| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 48th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 411 E Central Texas Expy, Killeen, TX, 76541, US |
| Region / Metro | Killeen |
| Year of Construction | 2003 |
| Units | 23 |
| Transaction Date | 2008-10-16 |
| Transaction Price | $1,625,000 |
| Buyer | MIDDLES INVESTMENT GROUP LLC |
| Seller | HOFFELT & SPICE HOLDINGS LP |
411 E Central Texas Expy Killeen 23-Unit Multifamily
Stabilized neighborhood fundamentals and a 2003 vintage point to durable renter demand and measured value-add potential, according to WDSuite’s CRE market data. Focus on steady occupancy and practical upgrades rather than outsized rent lifts.
The property sits in an Inner Suburb neighborhood of Killeen that ranks 12 out of 139 metro neighborhoods (rated A), indicating competitive positioning among local submarkets. Neighborhood occupancy is 93.7% — above the national midpoint — which supports lease stability and more predictable cash flow at the property level.
Daily-needs access is a relative strength: grocery and pharmacy density rank 9 and 11 out of 139, respectively, placing the area in the top quartile of the Killeen–Temple metro. Restaurant coverage (rank 20 of 139) is also competitive among metro neighborhoods, while parks and cafes are limited, suggesting convenience for essentials and dining but fewer passive recreation options. School ratings average 1.5/5 (26th percentile nationally), which may temper family-driven demand but is often offset in workforce-oriented submarkets.
Construction trends skew slightly newer than the metro average (local stock averages 1998), and this asset’s 2003 vintage positions it competitively versus older product, though planning for selective system updates remains prudent over a long hold. Median home values in the neighborhood are on the lower side relative to national benchmarks, which can create some competition from entry-level ownership; however, a rent-to-income ratio around 0.15 indicates manageable rent burdens that can aid retention and limit turnover risk.
Within a 3-mile radius, demographics show a broad renter base and near-term expansion in the tenant pool. Households increased over the last five years even as population was roughly flat, pointing to smaller household sizes and steady demand for rental units. Forward-looking projections from WDSuite indicate population growth and a substantial increase in households by 2028, supporting occupancy stability and sustained leasing velocity. This framing reflects commercial real estate analysis that prioritizes depth of demand over one-time rent spikes.
Safety metrics are mixed and should be evaluated in context. The neighborhood’s overall crime rank is 78 out of 139 within the Killeen–Temple metro, which is below the metro median. Nationally, the area sits near the midpoint, but recent WDSuite data indicate a notable year-over-year decline in violent offense rates, an improving trend investors should track over additional periods for confirmation.
For underwriting, this profile suggests paying attention to security features, lighting, and resident experience programming to support retention, while recognizing that the latest trend lines show improvement rather than deterioration.
Regional employment access is anchored by professional services and technology roles within commuting range, which can help support workforce renter demand and retention at stabilized rent levels. Employers in scope include Raymond James, Farmers Insurance, and Dell Technologies.
- Raymond James — financial services (32.1 miles)
- Farmers Insurance - Doug Gaul — insurance (40.0 miles)
- Dell Technologies — technology (42.4 miles) — HQ
Built in 2003 with 23 units averaging roughly 696 square feet, the asset is newer than much of the surrounding stock and should compete well against older properties, while still benefiting from targeted modernization to enhance rentability. Neighborhood occupancy of 93.7% and broad renter concentration within a 3-mile radius point to depth of tenant demand and potential lease stability across cycles, based on CRE market data from WDSuite.
Forward indicators are constructive: within 3 miles, households are projected to grow meaningfully by 2028, expanding the renter pool and supporting sustained absorption. At the same time, relatively accessible ownership costs in this submarket can introduce competition at certain price points, so execution should emphasize unit finishes, curb appeal, and resident services to protect pricing power and renewal rates.
- 2003 vintage competes well versus older stock; plan selective system and finish updates for durability
- Neighborhood occupancy near the national upper-midrange supports leasing stability and retention
- 3-mile household growth outlook expands the tenant base and supports absorption
- Manageable rent-to-income dynamics favor renewal strategy over aggressive premium chasing
- Risks: below-median metro safety rank and modest school ratings; potential competition from entry-level ownership