Four-Unit Property on Corner
For Sale
$340,000
1501 Benttree Drive, Killeen, TX 76543
Residential, Killeen, TX
Property Size3,180 SF
Lot Size0.22 Acres
Price / SF$106.92
Days on Market38
Property Features for 1501 Benttree Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 1, Bedroom 6, Bedroom 8, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1
Interior features
CeilingFans, MultipleClosets, TubShower, Vanity
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, Microwave, Oven, Refrigerator, SomeElectricAppliances, Range
Subdivision
Evening Hollow 2nd Ext
Lot features
Corner Lot, City Lot
Elementary school
Hay Branch Elementary School
Middle school
Rancier Middle School
High school
Killeen High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Excellent opportunity to own a well kept fourplex on a large corner lot! 2 units are currently vacant so this would work for VA or FHA. No carpet.
Standard status
Active
APN
7497
Size
3,180 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
EVENING HOLLOW 2ND EXTENSION, BLOCK 004, LOT 0021
Legal Description
EVENING HOLLOW 2ND EXTENSION, BLOCK 004, LOT 0021
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1997
Floors in Building
2
Number of units
4
Flooring type
Laminate, Tile
Building materials
Masonry
Roof type
Composition, Shingle
Listing Agency:
Hippo Realty, Llc
(512) 222-9008
Listed By:
Brooke Daniel · License #0621645
(214) 232-6840
Added: Aug 12
Changed: Sep 15
Last Checked: Sep 18 at 8:06AM
MLS# 622505
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 fourplex contains 3,180 square feet across four residential units on a 0.223-acre corner lot. Built in 1997, the masonry property has tile and laminate flooring, central electric heating, central air conditioning, and composition shingle roofing. Two units are currently vacant, while the property includes kitchens equipped with appliances such as dishwashers, electric ranges, microwaves, ovens, refrigerators, and disposals.
The property is served by public sewer and is located at 1501 Benttree Drive in Killeen, Texas. Interior features include ceiling fans, multiple closets, tub-and-shower combinations, and vanities. The four-bedroom and four-bathroom configuration reflected in the room data supports a straightforward multifamily layout.
The property is served by public sewer and is located at 1501 Benttree Drive in Killeen, Texas. Interior features include ceiling fans, multiple closets, tub-and-shower combinations, and vanities. The four-bedroom and four-bathroom configuration reflected in the room data supports a straightforward multifamily layout.
Key Highlights
- Fourplex with 4 units and 3,180 SF of property size
- Two units are currently vacant
- Situated on a 0.223‑acre corner lot
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
8.08%
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 8.08%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.8K
NOI $25,429 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$763.8K
$668.3K – $891.1K
NOI $53,467 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
165
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?
Quadplex - Masonry fourplex with two vacant units, central HVAC, and durable tile and laminate flooring throughout.
Where is this quadplex located?
The property is located at 1501 Benttree Drive Killeen, TX.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Fourplex with 4 units and 3,180 SF of property size; Two units are currently vacant; Situated on a 0.223‑acre corner lot
