Four-Unit
For Sale
$225,000
1105 Parmer Avenue, Killeen, TX 76541
Residential, Killeen, TX
Property Size2,320 SF
Lot Size0.13 Acres
Price / SF$96.98
Days on Market44
Property Features for 1105 Parmer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3
Interior features
KitchenDiningCombo
Appliances
ElectricRange, Oven, Refrigerator
Subdivision
Parmer
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
US-190 E Bus, Killeen, TX 76541 Leave from W Veterans Memorial Blvd/US-190 Bus E 0.5 mi, about 2 min Turn left onto N 10th St 0.4 mi, about 1 min Turn right onto Parmer Ave 0.3 mi, about 2 min You have arrived at Parmer Ave B 1105 Parmer Ave, Killeen, TX 76541
Standard status
Active
APN
48446
Size
2,320 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
PARMER, BLOCK 007, LOT 0054
Tax Annual Amount
6073
Legal Description
PARMER, BLOCK 007, LOT 0054
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Flooring type
Carpet, Laminate
Building materials
Brick
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Armadillo Properties
(254) 547-0505
Listed By:
Denise Zehr · License #0417966
(254) 681-0282
Added: Jul 16
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 619862
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 2,320-square-foot quadplex contains four separate one-bedroom, one-bath residences. Built in 1978, the property uses brick construction, composition and shingle roofing, central heating, and central air conditioning. Interior finishes include carpet and laminate flooring, while each residence includes a kitchen-dining combination with an electric range, oven, and refrigerator. Public water and public sewer serve the property.
The property is located at 1105 Parmer Avenue in Killeen, Texas, approximately 12 minutes from Fort Hood. Restaurants, fast-food establishments, shopping centers, grocery stores, and other daily services are identified within a 5-mile radius. The 0.1328-acre site provides a compact setting for the four-residence configuration.
The property is located at 1105 Parmer Avenue in Killeen, Texas, approximately 12 minutes from Fort Hood. Restaurants, fast-food establishments, shopping centers, grocery stores, and other daily services are identified within a 5-mile radius. The 0.1328-acre site provides a compact setting for the four-residence configuration.
Key Highlights
- Four 1‑bedroom, 1‑bath units within a 2,320‑square‑foot quadplex
- Built in 1978 on a 0.1328‑acre site
- Brick construction with composition and shingle roofing
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
$20,052
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
8.91%
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%
$401,040
$401.0K
Cap Rate 7%
$286,457
$286.5K
Cap Rate 9%
$222,800
$222.8K
Market Conditions
NOI Build-Up for 2,320 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
$30.6K $13.20/SF
− Vacancy
−$2.0K −$0.85/SF
EGI
$28.6K $12.35/SF
− OpEx
−$8.6K −$3.70/SF
NOI
$20.1K $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%
$401,040
Cap Rate 7%
$286,457
Cap Rate 9%
$222,800
Alternative Uses
Best Use
Multifamily LT 5
$286.5K
$250.7K – $334.2K
NOI $20,052 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$265.0K
$231.9K – $309.2K
NOI $18,552 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$557.2K
$487.6K – $650.1K
NOI $39,007 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,161
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Brick construction, central heating and cooling, and efficient one-bedroom layouts define this multifamily property.
Where is this quadplex located?
The property is located at 1105 Parmer Avenue Killeen, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units within a 2,320‑square‑foot quadplex; Built in 1978 on a 0.1328‑acre site; Brick construction with composition and shingle roofing
