Duplex with Updated
For Sale
$145,000
908 Wells Street, Killeen, TX 76541
Residential, Killeen, TX
Property Size1,353 SF
Lot Size0.24 Acres
Price / SF$107.17
Days on Market148
Property Features for 908 Wells Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4
Interior features
CeilingFans
Appliances
Refrigerator, SomeElectricAppliances, Cooktop
Subdivision
Killeen Heights North Unit 1st
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
W Rancier Ave to N Gilmer St, left on Wells St.
Standard status
Active
APN
4421
Size
1,353 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KILLEEN HEIGHTS NORTH UNIT 1ST SECTION REVISED, BLOCK 005, LOT 0004, CRESTVIEW APTS
Tax Annual Amount
2068
Legal Description
KILLEEN HEIGHTS NORTH UNIT 1ST SECTION REVISED, BLOCK 005, LOT 0004, CRESTVIEW APTS
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
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: Apr 27
Changed: Sep 15
Last Checked: Sep 21 at 9:06PM
MLS# 611966
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 contains two occupied units within a 1,353-square-foot residential property built in 1955. The ranch-style building features wood siding, vinyl flooring, ceiling fans, refrigerators, cooktops, and select electric appliances. HVAC equipment and water heaters are 3 years old, electrical wiring was updated 3 years ago and is not aluminum, and cast iron plumbing was replaced in 2025.
The property occupies 0.2389 acres at 908 Wells Street in Killeen, Texas. Public water and public sewer serve the property. The address is near shopping, schools, and Fort Hood, providing an established surrounding context for this duplex asset.
The property occupies 0.2389 acres at 908 Wells Street in Killeen, Texas. Public water and public sewer serve the property. The address is near shopping, schools, and Fort Hood, providing an established surrounding context for this duplex asset.
Key Highlights
- Two‑unit duplex with both units occupied
- 1,353 square feet on 0.2389 acres
- HVAC and water heaters are 3 years old
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
$11,694
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
8.06%
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%
$233,880
$233.9K
Cap Rate 7%
$167,057
$167.1K
Cap Rate 9%
$129,933
$129.9K
Market Conditions
NOI Build-Up for 1,353 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
$17.9K $13.20/SF
− Vacancy
−$1.2K −$0.85/SF
EGI
$16.7K $12.35/SF
− OpEx
−$5.0K −$3.70/SF
NOI
$11.7K $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%
$233,880
Cap Rate 7%
$167,057
Cap Rate 9%
$129,933
Alternative Uses
Best Use
Multifamily LT 5
$167.1K
$146.2K – $194.9K
NOI $11,694 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$154.6K
$135.2K – $180.3K
NOI $10,819 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$325.0K
$284.4K – $379.2K
NOI $22,749 @ 7.0% cap · market cap 15.69%
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
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
Median Home Value
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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 - Two occupied units with public water and sewer service, vinyl flooring, and wood siding.
Where is this duplex located?
The property is located at 908 Wells Street Killeen, TX.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two‑unit duplex with both units occupied; 1,353 square feet on 0.2389 acres; HVAC and water heaters are 3 years old
