Duplex with New
For Sale
$259,900
1207 Wales Drive, Killeen, TX 76549
Residential, Killeen, TX
Property Size2,424 SF
Lot Size0.19 Acres
Price / SF$107.22
Days on Market184
Property Features for 1207 Wales Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Interior features
CeilingFans
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, ElectricRange, Disposal, Refrigerator, Range
Subdivision
Hood View Add
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Willow Springs exit, right on Wales Drive, duplex on the right
Standard status
Active
APN
109395
Size
2,424 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOOD VIEW ADDITION, BLOCK 004, LOT 0011
Tax Annual Amount
5441
Legal Description
HOOD VIEW ADDITION, BLOCK 004, LOT 0011
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
BrickVeneer
Roof type
Composition, Shingle
Listing Agency:
Soldiers of Real Estate
(254) 618-5140
Listed By:
Steven Darden · License #0477241
(254) 458-4668
Added: Apr 3
Changed: Sep 16
Last Checked: Oct 3 at 5:06AM
MLS# 609581
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 2,424 square feet across two residential units. Unit A offers 3 bedrooms, 2 bathrooms, a living-room fireplace, and current vacancy. Unit B includes 2 bedrooms and 1 bathroom and is currently leased. Each unit has a 1-car garage and a private fenced backyard. The property also features a single water meter, central heating and cooling, ceiling fans, tile flooring, brick veneer construction, and public water and sewer service.
Built in 1976, the property sits on a 0.186-acre lot in Killeen, Texas. A new roof was installed in January 2025. Interior appliances include dishwashers, electric ranges, disposals, refrigerators, and ranges, with privacy fencing serving the outdoor areas.
Built in 1976, the property sits on a 0.186-acre lot in Killeen, Texas. A new roof was installed in January 2025. Interior appliances include dishwashers, electric ranges, disposals, refrigerators, and ranges, with privacy fencing serving the outdoor areas.
Key Highlights
- 2,424‑square‑foot duplex on a 0.186‑acre lot
- Unit A: 3 bedrooms, 2 bathrooms, fireplace, and current vacancy
- Unit B: 2 bedrooms, 1 bathroom, and current tenancy
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
$20,951
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%
$419,020
$419.0K
Cap Rate 7%
$299,300
$299.3K
Cap Rate 9%
$232,789
$232.8K
Market Conditions
NOI Build-Up for 2,424 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
$32.0K $13.20/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$29.9K $12.35/SF
− OpEx
−$9.0K −$3.70/SF
NOI
$21.0K $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%
$419,020
Cap Rate 7%
$299,300
Cap Rate 9%
$232,789
Alternative Uses
Best Use
Multifamily LT 5
$299.3K
$261.9K – $349.2K
NOI $20,951 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$276.9K
$242.3K – $323.1K
NOI $19,384 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$582.2K
$509.5K – $679.3K
NOI $40,756 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
118
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
View Realmo Analytics
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 - Two-unit property with separate garages, fenced backyards, and one vacant unit available for occupancy.
Where is this duplex located?
The property is located at 1207 Wales Drive Killeen, TX.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 2,424‑square‑foot duplex on a 0.186‑acre lot; Unit A: 3 bedrooms, 2 bathrooms, fireplace, and current vacancy; Unit B: 2 bedrooms, 1 bathroom, and current tenancy
