Duplex with Attached
For Sale
$314,900
Pending
2103 Schorn Drive, Killeen, TX 76542
Two-unit residential property with central air, updated kitchen equipment, private outdoor space, and an attached garage.
Property Size2,272 SF
Days on Market21
Property Features for 2103 Schorn Drive
General Information
Standard status
Pending
Size
2,272 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,570
Amenities
Sidewalks
Ceiling Fan(s), Central Air, Electric
Central, Electric
Dishwasher, Electric Range, Electric Water Heater, Disposal, Refrigerator, Range
Ceiling Fan(s), Chandelier, Double Vanity, Walk-In Closet(s), Granite Counters
Back Yard, Wood
Attached, Garage
Traditional
Building Details
Year Built
2006
Stories
1
Listing Agency:
Two Lakes Real Estate
(254) 316-9606
Listed By:
Katie Strange · License #0743427
(254) 316-9606
Source:
Evrealestate
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 5:41AM
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 Two Lakes Real Estate
Investment Insights
Based on property information with market context.
This duplex offers 2,272 square feet of residential space in a traditional-style building completed in 2006. Interior features include central electric air conditioning, ceiling fans, granite counters, double vanities, and walk-in closets. The kitchen areas include dishwashers, electric ranges, disposals, refrigerators, and electric water heaters.
The property includes an attached garage and a back yard. It is located on Schorn Drive in Killeen, Texas, with access from Trimmier Road and Elms Road.
The property includes an attached garage and a back yard. It is located on Schorn Drive in Killeen, Texas, with access from Trimmier Road and Elms Road.
Key Highlights
- 2,272‑square‑foot duplex completed in 2006
- Central electric air conditioning and ceiling fans
- Granite counters, double vanities, and walk‑in closets
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
$19,637
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
6.24%
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%
$392,740
$392.7K
Cap Rate 7%
$280,529
$280.5K
Cap Rate 9%
$218,189
$218.2K
Market Conditions
NOI Build-Up for 2,272 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
$30.0K $13.20/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$28.1K $12.35/SF
− OpEx
−$8.4K −$3.70/SF
NOI
$19.6K $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%
$392,740
Cap Rate 7%
$280,529
Cap Rate 9%
$218,189
Alternative Uses
Best Use
Multifamily LT 5
$280.5K
$245.5K – $327.3K
NOI $19,637 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$259.5K
$227.1K – $302.8K
NOI $18,168 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$545.7K
$477.5K – $636.7K
NOI $38,200 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 76542, TX
53,312
Population
21,027
Households
2.5
Avg Household Size
32
Median Age
29%
College-Educated
94%
High-School Grad
63.0 sq mi
ZIP Area
846
Density / Sq Mi
$72,891
Median Household Income
$42,506
Median Earnings
$1,237
Median Rent
$228,500
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 - Two-unit residential property with central air, updated kitchen equipment, private outdoor space, and an attached garage.
Where is this duplex located?
The property is located at 2103 Schorn Drive Killeen, TX.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: 2,272‑square‑foot duplex completed in 2006; Central electric air conditioning and ceiling fans; Granite counters, double vanities, and walk‑in closets
