Fenced Duplex Near Lions
For Sale
$300,000
1305 Nicholas Circle, Killeen, TX 76542
2005-built duplex with separate garages, fenced outdoor space, and one vacant side available for occupancy.
Property Size2,482 SF
Price / SF$120.87
Days on Market277
Property Features for 1305 Nicholas Circle
General Information
Standard status
Active
Size
2,482 SF
Property subtype
Duplex
Amenities
Central Air, Electric, Ceiling Fan(s)
3
Ceramic Tile, Carpet
Walk-in Closets, Pantry, Washer Hook Ups, Internet Connection, Cable Available, Laminate Counter, Window Treatment
Dishwasher, Disposal, Electric Appliances, Range, Electric Range/Cooktop, Refrigerator, Range Hood, Electric Dryer
Alarm -Smoke/Fire
Double Pane
Composition, Shingle
Privacy Fence, Rear, Chain Link
Patio, Porch, Covered
Fenced Yard.
1 Garage Spaces.
Brick, Brick Trim/Veneer, Lap
70 x 137
Park, Back Yard. Curbs Walk, City Road, None.
Building Details
Year Built
2005
Stories
1
Listing Agency:
Coldwell Banker Realty
(254) 200-3800
Listed By:
Vernon MacHardy · License #0433118
(254) 200-3800
Source:
Xome
Added: Nov 27, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:03PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 2005, this duplex offers three bedrooms, two bathrooms, and a one-car garage on each side. Interior features include walk-in closets, double vanities, a garden shower and tub combination in each primary bathroom, separate dining areas, ceiling fans, ceramic tile in key service areas, carpet, and washer hookups. Garage door openers, kitchen appliances, pantry storage, and a hallway computer desk add practical functionality.
The property sits on a 70 x 137 lot in Killeen, within walking distance of Lions Park and near Trimmier Road and Stan Schlueter Loop. Outdoor improvements include a covered patio or porch and a fenced rear yard with a wooden privacy fence and a chain-link divider. The property has had one owner, and Apt A is vacant with a combo lock box.
The property sits on a 70 x 137 lot in Killeen, within walking distance of Lions Park and near Trimmier Road and Stan Schlueter Loop. Outdoor improvements include a covered patio or porch and a fenced rear yard with a wooden privacy fence and a chain-link divider. The property has had one owner, and Apt A is vacant with a combo lock box.
Key Highlights
- 3 bedrooms, 2 baths, and 1‑car garage per side
- Built in 2005 and held by one owner
- Apt A is vacant with a combo lock box
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - 2005-built duplex with separate garages, fenced outdoor space, and one vacant side available for occupancy.
Where is this duplex located?
The property is located at 1305 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: 3 bedrooms, 2 baths, and 1‑car garage per side; Built in 2005 and held by one owner; Apt A is vacant with a combo lock box
