Tenant-Occupied
New
For Sale
$325,000
1500 Justin Loop, Killeen, TX 76543
Residential, Killeen, TX
Property Size2,534 SF
Lot Size0.27 Acres
Price / SF$128.26
Days on Market7
Property Features for 1500 Justin Loop
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 1
Interior features
CeilingFans, DoubleVanity, TubShower, WalkInClosets, Pantry
Appliances
ElectricRange, ElectricWaterHeater, Microwave, Refrigerator, SomeElectricAppliances, Range
Subdivision
Lakeview Park Sub
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 Hwy 190, turn onto N Roy Reynolds. Then take a left onto E Rancier. Next, take a left onto Brim Lamkey and then a right onto Justin Loop. Property will be on the left.
Standard status
Active
APN
475149
Size
2,534 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LAKEVIEW PARK SUBDIVISION FOURTH REPLAT, BLOCK 001, LOT 0001
Tax Annual Amount
6393
Legal Description
LAKEVIEW PARK SUBDIVISION FOURTH REPLAT, BLOCK 001, LOT 0001
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2018
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
LapSiding, Masonry
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Michelle Evans · License #0742331
(254) 245-2908
Added: Sep 12
Changed: Sep 17
Last Checked: Sep 18 at 10:06AM
MLS# 625508
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.
Built in 2018, this duplex contains 2,534 square feet across two matching residences. Each unit includes three bedrooms, two full bathrooms, an open living area, walk-in closets, a pantry, ceiling fans, and luxury vinyl plank flooring. Central electric heating and cooling serve both units, while kitchens include electric ranges, refrigerators, microwaves, and electric water heaters.
Both residences are currently tenant-occupied, providing an established rental setup for an owner seeking a duplex property. The 0.2653-acre site is served by public water and includes composition shingle roofing, lap siding, and masonry construction. The property is located in Killeen near shopping, dining, schools, and Fort Hood.
Both residences are currently tenant-occupied, providing an established rental setup for an owner seeking a duplex property. The 0.2653-acre site is served by public water and includes composition shingle roofing, lap siding, and masonry construction. The property is located in Killeen near shopping, dining, schools, and Fort Hood.
Key Highlights
- 2,534‑square‑foot duplex built in 2018
- Two matching units, each with 3 bedrooms and 2 full bathrooms
- Both units are currently tenant‑occupied
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
152
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer three-bedroom layouts, durable vinyl flooring, and current occupancy in both units.
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: 2,534‑square‑foot duplex built in 2018; Two matching units, each with 3 bedrooms and 2 full bathrooms; Both units are currently tenant‑occupied
