| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 41st | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2406 Saulsbury Dr, Temple, TX, 76504, US |
| Region / Metro | Temple |
| Year of Construction | 1983 |
| Units | 32 |
| Transaction Date | 2023-08-17 |
| Transaction Price | $2,369,062 |
| Buyer | JUNGMANN LLC |
| Seller | JOHN M MALEK CHARITABLE REMAINDER TRUST |
2406 Saulsbury Dr Temple Multifamily Investment
Neighborhood occupancy is exceptionally tight and renter demand is deep in this Temple, Texas submarket, according to WDSuite’s CRE market data. The setup favors stable leasing for a well-positioned asset while leaving room for value-add execution.
The property sits in a suburban neighborhood in Temple with a B+ rating and an occupancy environment that is currently at 100.0% for the neighborhood (ranked 1 of 139 metro neighborhoods). For investors, that points to low immediate vacancy risk and support for rent collections at the neighborhood level rather than at the individual property.
Renter-occupied housing accounts for 60.7% of units locally, placing the neighborhood in a high national percentile for renter concentration (94th). This level of renter presence broadens the tenant base and supports leasing velocity for multifamily. Median contract rents in the neighborhood are moderate and paired with a rent-to-income ratio around 0.18, suggesting manageable affordability pressure and potential for disciplined rent optimization, based on CRE market data from WDSuite.
Livability is mixed. Average school ratings are above national norms (61st percentile nationally; rank 14 of 139 in the metro), which can aid retention for family renters. By contrast, amenities are relatively thin (amenity measures sit below national averages, and cafes, parks, and pharmacies are limited nearby), so resident appeal may rely more on housing value, schools, and access to broader Temple/Killeen services rather than walkable retail density.
The asset’s 1983 vintage is older than the neighborhood’s average construction year of 1995. For underwriting, that typically means planning for near- to mid-term capital projects and provides value-add potential through interior upgrades and system modernization to compete with newer stock.
Within a 3-mile radius, recent trends show population and households expanding, with forecasts indicating further increases over the next five years. This growth implies a larger tenant base ahead and supports occupancy stability, while rising incomes and projected rent gains suggest room for revenue growth if repositioning aligns with local affordability.
Neighborhood-level crime metrics are not available in the current dataset for this location. Without a metro rank or national percentile, investors should rely on customary due diligence (police blotters, insurer reports, and property-level incident history) and compare trends to other Temple and Killeen-Temple neighborhoods for context.
Given the absence of a verified rank among the 139 metro neighborhoods, it is prudent to benchmark property operations (lighting, access control, and resident policies) against peer assets and to review recent trend data during underwriting rather than drawing conclusions from anecdotal sources.
Regional employers within broader commuting range can help diversify the tenant base, though daily commutes at these distances may fit only a subset of renters. Notable corporate offices include Raymond James and Farmers Insurance agencies in the wider area.
- Raymond James — financial services (37.5 miles)
- Farmers Insurance - Doug Gaul — insurance (40.5 miles)
This 32-unit, 1983-vintage asset benefits from a neighborhood with exceptionally tight occupancy (ranked 1 of 139 metro neighborhoods) and a renter-heavy housing mix, both supportive of stable leasing. The older vintage points to clear value-add levers through unit and system upgrades to compete with the 1990s-era neighborhood stock. According to CRE market data from WDSuite, local rents remain moderate relative to incomes, indicating room for disciplined rent growth as improvements elevate the offering.
Investor attention should center on capital planning and positioning. The area’s limited amenity density means retention hinges on functional renovations, management quality, and pricing strategy. Demographic expansion within a 3-mile radius—paired with projections for additional household growth—suggests a growing tenant pool, while relatively accessible ownership costs mean competitive pressure from for-sale housing should be monitored in underwriting.
- Tight neighborhood occupancy and high renter concentration support leasing stability
- 1983 vintage offers value-add potential via interiors and building systems
- Moderate rents vs. incomes enable disciplined revenue growth post-upgrades
- Growing 3-mile population and household counts expand the tenant base
- Risks: thinner local amenities, competition from ownership, and capex needs for an older asset