Four-Unit Multifamily
For Sale
$450,000
4203 July Dr, Killeen, TX 76549
Residents have upstairs bedrooms and full bathrooms, with living areas on the main level.
Property Size4,230 SF
Price / SF$106.38
Days on Market8
Property Features for 4203 July Dr
General Information
Standard status
Active
Size
4,230 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
2001
Listing Agency:
Full Circle RE
Listed By:
Pratik Patel · License #0832283
(913) 284-9662
Source:
Easttxhomesforsale
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 2:14PM
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 Full Circle RE
Investment Insights
Based on property information with market context.
Built in 2001, this four-unit multifamily property contains 4,230 square feet. The unit mix includes two- and three-bedroom layouts with either 1.5 or 2 bathrooms. Bedrooms and full bathrooms are upstairs, while the main level contains the living areas. All four units are occupied, and tenants pay their own utilities.
The property is at 4203 July Dr in Killeen, near Fort Cavazos and local shopping, dining, schools, and entertainment. Interior access to occupied units is limited to the period after a contract is in place and during the option period.
The property is at 4203 July Dr in Killeen, near Fort Cavazos and local shopping, dining, schools, and entertainment. Interior access to occupied units is limited to the period after a contract is in place and during the option period.
Key Highlights
- Four‑unit multifamily property with 4,230 square feet
- Mix of two- and three‑bedroom units with 1.5- and 2‑bath layouts
- Bedrooms and full bathrooms are upstairs; living areas are on the main level
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
$36,560
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
8.12%
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%
$731,200
$731.2K
Cap Rate 7%
$522,286
$522.3K
Cap Rate 9%
$406,222
$406.2K
Market Conditions
NOI Build-Up for 4,230 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
$55.8K $13.20/SF
− Vacancy
−$3.6K −$0.85/SF
EGI
$52.2K $12.35/SF
− OpEx
−$15.7K −$3.70/SF
NOI
$36.6K $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%
$731,200
Cap Rate 7%
$522,286
Cap Rate 9%
$406,222
Alternative Uses
Best Use
Multifamily LT 5
$522.3K
$457.0K – $609.3K
NOI $36,560 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$483.2K
$422.8K – $563.8K
NOI $33,825 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$1.02M
$889.0K – $1.19M
NOI $71,121 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
402
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
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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?
Quadplex - Residents have upstairs bedrooms and full bathrooms, with living areas on the main level.
Where is this quadplex located?
The property is located at 4203 July Dr Killeen, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 4,230 square feet; Mix of two- and three‑bedroom units with 1.5- and 2‑bath layouts; Bedrooms and full bathrooms are upstairs; living areas are on the main level
