| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 42nd | Fair |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2904 Lake Rd, Killeen, TX, 76543, US |
| Region / Metro | Killeen |
| Year of Construction | 1974 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2904 Lake Rd Killeen Multifamily Value-Add Potential
Neighborhood occupancy sits above the metro median with a high renter concentration, supporting stable demand according to WDSuite’s CRE market data. Accessible rents and strong grocery/restaurant density at the neighborhood level underpin steady leasing dynamics for workforce housing.
Set within Killeen’s inner-suburban fabric, the neighborhood posts above-metro-median occupancy alongside a sizable renter-occupied share, indicating depth in the tenant base for smaller multifamily assets. The renter-occupied share ranks 14 of 139 metro neighborhoods (competitive among Killeen-Temple neighborhoods) and is in the 96th percentile nationally, signaling durable multifamily demand at the neighborhood level.
Amenity access is mixed. Grocery and restaurant density are notable strengths — grocery access ranks 2 of 139 locally (top quartile among Killeen-Temple neighborhoods) and the area stands in the 97th and 84th national percentiles for grocery and restaurants, respectively. By contrast, parks, cafes, childcare, and pharmacies are sparse in the immediate area, which may modestly affect walk-to services but is typical of drive-oriented corridors in Killeen.
Neighborhood rents remain relatively accessible with observable five-year growth, supporting leasing while helping manage retention risk. Home values are lower than many U.S. neighborhoods (16th percentile nationally), which can introduce some competition from entry-level ownership, but also reinforces the relevance of rental housing for workforce households seeking flexibility and lower upfront costs.
Demographics aggregated within a 3-mile radius show population and household growth over the past five years, expanding the potential renter pool. Looking ahead, forecasts call for continued household gains and smaller average household sizes by 2028, which typically supports absorption of studios and smaller one-bedrooms and helps sustain occupancy stability, based on CRE market data from WDSuite.
Relative positioning is mixed: compared with 139 Killeen-Temple neighborhoods, the area sits below the metro median on crime rank (lower rank indicates more crime), but nationally it performs slightly above the median (around the 57th percentile for overall safety). Property-offense indicators track in the upper half nationally, while violent-offense positioning is closer to the national midpoint.
Trend-wise, estimated violent-offense and property-offense rates declined year over year, according to WDSuite’s CRE market data. For investors, that suggests stabilizing conditions versus last year, though ongoing monitoring remains prudent as part of leasing strategy and on-site operations.
Corporate employers within commuting range support a broad workforce renter base and can aid retention. The primary nearby nodes include financial services, insurance, and technology offices noted below.
- Raymond James — financial services (33.6 miles)
- Farmers Insurance - Doug Gaul — insurance (41.1 miles)
- Dell Technologies — technology (44.0 miles) — HQ
Built in 1974 with 25 units, the property aligns with steady workforce housing fundamentals in an inner-suburban Killeen neighborhood. Above-metro-median occupancy and a strong renter-occupied share indicate a deep tenant base, while high grocery and solid restaurant density support day-to-day livability. According to CRE market data from WDSuite, neighborhood safety indicators have improved year over year, and 3-mile population and household growth, alongside smaller projected household sizes, support ongoing demand for smaller unit types and occupancy stability.
Given its vintage, targeted value-add and capital planning — including interior upgrades and systems modernization — can enhance competitive positioning against newer stock while addressing long-term maintenance. Investors should underwrite trade-offs such as limited nearby parks and cafes and monitor safety metrics as part of risk management.
- High renter concentration and above-metro-median occupancy support a deep tenant base
- Strong grocery and restaurant density underpin daily convenience and leasing
- 1974 vintage offers value-add potential via interior and systems updates
- 3-mile household growth and smaller projected household sizes support demand for smaller units
- Risks: limited parks/cafes locally and the need to monitor safety trends versus the metro