New Construction
New
For Sale
$410,000
3101 Little Morris, Killeen, TX 76549
Residential, Killeen, TX
Property Size2,622 SF
Lot Size0.20 Acres
Price / SF$156.37
Days on Market4
Property Features for 3101 Little Morris
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5
Interior features
BuiltInFeatures, CeilingFans, TubShower, WalkInClosets, CustomCabinets, GraniteCounters, KitchenFamilyRoomCombo, KitchenDiningCombo, Pantry
Appliances
Dishwasher, ElectricRange, Microwave, Refrigerator, SomeElectricAppliances, Range
Subdivision
MORRIS SUBDIVISION PHASE ONE
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Head East on Stan Schlueter Loop - Turn right on Old FM 440 - Turn left on Anna Lee Dr - Turn left on Little Morris
Standard status
Active
APN
544312
Size
2,622 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
MORRIS SUBDIVISION PHASE ONE, BLOCK 002, LOT 0001
Legal Description
MORRIS SUBDIVISION PHASE ONE, BLOCK 002, LOT 0001
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
fully sodded yard
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
BrickVeneer, VerticalSiding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Morris Real Estate
(254) 634-8852
Listed By:
Leah Turner · License #0618583
(254) 535-1955
Added: Sep 21
Last Checked: Sep 24 at 7:06AM
MLS# 625824
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 is under construction and is designed with two separate residences, each offering 3 bedrooms, 2 bathrooms, and more than 1,300 square feet of living area. The interiors include granite countertops, custom cabinetry, vinyl flooring, walk-in closets, ceiling fans, pantry storage, and combined kitchen, dining, and family spaces. Planned appliances include a dishwasher, electric range, microwave, and refrigerator. Central electric heating and cooling support year-round comfort.
The 0.2-acre property includes a fully sodded yard with an installed sprinkler system. Brick veneer and vertical siding are specified for the exterior, with a composition shingle roof and public water service. Located in Killeen, Texas, the property is near Fort Hood and everyday conveniences.
The 0.2-acre property includes a fully sodded yard with an installed sprinkler system. Brick veneer and vertical siding are specified for the exterior, with a composition shingle roof and public water service. Located in Killeen, Texas, the property is near Fort Hood and everyday conveniences.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms per residence
- Each unit provides more than 1,300 square feet of living space
- 0.2‑acre lot with fully sodded yard and sprinkler system
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
$22,662
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
5.53%
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%
$453,240
$453.2K
Cap Rate 7%
$323,743
$323.7K
Cap Rate 9%
$251,800
$251.8K
Market Conditions
NOI Build-Up for 2,622 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
$34.6K $13.20/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$32.4K $12.35/SF
− OpEx
−$9.7K −$3.70/SF
NOI
$22.7K $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%
$453,240
Cap Rate 7%
$323,743
Cap Rate 9%
$251,800
Alternative Uses
Best Use
Multifamily LT 5
$323.7K
$283.3K – $377.7K
NOI $22,662 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$299.5K
$262.1K – $349.5K
NOI $20,967 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$629.8K
$551.1K – $734.8K
NOI $44,085 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
142
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 - Two-unit residential property with modern finishes, private outdoor space, and separate living areas suited to rental or owner use.
Where is this duplex located?
The property is located at 3101 Little Morris Killeen, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms per residence; Each unit provides more than 1,300 square feet of living space; 0.2‑acre lot with fully sodded yard and sprinkler system
