Updated Fourplex with Washer
For Sale
$425,000
1113 Horizon Drive, Killeen, TX 76549
Four two-bedroom residences include private laundry hookups, ceiling fans, and access to recent interior and exterior improvements.
Property Size3,180 SF
Price / SF$133.65
Days on Market1310
Property Features for 1113 Horizon Drive
General Information
Standard status
Active
Size
3,180 SF
Property subtype
Commercial Sale / Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,841
Amenities
ceiling fans
in-unit washer/dryer connections
Building Details
Year Built
1997
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Jay Jay Tolentino · License #0530396
(512) 669-9000
Source:
Compass
Added: Feb 1, 2023
Changed: Sep 3
Last Checked: Sep 2 at 11:26PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 3,180 SF fourplex, built in 1997, contains four residences with two bedrooms and one bathroom per unit. Each unit includes ceiling fans and washer and dryer connections. Property improvements include a roof replacement completed in 2022, heavy-duty LVP flooring, fresh paint, some new appliances, and one new HVAC unit.
The property is located at 1113 Horizon Drive in Killeen, with H-E-B grocery store a one-minute walk away. Walmart, Chili’s, Applebee’s, Willow Springs Elementary, Palo Alto Middle, Shoemaker High, Lions Club Park, and Long Branch Park are also identified nearby. The fourplex has been continuously rented since 2021 and is positioned near Fort Hood.
The property is located at 1113 Horizon Drive in Killeen, with H-E-B grocery store a one-minute walk away. Walmart, Chili’s, Applebee’s, Willow Springs Elementary, Palo Alto Middle, Shoemaker High, Lions Club Park, and Long Branch Park are also identified nearby. The fourplex has been continuously rented since 2021 and is positioned near Fort Hood.
Key Highlights
- 3,180 SF fourplex with four 2‑bedroom, 1‑bath units
- Roof replaced in 2022
- Heavy‑duty LVP flooring, fresh paint, and some new appliances
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
$27,485
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
6.47%
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%
$549,700
$549.7K
Cap Rate 7%
$392,643
$392.6K
Cap Rate 9%
$305,389
$305.4K
Market Conditions
NOI Build-Up for 3,180 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
$42.0K $13.20/SF
− Vacancy
−$2.7K −$0.85/SF
EGI
$39.3K $12.35/SF
− OpEx
−$11.8K −$3.70/SF
NOI
$27.5K $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%
$549,700
Cap Rate 7%
$392,643
Cap Rate 9%
$305,389
Alternative Uses
Best Use
Multifamily LT 5
$392.6K
$343.6K – $458.1K
NOI $27,485 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.8K
NOI $25,429 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$763.8K
$668.3K – $891.1K
NOI $53,467 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
475
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences include private laundry hookups, ceiling fans, and access to recent interior and exterior improvements.
Where is this quadplex located?
The property is located at 1113 Horizon Drive Killeen, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,180 SF fourplex with four 2‑bedroom, 1‑bath units; Roof replaced in 2022; Heavy‑duty LVP flooring, fresh paint, and some new appliances
