Two-Unit Duplex with Separate
For Sale
$119,900
422 W GREEN KILLEEN TX 76541, Killeen, TX 76541
Two residential units offer individual utility metering and flexible occupancy options.
Property Size968 SF
Price / SF$123.86
Days on Market78
Property Features for 422 W GREEN KILLEEN TX 76541
General Information
Standard status
Active
Size
968 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1957
Stories
1
Listing Agency:
The Agents Premiere Realty Grp
(254) 218-4177
Listed By:
Julissa Ortiz · License #0826434
(512) 489-7479
Source:
Kwsanantonio
Added: Jun 18
Changed: Aug 31
Last Checked: Sep 2 at 1:18PM
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 The Agents Premiere Realty Grp
Investment Insights
Based on property information with market context.
Built in 1957, this 968-square-foot duplex contains two separate one-bedroom, one-bathroom residences. Each unit has its own utility meter, providing distinct service arrangements within the property. The building is offered in AS-IS condition, with one residence vacant and the second anticipated to become vacant in August. Both units can therefore be delivered with flexible occupancy status for a new owner. Located in Killeen, the property is configured as a small residential income asset with two individually metered units.
Key Highlights
- Duplex with two 1‑bedroom, 1‑bathroom units
- 968 square feet of total property size
- Separate utility meters for each unit
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
6.98%
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 6.98%
Second Best
Apartment 5plus
$110.6K
$96.8K – $129.0K
NOI $7,741 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$232.5K
$203.4K – $271.3K
NOI $16,275 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,251
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer individual utility metering and flexible occupancy options.
Where is this duplex located?
The property is located at 422 W GREEN KILLEEN TX 76541 Killeen, TX.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Duplex with two 1‑bedroom, 1‑bathroom units; 968 square feet of total property size; Separate utility meters for each unit
