| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 34th | Fair |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2214 Andover Dr, Killeen, TX, 76542, US |
| Region / Metro | Killeen |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2214 Andover Dr, Killeen TX Multifamily Value-Add
Neighborhood occupancy is steady and renter demand is supported by a sizable tenant base, according to WDSuites CRE market data; the assets older vintage points to renovation upside that can enhance competitiveness versus newer local stock.
The property sits in an Inner Suburb pocket of Killeen that ranks mid-pack within the Killeen-Temple metro (74 of 139 neighborhoods, B- rating), suggesting balanced fundamentals rather than outlier risk. Neighborhood occupancy runs in the low-90% range, indicating generally stable leasing conditions for professionally managed multifamily.
Daily-needs access is serviceable: grocery availability is competitive among Killeen-Temple neighborhoods (rank 33 of 139; strong nationally), and restaurant density scores in the top quartile nationally, while parks, pharmacies, cafes, and childcare options are thinner in the immediate area. For investors, that mix supports routine errands and dining-driven foot traffic even if lifestyle amenities are more limited locally.
Renter-occupied share at the neighborhood level is substantial, signaling a meaningful pool of prospective tenants and supporting demand durability for workforce units. Within a 3-mile radius, demographics show modest population growth in recent years alongside a notable increase in households and smaller average household sizesrends that typically expand the renter pool and support occupancy stability for well-managed assets.
Home values in this part of Killeen are lower than many U.S. neighborhoods, which can create some competition from ownership options; however, rent levels benchmark near national mid-range and the rent-to-income profile points to manageable affordability pressure, a positive for retention and lease management. Median construction years nearby skew newer than this asset, so a targeted refresh can help the property compete for demand without relying solely on discount positioning.
Safety indicators for the neighborhood are mixed relative to peers. The area places near the metro middle on crime (74 of 139 neighborhoods), translating to neither a clear advantage nor a pronounced headwind versus broader Killeen-Temple patterns. Nationally, violent and property offense rates track below mid-percentiles, but recent year-over-year data shows a meaningful improvement in violent incidents, a constructive directional trend for long-term operations.
Investors should underwrite standard security measures and operating practices typical for Inner Suburb assets, while noting that recent declines in violent offense rates suggest improving conditions rather than deterioration.
Regional employers within commuting range help support leasing, particularly for workforce renters. Nearby corporate offices span financial services, insurance, and technology, reinforcing a diverse employment base relevant to tenant retention.
- Raymond James financial services (32.2 miles)
- Farmers Insurance - Doug Gaul insurance (40.2 miles)
- Dell Technologies technology (42.5 miles) HQ
Built in 1975 with 30 units, the asset offers classic value-add potential in a neighborhood that has held occupancy around the low-90% range. Nearby stock trends newer on average, so targeted renovations and system upgrades can sharpen competitive positioning and support steady absorption. Within a 3-mile radius, recent household growth and shrinking household sizes point to a larger renter pool over time, supporting leasing stability for well-maintained product.
Home values are comparatively accessible in this part of Killeen, which can temper pricing power; however, rents benchmark near national mid-range and the rent-to-income profile indicates manageable affordability pressure. According to commercial real estate analysis from WDSuite, these factors, combined with a sizable renter-occupied base locally, underpin a durable demand story for workforce-oriented multifamily. Key risk items include potential competition from single-family ownership and the need to underwrite capital plans consistent with a 1970s vintage.
- 1975 vintage creates clear value-add pathway via interior upgrades and selective system improvements
- Neighborhood occupancy in the low-90% range supports stable operations and leasing
- 3-mile trends show more households and smaller sizes, expanding the renter pool and supporting demand
- Rent-to-income dynamics suggest manageable affordability pressure, aiding retention and collections
- Risks: competition from ownership options and capex needs typical of 1970s construction