Duplex on Corner
For Sale
$270,000
2209 Wright Way, Killeen, TX 76543
MULTI_FAMILY - Other - Killeen, TX
Property Size2,187 SF
Lot Size0.29 Acres
Price / SF$123.46
Days on Market14
Property Features for 2209 Wright Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 4
Interior features
CeilingFans, KitchenDiningCombo
Appliances
Dishwasher, ElectricRange, SomeElectricAppliances
Subdivision
The Gardens Of Park North Phas
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
Westcliff to Wright Way. Duplex is on the corner
Standard status
Active
APN
196764
Size
2,187 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE GARDENS OF PARK NORTH PHASE FOUR, BLOCK 002, LOT 0004
Tax Annual Amount
6004
Legal Description
THE GARDENS OF PARK NORTH PHASE FOUR, BLOCK 002, LOT 0004
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1999
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Masonry
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Overall Realty, LLC
(254) 432-4509
Listed By:
Andrea C. Curtis · License #0376227
(254) 466-7083
Added: Jul 27
Changed: Aug 5
Last Checked: Aug 9 at 5:06AM
MLS# 620864
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 duplex investment property offers two separate living spaces, with each side featuring three bedrooms and two full bathrooms. Each unit also includes a 1-car garage and its own private fenced backyard, supporting tenant separation and outdoor privacy. The property’s interior includes ceiling fans and a kitchen-dining combo, with vinyl and tile flooring throughout. Appliances listed include a dishwasher and electric range, and the home is heated and cooled with electric HVAC and central air.
Constructed with masonry materials and a composition shingle roof, the duplex was built in 1999. It sits on a corner lot with 0.2938 acres, and the property size is listed as 2,187 square feet. Public water service is indicated.
The address is 2209 Wright Way in Killeen, Texas, located minutes from Fort Hood, shopping, dining, schools, and major roads. The layout is well-suited for investors seeking rental income or owner-occupants looking to live in one side while renting the other.
Constructed with masonry materials and a composition shingle roof, the duplex was built in 1999. It sits on a corner lot with 0.2938 acres, and the property size is listed as 2,187 square feet. Public water service is indicated.
The address is 2209 Wright Way in Killeen, Texas, located minutes from Fort Hood, shopping, dining, schools, and major roads. The layout is well-suited for investors seeking rental income or owner-occupants looking to live in one side while renting the other.
Key Highlights
- Corner lot duplex on 0.2938 acres
- Two units, each with 3 bedrooms and 2 full bathrooms
- Each unit includes a 1‑car garage
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
$18,902
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
7.00%
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%
$378,040
$378.0K
Cap Rate 7%
$270,029
$270.0K
Cap Rate 9%
$210,022
$210.0K
Market Conditions
NOI Build-Up for 2,187 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
$28.9K $13.20/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$27.0K $12.35/SF
− OpEx
−$8.1K −$3.70/SF
NOI
$18.9K $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%
$378,040
Cap Rate 7%
$270,029
Cap Rate 9%
$210,022
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.0K
NOI $18,902 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$249.8K
$218.6K – $291.5K
NOI $17,488 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$525.3K
$459.6K – $612.9K
NOI $36,771 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
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?
Duplex - Duplex built 1999 with two 3-bedroom, 2-bath units, each with a 1-car garage and private fenced backyard.
Where is this duplex located?
The property is located at 2209 Wright Way Killeen, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Corner lot duplex on 0.2938 acres; Two units, each with 3 bedrooms and 2 full bathrooms; Each unit includes a 1‑car garage
