Confidential Offering Memorandum · Echelon Investment Properties
709–713 Bremser Street
Offering Price
$199,900
Price / Unit
$66,633
Pro Forma Cap
11.31%
GRM
6.35x
Levered 5-Yr IRR
~33%
The Asset
THREE DOORS. ONE STREET.
Three side-by-side 2BD/1BA homes at 709, 711, and 713 Bremser Street in Killeen. Built in 2010, each unit is approximately 580 square feet and has operated as a cohesive portfolio under single ownership.
Two units carry long-term tenants on month-to-month leases. Unit 713 is vacant and rent-ready, freshly painted with new carpet, allowing an incoming buyer to lease immediately and capture full pro forma income from day one.
Price
$199,900
$66,633 / unit
Units
3
All 2BD/1BA · 580 SF
Built
2010
Side-by-side portfolio
Submarket
76541
Killeen · Fort Cavazos
PHOTO GALLERY
Asset Views
Click any image to open the full gallery.
Investment Thesis
Low entry. High yield. Built-in upside.
01
Below-Market Rents
Unit 709 leases at $750/mo, well below market. Natural turnover resets to $875/mo and lifts NOI immediately with zero capital deployment.
02
Rent-Ready Vacancy
Unit 713 is vacant with fresh paint and new carpet. No renovation required. An incoming buyer can lease within 30 days of closing.
03
Simple, Scalable Operations
Three identical 2BD/1BA floor plans on the same street. Individually metered utilities, tenants pay all utilities, minimal management overhead.
04
Fort Cavazos Demand Floor
Killeen is anchored by Fort Cavazos with 45,000+ active-duty personnel. Military workforce demand provides structural occupancy not found in typical markets.
The Math
+$12,000/yr of documented upside.
Lease 713 at $875/mo and bring 709 to comp on natural turnover. Upside traces to two specific unit numbers. No speculative market bumps required.
NOI Lift
+$12,000
Annual · in-place to stabilized
Pro Forma Cap Rate
11.31%
At $199,900 · 5.31% in-place
Pro Forma Build · Annual
Excerpt · OM p. 3
Returns · Leveraged (75% LTV)
~17.8% cash-on-cash · 1.65x DSCR · 15.1% debt yield · ~32–34% projected 5-yr IRR.
Projections based on seller-provided assumptions: self-management, no vacancy or capex reserve. Debt illustrative at 6.5% / 30-yr amortization. Buyer to underwrite independently.
Valuation Frame
$66,633 / unit is the search filter.
At $66,633 per door against an 11.31% pro forma cap and 6.35x GRM, this portfolio delivers yields that are increasingly rare in the current rate environment, with a structural demand floor from Fort Cavazos.
List Price
$199,900
$66,633/unit
Pro Forma Cap Rate
11.31%
Stabilized · 5.31% in-place
Gross Rent Multiplier
6.35x
Pro forma · 10.25x in-place
Levered 5-Yr IRR
~33%
75% LTV · ~18% all-cash
In-Place Income
Current rent roll.
Two units occupied on month-to-month leases. 713 is vacant, freshly painted with new carpet, and ready to lease at closing. Tenants pay all utilities; meters are individual.
Confidential
Rent roll locked
Tenant, rent, and lease details are released to qualified principals. Verify your information to unlock and receive the full OM.
Demographics · Killeen Submarket
A renter-majority pocket of Central Texas.
Within three miles: 119,417 residents, $53,976 median household income, and 1.6 renters for every homeowner. The demand pool sits squarely inside the 25–45 cohort that anchors workforce-housing absorption around Fort Cavazos.
Population (3-mi)
119,417
197,598 at 5 miles
Median HH Income (3-mi)
$53,976
$61,566 at 5 miles
Median Age (3-mi)
27.5
Prime renter cohort
Daytime Employees (3-mi)
91,300
146,269 at 5 miles
Household Income · 3-Mile Radius
Workforce-income distribution.
<$25K
8,444
$25–50K
11,684
$50–100K
15,249
$100–150K
4,995
>$150K
2,711
Age Cohort · 3-Mile Radius
25–45 dominates the rental pool.
<20
35,398
20–25
17,914
25–45
38,144
45–65
18,866
65+
7,881
Tenure Mix · 3-Mile
61% renters.
A 1.6:1 renter-to-owner ratio inside three miles, widening to roughly 2.4:1 at the one-mile ring around Bremser Street. Sustained rental demand underwrites the lease-up of Unit 713.
Renters
26,480 · 61%
Homeowners
16,603 · 39%
Source: 2024 demographic estimates · 1, 3, and 5-mile radii from 709 Bremser Street.
Process & Diligence
From LOI to close in 45 days.
Portfolio sale only. No individual unit sales. Standard TREC contract. Seller is responsive and the diligence package is staged and available on signed CA.
- Active rent roll · 3 units
- Unit-by-unit lease summaries
- Tax bills · last 2 years
- Insurance + flood policy declarations
- Tenant payment history
- Make-ready scope for Unit 713
- Cash, conventional, or DSCR financing considered
- Standard TREC due diligence period
Day 0
LOI Accepted
Terms agreed · earnest money posted · diligence opens
Day 1–14
Property Diligence
Unit walkthroughs · inspections · roof, HVAC, mechanicals
Day 14–30
Financial & Legal
Tax / insurance verification · title commitment · estoppels
Day 30–40
Loan Commitment
Conventional or DSCR financing finalized
Day 45
Close
Funds wired · keys & rent roll transfer · operations handoff
Location Read
Killeen · the Fort Cavazos market.
- Anchored by Fort Cavazos · the largest active-duty Army installation in the U.S.
- 45,000+ active-duty personnel sustain a deep, recurring rental demand base
- Killeen population ~153,000 · historical rental vacancy in the 5–8% range
- $700–$900/month rentals absorb quickly with strong long-term occupancy
709 – 713 Bremser Street · Killeen, TX 76541
Presented By
Taylor Sherwood
Echelon Property Group · eXp Realty
Echelon Property Group
Represented by the Investment Properties team
Tours by appointment.
CA required for full diligence package and seller financials. Offers reviewed as received.
echelonpropertygroup.com · @theinvestorbroker
