| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 209 Root Ave, Killeen, TX, 76541, US |
| Region / Metro | Killeen |
| Year of Construction | 1973 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
209 Root Ave Killeen Value-Add Multifamily Opportunity
Renter-occupied housing within a 3-mile radius is substantial, supporting a durable tenant base, while the 1973 vintage points to renovation upside for competitive positioning, according to WDSuite’s CRE market data. Neighborhood indicators suggest stable renter demand with room to improve operations through targeted upgrades and focused lease management.
Livability drivers are mixed but serviceable for workforce renters. Grocery access is a relative strength—ranked 4th among 139 metro neighborhoods (top quartile nationally)—while restaurants are dense (1st of 139; top percentile nationally), indicating everyday convenience. By contrast, parks, pharmacies, cafes, and childcare options rank near the bottom of the metro set, pointing to limited discretionary amenities in the immediate area.
The neighborhood’s average construction year is 1976 (measured against 139 Killeen-Temple neighborhoods). With a 1973 vintage, the property is slightly older, implying potential capital planning needs and value-add/modernization opportunities to elevate curb appeal and systems performance versus nearby stock.
Occupancy for the neighborhood is reported at the neighborhood level and remains below the metro median, though it has improved in recent years. For investors, this suggests a focus on operational execution—targeted unit renovations, leasing cadence, and renewals—to capture demand that is present but competitive among Killeen-Temple submarkets.
Demographic statistics aggregated within a 3-mile radius show households increased over the past five years and are projected to continue growing, expanding the potential renter pool. Median contract rents have trended upward historically and are projected to rise further, while median incomes have also advanced. Together, these dynamics point to steady renter demand with the need for prudent pricing strategy to support retention and occupancy. When home ownership costs are considered alongside relatively low neighborhood home values, the takeaway for investors is that rental housing remains a more accessible option for many households, sustaining depth of demand and supporting lease stability.
Tenure patterns within a 3-mile radius indicate a high share of renter-occupied units. This elevated renter concentration supports leasing velocity and a deeper tenant base, while also reinforcing the importance of resident experience and renewal programs to manage turnover and maintain occupancy.
Safety indicators are mixed when benchmarked against metro and national peers. The neighborhood sits below metro average on safety among 139 Killeen-Temple neighborhoods, and national comparisons place it below the midpoint overall. However, recent trend data shows an improvement in violent offense rates year over year, while property offense levels have been comparatively more stable. For underwriting, a conservative approach to security, lighting, and property management presence can help support resident retention and leasing.
Regional employment access extends to large corporate offices within commuting reach, supporting renter demand tied to professional services and technology. Notable employers include Raymond James, Farmers Insurance, and Dell Technologies.
- Raymond James — financial services offices (33.6 miles)
- Farmers Insurance - Doug Gaul — insurance offices (41.4 miles)
- Dell Technologies — technology & corporate operations (43.9 miles) — HQ
This 31-unit, 1973-vintage asset presents a practical value-add path in a renter-heavy area where neighborhood occupancy has been improving but remains below metro norms. Based on commercial real estate analysis from WDSuite, nearby households and incomes have risen over time and are projected to continue increasing, supporting a larger tenant base and sustained leasing. Renovations targeted to interiors, common areas, and building systems can position the property competitively against slightly newer neighborhood stock.
Within a 3-mile radius, a high share of housing units are renter-occupied, indicating depth of demand for multifamily. Rising rents alongside income growth point to continued pricing potential, but investors should calibrate rent steps to local affordability pressure to protect retention and occupancy. Proximity to a broad employment shed further supports stable tenant sourcing over a full cycle.
- Renter-heavy 3-mile area provides a deep tenant base and supports occupancy stability.
- 1973 vintage creates value-add potential through targeted renovations and system upgrades.
- Household and income growth, per WDSuite, support steady demand and disciplined rent optimization.
- Broad employment access within commuting range aids leasing resilience and renewal prospects.
- Risks: neighborhood occupancy below metro median and affordability pressure require careful lease management and pricing.