Updated
For Sale
$324,900
504 Esther Circle, Killeen, TX 76543
Residential, Killeen, TX
Property Size3,132 SF
Lot Size0.19 Acres
Price / SF$103.74
Days on Market60
Property Features for 504 Esther Circle
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 1
Parking features
Driveway
Interior features
CeilingFans, TubShower, BedroomOnMainLevel
Appliances
Dishwasher, Disposal, SomeElectricAppliances, Range
Subdivision
Colonial Heights
Lot features
City Lot, Less Than Quarter Acre
High school
Killeen High School
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
South on 38th Street, right on Atkinson Ave, and left on Esther.
Standard status
Active
APN
95635
Size
3,132 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
COLONIAL HEIGHTS, BLOCK 003, LOT 0016
Tax Annual Amount
6330
Legal Description
COLONIAL HEIGHTS, BLOCK 003, LOT 0016
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1996
Floors in Building
2
Number of units
3
Flooring type
Carpet, Tile
Building materials
BrickVeneer, Masonry
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Jean Augustin · License #0656143
(931) 206-2304
Added: Jun 30
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 618292
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 3,132-square-foot quadplex contains four residential units, each arranged with two bedrooms and one bathroom. Every unit has been updated within the past two years. Interior features include ceiling fans, tub-and-shower bathrooms, carpet and tile flooring, ranges, dishwashers, and disposals. Central electric heating and central air conditioning serve the building, which was constructed in 1996 with brick veneer and masonry components.
The property occupies 0.1892 acres and includes driveway parking. Public water and public sewer serve the site. Composition and shingle roofing are reported, along with main-level bedrooms across the property’s room configuration.
The property occupies 0.1892 acres and includes driveway parking. Public water and public sewer serve the site. Composition and shingle roofing are reported, along with main-level bedrooms across the property’s room configuration.
Key Highlights
- Four‑unit quadplex with 3,132 square feet of building area
- Each unit includes 2 bedrooms and 1 bathroom
- All units updated within the past 2 years
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
$27,070
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
8.33%
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%
$541,400
$541.4K
Cap Rate 7%
$386,714
$386.7K
Cap Rate 9%
$300,778
$300.8K
Market Conditions
NOI Build-Up for 3,132 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
$41.3K $13.20/SF
− Vacancy
−$2.7K −$0.85/SF
EGI
$38.7K $12.35/SF
− OpEx
−$11.6K −$3.70/SF
NOI
$27.1K $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%
$541,400
Cap Rate 7%
$386,714
Cap Rate 9%
$300,778
Alternative Uses
Best Use
Multifamily LT 5
$386.7K
$338.4K – $451.2K
NOI $27,070 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$357.8K
$313.1K – $417.4K
NOI $25,045 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$752.3K
$658.3K – $877.7K
NOI $52,660 @ 7.0% cap · market cap 16.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 76543, TX
30,545
Population
15,300
Households
2
Avg Household Size
30
Median Age
15%
College-Educated
91%
High-School Grad
35.6 sq mi
ZIP Area
858
Density / Sq Mi
$51,239
Median Household Income
$31,712
Median Earnings
$1,099
Median Rent
$140,700
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?
Quadplex - Four updated residential units offer consistent two-bedroom, one-bath layouts with central HVAC and driveway parking.
Where is this quadplex located?
The property is located at 504 Esther Circle Killeen, TX.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Four‑unit quadplex with 3,132 square feet of building area; Each unit includes 2 bedrooms and 1 bathroom; All units updated within the past 2 years
