Occupied
New
For Sale
$320,000
1306 Chips, Killeen, TX 76549
Residential, Killeen, TX
Property Size2,580 SF
Lot Size0.18 Acres
Price / SF$124.03
Days on Market6
Property Features for 1306 Chips
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 5, Bedroom 6, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 4
Interior features
CeilingFans, KitchenDiningCombo
Appliances
Dishwasher, ElectricRange, Oven, Refrigerator
Subdivision
Killeen M & M 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
W Stan Schlueter Loop, Killeen, TX 76549 Turn right onto Saddle Ridge Dr about 0.1 mi, less than 1 min Turn right onto Chips Dr about 0.1 mi, less than 1 min You have arrived at Chips Dr. Your destination is on the left
Standard status
Active
APN
386959
Size
2,580 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
KILLEEN M & M ADDITION, BLOCK 001, LOT 0017
Tax Annual Amount
6552
Legal Description
KILLEEN M & M ADDITION, BLOCK 001, LOT 0017
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Armadillo Properties
(254) 547-0505
Listed By:
Denise Zehr · License #0417966
(254) 681-0282
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 13 at 4:06AM
MLS# 627324
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 2,580-square-foot duplex was built in 2007 and contains two residences, each arranged with three bedrooms and two bathrooms. Carpet is installed in the living areas and bedrooms, with tile in the kitchens and bathrooms. The building has brick construction, central heating and air conditioning, ceiling fans, and a kitchen-dining combination in each unit. Appliances include a dishwasher, electric range, oven, and refrigerator.
The property sits on a 0.1848-acre lot in Killeen. Fort Hood, local schools, shopping, and commuter routes are identified as nearby. Both units are currently occupied.
The property sits on a 0.1848-acre lot in Killeen. Fort Hood, local schools, shopping, and commuter routes are identified as nearby. Both units are currently occupied.
Key Highlights
- Two occupied units, each with 3 bedrooms and 2 bathrooms
- 2,580 square feet on a 0.1848‑acre lot
- Built in 2007 with brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,299
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,980
$446.0K
Cap Rate 7%
$318,557
$318.6K
Cap Rate 9%
$247,767
$247.8K
Market Conditions
NOI Build-Up for 2,580 SF
Gross rent
$34.1K $13.20/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$31.9K $12.35/SF
− OpEx
−$9.6K −$3.70/SF
NOI
$22.3K $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%
$445,980
Cap Rate 7%
$318,557
Cap Rate 9%
$247,767
Alternative Uses
Best Use
Multifamily LT 5
$318.6K
$278.7K – $371.7K
NOI $22,299 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$294.7K
$257.9K – $343.9K
NOI $20,631 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$619.7K
$542.2K – $723.0K
NOI $43,379 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
368
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with a three-bedroom, two-bathroom layout in each.
Where is this duplex located?
The property is located at 1306 Chips Killeen, TX.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two occupied units, each with 3 bedrooms and 2 bathrooms; 2,580 square feet on a 0.1848‑acre lot; Built in 2007 with brick construction
