Updated Fourplex with Two-Bedroom
For Sale
$295,000
407 W AVENUE E KILLEEN TX 76541, Killeen, TX 76541
Recent system upgrades and finish improvements complement the four-unit residential layout.
Property Size2,664 SF
Price / SF$110.74
Days on Market11
Property Features for 407 W AVENUE E KILLEEN TX 76541
General Information
Standard status
Active
Size
2,664 SF
Property subtype
Apartment
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1977
Stories
2
Listing Agency:
Entire Real Estate
(512) 869-9953
Listed By:
Cynthia Ross · License #0597654
(512) 869-9953
Source:
Kwsanantonio
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 5:54AM
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 Entire Real Estate
Investment Insights
Based on property information with market context.
This fourplex contains four residential units, each arranged with 2 bedrooms and 1 bathroom. The 2,664-square-foot property was built in 1977 and has received recent improvements, including central air and heat, electrical and plumbing replacements, interior paint, and laminate flooring. Each unit includes an electric range and refrigerator, while residents pay their own utility bills.
Located at 407 W Avenue E in Killeen, the property is positioned close to Fort Hood. Its consistent unit layout and updated building systems create a straightforward configuration for multifamily ownership.
Located at 407 W Avenue E in Killeen, the property is positioned close to Fort Hood. Its consistent unit layout and updated building systems create a straightforward configuration for multifamily ownership.
Key Highlights
- Fourplex with four 2‑bedroom, 1‑bath units
- 2,664 SF property built in 1977
- New central air and heat
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
$23,025
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
7.81%
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%
$460,500
$460.5K
Cap Rate 7%
$328,929
$328.9K
Cap Rate 9%
$255,833
$255.8K
Market Conditions
NOI Build-Up for 2,664 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
$35.2K $13.20/SF
− Vacancy
−$2.3K −$0.85/SF
EGI
$32.9K $12.35/SF
− OpEx
−$9.9K −$3.70/SF
NOI
$23.0K $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%
$460,500
Cap Rate 7%
$328,929
Cap Rate 9%
$255,833
Alternative Uses
Best Use
Multifamily LT 5
$328.9K
$287.8K – $383.8K
NOI $23,025 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$304.3K
$266.3K – $355.1K
NOI $21,303 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$639.9K
$559.9K – $746.5K
NOI $44,791 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,693
Businesses Nearby
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Recent system upgrades and finish improvements complement the four-unit residential layout.
Where is this quadplex located?
The property is located at 407 W AVENUE E KILLEEN TX 76541 Killeen, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Fourplex with four 2‑bedroom, 1‑bath units; 2,664 SF property built in 1977; New central air and heat
