Four-Unit Multifamily
For Sale
$650,000
106 Bluebonnet St Unit 4, Gatesville, TX 76528
Fully occupied residential income property with private outdoor space and functional three-bedroom floor plans.
Property Size4,352 SF
Price / SF$149.36
Days on Market347
Property Features for 106 Bluebonnet St Unit 4
General Information
Standard status
Active
Size
4,352 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Amenities
private fenced backyard
covered patio
Building Details
Year Built
2004
Listing Agency:
UCRE Heart of Texas Land & Home
(254) 362-5370
Listed By:
Glenda Hall · License #0578236
Source:
Dfwareahousehunt
Added: Sep 17, 2025
Changed: Aug 29
Last Checked: Aug 25 at 6:05AM
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 UCRE Heart of Texas Land & Home
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 106 Bluebonnet Street in Gatesville, Texas, contains 4,352 square feet completed in 2004. Each residence measures approximately 1,088 square feet and includes three bedrooms, two bathrooms, a full kitchen, living area, and a first-floor bedroom. Private fenced yards and covered patios provide dedicated outdoor space for each unit.
The property is 100% occupied and has a roof installed in 2022. It sits in an established residential neighborhood near schools, shopping, restaurants, and local services. Exterior viewing only; tenants should not be disturbed.
The property is 100% occupied and has a roof installed in 2022. It sits in an established residential neighborhood near schools, shopping, restaurants, and local services. Exterior viewing only; tenants should not be disturbed.
Key Highlights
- Four units totaling 4,352 square feet
- Each unit is approximately 1,088 square feet with a 3‑bedroom, 2‑bath layout
- 100% occupancy
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
$37,615
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
5.79%
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%
$752,300
$752.3K
Cap Rate 7%
$537,357
$537.4K
Cap Rate 9%
$417,944
$417.9K
Market Conditions
NOI Build-Up for 4,352 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
$57.4K $13.20/SF
− Vacancy
−$3.7K −$0.85/SF
EGI
$53.7K $12.35/SF
− OpEx
−$16.1K −$3.70/SF
NOI
$37.6K $8.64/SF
Area
Coryell County, TX
Vacancy
6.46%
Lease Rate
$13.20 /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%
$752,300
Cap Rate 7%
$537,357
Cap Rate 9%
$417,944
Alternative Uses
Best Use
Multifamily LT 5
$537.4K
$470.2K – $626.9K
NOI $37,615 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$497.2K
$435.0K – $580.0K
NOI $34,801 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$1.05M
$914.7K – $1.22M
NOI $73,172 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential income property with private outdoor space and functional three-bedroom floor plans.
Where is this quadplex located?
The property is located at 106 Bluebonnet St Unit 4 Gatesville, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four units totaling 4,352 square feet; Each unit is approximately 1,088 square feet with a 3‑bedroom, 2‑bath layout; 100% occupancy
