Two-Unit Duplex
For Sale
$165,000
203 Veterans Avenue, Copperas Cove, TX 76522
Residential, Copperas Cove, TX
Property Size1,040 SF
Lot Size0.18 Acres
Price / SF$158.65
Days on Market48
Property Features for 203 Veterans Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2
Appliances
GasCooktop, Refrigerator, SomeGasAppliances
Subdivision
Elliot
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Copperas Cove ISD
Middle school district
Copperas Cove ISD
High school district
Copperas Cove ISD
Directions
Keep left to merge onto US-190 W, Take a slight right turn onto E Robertson Ave, keep going until E Robertson Ave turns into Veteran Ave, Address is on the left.
Standard status
Active
APN
119057
Size
1,040 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ELLIOT ADDN, BLOCK 2, LOT 3 N 1/2, ACRES .179
Tax Annual Amount
2169
Legal Description
ELLIOT ADDN, BLOCK 2, LOT 3 N 1/2, ACRES .179
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl
Building materials
WoodSiding
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Level Up Real Estate
(254) 226-3033
Listed By:
Ademola Olatunji · License #0659322
(910) 258-4043
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 12 at 6:06PM
MLS# 619509
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.
Investment Insights
Based on property information with market context.
This duplex contains approximately 1,040 square feet of total living space on a 0.179-acre lot. The room schedule includes three bedrooms and two bathrooms. Interior features include tile and vinyl flooring, while window units provide cooling. The property has wood siding and a composition shingle roof, with a gas cooktop, refrigerator, and some gas appliances included.
Built in 1974, the property is served by public water and public sewer. Its address is 203 Veterans Avenue in Copperas Cove, Texas, within Coryell County. The central location and access to major highways are identified as property features.
Built in 1974, the property is served by public water and public sewer. Its address is 203 Veterans Avenue in Copperas Cove, Texas, within Coryell County. The central location and access to major highways are identified as property features.
Key Highlights
- Two residential units with approximately 1,040 square feet of total living space
- 0.179‑acre lot in Copperas Cove, TX
- Three bedrooms and two bathrooms
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
$8,989
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
5.45%
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%
$179,780
$179.8K
Cap Rate 7%
$128,414
$128.4K
Cap Rate 9%
$99,878
$99.9K
Market Conditions
NOI Build-Up for 1,040 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
$13.7K $13.20/SF
− Vacancy
−$887 −$0.85/SF
EGI
$12.8K $12.35/SF
− OpEx
−$3.9K −$3.70/SF
NOI
$9.0K $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%
$179,780
Cap Rate 7%
$128,414
Cap Rate 9%
$99,878
Alternative Uses
Best Use
Multifamily LT 5
$128.4K
$112.4K – $149.8K
NOI $8,989 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$118.8K
$104.0K – $138.6K
NOI $8,316 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$249.8K
$218.6K – $291.4K
NOI $17,486 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 76522, TX
41,123
Population
17,370
Households
2.4
Avg Household Size
34
Median Age
21%
College-Educated
94%
High-School Grad
115.0 sq mi
ZIP Area
358
Density / Sq Mi
$70,629
Median Household Income
$39,126
Median Earnings
$1,029
Median Rent
$174,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential units with tile and vinyl flooring, window-unit cooling, and public water and sewer service.
Where is this duplex located?
The property is located at 203 Veterans Avenue Copperas Cove, TX.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two residential units with approximately 1,040 square feet of total living space; 0.179‑acre lot in Copperas Cove, TX; Three bedrooms and two bathrooms
