| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 512 W Green Ave, Killeen, TX, 76541, US |
| Region / Metro | Killeen |
| Year of Construction | 1977 |
| Units | 29 |
| Transaction Date | 2008-12-29 |
| Transaction Price | $310,000 |
| Buyer | ANTE UP HOLDINGS LLC |
| Seller | TEXAS STAR BANK SSB |
512 W Green Ave Killeen Multifamily Investment
Neighborhood data points to a durable renter base and strong daily-needs access, according to WDSuite’s CRE market data, though occupancy in the immediate area has been softer and warrants active leasing strategy.
The property sits in an inner-suburb location of Killeen with convenient access to daily necessities. Neighborhood amenities skew toward food and essentials: the area ranks among the top Killeen-Temple neighborhoods for restaurants and is competitive for grocery access (ranked 4th out of 139 metro neighborhoods), while parks, cafes, childcare, and pharmacies are limited. For investors, this mix supports day-to-day livability and foot traffic but may not deliver lifestyle-driven premiums without asset-level upgrades.
Renter concentration is meaningful at the neighborhood level, indicating a solid foundation for multifamily demand. At the same time, neighborhood occupancy has trailed stronger subareas but has improved over the past five years, suggesting room for performance gains through targeted operations and unit positioning.
Within a 3-mile radius, demographics show modest population growth and a larger increase in household counts, which points to a gradually expanding tenant base. Projections indicate continued growth in both households and incomes by 2028, implying a deeper pool of prospective renters and potential support for occupancy stability over the medium term.
Relative pricing dynamics are a consideration. Neighborhood rents trend below national levels, while home values are comparatively low for owners, which can introduce some competition from entry-level ownership. Rent-to-income ratios in the neighborhood indicate affordability pressure for some households, so revenue management should balance pricing power with retention.
Safety metrics are mixed. The neighborhood ranks below the metro average for safety (ranked 93rd out of 139 Killeen-Temple neighborhoods), and national comparisons place it below the median. Property crime sits in lower national percentiles, while violent incidents—though also below national medians—have declined year over year, indicating recent improvement momentum.
- Raymond James — financial services offices (33.9 miles)
- Farmers Insurance - Doug Gaul — insurance offices (41.7 miles)
- Dell Technologies — technology (44.2 miles) — HQ
Regional employment nodes within commuting range can broaden the renter pool for certain segments; nearby corporate offices in financial services, insurance, and technology provide diversified demand drivers.
This 29-unit asset offers exposure to a renter-heavy Killeen location with strong restaurant and grocery access but limited park and cafe infrastructure. Neighborhood occupancy has been softer yet improving, while 3-mile household growth and income gains suggest a gradually expanding tenant base. Rents trend below national levels, positioning the asset for value-oriented demand if paired with thoughtful unit finishes and leasing strategy.
Within a 3-mile radius, the share of renter-occupied housing is high and households are projected to grow further, supporting depth of demand and potential retention. At the same time, affordability pressure in the immediate neighborhood and accessible ownership options argue for disciplined revenue management and resident experience to sustain occupancy, based on multifamily property research from WDSuite.
- Renter-heavy local landscape supports a broad tenant base and leasing continuity.
- Strong restaurant and grocery access underpins daily-needs livability for residents.
- Household and income growth within 3 miles point to medium-term demand support.
- Value positioning potential with below-national rent levels if paired with targeted renovations.
- Risks: softer neighborhood occupancy, affordability pressure, and competition from entry-level ownership require disciplined revenue and retention strategies.