Remodeled Duplex with Two
For Sale
$149,500
906 Estelle Avenue, Killeen, TX 76541
Residential, Killeen, TX
Property Size1,615 SF
Lot Size0.20 Acres
Price / SF$92.57
Days on Market48
Property Features for 906 Estelle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2
Interior features
CeilingFans
Appliances
ElectricRange, Refrigerator, SomeElectricAppliances
Subdivision
Killeen Heights North Unit 1st
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
190 to Trimmier Road left, right on Terrace Drive, left on Estelle, duplex is on the right
Special listing conditions
Short Sale
Standard status
Active
APN
110140
Size
1,615 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
KILLEEN HEIGHTS NORTH UNIT 1ST SECTION REVISED, BLOCK 006, LOT 0002
Tax Annual Amount
3342
Legal Description
KILLEEN HEIGHTS NORTH UNIT 1ST SECTION REVISED, BLOCK 006, LOT 0002
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
stainless steel appliances
tankless water heaters
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
VinylSiding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Nexthome Tropicana Realty
(254) 616-1850
Listed By:
Eleonora Santana · License #0503408
(254) 535-0277
Added: Jul 17
Changed: Aug 27
Last Checked: Sep 2 at 6:06PM
MLS# 620018
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 remodeled duplex contains 1,615 square feet across two residential units. The vacant unit offers three bedrooms and one bathroom, while the second unit includes one bedroom and one bathroom and is currently rented. The layout provides distinct living spaces within a compact multifamily property built in 1955.
Interior improvements include luxury vinyl plank flooring throughout, with no carpet, stainless steel appliances, electric ranges, refrigerators, and tankless water heaters. Additional features include ceiling fans, vinyl siding, a composition shingle roof, public water, and public sewer. Short-sale approval is pending.
Interior improvements include luxury vinyl plank flooring throughout, with no carpet, stainless steel appliances, electric ranges, refrigerators, and tankless water heaters. Additional features include ceiling fans, vinyl siding, a composition shingle roof, public water, and public sewer. Short-sale approval is pending.
Key Highlights
- 1,615‑square‑foot duplex on a 0.197‑acre lot
- Unit mix includes 3 bedrooms and 1 bathroom plus 1 bedroom and 1 bathroom
- One unit is rented; the other is vacant for potential owner occupancy
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
$12,914
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
8.64%
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%
$258,280
$258.3K
Cap Rate 7%
$184,486
$184.5K
Cap Rate 9%
$143,489
$143.5K
Market Conditions
NOI Build-Up for 1,615 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
$25.2K $15.60/SF
− Vacancy
−$1.7K −$1.06/SF
EGI
$23.5K $14.54/SF
− OpEx
−$10.6K −$6.54/SF
NOI
$12.9K $8.00/SF
Area
Killeen, TX
Vacancy
6.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$258,280
Cap Rate 7%
$184,486
Cap Rate 9%
$143,489
Alternative Uses
Best Use
Multifamily LT 5
$199.4K
$174.5K – $232.7K
NOI $13,959 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$184.5K
$161.4K – $215.2K
NOI $12,914 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$387.9K
$339.4K – $452.6K
NOI $27,154 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
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 - The property combines an occupied residence with a separate vacant unit suited to an owner occupant.
Where is this duplex located?
The property is located at 906 Estelle Avenue Killeen, TX.
What is the asking price?
The asking price for this property is $149,500.
What are key features of this property?
This property features: 1,615‑square‑foot duplex on a 0.197‑acre lot; Unit mix includes 3 bedrooms and 1 bathroom plus 1 bedroom and 1 bathroom; One unit is rented; the other is vacant for potential owner occupancy
