Contemporary Duplex with Fenced
For Sale
$288,000
3311 Alicante Court, Killeen, TX 76542
Residential, Killeen, TX
Property Size1,954 SF
Lot Size0.53 Acres
Price / SF$147.39
Days on Market109
Property Features for 3311 Alicante Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Interior features
CeilingFans, PullDownAtticStairs, TubShower, Vanity, WalkInClosets, EatInKitchen
Appliances
Dishwasher, ElectricRange, Refrigerator, RangeHood, WaterHeater, SomeElectricAppliances, Range
Subdivision
Loma Vista Estates Ph Four
Lot features
Cul De Sac, City Lot, Irregular Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Elms Rd turn on Florence Rd, left on Granada Dr, left on Alicante Ct.
Standard status
Active
APN
368886
Size
1,954 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOMA VISTA ESTATES PHASE FOUR, BLOCK 002, LOT 0005
Tax Annual Amount
5344
Legal Description
LOMA VISTA ESTATES PHASE FOUR, BLOCK 002, LOT 0005
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
large fenced back yard
washer & dryer connections
Building Details
Year built
2006
Floors in Building
1
Number of units
1
Flooring type
Tile, Carpet
Building materials
BrickVeneer, Masonry
Roof type
Composition, Shingle
Architectural style
Contemporary
Listing Agency:
Longhorn Properties
(254) 526-0382
Listed By:
Lennox Alfred · License #0444634
(254) 535-5382
Added: May 29
Changed: Sep 14
Last Checked: Sep 14 at 6:06PM
MLS# 615226
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 2006, this contemporary duplex contains 1,954 square feet across two matching residences. Each unit provides three bedrooms, two bathrooms, an open-concept living arrangement, an eat-in kitchen, and ample closet storage. Kitchens include appliances, while washer and dryer connections add practical utility. Interior finishes include tile and carpet, with ceiling fans and walk-in closets among the additional features. The property also includes a one-car garage and a large fenced backyard.
Set on 0.5273 acres at the end of a cul-de-sac in Killeen, the property has public water and public sewer service. Schools, shopping, and Fort Hood are identified nearby, adding established daily-use destinations to the surrounding context.
Set on 0.5273 acres at the end of a cul-de-sac in Killeen, the property has public water and public sewer service. Schools, shopping, and Fort Hood are identified nearby, adding established daily-use destinations to the surrounding context.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 1,954 square feet on 0.5273 acres
- Open floor plans with eat‑in kitchens and appliances
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
$16,889
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
5.86%
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%
$337,780
$337.8K
Cap Rate 7%
$241,271
$241.3K
Cap Rate 9%
$187,656
$187.7K
Market Conditions
NOI Build-Up for 1,954 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
$25.8K $13.20/SF
− Vacancy
−$1.7K −$0.85/SF
EGI
$24.1K $12.35/SF
− OpEx
−$7.2K −$3.70/SF
NOI
$16.9K $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%
$337,780
Cap Rate 7%
$241,271
Cap Rate 9%
$187,656
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.1K – $281.5K
NOI $16,889 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$223.2K
$195.3K – $260.4K
NOI $15,625 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$469.3K
$410.7K – $547.6K
NOI $32,853 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
570
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences feature open layouts, equipped kitchens, fenced outdoor space, and washer and dryer connections.
Where is this duplex located?
The property is located at 3311 Alicante Court Killeen, TX.
What is the asking price?
The asking price for this property is $288,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 1,954 square feet on 0.5273 acres; Open floor plans with eat‑in kitchens and appliances
