| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 34th | Fair |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1409 Bundrant Dr, Killeen, TX, 76543, US |
| Region / Metro | Killeen |
| Year of Construction | 1976 |
| Units | 38 |
| Transaction Date | 2021-12-03 |
| Transaction Price | $2,094,750 |
| Buyer | HESSY CAPITAL LLC |
| Seller | CHINA SUMMIT CAPITAL LLC |
1409 Bundrant Dr Killeen Multifamily Investment Opportunity
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and accessible rents relative to local incomes, according to WDSuite’s CRE market data. This points to steady leasing potential for a 38-unit asset positioned for workforce housing.
Located in Killeen’s inner-suburban fabric, the property sits in a neighborhood rated B- among 139 metro neighborhoods, placing it around the metro median. Local livability favors everyday convenience: grocery access is competitive among Killeen-Temple neighborhoods (ranked 20 of 139, roughly top quartile metro-wide and strong at the 80th percentile nationally), and restaurants track competitively as well (37 of 139; mid-60s percentile nationally). Parks, pharmacies, and cafes are sparse in the immediate area, so on-site amenities and unit updates can help reinforce resident retention.
Childcare density is a bright spot, ranked 1 of 139—top of the metro and about the 99th percentile nationally—supporting working households. Average school ratings in the neighborhood are lower (around the 15th percentile nationally), which some renters may weigh; operators often offset this with value-oriented positioning and convenient access to daily services.
Tenure patterns indicate a meaningful depth of renter-occupied housing in the neighborhood (over half of occupied units), which supports a stable tenant base for multifamily. Within a 3-mile radius, demographic statistics show population growth over the past five years alongside a larger increase in total households and a modest decline in average household size—factors that can expand the renter pool and support occupancy stability.
Affordability remains a key driver. Neighborhood rents are generally accessible relative to incomes, and home values are lower compared with many U.S. neighborhoods, which can sustain reliance on rental housing while still presenting some competition from entry-level ownership. For investors, this backdrop supports consistent demand with pricing power best earned through well-maintained units and thoughtful upgrades rather than premium positioning.
Safety indicators are around the metro middle (crime rank 59 of 139 Killeen-Temple neighborhoods) and modestly above the national middle for safety (mid-50s percentile). Recent trends are constructive: both property and violent incident rates show year-over-year declines, indicating improving conditions rather than deterioration. As always, underwriting should reflect submarket-level patterns rather than block-level assumptions.
Regional employment anchors within commuting range include finance and technology offices that can feed renter demand through steady white-collar and support roles. The following employers illustrate the nearby base and potential for retention via reasonable commutes.
- Raymond James — finance (33.5 miles)
- Farmers Insurance - Doug Gaul — insurance (40.9 miles)
- Dell Technologies — technology (43.9 miles) — HQ
Built in 1976, the 38-unit property offers a practical value-add canvas: vintage systems and finishes may warrant targeted capital planning, while upgrades can sharpen competitiveness against older nearby stock. Demand fundamentals are supported by a renter-occupied tilt in the neighborhood and household growth within a 3-mile radius, pointing to a deeper tenant base and potential for stable occupancy. According to CRE market data from WDSuite, neighborhood rents remain accessible relative to incomes, suggesting that well-executed renovations can drive rent-to-value without overextending affordability.
Location fundamentals are serviceable for workforce housing: grocery and dining access rank competitive locally, childcare access is among the metro’s best, and safety measures have trended in the right direction. Balanced against these positives are modest school ratings and limited park/pharmacy density, which argue for prudent amenity investments and emphasis on convenience in the operating plan.
- Renter demand depth supported by a neighborhood with a majority of renter-occupied units and growing households within 3 miles
- Value-add potential in a 1976 vintage asset through targeted renovations and operational improvements
- Everyday convenience: competitive grocery and dining access; exceptional childcare density strengthens appeal to working households
- Affordability positioning: accessible neighborhood rents relative to incomes can support retention and measured rent growth
- Risks to monitor: lower school ratings and limited parks/pharmacies; maintain conservative assumptions and prioritize on-site amenity value