Three-Bedroom
For Sale
$359,999
4602 Cambridge Drive, Killeen, TX 76549
Residential, Killeen, TX
Property Size2,565 SF
Lot Size0.21 Acres
Price / SF$140.35
Days on Market172
Property Features for 4602 Cambridge Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Garage
Patio and Porch features
Porch, Patio
Interior features
Bookcases, CeilingFans, CofferedCeilings, TubShower, Vanity, WalkInClosets, KitchenDiningCombo, Pantry
Exterior features
CoveredPatio, Porch, PrivateYard
Appliances
Dishwasher, ExhaustFan, ElectricRange, ElectricWaterHeater, Disposal, Refrigerator, SomeElectricAppliances, Microwave, Range
Subdivision
Old 440 Village
Lot features
City Lot, Level, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From Hwy 14 exit Ft Hood Street and go south, Turn Right on Elms, Turn Left on Old FM 440, Turn right on Stealth Ln, Turn right on Ivory Ln, Turn left on Vanguard Ln, Turn left on Cambridge Drive, the property will be around the corner on your right.
Standard status
Active
APN
393324
Size
2,565 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OLD 440 VILLAGE, BLOCK 001, LOT 0033
Tax Annual Amount
6408
Legal Description
OLD 440 VILLAGE, BLOCK 001, LOT 0033
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2015
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick, Masonry, StoneVeneer
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Starpointe Realty Central Tx
(254) 213-3290
Listed By:
Linda Carey · License #0385889
(254) 289-8826
Added: Mar 27
Changed: Sep 13
Last Checked: Sep 14 at 12:06AM
MLS# 608672
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 2015, this duplex contains two matching residences, each with three bedrooms, two bathrooms, a kitchen-dining layout, pantry, walk-in closets, and a dedicated desk niche. Tile flooring runs throughout the interiors, while each unit is equipped with full kitchen appliances, window treatments, bathroom tub surrounds, and a built-in bookcase. Four-sided masonry construction combines brick, stone veneer, and masonry materials. Central electric heating and cooling serve both units.
The property encompasses 2,565 square feet on 0.2086 acres at 4602 Cambridge Drive in Killeen, within Bell County. Each residence includes a single-car garage, and the exterior offers a covered patio, porch, and private yard. Public water and public sewer serve the property.
The property encompasses 2,565 square feet on 0.2086 acres at 4602 Cambridge Drive in Killeen, within Bell County. Each residence includes a single-car garage, and the exterior offers a covered patio, porch, and private yard. Public water and public sewer serve the property.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 2‑bath residences
- 2,565 square feet on a 0.2086‑acre lot
- Built in 2015 with four‑sided masonry construction
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
$22,170
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
6.16%
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%
$443,400
$443.4K
Cap Rate 7%
$316,714
$316.7K
Cap Rate 9%
$246,333
$246.3K
Market Conditions
NOI Build-Up for 2,565 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
$33.9K $13.20/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$31.7K $12.35/SF
− OpEx
−$9.5K −$3.70/SF
NOI
$22.2K $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%
$443,400
Cap Rate 7%
$316,714
Cap Rate 9%
$246,333
Alternative Uses
Best Use
Multifamily LT 5
$316.7K
$277.1K – $369.5K
NOI $22,170 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$293.0K
$256.4K – $341.9K
NOI $20,511 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$616.1K
$539.1K – $718.8K
NOI $43,126 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
413
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
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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 - Both residences provide three bedrooms, two bathrooms, and a single-car garage.
Where is this duplex located?
The property is located at 4602 Cambridge Drive Killeen, TX.
What is the asking price?
The asking price for this property is $359,999.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom, 2‑bath residences; 2,565 square feet on a 0.2086‑acre lot; Built in 2015 with four‑sided masonry construction
