| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 34th | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2206 Andover Dr, Killeen, TX, 76542, US |
| Region / Metro | Killeen |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2206 Andover Dr, Killeen TX Multifamily Investment
Neighborhood occupancy sits in the low-90s with steady renter demand, according to WDSuites CRE market data, suggesting durable cash flow potential for a 30-unit asset in Killeens inner-suburb setting.
Located in an Inner Suburb of Killeen, the neighborhood carries a B- rating and ranks 74 out of 139 metro neighborhoods, placing it around the metro median. Restaurant density is competitive among Killeen-Temple neighborhoods (ranked 16 of 139) and sits in the top quartile nationally, while grocery access ranks 33 of 139, signaling above-median convenience locally. Café, park, and pharmacy counts are limited, so day-to-day services skew toward essentials rather than lifestyle amenities.
Typical construction in the neighborhood skews newer (average year 2000), whereas this propertys 1975 vintage is older than local norms. That age profile can support a value-add strategy, but investors should plan for capital expenditures to modernize interiors, systems, and curb appeal to remain competitive against newer stock.
Renter concentration within the neighborhood is in the mid-40% range of housing units being renter-occupied, indicating a meaningful tenant base and supporting leasing stability. Neighborhood occupancy is about 91%, hovering around the metro middle, which suggests balanced conditions without significant oversupply pressure.
Within a 3-mile radius, demographic data indicate a stable population with a modest recent uptick and a forecasted increase over the next five years, alongside a notable rise in households and a trend toward smaller household sizes. This points to a larger tenant base over time and supports absorption for multifamily units. Median rents remain accessible relative to local incomes, with a rent-to-income ratio near 0.21 in the neighborhood, which can support retention while limiting near-term pricing power.
Safety metrics are mixed but improving. The neighborhoods crime rank is 74 out of 139 Killeen-Temple neighborhoods, positioning it near the metro median. Nationally, safety sits below average, but recent year-over-year declines in estimated violent and property offenses signal positive momentum.
Specifically, estimated violent offense rates declined by roughly a third over the past year and property offenses also trended lower. For investors, the directional improvement reduces downside risk to perception and lease-up, though ongoing monitoring remains prudent.
Regional employers within commuting range support renter demand and retention, particularly for workforce households. The employment base includes financial services and technology firms noted below.
- Raymond James — financial services (32.3 miles)
- Farmers Insurance - Doug Gaul — insurance services (40.3 miles)
- Dell Technologies — technology (42.6 miles) — HQ
2206 Andover Dr offers a 30-unit footprint in a neighborhood with stable occupancy and a meaningful renter base. The 1975 vintage is older than nearby stock, creating potential value-add upside through targeted renovations and systems upgrades. According to CRE market data from WDSuite, neighborhood rent levels relative to income indicate manageable affordability pressure, supporting tenant retention, while projected household growth within 3 miles points to a larger renter pool over time.
Balanced neighborhood positioning near the metro median, competitive restaurant and solid grocery access, and improving safety trends support demand durability. Investors should weigh amenity gaps (limited cafés, parks, pharmacies) and more accessible ownership costs locally, which can compete with rentals, against the propertys renovation-driven positioning and steady occupancy backdrop.
- Stable neighborhood occupancy and a meaningful renter-occupied housing base support leasing continuity.
- 1975 vintage presents value-add potential through interior and systems upgrades to compete with newer stock.
- Within 3 miles, projected increases in households suggest a larger tenant base and demand support.
- Neighborhood rent-to-income dynamics indicate manageable affordability pressure, aiding retention.
- Risks: amenity gaps and relatively accessible ownership options may temper pricing power; safety trends improving but warrant monitoring.