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    1226 Walt Morgan Circle Copperas Cove, TX 76522

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    For Sale
    $230,000

    MULTI_FAMILY - Other - Copperas Cove, TX

    Property size:
    1,838 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $125/SF
    Added:
    Jan 22, 2026
    Days on Market:
    105
    Last Refresh:
    May 7 at 9:06 am

    Property Features for 1226 Walt Morgan Circle

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Rooms
    Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3
    Patio and Porch features
    Patio
    Interior features
    TubShower, Vanity, WalkInClosets, GraniteCounters, Pantry, SolidSurfaceCounters
    Exterior features
    CoveredPatio, Storage
    Appliances
    Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, Microwave, Refrigerator, WaterHeater, SomeElectricAppliances
    Standard status
    Active
    APN
    121861
    Size
    1,838 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    MORGAN ADDN, BLOCK 1, LOT 15, ACRES .2619
    Tax Annual Amount
    2622

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1998
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile
    Building materials
    Masonry
    Roof type
    Shingle, Composition
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Katie Strange

    Listing agent Katie Strange License #0743427

    Listing office Two Lakes Real Estate 508 N Wall St, TX

    Listing date Jan 22, 2026

    MLS# 602649 Listing URL

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • One unit (1228) is vacant, move‑in ready with fresh paint and new granite countertops.
    • New roof with impact‑resistant architectural shingles installed in 2025 and fresh exterior paint.
    • Unit 1226 is tenant‑occupied, providing immediate rental income of $945/month through August 2026.
    • Both units feature ceramic tile flooring throughout.
    • Major mechanical updates: Unit 1228 has a new A/C (2022) and water heater (2025); Unit 1226 has a new A/C and water heater (2020).
    • Duplex offers the ability to offset mortgage with rental income and reduce vacancy risk.

    Overview

    Well-Maintained Duplex with Income Potential

    This well-maintained duplex presents an opportunity for real estate investment or owner-occupancy with rental income. Each unit features 2 bedrooms and 1 bathroom. Unit 1228 is vacant and move-in ready, featuring fresh interior paint, new granite countertops, and ceramic tile throughout. A new A/C unit was installed in 2022, and a new water heater was installed in 2025. Unit 1226 is tenant-occupied, generating a rental income of $945 per month with a lease extending through August 30, 2026. This unit includes ceramic tile flooring, a new A/C installed in 2020, and a new water heater installed in 2020. Exterior upgrades to the duplex include fresh paint and a new roof with impact-resistant architectural shingles installed in 2025. The property is located in Copperas Cove, TX, situated on a lot of 0.2619 acres. The property size is 1838 square feet. Unit 1228 is move-in ready, while Unit 1226 provides stable income. This duplex offers flexibility and potential for investors or owner-occupiers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Copperas Cove
    County
    Coryell
    State
    Texas
    Longitude
    -97.890004
    Latitude
    31.126291

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    FAQs

    What type of property is this?
    Duplex - Duplex with recent updates, immediate income, and flexible occupancy.
    Where is this duplex located?
    The property is located at 1226 Walt Morgan Circle Copperas Cove, TX.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: One unit (1228) is vacant, move‑in ready with fresh paint and **new granite countertops**.; **New roof** with impact‑resistant architectural shingles installed in 2025 and fresh exterior paint.; Unit 1226 is tenant‑occupied, providing immediate rental income of $945/month through August 2026.
    (254) 316-9606
    We can help!
    Listing Contact
    Katie Strange
    Real Estate License ID: 0743427
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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