Brick Duplex with Off-Street
New
For Sale
$190,000
309 Horseshoe Drive, Copperas Cove, TX 76522
Residential, Copperas Cove, TX
Property Size1,700 SF
Lot Size0.22 Acres
Price / SF$111.76
Days on Market6
Property Features for 309 Horseshoe Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Interior features
CeilingFans, BreakfastArea
Subdivision
Cummings Addn #3
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
From US-190, take FM 116 south toward Copperas Cove. Turn onto E Avenue D, then continue to Horseshoe Dr. Turn onto Horseshoe Dr; 309 Horseshoe Dr will be on your right.
Standard status
Active
APN
118850
Size
1,700 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CUMMINGS ADDN #3, BLOCK 1, LOT 1, ACRES .2185
Tax Annual Amount
3957
Legal Description
CUMMINGS ADDN #3, BLOCK 1, LOT 1, ACRES .2185
Building Details
Year built
1986
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition, Shingle
Listing Agency:
Home Simple of Texas, Inc
Listed By:
Daniel R. Webber · License #0524009
(512) 934-1188
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 7 at 11:06AM
MLS# 624299
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.
Located at 309 Horseshoe Drive in Copperas Cove, this brick duplex was built in 1986 and contains 1,700 square feet on a 0.2185-acre lot. The property includes a two-bedroom, one-bath layout, central heating and cooling, ceiling fans, a breakfast area, and a washer/dryer. Off-street parking supports everyday access, while the shingle and composition roof provides the primary overhead covering. The home is served by vinyl flooring as identified in the property details, although other source information references tile flooring; that conflicting detail is not characterized further.
Key Highlights
- Two‑bedroom, 1‑bath duplex
- 1,700 square feet on a 0.2185‑acre lot
- Brick construction built in 1986
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
$14,693
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
7.73%
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%
$293,860
$293.9K
Cap Rate 7%
$209,900
$209.9K
Cap Rate 9%
$163,256
$163.3K
Market Conditions
NOI Build-Up for 1,700 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
$22.4K $13.20/SF
− Vacancy
−$1.4K −$0.85/SF
EGI
$21.0K $12.35/SF
− OpEx
−$6.3K −$3.70/SF
NOI
$14.7K $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%
$293,860
Cap Rate 7%
$209,900
Cap Rate 9%
$163,256
Alternative Uses
Best Use
Multifamily LT 5
$209.9K
$183.7K – $244.9K
NOI $14,693 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$194.2K
$169.9K – $226.6K
NOI $13,594 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$408.3K
$357.3K – $476.4K
NOI $28,583 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
416
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, one-bath layout includes central HVAC, a washer/dryer, ceiling fans, and a breakfast area.
Where is this duplex located?
The property is located at 309 Horseshoe Drive Copperas Cove, TX.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two‑bedroom, 1‑bath duplex; 1,700 square feet on a 0.2185‑acre lot; Brick construction built in 1986
