| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1003 W Martin Luther King Jr Ave, Belton, TX, 76513, US |
| Region / Metro | Belton |
| Year of Construction | 2005 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1003 W Martin Luther King Jr Ave Belton Multifamily Investment
Neighborhood renter-occupied share near the mid-40% range and steady leasing dynamics suggest a durable tenant base, according to WDSuite’s CRE market data. Occupancy trends are mixed locally, so underwriting should prioritize lease retention and pragmatic rent growth.
The property sits in an Inner Suburb neighborhood of Belton that ranks 26 out of 139 metro neighborhoods, placing it in the top quartile locally. Amenity access is a relative strength — neighborhood amenities score in the 72nd percentile nationally and food/retail options (restaurants, groceries, parks) are competitive among Killeen-Temple neighborhoods, supporting livability and everyday convenience for residents.
The asset’s 2005 vintage is newer than the neighborhood’s average construction year of 1988. For investors, that positioning typically improves competitive standing versus older stock and may reduce near-term capital exposure; however, two-decade-old systems can still warrant targeted replacements and common-area refreshes to sustain absorption and rent positioning.
Unit tenure patterns indicate a meaningful renter-occupied share in the neighborhood (about 42%), which points to depth in the tenant pool and supports multifamily demand. Median contract rents in the neighborhood have risen over the past five years, while the neighborhood occupancy rate is below metro leaders, reinforcing the need for disciplined leasing and renewal strategies to maintain cash flow stability.
Within a 3-mile radius, demographics show recent population and household growth with forecasts calling for continued expansion through 2028. This implies a larger tenant base and potential support for occupancy stability and measured rent growth, especially for well-maintained, functional product. Rising household incomes alongside growing families further underpin renter demand, though operators should calibrate pricing to local rent-to-income levels to protect retention.
Home values in the neighborhood sit in the mid-range for the region and trend higher relative to incomes nationally (around the upper-third by value-to-income ratio). In practice, that ownership cost profile can sustain reliance on rental housing, aiding lease-up and renewal prospects for competitively positioned multifamily communities.
Safety indicators are comparatively favorable in the regional context: the neighborhood’s crime rank sits above the metro median (54 out of 139), and nationally it tracks around the 60th percentile, indicating better-than-average safety versus neighborhoods across the country.
Recent trends are constructive: both violent and property offense estimates declined significantly year over year in the neighborhood, suggesting improving conditions. As always, investors should pair these high-level signals with property-level diligence and time-of-day patterns when assessing resident experience and operating risk.
Regional employment access spans financial services, insurance, technology, and advanced materials — a mix that supports commuter demand and lease retention for workforce renters. The list below highlights notable employers within a drivable radius that can underpin tenant demand.
- Raymond James — financial services (32.1 miles)
- Farmers Insurance - Doug Gaul — insurance (36.1 miles)
- Dell Technologies — technology (41.8 miles) — HQ
- Arconic — advanced materials (44.5 miles) — HQ
This 60-unit, 2005-vintage asset benefits from a livable Inner Suburb location that ranks in the top quartile among 139 Killeen-Temple neighborhoods, with solid amenity access and a sizable renter base. Neighborhood rents have advanced over the past five years, and 3-mile demographics point to population and household growth through 2028, supporting a larger tenant base and occupancy stability for well-presented product. At the same time, neighborhood occupancy trails metro leaders, making thoughtful leasing execution and renewal management important.
The 2005 vintage offers relative competitiveness versus older submarket stock, with selective capital planning for aging systems likely sufficient to protect positioning. Home values trend higher relative to incomes in national terms, which can reinforce multifamily demand, while rent-to-income levels suggest room for disciplined, market-consistent pricing. Overall, according to CRE market data from WDSuite, the neighborhood’s fundamentals support a steady, operations-focused investment thesis with measured value-add potential.
- Top-quartile neighborhood placement in Killeen-Temple supports renter demand and leasing velocity.
- 2005 vintage provides competitive positioning versus older stock; plan targeted system updates to sustain performance.
- 3-mile population and household growth through 2028 expands the tenant base and supports occupancy stability.
- Ownership costs skew high relative to incomes nationally, reinforcing reliance on rental housing and renewal potential.
- Risk: Neighborhood occupancy is below metro leaders and school quality trails national norms — underwrite conservative lease-up and renewal assumptions.