Corner-Lot
For Sale
$270,000
2209 Wright Way, Killeen, TX 76543
Residential, Killeen, TX
Property Size2,187 SF
Lot Size0.29 Acres
Price / SF$123.46
Days on Market49
Property Features for 2209 Wright Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2
Interior features
CeilingFans, KitchenDiningCombo
Appliances
Dishwasher, ElectricRange, SomeElectricAppliances
Subdivision
The Gardens Of Park North Phas
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Westcliff to Wright Way. Duplex is on the corner
Standard status
Active
APN
196764
Size
2,187 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE GARDENS OF PARK NORTH PHASE FOUR, BLOCK 002, LOT 0004
Tax Annual Amount
6004
Legal Description
THE GARDENS OF PARK NORTH PHASE FOUR, BLOCK 002, LOT 0004
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
private fenced backyard
Building Details
Year built
1999
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Masonry
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Overall Realty, LLC
(254) 432-4509
Listed By:
Andrea C. Curtis · License #0376227
(254) 466-7083
Added: Jul 27
Changed: Sep 13
Last Checked: Sep 13 at 8:06PM
MLS# 620864
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 income-producing duplex contains 2,187 square feet across two residential units, with each side offering 3 bedrooms, 2 full bathrooms, a 1-car garage, and a private fenced backyard. The property sits on a 0.2938-acre corner lot and was built in 1999. Interior features include combined kitchen and dining areas, ceiling fans, tile and vinyl flooring, dishwashers, and electric ranges. Masonry construction, composition shingle roofing, central electric heating, central air conditioning, and public water complete the core improvements.
Located in Killeen, the property is minutes from Fort Hood, shopping, dining, schools, and major roads. The two-unit configuration supports residential rental use and provides separate living spaces with individual garage parking and outdoor areas.
Located in Killeen, the property is minutes from Fort Hood, shopping, dining, schools, and major roads. The two-unit configuration supports residential rental use and provides separate living spaces with individual garage parking and outdoor areas.
Key Highlights
- Two‑unit layout with 3 bedrooms and 2 bathrooms in each unit
- 2,187 square feet on a 0.2938‑acre corner lot
- Each unit includes a 1‑car garage and private fenced backyard
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
$18,902
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
7.00%
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%
$378,040
$378.0K
Cap Rate 7%
$270,029
$270.0K
Cap Rate 9%
$210,022
$210.0K
Market Conditions
NOI Build-Up for 2,187 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
$28.9K $13.20/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$27.0K $12.35/SF
− OpEx
−$8.1K −$3.70/SF
NOI
$18.9K $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%
$378,040
Cap Rate 7%
$270,029
Cap Rate 9%
$210,022
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.0K
NOI $18,902 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$249.8K
$218.6K – $291.5K
NOI $17,488 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$525.3K
$459.6K – $612.9K
NOI $36,771 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
114
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?
Duplex - Two separately fenced yards and garage parking support tenant privacy and everyday convenience.
Where is this duplex located?
The property is located at 2209 Wright Way Killeen, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit layout with 3 bedrooms and 2 bathrooms in each unit; 2,187 square feet on a 0.2938‑acre corner lot; Each unit includes a 1‑car garage and private fenced backyard
