| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 43rd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1121 Wales Dr, Killeen, TX, 76549, US |
| Region / Metro | Killeen |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1121 Wales Dr, Killeen Multifamily Value-Add Opportunity
Neighborhood occupancy is near the mid-90% range, supporting durable renter demand according to WDSuite’s CRE market data, with pricing set by a workforce tenant base rather than luxury drivers.
Situated in Killeen’s inner-suburban fabric, the property benefits from everyday conveniences: grocery access and childcare density rank competitive among the 139 Killeen-Temple neighborhoods, while restaurants are present though not a defining strength. Parks, pharmacies, and cafes are limited nearby, so on-site amenities and property management become part of the leasing story.
For investors, the neighborhood’s occupancy is competitive within the metro and supports stable lease-ups. Median contract rents in the surrounding area are positioned for the workforce segment, which can bolster retention but may cap near-term pricing power versus higher-end submarkets.
The asset’s 1978 vintage is older than the neighborhood average year-built (1993). That age profile suggests capital planning for systems and interiors, with potential value-add upside to improve competitive positioning against newer stock.
Within a 3-mile radius, demographics indicate a large renter pool today and expansion ahead: renter-occupied share is material (roughly two-thirds), households have grown in recent years, and forecasts point to meaningful population and household gains over the next five years. Smaller average household sizes are expected, which typically supports steady multifamily absorption and occupancy stability.
Home values in the neighborhood are below national norms; accessible ownership options may compete for some residents. That said, rent-to-income levels remain manageable overall, supporting lease management and renewal strategies rather than aggressive rent-led growth.
School ratings in the neighborhood are below national averages, which may matter for family-oriented renters. Positioning toward workforce tenants seeking commute convenience and value can help mitigate this consideration.
Safety indicators are mixed. Compared with neighborhoods nationwide, violent-incident measures sit below national averages, while property-incident measures are comparatively better positioned. Recent trends show improvement in violent incidents year over year, with property incidents having ticked up. Taken together, investors should underwrite to stable operations with routine security and lighting enhancements rather than assume material risk reduction or escalation.
At the metro scale, the area is neither among the safest nor the most challenged pockets; it is best viewed as competitive within Killeen-Temple, with conditions that respond to active management and consistent resident engagement.
Nearby corporate employers broaden the regional job base and help support renter demand through commute options toward Austin’s tech corridor and regional services.
- Raymond James — financial services offices (33.1 miles)
- Farmers Insurance - Doug Gaul — insurance offices (41.3 miles)
- Dell Technologies — technology (43.4 miles) — HQ
This 24-unit asset aligns with workforce housing fundamentals: neighborhood occupancy trends are supportive, rents are positioned for broad demand, and the 3-mile area shows population and household growth that expands the tenant base. The 1978 construction creates a clear value-add path through renovations and system upgrades to compete against newer nearby product.
According to CRE market data from WDSuite, local rent levels and a sizable renter-occupied share underpin leasing stability, while below-average school ratings and mixed safety indicators warrant pragmatic underwriting and asset management. Home values sit below national norms, which can introduce some competition from ownership, but also sustain multifamily relevance for households prioritizing flexibility and monthly cost control.
- Workforce demand profile with neighborhood occupancy supporting stable operations
- 1978 vintage offers value-add potential via interiors and systems
- 3-mile renter pool expansion and smaller households support absorption
- Pricing aligned with workforce segment aids retention
- Risks: below-average school ratings, mixed safety trends, and some competition from ownership