Updated Duplex with Fenced
For Sale
$164,000
1103 E Leon St, Gatesville, TX 76528
Two leased units offer modern finishes, private outdoor areas, and flexible ownership or investment use.
Property Size924 SF
Price / SF$177.49
Days on Market113
Property Features for 1103 E Leon St
General Information
Standard status
Active
Size
924 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
private fenced yards
ramp
Building Details
Year Built
1984
Buildings
1
Tenancy
Multi
Listing Agency:
Camille Johnson
(254) 405-6162
Listed By:
Kellie Gore · License #0697514
Source:
Northtexashomeguide
Added: May 11
Changed: Aug 29
Last Checked: Aug 30 at 6:08PM
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 Camille Johnson
Investment Insights
Based on property information with market context.
This 1984 duplex contains two residences, each arranged with one bedroom and one bathroom. The 924-square-foot property has updated kitchens and bathrooms, luxury vinyl plank flooring, refreshed finishes, and a newer roof. Both units include generous closet storage, dedicated pantry space, and private fenced yards. One residence also has an accessibility ramp, while ample parking supports day-to-day use.
Tenants are currently in place in both units, providing an established occupancy profile. The property is situated in a Gatesville neighborhood near shopping, dining, schools, and everyday amenities. Its two-unit configuration supports either continued rental operation or an owner-occupied arrangement with a separate residence on site.
Tenants are currently in place in both units, providing an established occupancy profile. The property is situated in a Gatesville neighborhood near shopping, dining, schools, and everyday amenities. Its two-unit configuration supports either continued rental operation or an owner-occupied arrangement with a separate residence on site.
Key Highlights
- Two‑unit duplex with 1‑bedroom, 1‑bathroom layouts
- 924 SF property built in 1984
- Updated kitchens, bathrooms, finishes, and luxury vinyl plank flooring
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
$7,986
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
4.87%
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%
$159,720
$159.7K
Cap Rate 7%
$114,086
$114.1K
Cap Rate 9%
$88,733
$88.7K
Market Conditions
NOI Build-Up for 924 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
$12.2K $13.20/SF
− Vacancy
−$788 −$0.85/SF
EGI
$11.4K $12.35/SF
− OpEx
−$3.4K −$3.70/SF
NOI
$8.0K $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%
$159,720
Cap Rate 7%
$114,086
Cap Rate 9%
$88,733
Alternative Uses
Best Use
Multifamily LT 5
$114.1K
$99.8K – $133.1K
NOI $7,986 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$105.6K
$92.4K – $123.2K
NOI $7,389 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$221.9K
$194.2K – $258.9K
NOI $15,536 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
432
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer modern finishes, private outdoor areas, and flexible ownership or investment use.
Where is this duplex located?
The property is located at 1103 E Leon St Gatesville, TX.
What is the asking price?
The asking price for this property is $164,000.
What are key features of this property?
This property features: Two‑unit duplex with 1‑bedroom, 1‑bathroom layouts; 924 SF property built in 1984; Updated kitchens, bathrooms, finishes, and luxury vinyl plank flooring
