Brick Duplex with Covered
For Sale
$299,999
4502 July Drive, Killeen, TX 76549
Residential, Killeen, TX
Property Size2,400 SF
Lot Size0.21 Acres
Price / SF$124
Days on Market93
Property Features for 4502 July Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 5, Bathroom 3
Patio and Porch features
Porch, Patio
Interior features
CeilingFans, DoubleVanity, JettedTub, PrimaryDownstairs, MainLevelPrimary, WalkInClosets, Pantry, WalkInPantry
Exterior features
CoveredPatio, Porch
Appliances
Dishwasher, ElectricWaterHeater, Disposal, Refrigerator, RangeHood, SomeElectricAppliances, Range
Subdivision
Lonesome Dove Sub Phas
Lot features
City Lot, Less Than Quarter Acre
Elementary school
Willow Springs Elementary School
Middle school
Palo Alto Middle School
High school
Shoemaker High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
West Stan Schlueter Lp, left on Robinette, Right on Gus, Left on July
Standard status
Active
APN
232352
Size
2,400 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LONESOME DOVE SUBDIVISION PHASE TWO, BLOCK 007, LOT 0004
Legal Description
LONESOME DOVE SUBDIVISION PHASE TWO, BLOCK 007, LOT 0004
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
soaring 10' ceilings
cabinet spaces
built-in microwave
refrigerator
pantry
tile flooring
ceramic tile surrounds
upgraded lighting and plumbing fixtures
privacy fencing
covered front porch
side patio
Building Details
Year built
2001
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
BrickVeneer
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Home Network Realty
(254) 449-7500
Listed By:
Stephen Owofade · License #0544504
(254) 415-0137
Added: Jun 19
Changed: Sep 14
Last Checked: Sep 19 at 4:06PM
MLS# 617467
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 2,400-square-foot duplex was built in 2001 and includes two currently available units. Interior details include 10-foot ceilings, freshly painted surfaces, tile flooring, generous kitchen cabinetry, pantry storage, upgraded lighting and plumbing fixtures, and ceramic tile bathroom surrounds. Appliances include refrigerators, ranges, built-in microwaves, dishwashers, and disposals. Central electric heating and cooling serve the property.
The 0.2079-acre site features a brick veneer exterior, privacy fencing, covered front porch, and side patio. Public water serves the property, and the roof is finished with composition shingles. Located in Killeen, Texas, the duplex offers an owner-occupant the opportunity to occupy one unit while the other remains available for rent.
The 0.2079-acre site features a brick veneer exterior, privacy fencing, covered front porch, and side patio. Public water serves the property, and the roof is finished with composition shingles. Located in Killeen, Texas, the duplex offers an owner-occupant the opportunity to occupy one unit while the other remains available for rent.
Key Highlights
- 2,400 square feet on a 0.2079‑acre lot
- Duplex with both units currently available
- 10‑foot ceilings, fresh paint, and tile flooring throughout
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
$20,743
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
6.91%
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%
$414,860
$414.9K
Cap Rate 7%
$296,329
$296.3K
Cap Rate 9%
$230,478
$230.5K
Market Conditions
NOI Build-Up for 2,400 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
$31.7K $13.20/SF
− Vacancy
−$2.0K −$0.85/SF
EGI
$29.6K $12.35/SF
− OpEx
−$8.9K −$3.70/SF
NOI
$20.7K $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%
$414,860
Cap Rate 7%
$296,329
Cap Rate 9%
$230,478
Alternative Uses
Best Use
Multifamily LT 5
$296.3K
$259.3K – $345.7K
NOI $20,743 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$274.2K
$239.9K – $319.9K
NOI $19,192 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$576.5K
$504.4K – $672.5K
NOI $40,352 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
381
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?
Duplex - Both units are currently available, with updated interiors, private outdoor areas, and included kitchen appliances.
Where is this duplex located?
The property is located at 4502 July Drive Killeen, TX.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: 2,400 square feet on a 0.2079‑acre lot; Duplex with both units currently available; 10‑foot ceilings, fresh paint, and tile flooring throughout
