency:
Create Realty Group
(361) 356-4378
Listed By:
Joseph Cortez · License #0499527
(361) 537-8959
Added: Aug 29
Last Checked: Aug 31 at 3:06PM
MLS# 481644
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 property combines two duplex buildings at 929 and 933 McDonald Street, totaling four rental units and 2,552 square feet on 0.32 acres. Constructed in 1972, the buildings use brick and frame materials and feature vinyl and linoleum flooring, window-unit cooling, flat roofs, public water, and public sewer. The property currently generates rental income from its four units.
The 78418 location places the property near Naval Air Station Corpus Christi and approximately a 10-minute drive from area beaches, boating, and fishing. Restaurants, shopping, and everyday services are also nearby, with some destinations reachable by bicycle or a short drive.
The combination of two duplex structures, established occupancy-related income, and four residential units provides a straightforward multifamily configuration for continued rental operations.
The 78418 location places the property near Naval Air Station Corpus Christi and approximately a 10-minute drive from area beaches, boating, and fishing. Restaurants, shopping, and everyday services are also nearby, with some destinations reachable by bicycle or a short drive.
The combination of two duplex structures, established occupancy-related income, and four residential units provides a straightforward multifamily configuration for continued rental operations.
Key Highlights
- Two duplex buildings at 929 and 933 McDonald Street
- Four rental units totaling 2,552 square feet
- 0.32‑acre property in Corpus Christi's 78418 area
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 - Four rental units with established income and proximity to 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 $275,000.
What are key features of this property?
This property features: Two duplex buildings at 929 and 933 McDonald Street; Four rental units totaling 2,552 square feet; 0.32‑acre property in Corpus Christi's 78418 area
