Updated Duplex on Corner
For Sale
$335,000
1900 Elms Run Court, Killeen, TX 76542
MULTI_FAMILY - Other - Killeen, TX
Property Size2,470 SF
Lot Size0.24 Acres
Price / SF$135.63
Days on Market56
Property Features for 1900 Elms Run Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Interior features
CeilingFans, DoubleVanity, SplitBedrooms, KitchenDiningCombo, Pantry
Fencing
Privacy
Appliances
Dishwasher, ElectricCooktop, Microwave, Refrigerator, SomeElectricAppliances, Cooktop
Subdivision
Elms Run Add Ph One
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From WS Young Dr, turn onto Elms Rd heading east. Continue straight on Elms Rd until you reach Elms Run Dr. Turn left onto Elms Run Dr, then follow the curve and turn right onto Elms Run Ct. Property will be on your left
Standard status
Active
APN
385200
Size
2,470 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
ELMS RUN ADDITION PHASE ONE, BLOCK 003, LOT 0014
Tax Annual Amount
6252
Legal Description
ELMS RUN ADDITION PHASE ONE, BLOCK 003, LOT 0014
Utilities
Water source
Public
Amenities
fenced backyard
Building Details
Year built
2008
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Michelle Johnson · License #0787405
(254) 535-4195
Added: Jun 15
Changed: Jul 30
Last Checked: Aug 9 at 5:06AM
MLS# 616938
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 updated duplex is positioned on a corner lot and built with brick construction, offering two separate residential units. Each unit features three bedrooms, two full bathrooms, and a one-car garage, with layouts designed around everyday functionality. Interior finishes include vinyl flooring and tile throughout with no carpet, and interior features such as ceiling fans, double vanity, split bedrooms, a kitchen-dining combo, and a pantry.
The property includes privacy fencing and private fully fenced backyards for each unit. One unit is currently vacant and move-in ready, while the remaining unit’s lease is nearing completion, supporting flexibility for an owner-occupant scenario, tenant placement, or continued investment use.
Additional property details include a composition shingle roof and public water service. Built in 2008, the duplex offers VA and FHA eligibility.
The property includes privacy fencing and private fully fenced backyards for each unit. One unit is currently vacant and move-in ready, while the remaining unit’s lease is nearing completion, supporting flexibility for an owner-occupant scenario, tenant placement, or continued investment use.
Additional property details include a composition shingle roof and public water service. Built in 2008, the duplex offers VA and FHA eligibility.
Key Highlights
- Updated duplex on a corner lot with privacy fencing and private fully fenced backyards
- Each unit has 3 bedrooms and 2 full bathrooms plus a 1‑car garage
- No carpet: vinyl flooring and tile throughout in both units
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
$21,348
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
6.37%
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%
$426,960
$427.0K
Cap Rate 7%
$304,971
$305.0K
Cap Rate 9%
$237,200
$237.2K
Market Conditions
NOI Build-Up for 2,470 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
$32.6K $13.20/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$30.5K $12.35/SF
− OpEx
−$9.1K −$3.70/SF
NOI
$21.3K $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%
$426,960
Cap Rate 7%
$304,971
Cap Rate 9%
$237,200
Alternative Uses
Best Use
Multifamily LT 5
$305.0K
$266.9K – $355.8K
NOI $21,348 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$282.2K
$246.9K – $329.2K
NOI $19,752 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$593.3K
$519.1K – $692.2K
NOI $41,529 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 76542, TX
53,312
Population
21,027
Households
2.5
Avg Household Size
32
Median Age
29%
College-Educated
94%
High-School Grad
63.0 sq mi
ZIP Area
846
Density / Sq Mi
$72,891
Median Household Income
$42,506
Median Earnings
$1,237
Median Rent
$228,500
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?
Duplex - Updated duplex with private fenced backyards, vinyl plank and tile flooring, and one unit vacant for move-in readiness.
Where is this duplex located?
The property is located at 1900 Elms Run Court Killeen, TX.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Updated duplex on a corner lot with privacy fencing and private fully fenced backyards; Each unit has 3 bedrooms and 2 full bathrooms plus a 1‑car garage; No carpet: vinyl flooring and tile throughout in both units
