Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Fully Occupied Duplex Investment Title is generated by Realmo AI

    506 W Green Avenue, Killeen, TX 76541

    View on Map
    Claim this Listing
    For Sale
    $175,000

    MULTI_FAMILY - Killeen, TX

    Lot size:
    0.21 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    62
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 506 W Green Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1
    Parking
    4
    Parking features
    Assigned
    Interior features
    DecorativeDesignerLightingFixtures, EatInKitchen, HighSpeedInternet, Pantry, CableTv
    Fencing
    Fenced
    Appliances
    Dishwasher, ElectricRange, ElectricWaterHeater, Refrigerator
    Standard status
    Active
    APN
    17945
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    CARTER, BLOCK 002, LOT 0004
    Tax Annual Amount
    3274

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating), Heat Pump (Heating)
    Cooling system
    Central Air, Electric, Attic Fan, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1998
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Block
    Roof type
    Composition

    We can help!

    Listing Contact
    Sinlo Lok

    Listing agent Sinlo Lok License #0598291

    Listing office Q.Co Dallas, TX

    Listing date Apr 3, 2026

    MLS# 21063947 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully occupied duplex with 4 identical units, each offering 2 bedrooms and 1 bathroom
    • Unit A monthly rent $950 on a month‑to‑month basis; Unit B monthly rent $925 with expiration July 2026
    • Utilities are separately metered, with tenant‑paid utilities
    • Each unit includes its own private backyard plus assigned front parking spaces
    • Built in 1998 with block construction and a composition roof
    • Vinyl flooring throughout; central air and electric/heat pump heating with attic fan

    Overview

    This fully occupied duplex offers four spacious, identical units, each configured with two bedrooms and one bathroom. Interiors include vinyl plank flooring throughout, with kitchens that open to living and dining areas. For tenant comfort and privacy, each unit has its own private backyard space. The property also provides assigned front parking spaces, supporting convenient day-to-day access for residents. Utilities are separately metered, with tenants paying their own utilities.

    Located in Killeen, the property is positioned for strong demand tied to the nearby Fort Cavazos (Fort Hood) area and is described as being closer to Austin. The offering also notes easy access to Metroplex Hospital as well as schools and shopping.

    Designed for investors seeking a straightforward residential income asset, this duplex provides a consistent unit mix with identical layouts and private outdoor space for each tenant. With current rents in place, it may appeal to both experienced operators and buyers looking to grow a rental portfolio while maintaining manageable unit turnover and utility separation. Buyer and buyer’s agent are encouraged to verify all information provided, including measurements and any applicable details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Dental Office Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Killeen
    County
    Bell
    State
    Texas
    Longitude
    -97.733326
    Latitude
    31.126037

    Nearby Similar for Sale

    • $585,000
      8,400 SF

      Two-Story Office Building in Killeen

      Professional office building near Historic Downtown Killeen.
      603 N 8th Street, Killeen, TX 76541
      View Details
    • $750,000
      6,700 SF

      Turn-Key Auto Body Facility

      Fully operational collision repair shop in Killeen, Texas.
      621 S 2nd Street, Killeen, TX 76541
      View Details
    • $500,000
      7,420 SF

      Downtown Killeen Redevelopment Opportunity

      Value-add redevelopment opportunity in Killeen's Historic Overlay District.
      403 N Gray Street, Killeen, TX 76541
      View Details
    • $799,000

      High-Exposure Office Building on I-14

      Professional office building with high visibility and accessibility.
      701 W Central Texas Expressway, Killeen, TX 76541
      View Details
    • $799,000
      3,474 SF

      High-Exposure Office Building on I-14

      Professional office building with high visibility and accessibility.
      701 W Central Texas Expressway, Killeen, TX 76541
      View Details
    • $1,700,000
      51,060 SF

      Killeen Commercial Property For Sale

      Remodeled commercial property featuring multiple buildings and extensive amenities.
      2200 Trimmier Road, Killeen, TX 76541
      View Details
    • $420,000
      2,400 SF

      Commercial Flex Space with Warehouse

      New flex building combines heated office/showroom space with a warehouse bay door and service-ready access.
      10378 Oakalla Road, Killeen, TX 76549
      View Details
    • $350,000
      2,400 SF

      Killeen Warehouse with Expansion Potential

      Versatile warehouse on one acre with high traffic visibility.
      802 W S Young Drive, Killeen, TX 76543
      View Details
    • $450,000
      4,000 SF

      Killeen Church with Arched Ceilings

      Church property featuring wooden arched ceilings and stained glass windows.
      1207 Metropolitan Drive, Killeen, TX 76541
      View Details
    • $399,000
      42,820 SF

      Killeen Commercial Property For Sale

      High-traffic location suitable for redevelopment or expansion.
      3701 Lake Road, Killeen, TX 76543
      View Details
    • $250,000
      10,541 SF

      High-Exposure Corner Lot in Killeen

      Commercial building on a high-exposure corner lot in downtown Killeen.
      623 S 2nd Street, Killeen, TX 76541
      View Details
    • $500,000

      Downtown Redevelopment Retail-Office Building

      Fully demoed structural shell with flexible use potential in a historic downtown overlay district.
      403 N Gray Street, Killeen, TX 76541
      View Details

    FAQs

    What type of property is this?
    Duplex - Four identical 2-bedroom, 1-bath units with private backyards and separately metered utilities, ideal for stable rental income.
    Where is this duplex located?
    The property is located at 506 W Green Avenue Killeen, TX.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Fully occupied duplex with 4 identical units, each offering 2 bedrooms and 1 bathroom; Unit A monthly rent $950 on a month‑to‑month basis; Unit B monthly rent $925 with expiration July 2026; Utilities are separately metered, with tenant‑paid utilities
    (214) 923-0288
    We can help!
    Listing Contact
    Sinlo Lok
    Real Estate License ID: 0598291
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    506 W Green Avenue, Killeen, TX 76541
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!