| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 43rd | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2205 Silverway Dr, Killeen, TX, 76549, US |
| Region / Metro | Killeen |
| Year of Construction | 1975 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2205 Silverway Dr Killeen Value-Add Multifamily
Neighborhood occupancy is firm and renter demand is supported by a balanced tenure mix, according to WDSuite’s CRE market data, positioning this asset for operational stability with upside from modernization.
Located in Killeen’s Inner Suburb, the neighborhood rates A- and ranks 29 out of 139 metro neighborhoods — competitive among Killeen-Temple submarkets. Occupancy in the neighborhood is strong and sits in the 71st national percentile, a favorable backdrop for sustaining lease-up and retention.
Daily-needs access is a relative strength: grocery store density ranks 19 of 139 locally and in the low-80s nationally, while restaurants track above the metro median. Parks, pharmacies, and cafes are limited, which can modestly temper lifestyle appeal, and the average public school rating trends low for the area. For investors, this mix suggests workforce-oriented demand with stable utilization of essential retail.
Tenure patterns indicate about 44.9% of neighborhood housing units are renter-occupied, signaling a meaningful tenant base without overwhelming concentration. Within a 3-mile radius, demographics show recent population growth with a larger increase in total households and a declining average household size — dynamics that typically expand the renter pool and support occupancy. Forward-looking estimates within 3 miles point to additional population and household growth through 2028, reinforcing demand for rental units.
At the neighborhood level, median contract rents sit near the national middle and rent-to-income levels are moderate, which helps manage affordability pressure and can support steady renewals. Compared with the metro, the average construction year skews newer than this property; a 1975 vintage here implies competitive positioning can improve with targeted renovations.
Safety metrics are mixed in comparative terms. The neighborhood’s overall crime profile sits near the national midpoint, with violent incidents improving year over year (above the national median for improvement), while property incidents saw an uptick (below the national median for improvement). Taken together, this suggests conditions that warrant routine risk management and resident communication typical for similar inner-suburban areas.
Within the Killeen-Temple metro context (139 neighborhoods), the neighborhood’s crime rank is in the middle ranges rather than top-tier. Investors should underwrite standard security measures and focus on lighting, access control, and resident engagement as common operating practices, while monitoring the recent improving trend in violent incidents.
Regional employers within commutable reach can help support renter demand and retention, particularly among residents with ties to financial services and technology. Nearby anchors include Raymond James, Farmers Insurance, and Dell Technologies.
- Raymond James — financial services (33.0 miles)
- Farmers Insurance - Doug Gaul — insurance (41.2 miles)
- Dell Technologies — technology (43.3 miles) — HQ
This 56-unit 1975 asset offers a clear value-add path in a neighborhood that is competitive among Killeen-Temple submarkets. Neighborhood occupancy sits in the 71st national percentile and local median rents track near the national middle, supporting day-one stability with room to optimize through unit renovations and operational improvements. Within a 3-mile radius, population growth, a sizable increase in households, and smaller household sizes point to a broader renter pool and durable demand. Based on CRE market data from WDSuite, ownership costs in the area remain accessible relative to many U.S. metros, yet renter demand is reinforced by workforce dynamics and proximity to regional employers.
Given the older vintage relative to the neighborhood’s average construction year, targeted capex—interiors, building systems, and curb appeal—can enhance competitive positioning versus newer stock. Key underwriting considerations include the neighborhood’s lower average school ratings, limited park and cafe access, and mixed but improving safety signals; these can be addressed with resident experience upgrades and security best practices.
- Competitive neighborhood standing in Killeen-Temple with strong occupancy supporting leasing stability
- 1975 vintage presents value-add potential through interiors and system upgrades
- Within 3 miles, rising households and smaller household sizes expand the renter base
- Rents near national middle and moderate rent-to-income support renewals and pricing flexibility
- Risks: lower school ratings, limited recreational amenities, and mixed safety trends warrant active asset management