Under-Construction Residential
For Sale
$392,000
305 Rain Dance Trail, Copperas Cove, TX 76522
Residential, Copperas Cove, TX
Property Size2,442 SF
Lot Size0.44 Acres
Price / SF$160.52
Days on Market66
Property Features for 305 Rain Dance Trail
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 2
Parking features
Garage
Interior features
DoubleVanity, PullDownAtticStairs, TubShower, WalkInClosets, GraniteCounters, Pantry
Fencing
Privacy
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, WaterHeater, SomeElectricAppliances, Microwave, Range
Subdivision
The Valley at Great Hills
Lot features
City Lot, Quarter To Half Acre Lot, Sprinklers In Ground
Elementary school district
Lampasas ISD
Middle school district
Lampasas ISD
High school district
Lampasas ISD
Directions
Go west on I-14/Hwy 190 towards Copperas Cove, take the bypass towards Kempner/Lampasas, turn left onto Great Hills Drive, turn right onto Rain Dance Trail.
Standard status
Active
APN
188022
Size
2,442 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lot 26, Block 1, The Valley at Great Hills, Phase 2
Tax Annual Amount
1311
HOA Fee
$250 Annually
Legal Description
Lot 26, Block 1, The Valley at Great Hills, Phase 2
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
yard sprinkler system
sod
privacy fence
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
ERA Brokers Consolidated
(254) 698-4300
Listed By:
Lieselotte Carroll · License #0281463
(254) 554-1292
Added: Jun 30
Changed: Aug 20
Last Checked: Sep 3 at 11:06AM
MLS# 616592
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 under-construction duplex contains 2442 square feet and is planned with 3 bedrooms, 2 baths, and a 1-car garage. Interior specifications include granite kitchen countertops, cultured marble bathroom vanities, tiled tub surrounds, luxury vinyl plank flooring, walk-in closets, pantry storage, and double vanities. Central electric heating and cooling, electric appliances, and public water and sewer are also included.
Exterior improvements include a fully irrigated yard, up to 16 pallets of sod, and privacy fencing that separates the units. The property sits on 0.4401 acres in Lampasas County and is assigned to the Lampasas school district. Construction is scheduled for 2026, with shingle and composition roofing specified.
Exterior improvements include a fully irrigated yard, up to 16 pallets of sod, and privacy fencing that separates the units. The property sits on 0.4401 acres in Lampasas County and is assigned to the Lampasas school district. Construction is scheduled for 2026, with shingle and composition roofing specified.
Key Highlights
- Duplex under construction with 2442 square feet
- 3 bedrooms, 2 baths, and a 1‑car garage
- Granite kitchen counters and cultured marble bathroom vanities
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
$21,106
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
5.38%
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%
$422,120
$422.1K
Cap Rate 7%
$301,514
$301.5K
Cap Rate 9%
$234,511
$234.5K
Market Conditions
NOI Build-Up for 2,442 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
$32.2K $13.20/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$30.2K $12.35/SF
− OpEx
−$9.0K −$3.70/SF
NOI
$21.1K $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%
$422,120
Cap Rate 7%
$301,514
Cap Rate 9%
$234,511
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.8K – $351.8K
NOI $21,106 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$279.0K
$244.1K – $325.5K
NOI $19,528 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$586.5K
$513.2K – $684.3K
NOI $41,058 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11
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
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?
Duplex - Two-unit residential property with upgraded finishes, private outdoor separation, and attached garage parking.
Where is this duplex located?
The property is located at 305 Rain Dance Trail Copperas Cove, TX.
What is the asking price?
The asking price for this property is $392,000.
What are key features of this property?
This property features: Duplex under construction with 2442 square feet; 3 bedrooms, 2 baths, and a 1‑car garage; Granite kitchen counters and cultured marble bathroom vanities
