Active Listing  ·  71 days on market

2308 Terrace Dr

Killeen, TX 76543
$160,000
3 Bed 2 Bath 1,442 sqft $111/sqft Built 1956 0.21 acres 1-Car Garage Pool Crescent Manor

Welcome to the best property under $200k in Killeen! This classic brick, 3-bedroom, 2-bathroom home sits on an expansive, oversized lot and features fresh updates throughout, including brand-new interior paint, new vinyl flooring, and new carpet. The light-filled, efficient floor plan includes a versatile 4th bonus room off the kitchen. Perfect for a home office, secondary living zone, playroom, or extra storage. It's conveniently located just minutes from Fort Cavazos, local schools, shopping, dining, and parks. The Highlight: Take advantage of an incredible assumable VA loan with a 3.375% interest rate (available to eligible VA buyers only; seller requires full entitlement restoration). Opportunities like this don't come around often, reach out today before it's gone!

At $111/sqft, this home is 35% below the Killeen active market average of $172/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

2308 Terrace Dr, Killeen, TX 76543

Property Details

Price $160,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,442 sqft
Lot Size 0.21 acres (9,256.5 sqft)
Year Built 1956
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Crescent Manor
County Bell
Zip Code 76543
$/sqft $111/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $3,794.54
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT240800819
List Date July 23, 2026
Elementary School Clifton Park
Middle School Manor (Killeen ISD)
High School Killeen
School District ,

Luke Allen (TREC #788149) has deep knowledge of Killeen and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · July 23, 2026 $165,000
Current ask $160,000
▼ Reduced $5,000 (-3.0%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Killeen

Comparable Listings Right Now

Homes currently for sale in Killeen with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
1110 Searcy Dr
Crescent Manor
$150,000 $101 3 bd / 2 ba 1,483 sqft , 2026-07-15
1508 Bowie Ct
Killeen Heights South Unit 2nd
$150,000 $158 3 bd / 2 ba 952 sqft , 2026-08-17
3214 Longview Dr
Marlboro Heights Rev Lts
$140,000 $100 3 bd / 2 ba 1,404 sqft , 2025-09-24
404 Goodnight Dr
Hillcrest
$139,900 $126 3 bd / 1 ba 1,109 sqft , 2026-06-25
1314 Gardenia Ave
Rose Add 3rd Unit
$185,000 $169 3 bd / 1 ba 1,092 sqft , 2025-12-11

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$768/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$32,000
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$768
Principal + Interest−$873
Property Tax (~2.1% TX avg)−$280
Insurance (~0.5%)−$67
Est. Monthly Cash Flow $-452

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Killeen, TX

Killeen sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on September 23, 2026.

📞 (254) 718-2567 [email protected] More about Luke →