Occupied
For Sale
$219,000
1203 Willow Springs Rd, Killeen, TX 76549
Three-unit residential income property with established occupancy and two long-term tenants.
Property Size2,109 SF
Price / SF$103.84
Days on Market72
Property Features for 1203 Willow Springs Rd
General Information
Standard status
Active
Size
2,109 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1976
Listing Agency:
Lone Star Realty & Property Ma
Listed By:
Matthew Doerbaum (254) 699-7003 · License #0787491
(254) 290-5259
Source:
Homeguidecentraltexas
Added: Jun 23
Changed: Sep 2
Last Checked: Sep 2 at 6:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lone Star Realty & Property Ma
Investment Insights
Based on property information with market context.
This three-unit multifamily property was built in 1976 and contains 2,109 square feet. The asset is fully occupied, with two units leased to long-term tenants. Its triplex configuration provides three residential units within a single income-producing property.
Located at 1203 Willow Springs Rd in Killeen, Texas, the property is offered for sale. The owner also has other properties on the market that may be bundled with this asset.
Located at 1203 Willow Springs Rd in Killeen, Texas, the property is offered for sale. The owner also has other properties on the market that may be bundled with this asset.
Key Highlights
- Three‑unit triplex configuration
- Fully occupied at the time of listing
- Two long‑term tenants
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
$18,228
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
8.32%
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%
$364,560
$364.6K
Cap Rate 7%
$260,400
$260.4K
Cap Rate 9%
$202,533
$202.5K
Market Conditions
NOI Build-Up for 2,109 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
$27.8K $13.20/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$26.0K $12.35/SF
− OpEx
−$7.8K −$3.70/SF
NOI
$18.2K $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%
$364,560
Cap Rate 7%
$260,400
Cap Rate 9%
$202,533
Alternative Uses
Best Use
Multifamily LT 5
$260.4K
$227.9K – $303.8K
NOI $18,228 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$240.9K
$210.8K – $281.1K
NOI $16,865 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$506.6K
$443.3K – $591.0K
NOI $35,460 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
131
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with established occupancy and two long-term tenants.
Where is this triplex located?
The property is located at 1203 Willow Springs Rd Killeen, TX.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; Fully occupied at the time of listing; Two long‑term tenants
