Two-Unit
For Sale
$130,000
1806 Alamo Avenue, Killeen, TX 76541
Residential, Killeen, TX
Property Size846 SF
Lot Size0.19 Acres
Price / SF$153.66
Days on Market159
Property Features for 1806 Alamo Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Appliances
SomeElectricAppliances
Subdivision
Castle Heights Blks K-Y
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Turn right off of E Rancier Ave onto Massey Street. Turn left onto Duncan Ave. Then turn right onto Toliver Street. Turn right onto Alamo Avenue the duplex will be to your right.
Standard status
Active
APN
107281
Size
846 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CASTLE HEIGHTS (BLKS K-Y), BLOCK 00T, LOT 0002
Tax Annual Amount
1494
Legal Description
CASTLE HEIGHTS (BLKS K-Y), BLOCK 00T, LOT 0002
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1955
Number of units
2
Flooring type
Vinyl, Laminate
Building materials
WoodSiding
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Morris Real Estate
(254) 634-8852
Listed By:
Bailey Scoggins · License #0802393
(254) 630-2516
Added: Mar 23
Changed: Aug 20
Last Checked: Aug 28 at 11:06AM
MLS# 608248
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 two-unit duplex contains one three-bedroom residence and one two-bedroom residence, with a combined reported property size of 846 square feet. The structure was built in 1955 and features wood siding, composition shingle roofing, vinyl and laminate flooring, and window-unit cooling.
Located at 1806 Alamo Avenue in Killeen, Texas, the property occupies approximately 0.191 acres. Public water serves the site, and the property is identified within ZIP Code 76541.
Located at 1806 Alamo Avenue in Killeen, Texas, the property occupies approximately 0.191 acres. Public water serves the site, and the property is identified within ZIP Code 76541.
Key Highlights
- Two‑unit duplex with one 3‑bedroom residence and one 2‑bedroom residence
- 846 square feet of reported property size
- Built in 1955
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
$7,312
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
5.62%
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%
$146,240
$146.2K
Cap Rate 7%
$104,457
$104.5K
Cap Rate 9%
$81,244
$81.2K
Market Conditions
NOI Build-Up for 846 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
$11.2K $13.20/SF
− Vacancy
−$721 −$0.85/SF
EGI
$10.4K $12.35/SF
− OpEx
−$3.1K −$3.70/SF
NOI
$7.3K $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 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%
$146,240
Cap Rate 7%
$104,457
Cap Rate 9%
$81,244
Alternative Uses
Best Use
Multifamily LT 5
$104.5K
$91.4K – $121.9K
NOI $7,312 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$96.6K
$84.6K – $112.8K
NOI $6,765 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$203.2K
$177.8K – $237.1K
NOI $14,224 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
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?
Duplex - Wood-sided duplex with two residences offering three-bedroom and two-bedroom layouts.
Where is this duplex located?
The property is located at 1806 Alamo Avenue Killeen, TX.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Two‑unit duplex with one 3‑bedroom residence and one 2‑bedroom residence; 846 square feet of reported property size; Built in 1955
