Brick Duplex with Covered
For Sale
$160,000
602 Highway Avenue, Copperas Cove, TX 76522
Residential, Copperas Cove, TX
Property Size1,479 SF
Lot Size0.20 Acres
Price / SF$108.18
Days on Market97
Property Features for 602 Highway Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Interior features
CeilingFans, BreakfastArea
Appliances
ElectricRange, GasWaterHeater, RangeHood, WaterHeater, SomeElectricAppliances, Range
Subdivision
Fairview
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
W I-14 into Copperas Cove, right on Highway Ave, duplex is on the right.
Standard status
Active
APN
119138
Size
1,479 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIRVIEW ADDN #1, BLOCK 4, LOT 10, ACRES .1988
Tax Annual Amount
2176
Legal Description
FAIRVIEW ADDN #1, BLOCK 4, LOT 10, ACRES .1988
Utilities
Heating system
Electric (Heating), Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Wood, Tile
Building materials
BrickVeneer, Masonry
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Centex Priority Real Estate
(254) 522-4000
Listed By:
Erica McPhail · License #0590471
(254) 338-2122
Added: Jun 3
Changed: Sep 7
Last Checked: Sep 7 at 12:06PM
MLS# 615784
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 1,479-square-foot duplex at 602 Highway Avenue includes two separate residential units within a brick and masonry exterior. Each unit has its own entrance, living area, kitchen, bedrooms, and bathroom, with wood and tile flooring featured throughout the property. Central air conditioning, central heating, electric heating, natural gas, ceiling fans, and public water are among the listed systems and features. The building was constructed in 1964 and has a composition shingle roof.
The property occupies 0.1988 acres in Copperas Cove, Coryell County. Covered carports provide on-site parking, while mature shade trees and outdoor areas add to the established lot. The property is situated near shopping, dining, schools, and major commuting routes. Appliances listed include electric ranges, range hoods, gas water heaters, and additional water-heating equipment.
The property occupies 0.1988 acres in Copperas Cove, Coryell County. Covered carports provide on-site parking, while mature shade trees and outdoor areas add to the established lot. The property is situated near shopping, dining, schools, and major commuting routes. Appliances listed include electric ranges, range hoods, gas water heaters, and additional water-heating equipment.
Key Highlights
- Two separate units within a 1,479‑square‑foot duplex
- 0.1988‑acre lot with mature shade trees and outdoor space
- Covered carports provide on‑site parking
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
$12,783
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
7.99%
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%
$255,660
$255.7K
Cap Rate 7%
$182,614
$182.6K
Cap Rate 9%
$142,033
$142.0K
Market Conditions
NOI Build-Up for 1,479 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
$19.5K $13.20/SF
− Vacancy
−$1.3K −$0.85/SF
EGI
$18.3K $12.35/SF
− OpEx
−$5.5K −$3.70/SF
NOI
$12.8K $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%
$255,660
Cap Rate 7%
$182,614
Cap Rate 9%
$142,033
Alternative Uses
Best Use
Multifamily LT 5
$182.6K
$159.8K – $213.1K
NOI $12,783 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$169.0K
$147.8K – $197.1K
NOI $11,827 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$355.2K
$310.8K – $414.5K
NOI $24,867 @ 7.0% cap · market cap 15.54%
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
588
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-unit layout with separate entrances, practical kitchens, and wood and tile flooring.
Where is this duplex located?
The property is located at 602 Highway Avenue Copperas Cove, TX.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two separate units within a 1,479‑square‑foot duplex; 0.1988‑acre lot with mature shade trees and outdoor space; Covered carports provide on‑site parking
