Brick Fourplex with Two-Bedroom
For Sale
$350,000
1709 Cedarhill Drive, Killeen, TX 76543
Residential, Killeen, TX
Property Size3,180 SF
Lot Size0.64 Acres
Price / SF$110.06
Days on Market46
Property Features for 1709 Cedarhill Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 8, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4
Interior features
CeilingFans, EatInKitchen
Appliances
Dishwasher, ElectricRange, Refrigerator, WaterHeater, SomeElectricAppliances
Subdivision
Evening Hollow 3rd Ext
Lot features
City Lot, Less Than Quarter Acre
Elementary school
Hay Branch Elementary School
Middle school
Rancier Middle School
High school
Killeen High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From Hwy14 exit Stand Schluter and follow it to Martin Luther King, it will turn into Twin Creek keep following it all the way through to Rancier /FM 439, turn right and follow it up to turn left on Cedarhill.
Standard status
Active
APN
106024
Size
3,180 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
EVENING HOLLOW 3RD EXTENSION, BLOCK 012, LOT 0030
Legal Description
EVENING HOLLOW 3RD EXTENSION, BLOCK 012, LOT 0030
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1995
Floors in Building
2
Number of units
4
Flooring type
Carpet, Laminate
Building materials
Brick, Masonry
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Lone Star Realty & Property Ma
(254) 699-7003
Listed By:
Karen Doerbaum · License #0386068
(254) 290-0718
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 23 at 2:06PM
MLS# 618918
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.
Built in 1995, this 3,180-square-foot brick quadplex contains four units, each configured with 2 bedrooms, 1 bathroom, and approximately 795 square feet. Interior features include living rooms with ceiling fans, eat-in kitchens, and dedicated laundry closets with washer and dryer connections.
Each kitchen includes a double sink, dishwasher, stove, refrigerator, cabinets, countertops, and a window. Flooring includes carpet and laminate, while central electric heating and central air provide building systems for the units. The property occupies 0.6418 acres in Killeen, Texas, with public water and public sewer service. Shingle and composition roofing complete the improvements.
Each kitchen includes a double sink, dishwasher, stove, refrigerator, cabinets, countertops, and a window. Flooring includes carpet and laminate, while central electric heating and central air provide building systems for the units. The property occupies 0.6418 acres in Killeen, Texas, with public water and public sewer service. Shingle and composition roofing complete the improvements.
Key Highlights
- Four‑unit quadplex with 2 bedrooms and 1 bathroom per unit
- Each unit contains approximately 795 square feet
- 3,180‑square‑foot property on 0.6418 acres
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
7.85%
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 7.85%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.8K
NOI $25,429 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$763.8K
$668.3K – $891.1K
NOI $53,467 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Explore this area
Business Placement
Demographics for 76543, TX
30,545
Population
15,300
Households
2
Avg Household Size
30
Median Age
15%
College-Educated
91%
High-School Grad
35.6 sq mi
ZIP Area
858
Density / Sq Mi
$51,239
Median Household Income
$31,712
Median Earnings
$1,099
Median Rent
$140,700
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?
Quadplex - Four residential units include eat-in kitchens, dedicated laundry connections, and central heating and cooling.
Where is this quadplex located?
The property is located at 1709 Cedarhill Drive Killeen, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2 bedrooms and 1 bathroom per unit; Each unit contains approximately 795 square feet; 3,180‑square‑foot property on 0.6418 acres
