| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 36th | Fair |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1020 N Gilmer St, Killeen, TX, 76541, US |
| Region / Metro | Killeen |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1020 N Gilmer St Killeen Multifamily Opportunity
High renter-occupied housing and improving neighborhood occupancy point to a stable tenant base, according to WDSuite’s CRE market data. Investor focus centers on demand durability and operational execution in a value-oriented Killeen location.
The property sits in an Inner Suburb pocket of Killeen that skews value-oriented and renter-heavy. At the neighborhood level, restaurants are relatively accessible, while day-to-day amenities like grocery, parks, and childcare options are thinner, suggesting residents may travel slightly farther for errands. Relative to other Killeen-Temple neighborhoods (139 total), this area trends below the metro median on several composite measures, which places a premium on hands-on operations and targeted improvements.
Renter concentration is high in the immediate area, supporting depth of demand for multifamily units. Within a 3-mile radius, renters account for a substantial share of housing units, and households have grown over the past five years with forecasts calling for further increases alongside smaller average household sizes. These dynamics imply a larger tenant base and steady leasing pipelines for well-managed properties, based on commercial real estate analysis from WDSuite.
Neighborhood occupancy has risen in recent years, though it remains a watch item that rewards proactive leasing and resident retention strategies. Contract rents in the neighborhood have trended upward off a relatively low base, which can aid revenue growth while maintaining competitive positioning versus older stock nearby. Low median home values locally may create some competition from ownership options, but they also keep multifamily attractive for households prioritizing flexibility.
Income levels in the 3-mile radius are improving from prior periods, and projected rent growth suggests room for professional management to capture incremental pricing while monitoring rent-to-income ratios for retention risk. Overall, the location can serve workforce renters seeking access to Killeen employment corridors, with performance hinging on consistent operations and value-focused asset management, per WDSuite’s CRE market data.
Safety metrics indicate the area ranks in the lower tier relative to the 139 neighborhoods in the Killeen-Temple metro, and it sits below the national median based on WDSuite’s data. Recent year-over-year readings show increases in both property and violent incidents, so underwriting should incorporate conservative assumptions for security, lighting, and resident engagement.
For investors, the takeaway is comparative rather than block-specific: this submarket requires attentive management and physical improvements to support resident experience and retention. Monitoring trend direction and aligning on-site practices with proven measures can help mitigate volatility over the hold.
Regional employment is supported by a mix of financial services and technology employers within commuting range, which can bolster renter demand and retention for workforce housing. The list below highlights nearby corporate offices most relevant to daily commuting patterns.
- Raymond James — financial services (34.1 miles)
- Farmers Insurance - Doug Gaul — insurance (41.9 miles)
- Dell Technologies — technology (44.4 miles) — HQ
This 28-unit asset benefits from a renter-heavy housing landscape and a growing 3-mile household base, which together support a durable tenant pool. Neighborhood occupancy has improved, and rent levels remain competitive for value-focused renters, according to CRE market data from WDSuite. Execution will matter: the submarket’s amenity mix is thinner and safety metrics are lower relative to metro and national benchmarks, so disciplined operations and targeted upgrades are key to driving NOI.
Looking forward, projected gains in local households and incomes, alongside ongoing rent growth, position the asset for steady absorption and pricing power calibrated to retention. Investors should plan for enhanced security, active leasing, and resident services to capture the area’s demand while mitigating volatility.
- High renter concentration within 3 miles supports depth of tenant demand and leasing stability.
- Neighborhood occupancy trending upward provides a constructive backdrop for revenue management.
- Competitive rent levels with room for professional management to capture incremental growth.
- Risk: Lower comparative safety metrics and thinner amenities call for proactive security and resident engagement.
- Risk: Ownership options are relatively accessible, requiring focus on service quality and retention.