Two-Unit Duplex with
For Sale
$237,900
2405 Bermuda Dr, Killeen, TX 76549
Both residences are tenant-occupied and feature open living areas, fireplaces, and durable tile flooring.
Property Size1,570 SF
Price / SF$151.53
Days on Market82
Property Features for 2405 Bermuda Dr
General Information
Standard status
Active
Size
1,570 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
fireplace
Building Details
Year Built
1986
Tenancy
Multi
Listing Agency:
Jim Wright Company
(254) 245-2908
Listed By:
Michelle Evans (254) 526-5117 · License #0742331
Source:
Homeguidecentraltexas
Added: Jun 8
Changed: Aug 28
Last Checked: Aug 28 at 6:03AM
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 Jim Wright Company
Investment Insights
Based on property information with market context.
This 1986 duplex contains two matching residences within 1570 square feet. Each unit includes 2 bedrooms, 2 full bathrooms, an open living area with a fireplace, and tile flooring throughout. The two-unit configuration provides a consistent layout across the property, while current tenant occupancy supports ongoing rental use.
Located at 2405 Bermuda Dr in Killeen, the property is near shopping, dining, schools, and Fort Hood. Its established neighborhood setting and identical floor plans offer a straightforward residential income property profile for an owner seeking a leased duplex.
Located at 2405 Bermuda Dr in Killeen, the property is near shopping, dining, schools, and Fort Hood. Its established neighborhood setting and identical floor plans offer a straightforward residential income property profile for an owner seeking a leased duplex.
Key Highlights
- Two‑unit duplex with 1570 square feet
- Each unit offers 2 bedrooms and 2 full bathrooms
- Matching floor plans with open living areas and fireplaces
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
$13,570
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
5.70%
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%
$271,400
$271.4K
Cap Rate 7%
$193,857
$193.9K
Cap Rate 9%
$150,778
$150.8K
Market Conditions
NOI Build-Up for 1,570 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
$20.7K $13.20/SF
− Vacancy
−$1.3K −$0.85/SF
EGI
$19.4K $12.35/SF
− OpEx
−$5.8K −$3.70/SF
NOI
$13.6K $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%
$271,400
Cap Rate 7%
$193,857
Cap Rate 9%
$150,778
Alternative Uses
Best Use
Multifamily LT 5
$193.9K
$169.6K – $226.2K
NOI $13,570 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$179.4K
$156.9K – $209.3K
NOI $12,555 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$377.1K
$330.0K – $440.0K
NOI $26,397 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 76549, TX
56,199
Population
21,794
Households
2.6
Avg Household Size
29
Median Age
23%
College-Educated
95%
High-School Grad
94.1 sq mi
ZIP Area
597
Density / Sq Mi
$62,536
Median Household Income
$36,340
Median Earnings
$1,363
Median Rent
$202,100
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 - Both residences are tenant-occupied and feature open living areas, fireplaces, and durable tile flooring.
Where is this duplex located?
The property is located at 2405 Bermuda Dr Killeen, TX.
What is the asking price?
The asking price for this property is $237,900.
What are key features of this property?
This property features: Two‑unit duplex with 1570 square feet; Each unit offers 2 bedrooms and 2 full bathrooms; Matching floor plans with open living areas and fireplaces
