| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 37th | Fair |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 511 W Avenue V, Temple, TX, 76504, US |
| Region / Metro | Temple |
| Year of Construction | 1979 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
511 W Avenue V, Temple Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand and around-median occupancy, according to WDSuite s CRE market data, supporting a straightforward income strategy for a 25-unit asset in Temple.
This Inner Suburb neighborhood in Temple is rated A- (ranked 24th among 139 metro neighborhoods), placing it competitive among Killeen-Temple neighborhoods. Local convenience is a strength: cafes rank 8th of 139 and groceries 24th of 139 metro neighborhoods, and pharmacy access ranks 1st of 139. These translate into day-to-day livability advantages that help with leasing and retention. Park access is limited, so outdoor space programming on-site can be a differentiator.
Rents in the neighborhood sit below national medians while the renter-occupied share of housing is high (ranked 8th of 139 in the metro; top percentile nationally), signaling a deep tenant base and resilient multifamily demand. Neighborhood occupancy trends are near the metro median (ranked 70th of 139; around the national midpoint), which supports stable operations but places a premium on effective leasing and renewal management.
Within a 3-mile radius, demographics show population growth since 2018 and a projected increase through 2028, along with faster household growth and slightly smaller average household sizes. For investors, this points to a larger tenant base and more renters entering the market, reinforcing occupancy stability for well-positioned properties.
Ownership remains relatively accessible in this area (low national percentile for home values), which can create competition with entry-level ownership options; however, moderate rent-to-income levels and a strong renter concentration tend to sustain rental demand and support lease retention for practical, well-managed units.
Safety indicators show mixed but improving dynamics. Relative to the Killeen-Temple metro, the neighborhood sits below the metro median for safety (ranked 26th among 139), suggesting investors should underwrite with prudent security and lighting measures. Nationally, property offense measures compare above the median, while violent offense sits near the national midpoint.
One-year trend data indicates sharp declines in both property and violent offense estimates, which, if sustained, can support resident retention and leasing. As always, investors should corroborate trends over multiple periods and consider property-level mitigation strategies.
Regional employers support a diversified workforce within the broader commute shed, providing a steady renter pipeline for workforce housing. Notable nearby corporate offices include the following organizations.
- Raymond James corporate offices (35.8 miles)
- Farmers Insurance - Doug Gaul corporate offices (38.4 miles)
This 25-unit property offers exposure to a neighborhood with strong renter concentration and around-median occupancy, supporting consistent cash flow potential with disciplined operations. According to CRE market data from WDSuite, neighborhood rents are comparatively accessible against national levels, which can aid lease-up and renewal strategies while maintaining a broad tenant pool.
Built in 1979, the asset may benefit from targeted capital planning and value-add upgrades to improve competitive positioning against newer stock. Within a 3-mile radius, expectations for continued population growth and faster household formation through 2028 point to renter pool expansion, which can support occupancy stability and measured rent growth for well-managed units. Balancing these positives, relatively accessible ownership options in the area introduce competition, making property differentiation and asset management execution key.
- High renter-occupied share at the neighborhood level underpins demand depth and supports leasing stability.
- Around-median neighborhood occupancy with accessible rents supports steady cash flow with effective renewal management.
- 1979 vintage offers value-add potential through targeted renovations and systems upgrades.
- 3-mile demographic growth outlook expands the tenant base and supports long-term demand.
- Risk: accessible ownership alternatives require product differentiation and disciplined asset management to sustain pricing power.