Brick Duplex with Two-Bedroom
For Sale
$160,000
1806 Cedarhill Drive, Killeen, TX 76543
Residential, Killeen, TX
Property Size1,500 SF
Lot Size0.39 Acres
Price / SF$106.67
Days on Market81
Property Features for 1806 Cedarhill Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Off Street
Interior features
CeilingFans, BreakfastBar
Fencing
Privacy
Appliances
Dishwasher, MultipleWaterHeaters, Oven, SomeElectricAppliances
Subdivision
Evening Hollow 3rd Ext
Lot features
City Lot, Less Than Quarter Acre
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
East On Rancier Avenue; Left On Cedarhill Drive; The Property is a Corner Lot on The Right! Look For my sign.
Standard status
Active
APN
12515
Size
1,500 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
EVENING HOLLOW 3RD EXTENSION, BLOCK 014, LOT 0001
Tax Annual Amount
3167
Legal Description
EVENING HOLLOW 3RD EXTENSION, BLOCK 014, LOT 0001
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
BrickVeneer, LapSiding, Masonry
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Levi Rodgers Real Estate Group
(210) 331-7000
Listed By:
Laron Phillips · License #0779655
(254) 449-5347
Added: Jun 4
Changed: Aug 20
Last Checked: Aug 23 at 12:06PM
MLS# 615931
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 duplex contains 1500 square feet across two matching units, each arranged with 2 bedrooms and 1 bathroom. Built in 1985, the property features brick veneer and masonry construction, tile flooring, ceiling fans, breakfast bars, dishwashers, ovens, and multiple water heaters. Central electric heating and cooling serve both sides. Each unit also includes off-street parking, privacy fencing, public water, and public sewer.
One side is currently rented, while the second unit is vacant and ready for occupancy. The property sits on 0.3871 acres in Killeen, with shopping, restaurants, and Fort Hood approximately 5 minutes away. Georgetown is approximately 50 minutes away, and Austin is approximately an hour and 15 minutes away.
One side is currently rented, while the second unit is vacant and ready for occupancy. The property sits on 0.3871 acres in Killeen, with shopping, restaurants, and Fort Hood approximately 5 minutes away. Georgetown is approximately 50 minutes away, and Austin is approximately an hour and 15 minutes away.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per side
- 1500 square feet on 0.3871 acres
- One unit rented; the second unit is vacant
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
$12,965
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
8.10%
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%
$259,300
$259.3K
Cap Rate 7%
$185,214
$185.2K
Cap Rate 9%
$144,056
$144.1K
Market Conditions
NOI Build-Up for 1,500 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
$19.8K $13.20/SF
− Vacancy
−$1.3K −$0.85/SF
EGI
$18.5K $12.35/SF
− OpEx
−$5.6K −$3.70/SF
NOI
$13.0K $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%
$259,300
Cap Rate 7%
$185,214
Cap Rate 9%
$144,056
Alternative Uses
Best Use
Multifamily LT 5
$185.2K
$162.1K – $216.1K
NOI $12,965 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$171.4K
$149.9K – $199.9K
NOI $11,995 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$360.3K
$315.3K – $420.3K
NOI $25,220 @ 7.0% cap · market cap 15.76%
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
154
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
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 - Two units offer matching bedroom-and-bathroom layouts, with one currently occupied and the other available.
Where is this duplex located?
The property is located at 1806 Cedarhill Drive Killeen, TX.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per side; 1500 square feet on 0.3871 acres; One unit rented; the second unit is vacant
