Updated
For Sale
$365,000
1113 Horizon Drive, Killeen, TX 76549
Residential, Killeen, TX
Property Size3,180 SF
Lot Size0.25 Acres
Price / SF$114.78
Days on Market9
Property Features for 1113 Horizon Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bedroom 8, Bedroom 7, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 1, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 4
Interior features
WalkInClosets, BreakfastArea
Appliances
Dishwasher, ElectricRange, Refrigerator
Subdivision
Sunrise Vista
Lot features
City Lot, Level
Elementary school
Willow Springs Elementary School
Middle school
Palo Alto Middle School
High school
Shoemaker High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From W Stan Schlueter Loop, turn north onto Old FM 440 Rd. Turn right onto Horizon Dr. Property will be on the left.
Standard status
Active
APN
187712
Size
3,180 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
SUNRISE VISTA, BLOCK 001, LOT 0002
Tax Annual Amount
5363
Legal Description
SUNRISE VISTA, BLOCK 001, LOT 0002
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
central HVAC
washer/dryer connections
Building Details
Year built
1997
Floors in Building
2
Number of units
4
Flooring type
Tile, Carpet
Building materials
Brick, Frame
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Nw
(512) 346-3550
Listed By:
Fernand Tolentino · License #0530396
(512) 669-9000
Added: Sep 25
Changed: Oct 2
Last Checked: Oct 3 at 5:06AM
MLS# 625472
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 fourplex contains four two-bedroom, one-bath residences, each measuring approximately 800 square feet, with 3,180 square feet of building area overall. The brick property was built in 1997 and includes central HVAC, appliances and washer/dryer connections. It sits on an approximately 0.2477-acre lot.
Capital improvements include a roof replacement in 2022, two new air-conditioning units installed in 2023 and 2024, and a water heater replaced in 2023. LVP flooring and a full repaint were completed in 2022; some units also received new stoves and refrigerators. The property is a short walk from an H-E-B grocery store.
Capital improvements include a roof replacement in 2022, two new air-conditioning units installed in 2023 and 2024, and a water heater replaced in 2023. LVP flooring and a full repaint were completed in 2022; some units also received new stoves and refrigerators. The property is a short walk from an H-E-B grocery store.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom; approximately 800 square feet per unit
- Fully occupied fourplex with 3,180 square feet of building area
- Approximately 0.2477‑acre lot with brick exterior
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
$27,485
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
7.53%
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%
$549,700
$549.7K
Cap Rate 7%
$392,643
$392.6K
Cap Rate 9%
$305,389
$305.4K
Market Conditions
NOI Build-Up for 3,180 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
$42.0K $13.20/SF
− Vacancy
−$2.7K −$0.85/SF
EGI
$39.3K $12.35/SF
− OpEx
−$11.8K −$3.70/SF
NOI
$27.5K $8.64/SF
Area
Killeen, 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%
$549,700
Cap Rate 7%
$392,643
Cap Rate 9%
$305,389
Alternative Uses
Best Use
Multifamily LT 5
$392.6K
$343.6K – $458.1K
NOI $27,485 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.8K
NOI $25,429 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$763.8K
$668.3K – $891.1K
NOI $53,467 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 76549, TX
56,199
Population
21,794
Households
2.6
Avg Household Size
29
Median Age
23%
College-Educated
95%
High-School Grad
94.1 sq mi
ZIP Area
597
Density / Sq Mi
$62,536
Median Household Income
$36,340
Median Earnings
$1,363
Median Rent
$202,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied units offer two-bedroom layouts, central HVAC, appliances and washer/dryer connections.
Where is this quadplex located?
The property is located at 1113 Horizon Drive Killeen, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; approximately 800 square feet per unit; Fully occupied fourplex with 3,180 square feet of building area; Approximately 0.2477‑acre lot with brick exterior
