| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 37th | Fair |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 104 E Cardinal Ln, Harker Heights, TX, 76548, US |
| Region / Metro | Harker Heights |
| Year of Construction | 1975 |
| Units | 20 |
| Transaction Date | 2019-08-26 |
| Transaction Price | $247,200 |
| Buyer | MCDANIEL HYDRESS C |
| Seller | TIPPIT HOMES INC |
104 E Cardinal Ln Harker Heights Multifamily Investment
Positioned in an amenity-rich inner suburb with competitive neighborhood occupancy, this 20‑unit asset offers durable renter demand, according to WDSuite’s CRE market data. The location’s depth of services supports leasing stability relative to the Killeen-Temple metro.
Harker Heights sits within an inner-suburb neighborhood that ranks 7th out of 139 Killeen-Temple neighborhoods with an overall rating of A. Amenity access is a clear strength: restaurants, parks, pharmacies, and cafes place in high national percentiles, translating into daily convenience that supports tenant retention and leasing velocity.
Neighborhood occupancy is competitive among Killeen-Temple neighborhoods (48 of 139; national percentile 68), suggesting a relatively stable leasing backdrop versus broader U.S. trends. Median contract rents at the neighborhood level remain moderate, which can aid renewal capture while limiting near-term pricing power.
Within a 3‑mile radius, population grew over the last five years and households expanded at a faster pace as average household size edged down. Projections through 2028 indicate further population growth and a notable increase in households, pointing to a larger tenant base and support for occupancy stability as more renters enter the market, based on CRE market data from WDSuite.
Tenure mix within a 3‑mile radius shows a substantial share of renter‑occupied housing units, indicating depth in the local renter pool. At the same time, neighborhood home values are lower relative to national benchmarks, which can introduce some competition from entry‑level ownership and temper rent‑growth upside; investors should calibrate underwriting to emphasize retention and operational efficiency.
Safety performance is mixed in a way investors should contextualize. The neighborhood ranks 20th out of 139 metro neighborhoods for crime, indicating higher crime relative to the Killeen-Temple metro, yet it sits in stronger national percentiles (around the top quintile for both property and violent offense rates). Year‑over‑year trends show material declines in both property and violent offense estimates, which, if sustained, can support perception and leasing stability.
As always, block‑level conditions vary; investors should pair these metro‑ and national‑scale indicators with property‑level diligence (lighting, access controls, and partnership with local enforcement) to manage risk and support resident retention.
Regional employment anchors within commuting range bolster renter demand and support retention for workforce and professional tenants, including Raymond James, Farmers Insurance, Dell Technologies, and Arconic.
- Raymond James — financial services offices (30.5 miles)
- Farmers Insurance - Doug Gaul — insurance offices (37.6 miles)
- Dell Technologies — technology (40.9 miles) — HQ
- Arconic — industrial manufacturing (44.2 miles) — HQ
Constructed in 1975, the asset is older than much of the surrounding stock, creating clear value‑add potential through interior upgrades and building‑systems modernization while requiring disciplined capital planning. The neighborhood’s amenity depth and competitive occupancy positioning within the Killeen-Temple metro provide a supportive leasing backdrop, with national safety percentiles and declining offense trends adding further context for demand durability.
Within a 3‑mile radius, recent population gains and a faster increase in households point to renter pool expansion. Neighborhood‑level rents and rent‑to‑income metrics indicate relatively accessible monthly costs, favoring renewal capture over aggressive mark‑to‑market strategies. According to CRE market data from WDSuite, these dynamics align with steady occupancy potential, while lower local home values suggest underwriting should balance rent growth expectations with retention‑focused operations.
- Amenity‑rich inner‑suburb location with competitive neighborhood occupancy supports leasing stability.
- 1975 vintage offers value‑add upside via unit renovations and systems upgrades with thoughtful capex.
- 3‑mile radius shows population and household growth, expanding the local renter base.
- Employer access within commuting range underpins workforce housing demand and retention.
- Risks: relatively accessible homeownership can compete with rentals; metro‑relative crime rank warrants property‑level risk management and underwriting discipline.