Occupied Duplex
For Sale
$290,000
3501 Dustin Court, Killeen, TX 76549
Residential, Killeen, TX
Property Size2,590 SF
Lot Size0.31 Acres
Price / SF$111.97
Days on Market17
Property Features for 3501 Dustin Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Interior features
TubShower
Appliances
ElectricWaterHeater, SomeElectricAppliances
Subdivision
Kings Crossing
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
Clear Creek Rd to Elms Rd, left on Dustin Ct. - or 195 to Elms Rd to right on Dustin Ct.
Standard status
Active
APN
331976
Size
2,590 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
KING'S CROSSING, BLOCK 001, LOT 0015
Tax Annual Amount
6198
Legal Description
KING'S CROSSING, BLOCK 001, LOT 0015
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2003
Floors in Building
1
Number of units
2
Building materials
BrickVeneer
Roof type
Shingle, Composition
Architectural style
Ranch
Listing Agency:
Step by Step Realty
(254) 319-1316
Listed By:
Jeanette Amthor-Rodriguez · License #0582875
(254) 319-1316
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 28 at 11:06AM
MLS# 622570
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 2003, this duplex contains 2,590 square feet on a 0.3073-acre lot in Killeen. The ranch-style property has brick veneer construction, shingle composition roofing, central air conditioning, and electric central heating. Public water and sewer serve the property, while interior features include tub-and-shower bathrooms and electric water heating.
Both units are occupied under active leases. The property is located near Fort Hood, local schools, and major commuter routes in ZIP Code 76549. Interior photographs are not provided to protect resident privacy, and showings or inspections require advance scheduling with consideration for the occupants.
Both units are occupied under active leases. The property is located near Fort Hood, local schools, and major commuter routes in ZIP Code 76549. Interior photographs are not provided to protect resident privacy, and showings or inspections require advance scheduling with consideration for the occupants.
Key Highlights
- Duplex with 2,590 square feet of property size
- 0.3073‑acre lot in Killeen, TX 76549
- Both units fully occupied with active leases
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
$22,386
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
7.72%
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%
$447,720
$447.7K
Cap Rate 7%
$319,800
$319.8K
Cap Rate 9%
$248,733
$248.7K
Market Conditions
NOI Build-Up for 2,590 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
$34.2K $13.20/SF
− Vacancy
−$2.2K −$0.85/SF
EGI
$32.0K $12.35/SF
− OpEx
−$9.6K −$3.70/SF
NOI
$22.4K $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%
$447,720
Cap Rate 7%
$319,800
Cap Rate 9%
$248,733
Alternative Uses
Best Use
Multifamily LT 5
$319.8K
$279.8K – $373.1K
NOI $22,386 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$295.9K
$258.9K – $345.2K
NOI $20,711 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$622.1K
$544.3K – $725.8K
NOI $43,547 @ 7.0% cap · market cap 15.02%
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
162
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 residential units are leased and occupied, with brick veneer construction and public water and sewer service.
Where is this duplex located?
The property is located at 3501 Dustin Court Killeen, TX.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Duplex with 2,590 square feet of property size; 0.3073‑acre lot in Killeen, TX 76549; Both units fully occupied with active leases
