Income-Generating
For Sale
$209,000
4802 Rainbow Circle, Killeen, TX 76543
MULTI_FAMILY - Ranch - Killeen, TX
Property Size1,550 SF
Lot Size0.23 Acres
Price / SF$134.84
Days on Market178
Property Features for 4802 Rainbow Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 2
Interior features
CeilingFans, EatInKitchen
Appliances
Dishwasher, Oven, Refrigerator, Range
Subdivision
Evening Hollow 3rd Ext
Lot features
Cul De Sac, City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Westcliff, R on Cedarhill, R on Rainbow. Property is at the end of the cul-de-sac.
Standard status
Active
APN
72892
Size
1,550 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
EVENING HOLLOW 3RD EXTENSION, BLOCK 012, LOT 0008
Tax Annual Amount
3079
Legal Description
EVENING HOLLOW 3RD EXTENSION, BLOCK 012, LOT 0008
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Brick, WoodSiding
Roof type
Shingle, Composition
Architectural style
Ranch
Listing Agency:
McG Homestead Rentals & Sales
(254) 415-7480
Listed By:
Lisa-Marie McGaughey · License #0661030
(330) 414-0959
Added: Feb 2
Changed: Jul 22
Last Checked: Jul 30 at 5:06PM
MLS# 603298
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 income-producing duplex contains two separate residential units. Each unit is configured with two bedrooms and one bathroom, with washer/dryer connections and access to a separate fenced-in yard area. Both units also include a dedicated storage room for tenant convenience. The property has a new roof installed in 2025 and is currently tenant-occupied.
The duplex is located on a cul-de-sac at 4802 Rainbow Circle in Killeen, in Bell County, Texas.
The site totals approximately 0.231 acres and the building totals approximately 1,550 square feet.
The duplex is located on a cul-de-sac at 4802 Rainbow Circle in Killeen, in Bell County, Texas.
The site totals approximately 0.231 acres and the building totals approximately 1,550 square feet.
Key Highlights
- Income‑producing duplex built in 1985 with two units, each featuring 2 bedrooms and 1 bathroom
- New roof installed in 2025
- Each unit has washer/dryer connections and a dedicated storage room
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.5k | $13.20 |
| − Vacancy | −$1.3k | −$0.85 |
| EGI | $19.1k | $12.35 |
| − OpEx | −$5.7k | −$3.70 |
| NOI | $13.4k | $8.64 |
1,550 SF · lease $13.20/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$191.4K
$167.5K – $223.3K
NOI $13,397 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$177.1K
$154.9K – $206.6K
NOI $12,395 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$372.3K
$325.8K – $434.4K
NOI $26,061 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
150
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 - Well-maintained duplex offers two units with two bedrooms and one bathroom each, plus washer/dryer connections and fenced yard access.
Where is this duplex located?
The property is located at 4802 Rainbow Circle Killeen, TX.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Income‑producing duplex built in 1985 with two units, each featuring 2 bedrooms and 1 bathroom; New roof installed in 2025; Each unit has washer/dryer connections and a dedicated storage room
