Tenant-Occupied
For Sale
$299,150
2509 Bermuda Drive, Killeen, TX 76549
Residential, Killeen, TX
Property Size1,898 SF
Lot Size0.21 Acres
Price / SF$157.61
Days on Market26
Property Features for 2509 Bermuda Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4
Interior features
CeilingFans, TubShower, Vanity, WalkInClosets, KitchenDiningCombo
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, Refrigerator, WaterHeater, SomeElectricAppliances, Range
Subdivision
Western Hills 2nd Ph Rep
Lot features
City Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From I-14, take Willow Springs Exit. Take will Willow Springs to Corona Dr. This turns in to Bermuda. Property will be on the right.
Standard status
Active
APN
45064
Size
1,898 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
WESTERN HILLS 2ND PHASE REPLAT (BLKS 21-22), BLOCK 021, LOT 0005
Tax Annual Amount
4556
Legal Description
WESTERN HILLS 2ND PHASE REPLAT (BLKS 21-22), BLOCK 021, LOT 0005
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
Brick, VinylSiding
Roof type
Shingle, Composition
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Dawn Weller · License #0647473
(254) 466-0641
Added: Sep 4
Changed: Sep 15
Last Checked: Sep 29 at 7:06AM
MLS# 624570
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 1,898 square feet across two tenant-occupied units. Each residence includes 2 bedrooms, 2 full bathrooms, and a 1-car garage, with practical kitchen-dining areas, walk-in closets, ceiling fans, and a combination of tile and carpet flooring. Brick and vinyl siding are paired with composition shingle roofing, while central electric heating and cooling serve both units. The property was built in 1986 and includes a fireplace.
Set on a 0.2123-acre lot in Killeen, the property is near schools, Fort Hood, shopping, and restaurants. Public water and public sewer serve the site, and privacy fencing provides separation around the property. Each unit is equipped with a dishwasher, electric range, refrigerator, and electric water heater.
Set on a 0.2123-acre lot in Killeen, the property is near schools, Fort Hood, shopping, and restaurants. Public water and public sewer serve the site, and privacy fencing provides separation around the property. Each unit is equipped with a dishwasher, electric range, refrigerator, and electric water heater.
Key Highlights
- Duplex with 1,898 square feet on a 0.2123‑acre lot
- Both units are tenant occupied
- Each unit includes 2 bedrooms, 2 full bathrooms, and a 1‑car garage
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
$16,405
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
5.48%
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%
$328,100
$328.1K
Cap Rate 7%
$234,357
$234.4K
Cap Rate 9%
$182,278
$182.3K
Market Conditions
NOI Build-Up for 1,898 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
$25.1K $13.20/SF
− Vacancy
−$1.6K −$0.85/SF
EGI
$23.4K $12.35/SF
− OpEx
−$7.0K −$3.70/SF
NOI
$16.4K $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%
$328,100
Cap Rate 7%
$234,357
Cap Rate 9%
$182,278
Alternative Uses
Best Use
Multifamily LT 5
$234.4K
$205.1K – $273.4K
NOI $16,405 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$216.8K
$189.7K – $253.0K
NOI $15,177 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$455.9K
$398.9K – $531.9K
NOI $31,912 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
173
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer private garages, functional layouts, and a mix of tile and carpet flooring.
Where is this duplex located?
The property is located at 2509 Bermuda Drive Killeen, TX.
What is the asking price?
The asking price for this property is $299,150.
What are key features of this property?
This property features: Duplex with 1,898 square feet on a 0.2123‑acre lot; Both units are tenant occupied; Each unit includes 2 bedrooms, 2 full bathrooms, and a 1‑car garage
