Ranch Duplex with Fenced
For Sale
$300,000
1303 Nicholas Circle, Killeen, TX 76542
Residential, Killeen, TX
Property Size2,482 SF
Lot Size0.22 Acres
Price / SF$120.87
Days on Market181
Property Features for 1303 Nicholas Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking features
Open, Garage
Patio and Porch features
Patio
Interior features
CeilingFans, DoubleVanity, GardenTubRomanTub, LaminateCounters, TubShower, WalkInClosets, WindowTreatments, BreakfastArea, KitchenDiningCombo, Pantry
Exterior features
CoveredPatio
Fencing
Privacy
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, RangeHood, WaterHeater, SomeElectricAppliances, Range
Subdivision
Kingwood Estates
Lot features
City Lot, Level, Sprinklers In Ground, Less Than Quarter Acre
Elementary school
Saegert Elementary School
Middle school
Liberty Hill Middle School
High school
Ellison High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From I-14: South On Trimmier Road, Cross Over Stan Schuleter Loop; Left On Nicholas Circle.
Standard status
Active
APN
365971
Size
2,482 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KINGWOOD ESTATES, BLOCK 001, LOT 0016
Tax Annual Amount
6025
Legal Description
KINGWOOD ESTATES, BLOCK 001, LOT 0016
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick, BrickVeneer, LapSiding, Masonry
Roof type
Composition, Shingle
Architectural style
Ranch
Listing Agency:
Coldwell Banker Realty
(254) 200-3800
Listed By:
Vernon MacHardy · License #0433118
(254) 289-5905
Added: Feb 28
Changed: Aug 20
Last Checked: Aug 28 at 11:06AM
MLS# 605955
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.
Built in 2005, this 2,482-square-foot ranch duplex contains two residences, each offering 3 bedrooms, 2 baths, and a 1-car garage. Interior details include walk-in closets, double vanities, garden tub and shower combinations, ceiling fans, pantry storage, and ceramic tile in the foyer, kitchen, bathrooms, and laundry rooms. Each side also includes a separate dining area and a computer desk near the hallway. Garage door openers, central electric heating and cooling, public water, and public sewer support daily use. The rear yard is enclosed with a wooden privacy fence, with chain-link fencing dividing the two sides. Both units are rented. The property is located in Killeen’s South-Central community, within walking distance of Lions Park and near Trimmier Road.
Key Highlights
- Two‑unit duplex with 3 bedrooms, 2 baths, and a 1‑car garage per side
- 2,482 square feet on a 0.2202‑acre lot
- Built in 2005 with ranch‑style construction
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
$21,452
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
7.15%
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%
$429,040
$429.0K
Cap Rate 7%
$306,457
$306.5K
Cap Rate 9%
$238,356
$238.4K
Market Conditions
NOI Build-Up for 2,482 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
$32.8K $13.20/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$30.6K $12.35/SF
− OpEx
−$9.2K −$3.70/SF
NOI
$21.5K $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%
$429,040
Cap Rate 7%
$306,457
Cap Rate 9%
$238,356
Alternative Uses
Best Use
Multifamily LT 5
$306.5K
$268.2K – $357.5K
NOI $21,452 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$283.5K
$248.1K – $330.8K
NOI $19,847 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$596.2K
$521.6K – $695.5K
NOI $41,731 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 76542, TX
53,312
Population
21,027
Households
2.5
Avg Household Size
32
Median Age
29%
College-Educated
94%
High-School Grad
63.0 sq mi
ZIP Area
846
Density / Sq Mi
$72,891
Median Household Income
$42,506
Median Earnings
$1,237
Median Rent
$228,500
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?
Duplex - Two well-appointed residences feature garage parking, defined dining areas, and a fenced backyard with separate outdoor space.
Where is this duplex located?
The property is located at 1303 Nicholas Circle Killeen, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms, 2 baths, and a 1‑car garage per side; 2,482 square feet on a 0.2202‑acre lot; Built in 2005 with ranch‑style construction
