Duplex with Two 3-Bedroom
For Sale
$299,999
4502 July Drive, Killeen, TX 76549
MULTI_FAMILY - Other - Killeen, TX
Property Size2,400 SF
Lot Size0.21 Acres
Price / SF$124
Days on Market55
Property Features for 4502 July Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 4, Bathroom 5, Bedroom 2, Bathroom 1
Patio and Porch features
Patio, Porch
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
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
Composition, Shingle
Architectural style
Other
Listing Agency:
Home Network Realty
(254) 449-7500
Listed By:
Stephen Owofade · License #0544504
(254) 415-0137
Added: Jun 19
Changed: Aug 3
Last Checked: Aug 12 at 12:06PM
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 duplex features two separate sides, each offering three bedrooms, one full bathroom, and additional bath count as reflected in the room/bath totals provided. Interior finishes include 10' ceilings, freshly painted interiors, tile flooring throughout, and an updated look with upgraded lighting and plumbing fixtures. Each side includes a kitchen with ample cabinet space, built-in microwave, refrigerator, and pantry, along with interior conveniences such as ceiling fans and walk-in closets. Appliances include a dishwasher, disposal, range hood, and range, and the home is served by central electric heating and central air.
Externally, the property has a brick veneer exterior with privacy fencing, a covered front porch, and a side patio. Additional exterior features include porch and patio areas. The roof is composition/shingle, and services include public water.
Built in 2001, the property is situated on a 0.2079-acre lot in Killeen, Bell County, Texas.
Externally, the property has a brick veneer exterior with privacy fencing, a covered front porch, and a side patio. Additional exterior features include porch and patio areas. The roof is composition/shingle, and services include public water.
Built in 2001, the property is situated on a 0.2079-acre lot in Killeen, Bell County, Texas.
Key Highlights
- Duplex with both sides available
- Two 3‑bedroom units; 3/2/1 configuration on each side
- 10' ceilings with tile flooring and freshly painted interiors
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
382
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
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 - Duplex on a 0.21-acre lot with brick exterior, tile floors, central electric HVAC, and two covered patio/porch areas.
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: Duplex with both sides available; Two 3‑bedroom units; 3/2/1 configuration on each side; 10' ceilings with tile flooring and freshly painted interiors
