| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 69th | Best |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2502 Bacon Ranch Rd, Killeen, TX, 76542, US |
| Region / Metro | Killeen |
| Year of Construction | 1988 |
| Units | 80 |
| Transaction Date | 2009-09-23 |
| Transaction Price | $5,000,000 |
| Buyer | VR KEYSTONE LIMITED PARTNERSHIP |
| Seller | KEYSTONE 212 PARTNERS LP |
2502 Bacon Ranch Rd Killeen Multifamily Investment
Neighborhood occupancy near the low‑90s and a high share of renter-occupied units point to a durable tenant base, according to WDSuite’s CRE market data. For investors, this supports steady leasing with measured pricing power in an Inner Suburb location.
This Inner Suburb neighborhood of Killeen ranks 8th out of 139 metro neighborhoods (A rating), indicating competitive fundamentals versus the metro. Occupancy in the neighborhood is around the low‑90s and has trended modestly higher over five years, suggesting stable leasing conditions relative to broader Central Texas dynamics. The local renter concentration is elevated (about three‑quarters of housing units are renter‑occupied), which typically deepens the tenant pool and can support retention during lease turns.
Livability inputs are mixed. Grocery access is a clear strength, ranked 3rd of 139 and in the top decile nationally, with restaurants also competitive (10th of 139). Pharmacies are similarly well represented (7th of 139). By contrast, cafés, parks, and childcare density rank at the bottom locally, which may limit some lifestyle appeal; investors should underwrite this with amenity strategies at the property level.
Within a 3‑mile radius, demographics indicate a growing renter base: population has increased in recent years and households have expanded at a faster clip, while average household size is trending smaller. Looking ahead, WDSuite’s data points to further population growth and a substantial increase in households through the mid‑term forecast period, which generally supports multifamily demand depth and occupancy stability.
Affordability dynamics are favorable for operations. The neighborhood’s rent‑to‑income ratio sits near the low end nationally, which can reduce affordability pressure and support renewal outcomes. Median home values are lower relative to national benchmarks, which can introduce some competition from ownership; however, the high share of renter‑occupied units and steady occupancy suggest sustained reliance on rental housing. Median asking rents in the neighborhood have risen meaningfully over five years, reinforcing investor expectations for revenue growth when paired with prudent lease management.
The property’s 1988 vintage is older than the neighborhood’s average construction year (2004). Investors should plan for capital expenditures and consider value‑add strategies—interior updates, system upgrades, and amenity enhancements—to maintain competitive positioning against newer stock.
Safety indicators for the neighborhood are around the metro median (ranked 75th of 139). Compared with neighborhoods nationwide, property offense measures sit modestly better than average, while violent offense levels track below the national midpoint. Notably, property offenses have improved over the most recent year, a constructive trend that can support renter sentiment and renewal performance.
For underwriting, treat the area as mixed but improving: conditions are broadly comparable to many Central Texas neighborhoods, with recent year‑over‑year moderation in property offenses. As always, align security features and site operations with local expectations to support leasing and retention.
Regional employers within commuting distance help support renter demand and retention through steady white‑collar and technology roles. The following firms illustrate the employment base accessible from the neighborhood: Raymond James, Farmers Insurance, and Dell Technologies.
- Raymond James — financial services (31.0 miles)
- Farmers Insurance - Doug Gaul — insurance (38.8 miles)
- Dell Technologies — technology (41.4 miles) — HQ
2502 Bacon Ranch Rd offers scale at 80 units in a neighborhood that ranks competitively within the Killeen–Temple metro, with occupancy around the low‑90s and a high share of renter‑occupied housing supporting a resilient tenant base. According to CRE market data from WDSuite, neighborhood rents have grown over five years while the rent‑to‑income ratio remains relatively low nationally, a combination that can underpin renewal rates and measured rent advancement.
The 1988 vintage is older than nearby stock on average, creating a straightforward value‑add path through interior modernization and building‑system upgrades to compete with 2000s‑era product. Within a 3‑mile radius, population growth and a notable increase in households point to a larger renter pool over the forecast window, which should support occupancy stability if capital plans address competitive positioning and amenities.
- Competitive neighborhood standing and stable occupancy support steady operations
- High renter concentration provides depth of demand and retention potential
- Value‑add opportunity given 1988 vintage versus newer local stock
- Household growth within 3 miles expands the renter pool and leasing visibility
- Risk: lower home values may create ownership competition—underwrite pricing and renovation scope accordingly