| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 36th | Fair |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 605 Atkinson Ave, Killeen, TX, 76541, US |
| Region / Metro | Killeen |
| Year of Construction | 1976 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
605 Atkinson Ave, Killeen TX Multifamily Value-Add
Renter concentration in the neighborhood is high, supporting a deeper tenant base even as occupancy trends run below the metro median, according to WDSuite’s CRE market data.
This Inner Suburb location in Killeen offers everyday convenience with solid access to essentials. Neighborhood amenities are mixed: grocery availability is competitive among Killeen-Temple neighborhoods and above national averages, while parks are a standout strength with presence in the top quartile nationally. Cafés and pharmacies are relatively sparse, which moderates walkable lifestyle appeal but does not materially detract from workforce housing demand.
Renter-occupied housing accounts for a large share of neighborhood units (top national percentile), indicating a broad tenant pool and consistent leasing activity for smaller properties. By contrast, neighborhood occupancy is below the metro median, suggesting more competition for leases and the need for disciplined operations and pricing. Median contract rents have grown over the last five years from a low base, which supports gradual revenue gains while keeping rent-to-income around levels consistent with lease retention.
The property s construction year is 1976, a bit newer than the neighborhood s average vintage. For investors, that implies potential value-add via targeted renovations and systems updates while maintaining a cost basis that can compete against older stock.
Demographic statistics within a 3-mile radius point to a stable-to-growing renter pool: recent population growth is modest, but households increased and are projected to expand further, with smaller average household sizes over time. This dynamic typically supports steady demand for smaller units and can help sustain occupancy once effective rents are aligned with local incomes.
Home values in the neighborhood are low relative to national benchmarks, creating a more accessible ownership market that can compete with rentals. However, given the area s high renter concentration, multifamily assets that balance value and livability can still achieve retention, particularly when offering renovated finishes and reliable property management.
Safety indicators are mixed and should be underwritten with care. The neighborhood ranks 91 out of 139 Killeen-Temple metro neighborhoods on crime, which is below the metro average, and crime levels sit below the national median based on percentile comparisons. Property incidents show a recent year-over-year decline, while violent incidents show a slight uptick; together, these trends suggest conditions are in flux rather than uniformly improving.
In practical terms, investors should plan for standard security measures and emphasize tenant screening and lighting/camera upgrades as part of value-add scopes. Ongoing monitoring of neighborhood-level trends is advisable to track whether recent declines in property offenses persist.
Regional employment access is diversified across financial services, insurance, and technology, supporting commuter demand for rentals. Notable employers within driving range include Raymond James, Farmers Insurance, and Dell Technologies.
- Raymond James
- Farmers Insurance - Doug Gaul
- Dell Technologies
605 Atkinson Ave is a 22-unit asset with smaller average unit sizes that fit local renter preferences and price points. Renter concentration in the surrounding neighborhood is high by national comparison, supporting a deeper tenant base, while occupancy trends trail the metro median and call for focused leasing, renewals, and competitive renovations.
The 1976 vintage positions the property for value-add: selective interior updates, exterior refresh, and system reliability work can help differentiate against older stock. Based on CRE market data from WDSuite, neighborhood rents have risen off a low base and home values remain modest, which together support an attainable positioning strategy that prioritizes retention over aggressive premiums. Demographic statistics within a 3-mile radius indicate recent household growth with further expansion projected, which typically supports occupancy stability for well-managed workforce housing.
- High renter concentration supports a larger tenant base and ongoing leasing activity
- Value-add potential from 1976 vintage via targeted renovations and system upgrades
- Attainable rent positioning supported by modest local home values and rising rents from a low base
- 3-mile household growth and projected expansion reinforce long-run renter demand
- Risks: neighborhood occupancy below metro median and crime metrics warrant enhanced operations and security planning