5301 Morning Glen Ln · Killeen, TX 76542

$299,900

6 bd · 1.0 ba · 2,454 sqft · MultiFamily public records · 96 Days on market

Built 1999 8,520 sqft lot $122/sqft · at area comps Est $299k · at est.

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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 +14.8/30.0
• ARV discount +7.4/15.0
• DSCR +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Opportunity Time! You said you were waiting for the right time to get into the real estate business. Well here is your entry into that world, this is a BIG BUILDING. If you are a buyer that intends to live in the building, we can show you how to buy this property with NO MONEY DOWN. That's right, your wildest dream come true. Just look at the advantages of owing instead of renting. Number One, you build equity over time. Number Two, your tenant helps you make the payment. Number Three, this is such a smart move on your part. In addition, this property has two units, each unit has three bedrooms, two full baths, fully equipped kitchen, yes, nothing to buy. Comes with a home warranty to cover the appliances. Seller upgrades include a very expensive maintenance free metal fence. Metal security gates for additional peace of mind. And a quick closing, you can move in next month. NICE! Hurry, call us today to help you buy this building.

Key facts

• Home warranty
• Metal security gates
• Two units

Tags

• TWO UNITS
• FULLY EQUIPPED KITCHEN
• HOME WARRANTY
• MAINTENANCE FREE METAL FENCE
• METAL SECURITY GATES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $82 ($986/yr) — positive. Per door: $41/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (6.7% below list).
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: amenities D, employment D, crime 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.
• Zoned schools: Timber Ridge El (math 27% / reading 33%, grade F, #2,500 of 4,322 statewide, top 58%, 796 students, 55% FRL); Liberty Hill Middle (math 29% / reading 29%, grade F, #1,103 of 1,662 statewide, top 67%, 694 students, 64% FRL); C E Ellison H S (math 20% / reading 51%, grade F, #941 of 1,632 statewide, top 58%, 1,682 students, 57% FRL).
• Market conditions: Rents soft (-1.9%/yr); 653 active listings in the ZIP; 3,222 units permitted in Bell County in 2024 (246 in 5+ unit buildings).
• At $2,799/mo this rent would consume 45% 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 $2k of loan paydown is wiped out by about $9k 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 96 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $300k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% 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 $272,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 8.9

CMA / ARV

• ARV (median comp): $299,395
• List price: $299,900
• Delta: 0.17%
• Verdict: FAIR
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.9%
• Equity multiple: 0.39×
• Total profit: $-51,489
• Equity at exit: $44,716

10-year hold

• IRR: -17.5%
• Equity multiple: 0.17×
• Total profit: $-69,484
• Equity at exit: $25,930

Cash invested: $83,972 (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: 653
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,799 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$431 /mo · $5,176/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $82

Break-even live

Break-even rent $2,695

Max offer price $299,900

Occupancy floor 92%

Sensitivity live

Price	-10% $252	-5% $167	+0% $82	+5% $-3	+10% $-88
Rent	-10% $-139	-5% $-28	+0% $82	+5% $193	+10% $303
Rate	-1.0pp $233	-0.5pp $158	base $82	+0.5pp $4	+1.0pp $-75

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,800
Total (2 units)			$2,799

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-04-14
   price $299,900 944-char remark

   Show marketing remark (944 chars)

   Opportunity Time! You said you were waiting for the right time to get into the real estate business. Well here is your entry into that world, this is a BIG BUILDING. If you are a buyer that intends to live in the building, we can show you how to buy this property with NO MONEY DOWN. That's right, your wildest dream come true. Just look at the advantages of owing instead of renting. Number One, you build equity over time. Number Two, your tenant helps you make the payment. Number Three, this is such a smart move on your part. In addition, this property has two units, each unit has three bedrooms, two full baths, fully equipped kitchen, yes, nothing to buy. Comes with a home warranty to cover the appliances. Seller upgrades include a very expensive maintenance free metal fence. Metal security gates for additional peace of mind. And a quick closing, you can move in next month. NICE! Hurry, call us today to help you buy this building.

2. 2026-03-30
   price $299,900 1047-char remark

   Show marketing remark (1047 chars)

   There are Five GREAT Reasons you should buy this Two Unit Apartment Building before you buy your first home. Well here is your entry into that world, this is a BIG BUILDING. If you are a buyer that intends to live in the building, we can show you how to buy this property with little or NO MONEY DOWN. That's right, your wildest dream come true. Just look at the advantages of owing instead of renting. Number One, you build equity over time. Number Two, your tenant helps you make the payment. Number Three, this is such a smart move on your part. Reach Out To Me for the TWO most important Reasons to by this building. Each unit has three bedrooms, two full baths, fully equipped kitchen, yes, nothing to buy. And there is a modern, Ruby Red Washer & Dryer Combo in the owners unit and it stays. There is a transferrable home warranty to cover the appliances. Seller upgrades include a very expensive maintenance free metal fence. Consider it SOLD and you can move in next month. .NICE! Hurry, call us today to help you buy this building.

3. 2026-02-19
   listed $324,900 Active 944-char remark

   Show marketing remark (944 chars)

   Opportunity Time! You said you were waiting for the right time to get into the real estate business. Well here is your entry into that world, this is a BIG BUILDING. If you are a buyer that intends to live in the building, we can show you how to buy this property with NO MONEY DOWN. That's right, your wildest dream come true. Just look at the advantages of owing instead of renting. Number One, you build equity over time. Number Two, your tenant helps you make the payment. Number Three, this is such a smart move on your part. In addition, this property has two units, each unit has three bedrooms, two full baths, fully equipped kitchen, yes, nothing to buy. Comes with a home warranty to cover the appliances. Seller upgrades include a very expensive maintenance free metal fence. Metal security gates for additional peace of mind. And a quick closing, you can move in next month. NICE! Hurry, call us today to help you buy this building.

4. 2026-02-13
   listed $324,900 Active 1047-char remark

   Show marketing remark (1047 chars)

   There are Five GREAT Reasons you should buy this Two Unit Apartment Building before you buy your first home. Well here is your entry into that world, this is a BIG BUILDING. If you are a buyer that intends to live in the building, we can show you how to buy this property with little or NO MONEY DOWN. That's right, your wildest dream come true. Just look at the advantages of owing instead of renting. Number One, you build equity over time. Number Two, your tenant helps you make the payment. Number Three, this is such a smart move on your part. Reach Out To Me for the TWO most important Reasons to by this building. Each unit has three bedrooms, two full baths, fully equipped kitchen, yes, nothing to buy. And there is a modern, Ruby Red Washer & Dryer Combo in the owners unit and it stays. There is a transferrable home warranty to cover the appliances. Seller upgrades include a very expensive maintenance free metal fence. Consider it SOLD and you can move in next month. .NICE! Hurry, call us today to help you buy this building.

5. 2015-05-20
   soldstatus
6. 2015-05-19
   soldstatus $145,000
7. 2014-10-17
   listed $145,000
8. 2014-10-09
   historical
9. 2014-10-09
   historical
10. 2014-04-09
    listed $148,000
11. 2014-04-09
    listed $148,000
12. 2014-04-09
    listed $148,000
13. 2014-04-09
    historical
14. 2008-07-08
    historical
15. 2008-07-08
    historical
16. 2008-04-10
    listed
17. 2008-01-09
    listed $146,000
18. 2007-10-23
    historical
19. 2007-04-23
    listed $146,000
20. 2005-06-16
    soldstatus
21. 2002-04-08
    soldstatus
22. 1986-12-29
    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: $5,176 · $431/mo
• Projected year-2 tax: $5,488 · $457/mo
• Expected delta: +$312/yr (+$26/mo · 6.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $33,588
• − Mortgage interest: −$16,799
• − Property taxes: −$5,176
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,687
• − Management: −$2,687
• − Depreciation: −$8,724
• Taxable loss: −$3,985
• Est. tax savings @ 24.0%: +$957
• After-tax cash flow: $1,943/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

+105.4% since first listed

22 events — show timeline

• 2026-04-14 Price Changed $299,900 Unlock MLS
• 2026-03-30 Price Changed $299,900 CTXMLS
• 2026-02-19 Listed $324,900 Unlock MLS
• 2026-02-13 Listed $324,900 CTXMLS
• 2015-05-20 Sold (Public Records) — Public Records
• 2015-05-19 Sold (MLS) $145,000 CTXMLS
• 2014-10-17 Listed $145,000 CTXMLS
• 2014-10-09 Listing Removed — CTXMLS
• 2014-10-09 Listing Removed — CTXMLS
• 2014-04-09 Listing Removed — CTXMLS
• 2014-04-09 Listed $148,000 CTXMLS
• 2014-04-09 Listed $148,000 CTXMLS
• 2014-04-09 Listed $148,000 CTXMLS
• 2008-07-08 Listing Removed — CTXMLS
• 2008-07-08 Delisted — Unlock MLS
• 2008-04-10 Listed — Unlock MLS
• 2008-01-09 Listed $146,000 CTXMLS
• 2007-10-23 Listing Removed — CTXMLS
• 2007-04-23 Listed $146,000 CTXMLS
• 2005-06-16 Sold (Public Records) — Public Records
• 2002-04-08 Sold (Public Records) — Public Records
• 1986-12-29 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $5,176 · +7.3% YoY. Source: county tax records.