Two-Home Duplex
For Sale
$437,500
6430 E US Highway 84, Gatesville, TX 76528
Residential, Gatesville, TX
Property Size2,608 SF
Lot Size2.77 Acres
Price / SF$167.75
Days on Market139
Property Features for 6430 E US Highway 84
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Fencing
Fenced
Fireplace
1
Subdivision
J B Smith
Lot features
One To Three Acres, Outside City Limits
Elementary school district
Gatesville ISD
Middle school district
Gatesville ISD
High school district
Gatesville ISD
Directions
from Gatesville Courthouse, take Hwy 84 east to South Mountain. Property is across from Mountain Baptist Church, watch for sign on fence.
Standard status
Active
APN
157123
Size
2,608 SF
Lot size
2.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0907 J B SMITH, ACRES 2.7717, & 1484 RICHARDSON
Tax Annual Amount
2752
Legal Description
0907 J B SMITH, ACRES 2.7717, & 1484 RICHARDSON
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Fireplace(s)
Cooling system
Electric, Central Air
Building Details
Year built
1965
Floors in Building
1
Roof type
Mixed
Architectural style
Other
Listing Agency:
Tejas Real Estate
(254) 865-8954
Listed By:
Shelley Herring · License #0674589
(254) 865-3675
Added: Apr 29
Changed: Sep 13
Last Checked: Sep 14 at 5:06PM
MLS# 612162
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 property comprises two tenant-occupied residences totaling 2,608 square feet on 2.7717 acres. One manufactured home offers three bedrooms, two baths, two living areas, and bonus space within the primary suite. The second residence has two bedrooms and one bath and has been remodeled inside and out. Central air, electric heating, fireplaces, public sewer, and mixed roofing are among the reported property features.
The site is outside city limits at 6430 E US Highway 84 in Gatesville, with two entrances from the highway. Mature trees, perimeter fencing, and the broad acreage create separation between the homes. Mountain Water Supply has indicated availability for two additional water meters, subject to buyer verification. The property was built in 1965 and is located within reach of Waco, Temple, Killeen, and Fort Hood.
The site is outside city limits at 6430 E US Highway 84 in Gatesville, with two entrances from the highway. Mature trees, perimeter fencing, and the broad acreage create separation between the homes. Mountain Water Supply has indicated availability for two additional water meters, subject to buyer verification. The property was built in 1965 and is located within reach of Waco, Temple, Killeen, and Fort Hood.
Key Highlights
- Two tenant‑occupied residences totaling 2,608 square feet
- 2.7717‑acre tract with mature trees and perimeter fencing
- Manufactured home includes 3 bedrooms, 2 baths, and two living areas
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
$22,541
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
5.15%
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%
$450,820
$450.8K
Cap Rate 7%
$322,014
$322.0K
Cap Rate 9%
$250,456
$250.5K
Market Conditions
NOI Build-Up for 2,608 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
$34.4K $13.20/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$32.2K $12.35/SF
− OpEx
−$9.7K −$3.70/SF
NOI
$22.5K $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%
$450,820
Cap Rate 7%
$322,014
Cap Rate 9%
$250,456
Alternative Uses
Best Use
Multifamily LT 5
$322.0K
$281.8K – $375.7K
NOI $22,541 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$297.9K
$260.7K – $347.6K
NOI $20,855 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$626.4K
$548.1K – $730.8K
NOI $43,849 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
19
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied residences sit on a fenced tract with separate highway entrances and room for additional water connections.
Where is this duplex located?
The property is located at 6430 E US Highway 84 Gatesville, TX.
What is the asking price?
The asking price for this property is $437,500.
What are key features of this property?
This property features: Two tenant‑occupied residences totaling 2,608 square feet; 2.7717‑acre tract with mature trees and perimeter fencing; Manufactured home includes 3 bedrooms, 2 baths, and two living areas
