Income Duplex Property with Highway
For Sale
$437,500
6430 E US Highway 84, Gatesville, TX 76528
MULTI_FAMILY - Other - Gatesville, TX
Property Size2,608 SF
Lot Size2.77 Acres
Price / SF$167.75
Days on Market93
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
Fireplace(s), Electric (Heating), Central
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: Jul 18
Last Checked: Jul 30 at 4:06PM
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.
Income-producing duplex property set on 2.77 acres with a perimeter fence and two separate entrances along a major highway. The current setup includes two tenant-occupied residences providing immediate rental income: a manufactured home with 3 bedrooms, 2 baths, two living areas, and a bonus space in the primary suite; and a remodeled 2-bedroom, 1-bath residence with updates inside and out.
Water availability is a key growth factor, as Mountain Water Supply has indicated availability for two additional water meters (buyer to verify). The property is outside city limits, yet minutes from Gatesville, with practical access toward Waco, Temple, Killeen, and Fort Hood.
Owner financing may be available with approved credit. The acreage and layout support flexibility for added rental units or future development, subject to buyer due diligence and verification of utility capacity.
Water availability is a key growth factor, as Mountain Water Supply has indicated availability for two additional water meters (buyer to verify). The property is outside city limits, yet minutes from Gatesville, with practical access toward Waco, Temple, Killeen, and Fort Hood.
Owner financing may be available with approved credit. The acreage and layout support flexibility for added rental units or future development, subject to buyer due diligence and verification of utility capacity.
Key Highlights
- Income‑producing property on 2.77 acres with excellent highway frontage and two tenant‑occupied homes for immediate rental income
- Manufactured home: 3 beds, 2 baths, two living areas, bonus space in primary suite; currently leased for $1,400/month
- Remodeled residence: 2 beds, 1 bath; updated inside and out; currently leased for $1,300/month
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.4k | $13.20 |
| − Vacancy | −$2.2k | −$0.85 |
| EGI | $32.2k | $12.35 |
| − OpEx | −$9.7k | −$3.70 |
| NOI | $22.5k | $8.64 |
2,608 SF · lease $13.20/SF/yr · vacancy 6.46% · expense 30.00%
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
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
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
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 tenant-occupied homes on 2.77 acres with perimeter fencing and two separate entrances along a major highway.
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: Income‑producing property on 2.77 acres with excellent highway frontage and two tenant‑occupied homes for immediate rental income; Manufactured home: 3 beds, 2 baths, two living areas, bonus space in primary suite; currently leased for $1,400/month; Remodeled residence: 2 beds, 1 bath; updated inside and out; currently leased for $1,300/month
