| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 14th | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2787 S Martin Luther King Jr Dr, Temple, TX, 76504, US |
| Region / Metro | Temple |
| Year of Construction | 2003 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2787 S Martin Luther King Jr Dr Temple Multifamily Investment
Renter concentration and expanding household counts in the immediate area point to durable tenant demand, according to WDSuite’s CRE market data. The asset’s 65 units can target a deep renter pool while management focuses on occupancy stability and selective upgrades.
This Inner Suburb pocket of Temple shows investment-friendly fundamentals for workforce housing. Neighborhood occupancy is modest relative to the Killeen-Temple metro (ranked 82 among 139 neighborhoods), but a high renter-occupied share (62%, top quartile nationally) supports depth of demand and day-one leasing velocity. Restaurants and groceries are competitive among metro peers (both ranked 47 of 139), while parks, pharmacies, and cafes are thinner locally, implying residents rely on nearby corridors for broader amenities. Based on commercial real estate analysis from WDSuite, these dynamics typically favor properties that emphasize convenience, parking, and in-unit functionality over destination-style common areas.
The average construction year in the surrounding neighborhood trends newer (2013), while the subject asset was built in 2003. That vintage gap suggests a straightforward value-add path: exterior refresh, unit interiors, and systems planning to stay competitive versus newer stock, with potential to widen the renter audience through modern finishes and energy-efficient upgrades.
Within a 3-mile radius, population and household counts have risen meaningfully over the past five years and are projected to keep growing through 2028. Forecasts indicate further renter pool expansion alongside smaller average household sizes, a combination that typically supports occupancy stability and demand for mid-sized units. Median contract rents in the area have moved up from prior years and are projected to continue rising, while a neighborhood-level rent-to-income profile around the low-20% range points to manageable affordability pressure and opportunities for disciplined pricing.
Home values in the neighborhood sit in a mid-range for the region, with a value-to-income ratio that is above the national midpoint. In practice, that signals a high-cost ownership market relative to local incomes, reinforcing sustained reliance on rental options and supporting lease retention for well-managed multifamily assets.
Safety indicators present a mixed but improving picture. Metro-relative rank suggests this neighborhood experiences higher reported incidents than many Killeen-Temple peers (ranked 4 among 139 neighborhoods, where a lower rank indicates more crime), yet national comparisons place the area in the top quartile for safety overall. Recent trend data also point to sharp year-over-year declines in both property and violent offense estimates, according to WDSuite’s datasets, which is constructive for long-term leasing stability.
For underwriting, investors may assume elevated security and lighting standards, active property management, and coordination with local resources. Monitoring trend continuity matters more than any single snapshot, especially when the metro-versus-national signals diverge.
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Built in 2003 with 65 units and generous average square footage, the property is positioned for value-add execution in a renter-heavy neighborhood. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than the metro median, but a high share of renter-occupied housing and growing 3-mile demographics support a stable tenant base and measured rent growth. The vintage relative to newer nearby stock highlights clear opportunities in interiors, curb appeal, and energy-efficiency upgrades to enhance competitiveness.
Ownership costs in the area are relatively elevated versus incomes, which tends to sustain multifamily demand and lease retention for well-managed assets. Forward-looking projections for population and households within 3 miles point to a larger renter pool and continued interest in practical, mid-size floor plans, while disciplined affordability management can preserve occupancy and reduce turnover risk.
- Renter-heavy neighborhood and expanding 3-mile household base support demand and occupancy stability.
- 2003 vintage offers clear value-add and systems planning to compete with newer nearby stock.
- Ownership costs relative to incomes reinforce reliance on rental housing, aiding lease retention and pricing power.
- Softer neighborhood occupancy and mixed safety signals require active management, security focus, and conservative underwriting.