| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 42nd | Fair |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1506 Bundrant Dr, Killeen, TX, 76543, US |
| Region / Metro | Killeen |
| Year of Construction | 1977 |
| Units | 42 |
| Transaction Date | 2010-11-15 |
| Transaction Price | $950,000 |
| Buyer | NATIONAL BANK |
| Seller | KIM HAE SOOK |
1506 Bundrant Dr, Killeen Multifamily Value-Add
Neighborhood occupancy is holding above metro averages with a deep renter base, suggesting durable tenant demand for a 1977 vintage asset, based on CRE market data from WDSuite.
The property sits in an Inner Suburb pocket of Killeen-Temple where neighborhood occupancy trends are above the metro median and in the upper half nationally, supporting income stability for well-managed multifamily. Renter-occupied housing is roughly two-thirds of the local stock, indicating a sizable tenant base and depth for leasing.
Daily-needs access is a relative strength: neighborhood grocery density runs near the top among 139 metro neighborhoods and lands in the top quartile nationally, while restaurant density is also top quartile nationally. Other amenity categories such as parks, pharmacies, cafes, and childcare are comparatively thin, so residents likely rely on key commercial corridors for services.
Within a 3-mile radius, population and household counts have grown, expanding the local renter pool. Forward-looking estimates indicate additional household growth alongside smaller average household sizes, which can support demand for compact floor plans and sustained occupancy.
Home values sit below national norms, which can introduce some competition from entry-level ownership. At the same time, neighborhood rent levels and rent-to-income dynamics point to manageable affordability pressure that can aid retention and steady leasing.
Safety indicators are mixed but show constructive movement. Relative to neighborhoods nationwide, overall crime conditions track around mid-range, with property-related measures comparing somewhat better and a recent year-over-year decline in estimated violent offenses.
In practice, operators should expect corridor-level variation across Killeen-Temple. According to WDSuite’s CRE data, recent trends point to gradual improvement, which supports a stable operating outlook without assuming block-level uniformity.
- Raymond James — financial services (33.5 miles)
- Farmers Insurance - Doug Gaul — insurance (41.0 miles)
- Dell Technologies — technology (43.9 miles) — HQ
Built in 1977, this 42-unit asset skews slightly older than nearby stock, creating potential for targeted value-add and system upgrades to enhance competitiveness. Neighborhood fundamentals are supportive: occupancy runs above the metro median, the renter share of housing is high, and the 3-mile area shows population growth with more households and smaller household sizes—favorable for leasing smaller units and maintaining stable occupancy.
Ownership costs in the area are relatively accessible compared with national benchmarks, which can create some competition with for-sale options; however, rent-to-income dynamics remain manageable, supporting retention. According to WDSuite’s commercial real estate analysis, these conditions point to steady renter demand, with operational upside tied to renovations, unit optimization, and disciplined affordability management.
- Above-median neighborhood occupancy supports income stability
- High renter concentration indicates depth of tenant demand
- 1977 vintage offers value-add potential via modernization
- 3-mile growth and smaller households favor smaller floor plans
- Risk: lower ownership costs can compete with rentals; amenity gaps require thoughtful positioning