Brick-Veneer
For Sale
$340,000
5701 Redstone Drive, Killeen, TX 76543
Residential, Killeen, TX
Property Size3,528 SF
Lot Size0.23 Acres
Price / SF$96.37
Days on Market107
Property Features for 5701 Redstone Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 7, Bathroom 6, Bedroom 3, Bathroom 7, Bedroom 4, Bathroom 8, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 8, Bathroom 5
Appliances
Dryer, Dishwasher, ElectricRange, Washer, SomeElectricAppliances, Range
Subdivision
Sunshadow Cove Ph Three
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Head north on N Roy Reynolds Drive and turn right onto Redstone Drive
Standard status
Active
APN
232544
Size
3,528 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNSHADOW COVE PHASE THREE, BLOCK 003, LOT 0014
Tax Annual Amount
6353
Legal Description
SUNSHADOW COVE PHASE THREE, BLOCK 003, LOT 0014
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
2
Number of units
4
Flooring type
Tile, Carpet
Building materials
BrickVeneer
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty, Waco
(254) 751-7900
Listed By:
Maria Barrientos · License #0744367
(254) 466-7103
Added: May 14
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 612479
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 3,528-square-foot quadplex contains four residences of approximately 882 square feet each. Every unit offers two bedrooms, 1.5 bathrooms, an open living area, breakfast bar, and washer and dryer hookups. Interior finishes include tile, vinyl, and carpet flooring, with central heating and central air. The building was completed in 2002 and features brick-veneer construction, a composition shingle roof, public water, and convenient parking.
The property is located at 5701 Redstone Drive in Killeen, within the Sunshadow Cove neighborhood. Fort Cavazos, shopping, dining, schools, and major roadways are described as minutes away. Occupied units are available for showing during the option period.
The property is located at 5701 Redstone Drive in Killeen, within the Sunshadow Cove neighborhood. Fort Cavazos, shopping, dining, schools, and major roadways are described as minutes away. Occupied units are available for showing during the option period.
Key Highlights
- Four‑unit quadplex with 3,528 square feet of total property size
- Each unit is approximately 882 square feet with 2 bedrooms and 1.5 bathrooms
- Built in 2002 with brick veneer and composition roofing
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
$30,493
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
8.97%
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%
$609,860
$609.9K
Cap Rate 7%
$435,614
$435.6K
Cap Rate 9%
$338,811
$338.8K
Market Conditions
NOI Build-Up for 3,528 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
$46.6K $13.20/SF
− Vacancy
−$3.0K −$0.85/SF
EGI
$43.6K $12.35/SF
− OpEx
−$13.1K −$3.70/SF
NOI
$30.5K $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%
$609,860
Cap Rate 7%
$435,614
Cap Rate 9%
$338,811
Alternative Uses
Best Use
Multifamily LT 5
$435.6K
$381.2K – $508.2K
NOI $30,493 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$403.0K
$352.7K – $470.2K
NOI $28,212 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$847.4K
$741.5K – $988.6K
NOI $59,318 @ 7.0% cap · market cap 17.45%
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
63
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-unit income property with individual residences, central HVAC, washer and dryer connections, and on-site parking.
Where is this quadplex located?
The property is located at 5701 Redstone Drive Killeen, TX.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,528 square feet of total property size; Each unit is approximately 882 square feet with 2 bedrooms and 1.5 bathrooms; Built in 2002 with brick veneer and composition roofing
