Two-Unit Brick
For Sale
$245,000
3604 Littleleaf Dr, Killeen, TX 76549
Single-story property with separate laundry areas, off-street parking, and updated living-area finishes.
Property Size1,943 SF
Price / SF$126.09
Days on Market19
Property Features for 3604 Littleleaf Dr
General Information
Standard status
Active
Size
1,943 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Some light work is needed
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
laundry area
off-street parking
Building Details
Year Built
2003
Buildings
1
Stories
1
Construction
all-brick
Listing Agency:
All City Real Estate Ltd. Co
Listed By:
Layne Hix (866) 277-6005 · License #0699305
(254) 394-0665
Source:
Homeguidecentraltexas
Added: Aug 26
Changed: Sep 10
Last Checked: Sep 13 at 12:19PM
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
Built in 2003, this single-story duplex contains two 2-bedroom, 1-bathroom units, each measuring approximately 970 square feet, with approximately 1,943 square feet overall. Both residences include dedicated laundry areas, off-street parking, and living spaces finished with luxury vinyl plank flooring. The all-brick exterior and recent updates provide an established physical foundation, while some light work remains and the property is offered AS IS.
The property is located at 3604 Littleleaf Drive in Killeen, approximately 1.5 miles from nearby shopping centers and approximately 2.8 miles from AdventHealth Central Texas. Fort Hood is approximately 11.4 miles away, and I-14/US-190 provides access to surrounding Central Texas communities. Austin is approximately 70 miles away, while Waco is approximately 60 miles away.
The property is located at 3604 Littleleaf Drive in Killeen, approximately 1.5 miles from nearby shopping centers and approximately 2.8 miles from AdventHealth Central Texas. Fort Hood is approximately 11.4 miles away, and I-14/US-190 provides access to surrounding Central Texas communities. Austin is approximately 70 miles away, while Waco is approximately 60 miles away.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units, each approximately 970 square feet
- Approximately 1,943 square feet total in a single‑story duplex
- Built in 2003 with an all‑brick exterior
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
$16,794
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
6.85%
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%
$335,880
$335.9K
Cap Rate 7%
$239,914
$239.9K
Cap Rate 9%
$186,600
$186.6K
Market Conditions
NOI Build-Up for 1,943 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
$25.6K $13.20/SF
− Vacancy
−$1.7K −$0.85/SF
EGI
$24.0K $12.35/SF
− OpEx
−$7.2K −$3.70/SF
NOI
$16.8K $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%
$335,880
Cap Rate 7%
$239,914
Cap Rate 9%
$186,600
Alternative Uses
Best Use
Multifamily LT 5
$239.9K
$209.9K – $279.9K
NOI $16,794 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$222.0K
$194.2K – $259.0K
NOI $15,537 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,669 @ 7.0% cap · market cap 13.33%
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
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
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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 - Single-story property with separate laundry areas, off-street parking, and updated living-area finishes.
Where is this duplex located?
The property is located at 3604 Littleleaf Dr Killeen, TX.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units, each approximately 970 square feet; Approximately 1,943 square feet total in a single‑story duplex; Built in 2003 with an all‑brick exterior
