Updated Duplex with
New
For Sale
Under Contract
$314,900
2103 Schorn Drive, Killeen, TX 76542
MULTI_FAMILY - Other - Killeen, TX
Property Size2,272 SF
Lot Size0.35 Acres
Price / SF$138.60
Days on Market5
Property Features for 2103 Schorn Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 6, Bathroom 2, Bathroom 4
Parking features
Garage
Patio and Porch features
Patio, Porch
Interior features
CeilingFans, Chandelier, DoubleVanity, TubShower, WalkInClosets, GraniteCounters, SolidSurfaceCounters
Exterior features
CoveredPatio, Porch
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, MultipleWaterHeaters, Refrigerator, SomeElectricAppliances, Range
Subdivision
Hidalgo Ranch
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school
Saegert Elementary School
Middle school
Patterson Middle School
High school
Ellison High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Take the Trimmier Road exit and head south on Trimmier Rd. Turn left onto Elms Road, then right onto Schorn Drive. Continue on Schorn Drive to 2103 Schorn Dr, Killeen, TX 76542.
Standard status
Active Under Contract
APN
363334
Size
2,272 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
HIDALGO RANCH, BLOCK 003, LOT 0003
Tax Annual Amount
5570
Legal Description
HIDALGO RANCH, BLOCK 003, LOT 0003
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
covered front porch
covered back patio
private backyard
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Masonry
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Two Lakes Real Estate
(254) 415-4040
Listed By:
Katie Strange · License #0743427
(254) 316-9606
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 1:06AM
MLS# 622089
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 2006, this 2,272-square-foot duplex contains two 3-bedroom, 2-bath units, each with a 1-car garage, covered front porch, covered back patio, and private backyard. Unit A has granite countertops, stainless steel appliances, updated lighting, ceramic tile flooring, fresh interior and exterior paint, and an HVAC replacement completed in 2024. Unit B is well maintained and includes Formica countertops, with its HVAC system replaced in 2026.
Unit B is occupied under a lease running through February 21, 2027. The property sits on 0.3484 acres in Killeen, Texas, with public water and public sewer service. Additional features include central electric heating and cooling, ceiling fans, walk-in closets, double vanities, tub-and-shower combinations, dishwashers, ranges, refrigerators, and composition shingle roofing.
Unit B is occupied under a lease running through February 21, 2027. The property sits on 0.3484 acres in Killeen, Texas, with public water and public sewer service. Additional features include central electric heating and cooling, ceiling fans, walk-in closets, double vanities, tub-and-shower combinations, dishwashers, ranges, refrigerators, and composition shingle roofing.
Key Highlights
- Two 3‑bedroom, 2‑bath units within a 2,272‑square‑foot duplex
- Each unit includes a 1‑car garage, covered front porch, covered back patio, and private backyard
- Unit A HVAC replaced in 2024, with new paint, granite counters, stainless appliances, lighting, and ceramic tile
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
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
179
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 separate homes provide private outdoor areas, individual garages, and recent improvements to one side of the property.
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: Two 3‑bedroom, 2‑bath units within a 2,272‑square‑foot duplex; Each unit includes a 1‑car garage, covered front porch, covered back patio, and private backyard; Unit A HVAC replaced in 2024, with new paint, granite counters, stainless appliances, lighting, and ceramic tile
