1103 E Leon St · Gatesville, TX 76528

$169,000

4 bd · 2.0 ba · 924 sqft · MultiFamily public records · 7 Days on market

Built 1984 6,229 sqft lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Income producing! Fully updated! Don’t miss this beautifully updated duplex in a desirable Gatesville neighborhood, conveniently located near shopping, dining, schools, and everyday amenities. Whether you’re looking to expand your investment portfolio or make a smart owner-occupied purchase, this property offers flexibility, functionality, and immediate income potential. Each unit features a well-designed 1-bedroom, 1-bathroom layout with updated finishes throughout, including luxury vinyl plank flooring, updated kitchens and bathrooms, and a newer roof. Thoughtful floor plans provide generous closet space, dedicated pantry storage, and private fenced yards for added outdoor enj

Key facts

• Updated duplex
• Updated bathrooms
• Updated kitchens

Tags

• UPDATED DUPLEX
• IMMEDIATE INCOME POTENTIAL
• UPDATED KITCHENS
• UPDATED BATHROOMS
• LUXURY VINYL PLANK FLOORING
• GENEROUS CLOSET SPACE

Property features AI

Finance

• Other: Parcel number 113894; Lot size approximately 0.143 acres
• Financial info: Property listed as residential income with 2 units; Gross annual income reported: $20,100; Gross annual expenses reported: $6,000; Net operating income reported: $14,000; Capitalization rate: 8.28%
• HOA & community: No association

Exterior

• Parking: Driveway parking
• Utilities: City water; City sewer; Cable available; Not in a municipal utility district
• Home design: Duplex (residential income); One level; Built in 1984
• Construction: Metal roof; Slab foundation; Construction materials: see remarks
• Exterior features: Driveway; Lot in Original Town subdivision

Interior

• Kitchen: Electric range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central electric air conditioning
• Interior features: Eat-in kitchen; Pantry

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive. Per door: $178/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 8.8% vs local median 3.9% in Gatesville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#702 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Gatesville ISD (town): math 38% / reading 42% proficiency, ranked #409 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gatesville El (math 42% / reading 47%, grade F, #1,155 of 4,322 statewide, top 29%, 611 students, 57% FRL).
• Market conditions: 222 active listings in the ZIP; 386 units permitted in Coryell County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-4,793
• Equity at exit: $25,198

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $24,855
• Equity at exit: $14,612

Cash invested: $47,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76528

• Home prices YoY: -24.2%
• Active inventory: 222
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $1,824 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$129 /mo · $1,550/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $355

Break-even live

Break-even rent $1,375

Max offer price $169,000

Occupancy floor 76%

Sensitivity live

Price	-10% $451	-5% $403	+0% $355	+5% $307	+10% $259
Rent	-10% $211	-5% $283	+0% $355	+5% $427	+10% $499
Rate	-1.0pp $440	-0.5pp $398	base $355	+0.5pp $311	+1.0pp $267

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,824
Total (2 units)			$1,824

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $169,000 Active 7 DOM
2. 2026-06-17
   days on market $169,000 Active 6 DOM
3. 2026-06-16
   days on market $169,000 Active 5 DOM
4. 2026-06-15
   days on market $169,000 Active 4 DOM
5. 2026-06-14
   days on market $169,000 Active 2 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $169,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,550 · $129/mo
• Projected year-2 tax: $3,093 · $258/mo
• Expected delta: +$1,542/yr (+$129/mo · 99.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,888
• − Mortgage interest: −$9,467
• − Property taxes: −$1,550
• − Insurance: −$845
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$4,916
• Taxable income: $1,607
• Est. tax owed @ 24.0%: −$386
• After-tax cash flow: $3,875/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Gatesville ISD
• NCES district ID: 4820500
• Math proficiency: 38% ▼ -3.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $47,114
• Composite: 34.21/100
• National rank: #5264
• State rank: #409 of 826 in TX

Livability — Gatesville

• Score: 65/100
• State rank: #702
• US rank: #13121

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment C- Housing A+ Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gatesville, TX
• County: Coryell County · 61,053 people
• City population: 18,935
• Metro: Killeen-Temple, TX
• Population (ZIP): 18,935
• Household income: $70,558
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 243.0

Population outlook (Coryell County) Hauer SSP2

• Today (2025): 75,485 people
• By 2030: 75,627 · +0.2%
• By 2040: 74,898 · -0.8%
• By 2050: 74,221 · -1.7%
• By 2075: 72,688 · -3.7%
• By 2100: 66,862 · -11.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 16% Two or more races 15% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Coryell

• 2024 margin: Solid R (+40.7) · D 29.1% · R 69.8% · Other 1.1%
• 2008→2024 swing: -13.8pp toward R · 2008: -26.9pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+33.5 2016: R+39.5 2012: R+36.6 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 206.6876
• Rent YoY: —
• Metro: Killeen-Temple, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+125.3% since first listed

9 events — show timeline

• 2026-06-11 Listed $169,000 NTREIS
• 2025-01-06 Sold (Public Records) — Public Records
• 2024-02-07 Sold (Public Records) — Public Records
• 2024-02-03 Pending — CTXMLS
• 2024-01-26 Contingent — CTXMLS
• 2024-01-02 Price Changed $75,000 CTXMLS
• 2023-11-08 Price Changed $85,000 CTXMLS
• 2023-11-06 Listed $75,000 CTXMLS
• 2022-02-24 Sold (Public Records) — Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,550 · +9.0% YoY. Source: county tax records.