| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 7th | Poor |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1003 W Martin Luther King Jr Ave, Belton, TX, 76513, US |
| Region / Metro | Belton |
| Year of Construction | 2005 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1003 W Martin Luther King Jr Ave, Belton TX Multifamily Opportunity
Neighborhood occupancy trends appear stable to competitive for the Killeen-Temple metro, supporting steady renter demand according to WDSuite’s CRE market data. The location’s fundamentals suggest durable leasing with scope for selective value-add positioning rather than heavy repositioning.
Belton’s inner-suburban setting offers practical access to regional employment while maintaining a residential feel. Amenity density is limited in this immediate neighborhood, but park access is comparatively stronger than other local conveniences, which can support day-to-day livability for residents. Compared with national peers, the neighborhood’s occupancy level is solid and competitive among Killeen-Temple neighborhoods, a positive indicator for multifamily stability.
The property’s 2005 construction is newer than the neighborhood’s average vintage (2001). For investors, this generally points to a more competitive position versus older stock and may reduce near-term capital needs; however, planning for mid-life system updates and targeted interior refreshes remains prudent to sustain rentability.
Within a 3-mile radius, demographics indicate recent population growth with further expansion projected through 2028, alongside increases in household counts. These trends imply a larger tenant base and support for occupancy stability. The renter-occupied share is roughly 47% of housing units today within the 3-mile radius, signaling depth in the renting population; projections show ownership gaining share, so leasing strategies should emphasize retention and product differentiation.
Median contract rents in the 3-mile radius have risen over the last five years and are forecast to continue growing, which can support measured pricing power if matched with unit quality and management execution. At the same time, local home values are comparatively accessible versus many U.S. neighborhoods, which can introduce some competition from ownership; operators that maintain functional finishes and reliable service levels will be better positioned to sustain lease-up velocity and renewals.
Based on WDSuite’s neighborhood benchmarks, overall safety indicators compare favorably to many U.S. neighborhoods, with crime levels sitting above the national median. Recent year-over-year data shows material declines in both violent and property offense rates, a constructive trend for resident retention and long-term leasing stability. As with any asset, ongoing monitoring of local trends and coordination with community resources helps maintain a resilient operating environment.
Regional employment is anchored by large corporate offices within commuting range, supporting a broad workforce renter base. Notable employers include Dell Technologies, Arconic, Raymond James, and Farmers Insurance.
- Raymond James — financial services offices (32.0 miles)
- Farmers Insurance - Doug Gaul — insurance offices (36.3 miles)
- Dell Technologies — technology (41.8 miles) — HQ
- Arconic — engineered materials (44.6 miles) — HQ
This 28-unit, 2005-vintage asset in Belton is positioned for durable performance amid steady neighborhood occupancy and a broadening 3-mile renter pool. According to CRE market data from WDSuite, the submarket reads as competitive on occupancy, and forward demographic projections indicate population and household expansion that can support leasing and measured rent moves when paired with ongoing unit refreshes.
Relative accessibility of homeownership in the area suggests some competition with the rental market, but rising area rents and a meaningful base of renter-occupied housing imply continued depth of demand. The 2005 vintage reduces some near-term capital exposure versus older stock, though investors should plan for mid-life building systems, selective interior updates, and continued operational focus to capture renewals and maintain pricing discipline.
- Competitive neighborhood occupancy supports steady leasing
- 2005 vintage offers relative competitiveness with targeted value-add potential
- Expanding 3-mile population and households point to a growing tenant base
- Manageable pricing power as rents trend upward with quality and execution
- Risk: ownership alternatives and limited nearby amenities require strong retention strategy