| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 14th | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1638 Case Rd, Temple, TX, 76504, US |
| Region / Metro | Temple |
| Year of Construction | 2006 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1638 Case Rd, Temple TX Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and steady household growth, according to WDSuite’s CRE market data, positioning this asset for durable leasing in Temple’s inner-suburban corridor.
Located in Temple’s Inner Suburb, the neighborhood rates C+ and is competitive among Killeen–Temple neighborhoods (ranked 87 of 139). Amenities are adequate for daily needs, with grocery and restaurant access tracking above metro medians, while cafes and parks are limited. These fundamentals suit workforce-oriented renters who prioritize value and proximity over lifestyle retail.
Multifamily dynamics are balanced. Neighborhood occupancy is near the national middle, suggesting room for operational upside via leasing and retention initiatives. Median contract rents are moderate for the metro and have trended upward over the last five years, supporting incremental revenue management rather than outsized jumps.
Tenure skews renter-occupied at the neighborhood level (about six in ten housing units), indicating a deep tenant base and reinforcing demand stability for a 40-unit property. Within a 3-mile radius, population and households have expanded meaningfully over the past five years, and forward-looking projections indicate continued household growth and smaller average household sizes by 2028 — dynamics that typically enlarge the renter pool and support occupancy stability.
Ownership costs remain accessible relative to coastal markets but elevated enough versus local incomes to sustain reliance on rental options. Median home values sit in the lower middle of national comparisons, while the value-to-income ratio trends higher nationally, which can support lease retention and steady absorption for well-managed multifamily assets.
The property’s 2006 vintage is older than the neighborhood’s newer housing stock (average construction year 2013). Investors should plan for targeted capital improvements and consider value-add scopes (exteriors, interiors, or systems) to sharpen competitive positioning against newer deliveries.
Safety indicators, measured at the neighborhood level, compare favorably on a national basis: recent estimates place both violent and property offenses in the top quartile nationally for lower incident rates. According to CRE market data from WDSuite, the latest year also shows sizable declines in estimated offense rates, which aligns with improving conditions observed across parts of the Killeen–Temple region.
As with any submarket, conditions can vary by block and over time. Investors should rely on trend comparisons and multiple sources when underwriting, using neighborhood-level data as context rather than expecting property-specific outcomes.
Regional employers within commuting distance contribute to a diversified job base that supports renter demand and lease retention, including financial services and insurance offices noted below.
- Raymond James — financial services (35.8 miles)
- Farmers Insurance - Doug Gaul — insurance (38.0 miles)
This 40-unit, 2006-vintage asset benefits from a renter-heavy neighborhood and growing 3-mile household counts, supporting a larger tenant base over time. Rents are moderate with demonstrated five-year growth, which, alongside neighborhood occupancy near the national middle, points to operational upside through leasing discipline and targeted upgrades. Based on commercial real estate analysis from WDSuite, ownership costs relative to income help sustain reliance on multifamily rentals, reinforcing demand for well-managed properties.
Relative to newer nearby stock, 2006 construction may require selective capital planning to modernize interiors or building systems; however, this also creates value-add potential to capture rent premiums versus the immediate competitive set. Trend improvements in neighborhood safety metrics further support tenant retention and underwriting confidence while warranting standard local diligence.
- Renter-heavy neighborhood and expanding 3-mile household base support durable demand
- Moderate rents with five-year growth enable disciplined revenue management
- 2006 vintage offers value-add potential via targeted renovations and systems upgrades
- Nationally favorable safety trends support retention and leasing stability
- Risks: competition from newer stock and the need for capex to sustain competitive positioning