Leased Duplex with Identical
For Sale
$325,000
1500 Justin Loop, Killeen, TX 76543
Two tenant-occupied residences offer matching layouts and durable luxury vinyl plank flooring throughout.
Property Size2,534 SF
Price / SF$128.26
Days on Market9
Property Features for 1500 Justin Loop
General Information
Standard status
Active
Size
2,534 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2018
Listing Agency:
Jim Wright Company
Listed By:
Michelle Evans (254) 526-5117 · License #0742331
(254) 245-2908
Source:
Allcentraltxhomesforsale
Added: Sep 14
Changed: Sep 21
Last Checked: Sep 21 at 2:43PM
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 Jim Wright Company
Investment Insights
Based on property information with market context.
Built in 2018, this 2,534-square-foot duplex contains two matching residential units. Each unit provides three bedrooms, two full bathrooms, an open living area, and luxury vinyl plank flooring throughout. Both residences are occupied by tenants, creating a fully leased configuration for an owner seeking an income-producing multifamily asset.
The property is located at 1500 Justin Loop in Killeen, with shopping, dining, schools, and Fort Hood identified nearby. The matching floor plans and consistent interior finish package create a straightforward operating setup across both sides of the duplex.
The property is located at 1500 Justin Loop in Killeen, with shopping, dining, schools, and Fort Hood identified nearby. The matching floor plans and consistent interior finish package create a straightforward operating setup across both sides of the duplex.
Key Highlights
- Two‑unit duplex built in 2018
- Each unit includes 3 bedrooms and 2 full bathrooms
- 2,534 SF total property size
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
$21,902
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
6.74%
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%
$438,040
$438.0K
Cap Rate 7%
$312,886
$312.9K
Cap Rate 9%
$243,356
$243.4K
Market Conditions
NOI Build-Up for 2,534 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
$33.4K $13.20/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$31.3K $12.35/SF
− OpEx
−$9.4K −$3.70/SF
NOI
$21.9K $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%
$438,040
Cap Rate 7%
$312,886
Cap Rate 9%
$243,356
Alternative Uses
Best Use
Multifamily LT 5
$312.9K
$273.8K – $365.0K
NOI $21,902 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$289.5K
$253.3K – $337.7K
NOI $20,263 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$608.6K
$532.6K – $710.1K
NOI $42,605 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 76543, TX
30,545
Population
15,300
Households
2
Avg Household Size
30
Median Age
15%
College-Educated
91%
High-School Grad
35.6 sq mi
ZIP Area
858
Density / Sq Mi
$51,239
Median Household Income
$31,712
Median Earnings
$1,099
Median Rent
$140,700
Median Home Value
Check the figures for this property
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 - Two tenant-occupied residences offer matching layouts and durable luxury vinyl plank flooring throughout.
Where is this duplex located?
The property is located at 1500 Justin Loop Killeen, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2018; Each unit includes 3 bedrooms and 2 full bathrooms; 2,534 SF total property size
