2-Unit Duplex with Private
New
For Sale
$255,000
1305 Covey Lane, Killeen, TX 76542
Residential, Killeen, TX
Property Size2,168 SF
Lot Size0.22 Acres
Price / SF$117.62
Days on Market3
Property Features for 1305 Covey Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Interior features
CeilingFans, BreakfastBar, BreakfastArea
Appliances
Dishwasher, ElectricCooktop, MultipleWaterHeaters, Microwave, Refrigerator, BuiltInOven
Subdivision
Quail Run Estates
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From I-14, head south on Trimmier, turn left on Bacon Ranch Road, then turn right on Covey Lane.
Special listing conditions
Short Sale
Standard status
Active
APN
66371
Size
2,168 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
QUAIL RUN ESTATES, BLOCK 002, LOT 0006
Tax Annual Amount
5539
Legal Description
QUAIL RUN ESTATES, BLOCK 002, LOT 0006
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
range
built-in microwave
dishwasher
washer and dryer connections
tile flooring
private front patio
Building Details
Year built
2010
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
Brick, HardiplankType
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
eXp Realty - Austin
(888) 519-7431
Listed By:
Nikita Hendricks · License #0741330
(469) 604-6767
Added: Oct 26
Last Checked: Oct 28 at 10:06AM
MLS# 628641
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.
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Investment Insights
Based on property information with market context.
Built in 2010, this duplex contains two residences with a combined 2,168 square feet. Each unit has two bedrooms and two bathrooms, along with a separate kitchen, dining space, and living room. Dishwashers, built-in microwaves, and washer and dryer connections are provided in both units. Each residence also has a private patio at the front of the building.
The property occupies a 0.2217-acre lot and is served by public water and public sewer. Its two-unit configuration offers separate living spaces within one residential property.
The property occupies a 0.2217-acre lot and is served by public water and public sewer. Its two-unit configuration offers separate living spaces within one residential property.
Key Highlights
- Two units, each with 2 bedrooms and 2 bathrooms
- 2,168 square feet of building area on 0.2217 acres
- Built in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,738
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,760
$374.8K
Cap Rate 7%
$267,686
$267.7K
Cap Rate 9%
$208,200
$208.2K
Market Conditions
NOI Build-Up for 2,168 SF
Gross rent
$28.6K $13.20/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$26.8K $12.35/SF
− OpEx
−$8.0K −$3.70/SF
NOI
$18.7K $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 Rate 5%
$374,760
Cap Rate 7%
$267,686
Cap Rate 9%
$208,200
Alternative Uses
Best Use
Multifamily LT 5
$267.7K
$234.2K – $312.3K
NOI $18,738 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$247.7K
$216.7K – $289.0K
NOI $17,337 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$520.7K
$455.7K – $607.5K
NOI $36,452 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own kitchen, dining area, living room, and laundry connections.
Where is this duplex located?
The property is located at 1305 Covey Lane Killeen, TX.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 2 bathrooms; 2,168 square feet of building area on 0.2217 acres; Built in 2010
