2314 Andover Dr · Killeen, TX 76542

$479,999

None bd · 2.0 ba · 4,012 sqft · MultiFamily public records · 73 Days on market

Built 1972 4,011 sqft lot $120/sqft · 24% above area Est $387k · 24% over

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.7/30.0
• DSCR +8.0/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks

Unlock long-term cash flow with this fully leased value-add 6-plex located in the heart of Killeen. 2314 Andover Dr features a favorable unit mix of (4) two-bedroom, one-bath and (2) one-bedroom, one-bath units across a single structure on a spacious residential lot. With stable tenants in place and upside through light renovations or strategic lease increases, this asset offers immediate returns with room to grow. Located just minutes from Fort Cavazos and major commercial corridors, the property sits in a high-demand rental market with historically strong occupancy and steady turnover-ideal for investors seeking consistency with low operating complexity.

Key facts

• 4,011 sq ft lot
• 12 parking spots
• Built 1972

Tags

• SPACIOUS RESIDENTIAL LOT
• HIGH-DEMAND RENTAL MARKET
• HISTORICALLY STRONG OCCUPANCY

What this means for you Summary

Snapshot

• This is a 4×2bd/1ba + 2×1bd/1ba units multifamily listed at $480k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $168/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $480k).
• Recommended offer: $451k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.9% in Killeen — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#853 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, amenities D, employment D.
• Killeen ISD (urban): math 31% / reading 38% proficiency, ranked #524 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.9%/yr); 643 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,222 units permitted in Bell County in 2024 (246 in 5+ unit buildings).
• At $5,551/mo this rent would consume 90% of the median local household income ($74k/yr) (locally 1167% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Bell County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask is 37% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $125k; list at $480k implies a 284% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $451,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 7.2

CMA / ARV

• ARV (median comp): $387,304
• List price: $479,999
• Delta: 23.93%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2800 Cantabrian Dr	0.62mi	12/8.0	4,536 (+13%)	17mo	$439,000	$97	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.78×
• Total profit: $-29,858
• Equity at exit: $71,569

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-5,875
• Equity at exit: $41,502

Cash invested: $134,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76542

• Home prices YoY: -21.7%
• Rents YoY: -1.9%
• Active inventory: 643
• Price-to-rent: 41.7×

Monthly cashflow live

• Estimated rent: $5,551 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$662 /mo · $7,946/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,166
• Net cashflow: $1,006

Break-even live

Break-even rent $4,278

Max offer price $479,999

Occupancy floor 77%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,840
▸ 2× units	1	1	$1,712
Total (6 units)			$5,551

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Alpine St Unit D Killeen, TX	2.0	1.0	5110	$850	$0.17	23d	1	0.38mi
508 Alpine St Killeen, TX	2.0	1.0	3236	$745	$0.23	43d	1	0.41mi
2105 Jennifer Dr Unit A Killeen, TX	3.0	2.0	4712	$799	$0.17	43d	1	0.48mi
3307 Toledo Dr Unit B Killeen, TX	3.0	2.0	4536	$750	$0.17	23d	1	0.50mi
2801 Cantabrian Dr Unit C Killeen, TX	3.0	2.0	4536	$850	$0.19	43d	1	0.57mi
2802 Cantabrian Dr Killeen, TX	3.0	2.0	4592	$950	$0.21	43d	1	0.58mi
3412 Cantabrian Dr Unit C Killeen, TX	3.0	2.0	4536	$845	$0.19	43d	1	0.62mi
3402 Cantabrian Dr Unit B Killeen, TX	3.0	2.0	4640	$850	$0.18	43d	1	0.62mi
3803 Ys Pak Ct Unit C Killeen, TX	2.0	1.5	3388	$775	$0.23	43d	1	0.72mi
1103 Circle M Dr Unit B Killeen, TX	2.0	1.0	3430	$650	$0.19	43d	1	0.76mi
1202 Covey Ln Unit D Killeen, TX	2.0	1.5	4150	$845	$0.20	43d	1	1.07mi
1308 Covey Ln Unit A Killeen, TX	2.0	1.5	4150	$925	$0.22	13d	1	1.14mi
2109 Hinkle Ave Killeen, TX	2.0	1.0	3426	$650	$0.19	23d	1	1.20mi
1110 Horizon Dr Unit C Killeen, TX	2.0	1.0	3180	$900	$0.28	43d	1	1.32mi

Listing history 22 events

1. 2023-06-09
   soldstatus
2. 2023-06-09
   soldstatus
3. 2023-05-22
   status Pending
4. 2023-05-19
   listed $349,900 Active
5. 2022-06-22
   price $550
6. 2019-07-25
   historical
7. 2019-04-26
   status Pending with Option
8. 2019-04-11
   status Active
9. 2019-04-08
   status Pending with Option
10. 2019-03-25
    listed $185,000 Active
11. 2013-11-01
    soldstatus
12. 2013-10-28
    soldstatus $125,000
13. 2013-08-22
    listed $139,900
14. 2013-06-05
    historical
15. 2012-06-21
    listed $154,900
16. 2012-01-05
    soldstatus
17. 2008-07-10
    soldstatus
18. 2008-06-02
    soldstatus
19. 2008-04-01
    soldstatus
20. 2001-08-03
    soldstatus
21. 1996-07-03
    soldstatus
22. 1993-09-23
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $7,946 · $662/mo
• Projected year-2 tax: $8,784 · $732/mo
• Expected delta: +$838/yr (+$70/mo · 10.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,612
• − Mortgage interest: −$26,887
• − Property taxes: −$7,946
• − Insurance: −$2,400
• − Repairs & maintenance: −$5,329
• − Management: −$5,329
• − Depreciation: −$13,964
• Taxable income: $4,757
• Est. tax owed @ 24.0%: −$1,142
• After-tax cash flow: $10,930/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Killeen ISD
• NCES district ID: 4825660
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $47,665
• Composite: 29.69/100
• National rank: #6458
• State rank: #524 of 826 in TX

Livability — Killeen

• Score: 63/100
• State rank: #853
• US rank: #15359

Category grades

Amenities D Commute F Cost of living A+ Crime D- Employment D Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Killeen, TX
• County: Bell County · 345,090 people
• City population: 163,398
• Metro: Killeen-Temple, TX
• Population (ZIP): 53,892
• Household income: $74,055
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1167.0

Population outlook (Bell County) Hauer SSP2

• Today (2025): 371,114 people
• By 2030: 389,104 · +4.8%
• By 2040: 420,592 · +13.3%
• By 2050: 447,779 · +20.7%
• By 2075: 499,130 · +34.5%
• By 2100: 505,680 · +36.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Black 34% White 27% Hispanic / Latino 26% Two or more races 17% Asian 5%
• Hispanic origin (detail): Mexican 13% Puerto Rican 9%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 79% English-only · Spanish 15% Korean 1% German/W. Germanic 1%

Political lean MEDSL · Bell

• 2024 margin: R (+16.2) · D 41.3% · R 57.6% · Other 1.1%
• 2008→2024 swing: -6.5pp toward R · 2008: -9.8pp · 2024: -16.2pp
• All cycles: 2024: R+16.2 2020: R+8.5 2016: R+15.1 2012: R+16.4 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.94%
• Current HPI: 158.4385
• Rent YoY: ▼ -1.85%
• Metro: Killeen-Temple, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+125.9% since first listed

22 events — show timeline

• 2023-06-09 Sold (Public Records) — Public Records
• 2023-06-09 Sold (Public Records) — Public Records
• 2023-05-22 Pending — CTXMLS
• 2023-05-19 Listed $349,900 CTXMLS
• 2022-06-22 Price Changed $550 RENT.
• 2019-07-25 Listing Removed — CTXMLS
• 2019-04-26 Pending — CTXMLS
• 2019-04-11 Relisted — CTXMLS
• 2019-04-08 Pending — CTXMLS
• 2019-03-25 Listed $185,000 CTXMLS
• 2013-11-01 Sold (Public Records) — Public Records
• 2013-10-28 Sold (MLS) $125,000 CTXMLS
• 2013-08-22 Listed $139,900 CTXMLS
• 2013-06-05 Listing Removed — CTXMLS
• 2012-06-21 Listed $154,900 CTXMLS
• 2012-01-05 Sold (Public Records) — Public Records
• 2008-07-10 Sold (Public Records) — Public Records
• 2008-06-02 Sold (Public Records) — Public Records
• 2008-04-01 Sold (Public Records) — Public Records
• 2001-08-03 Sold (Public Records) — Public Records
• 1996-07-03 Sold (Public Records) — Public Records
• 1993-09-23 Sold (Public Records) — Public Records

Property tax history

+10.7%/yr

Latest (2025): $7,946 · +0.4% YoY. Source: county tax records.