Vacant Two-Unit
For Sale
$109,900
422 W Green Avenue, Killeen, TX 76541
Residential, Killeen, TX
Property Size968 SF
Lot Size0.20 Acres
Price / SF$113.53
Days on Market94
Property Features for 422 W Green Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
Appliances
ElectricRange, Refrigerator, RangeHood
Subdivision
Carter
Lot features
City Lot, Less Than Quarter Acre
Elementary school
Killeen Elementary
Middle school
Manor Middle School
High school
Killeen High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From S Fort Hood St, turn west onto W Green Ave. Pass N 2nd St and N 4th St; the property is on the left.
Standard status
Active
APN
18045
Size
968 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
CARTER, BLOCK 002, LOT 0005
Tax Annual Amount
2265
Legal Description
CARTER, BLOCK 002, LOT 0005
Utilities
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
LapSiding
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
The Agents Premiere Realty Grp
(254) 218-4177
Listed By:
Julissa Ortiz · License #0826434
(512) 489-7479
Added: Jun 18
Changed: Sep 16
Last Checked: Sep 19 at 5:06PM
MLS# 617040
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 968-square-foot duplex contains two one-bedroom, one-bath residences, both delivered vacant. The layout includes laminate flooring, lap siding, composition shingle roofing, and public water service. Electric ranges, refrigerators, and range hoods are included, while separate utility meters serve the individual units.
Built in 1957, the property occupies 0.2038 acres at 422 W Green Avenue in Killeen, Texas 76541. Its residential configuration provides two distinct living spaces within one building, with the existing room arrangement including two bedrooms and two bathrooms overall.
Built in 1957, the property occupies 0.2038 acres at 422 W Green Avenue in Killeen, Texas 76541. Its residential configuration provides two distinct living spaces within one building, with the existing room arrangement including two bedrooms and two bathrooms overall.
Key Highlights
- Two one‑bedroom, one‑bath units in a single duplex
- Both units are fully vacant
- 968 square feet on a 0.2038‑acre lot
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
$8,367
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
7.61%
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%
$167,340
$167.3K
Cap Rate 7%
$119,529
$119.5K
Cap Rate 9%
$92,967
$93.0K
Market Conditions
NOI Build-Up for 968 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
$12.8K $13.20/SF
− Vacancy
−$825 −$0.85/SF
EGI
$12.0K $12.35/SF
− OpEx
−$3.6K −$3.70/SF
NOI
$8.4K $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%
$167,340
Cap Rate 7%
$119,529
Cap Rate 9%
$92,967
Alternative Uses
Best Use
Multifamily LT 5
$119.5K
$104.6K – $139.5K
NOI $8,367 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$110.6K
$96.8K – $129.0K
NOI $7,741 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$232.5K
$203.4K – $271.3K
NOI $16,275 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,568
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
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?
Duplex - Both residences are vacant and separately metered, with one bedroom and one bathroom in each unit.
Where is this duplex located?
The property is located at 422 W Green Avenue Killeen, TX.
What is the asking price?
The asking price for this property is $109,900.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units in a single duplex; Both units are fully vacant; 968 square feet on a 0.2038‑acre lot
