| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 35th | Fair |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 614 Stringer St, Killeen, TX, 76541, US |
| Region / Metro | Killeen |
| Year of Construction | 1974 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
614 Stringer St Killeen Value-Add Multifamily
Renter concentration is high in the surrounding neighborhood, supporting tenant demand even as local occupancy trends are softer, according to WDSuite’s CRE market data.
Located in Killeen’s inner-suburban fabric, the property benefits from a renter-leaning neighborhood profile and everyday retail access. Restaurants and groceries are comparatively dense for the metro — restaurants rank near the top among 139 Killeen–Temple neighborhoods and grocery availability is also strong — while specialty amenities like parks, pharmacies, cafes, and childcare are limited nearby.
The neighborhood’s housing stock skews mid-1970s; with a 1974 vintage, this asset is slightly older than the area average (1976), implying near- to medium-term capital planning and potential value-add or repositioning to improve competitiveness versus newer product.
Unit tenure patterns point to depth on the demand side: an estimated 62% of neighborhood housing units are renter-occupied (top decile nationally), which supports leasing velocity and a stable tenant base for workforce housing. By contrast, neighborhood occupancy is lower than typical levels, signaling the need for disciplined operations and pricing. Median contract rents in the neighborhood remain comparatively modest, while home values are also lower than many U.S. areas — a combination that can create some competition from ownership but still leaves room for well-managed rentals to retain residents through service and convenience.
Within a 3-mile radius, households have increased despite a small population dip in recent years, indicating smaller household sizes and more household formation, which can expand the renter pool. Projections from WDSuite indicate growth ahead through 2028 with rising household counts and incomes, supporting future demand for rental units and potential rent growth if operations and product quality are aligned with local preferences.
Safety indicators for the neighborhood sit roughly around national norms overall, with mixed signals at the subcategory level. Compared with the 139 neighborhoods across the Killeen–Temple metro, the area’s composite crime position is slightly below the metro median (a lower rank indicates more crime), but recent trends show improvement.
Nationally, the neighborhood’s overall safety aligns near the middle of the pack, while violent-offense metrics track below national averages; however, both violent and property offense rates have moved down over the past year, indicating directional improvement. Investors should underwrite to current operating practices (lighting, access control, and visibility) and monitor ongoing trend data rather than relying on block-level assumptions.
Regional employers within commuting range provide diversified job access that can support renter demand and retention for workforce-oriented units. The list below highlights corporate offices to the south and southeast that expand employment options for residents.
- Raymond James — financial services offices (33.1 miles)
- Farmers Insurance - Doug Gaul — insurance offices (41.0 miles)
- Dell Technologies — technology & corporate functions (43.5 miles) — HQ
This 72-unit, 1974-vintage community sits in a renter-heavy Killeen neighborhood where median asking rents remain accessible and grocery and dining access are strong for the metro. The vintage suggests pragmatic capital planning and selective value-add to enhance curb appeal and interior finishes, improving competitive positioning versus mid-2000s stock while maintaining a workforce price point. Based on CRE market data from WDSuite, neighborhood occupancy is softer than typical levels, so performance will hinge on disciplined leasing, renewals, and product differentiation.
Within a 3-mile radius, household counts have risen and are projected to grow further through 2028 as household sizes decline, expanding the tenant base and supporting occupancy stability. Lower home values relative to many U.S. markets can create some competition with entry-level ownership, but the area’s high share of renter-occupied units and commuting access to regional employers underscore durable multifamily demand if operations stay focused on service and affordability management.
- Renter-heavy neighborhood supports steady tenant base and leasing velocity.
- 1974 vintage offers value-add and modernization opportunities to boost competitiveness.
- Household growth within 3 miles points to a larger renter pool and better retention potential.
- Accessible rents and strong everyday retail access align with workforce demand.
- Risk: Neighborhood occupancy trends are softer; underwrite to conservative lease-up and proactive renewal strategy.