Updated 4-Unit
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 Market96
Property Features for 504 Esther Circle
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 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
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1996
Floors in Building
2
Number of units
3
Flooring type
Tile, Carpet
Building materials
BrickVeneer, Masonry
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Jean Augustin · License #0656143
(931) 206-2304
Added: Jun 30
Changed: Sep 16
Last Checked: Oct 3 at 3:06AM
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.
Located at 504 Esther Circle in Killeen, Texas, this 3,132-square-foot quadplex contains four residential units. Each unit offers two bedrooms and one bathroom, with updates completed within the past 2 years. Interior finishes include tile and carpet flooring, ceiling fans, tub-and-shower bathrooms, ranges, dishwashers, and disposals.
Built in 1996 on a 0.1892-acre lot, the property features brick veneer and masonry construction with a composition shingle roof. Central electric heating and central air conditioning serve the building. Public water and public sewer are available, and driveway parking is provided.
Built in 1996 on a 0.1892-acre lot, the property features brick veneer and masonry construction with a composition shingle roof. Central electric heating and central air conditioning serve the building. Public water and public sewer are available, and driveway parking is provided.
Key Highlights
- Four‑unit quadplex with 3,132 square feet of property size
- Each unit has 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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature two-bedroom layouts, recent updates, 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 property size; Each unit has 2 bedrooms and 1 bathroom; All units updated within the past 2 years
