| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 39th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 W Main St, Troy, TX, 76579, US |
| Region / Metro | Troy |
| Year of Construction | 1985 |
| Units | 56 |
| Transaction Date | 2023-07-18 |
| Transaction Price | $3,192,000 |
| Buyer | CKBM GROUP LLC-SERIES 101 |
| Seller | BROWN HOUSTON R |
120 W Main St, Troy TX Multifamily Value-Add Opportunity
Neighborhood fundamentals indicate tight renter demand and stable occupancy, according to WDSuite s CRE market data, with a renter share expected to expand over the next few years. This positions the asset for steady leasing while leaving room for operational and renovation-driven upside.
Set within a suburban pocket of the Killeen Temple, TX metro, the neighborhood carries a C+ rating and performs above metro median (rank 90 of 139) on overall factors. Local retail, grocery, parks, and cafes are sparse, signaling a car-dependent setting; investors should underwrite convenience expectations accordingly for resident retention and leasing.
Occupancy is a notable strength: the neighborhood ranks 1st of 139 metro neighborhoods for occupancy, placing it in the top tier nationally for stability. Rent-to-income sits in a favorable range for long-term lease management, supporting measured pricing power without overextending affordability.
Housing stock skews newer (average construction year 2019; rank 6 of 139, 99th national percentile), which raises the competitive bar for finishes and systems. A 1985-vintage asset can compete with targeted capital planning that modernizes interiors and common areas, creating a clear value-add path against younger comparables.
School quality trends are a relative positive (average around 3.5/5 and within the top quartile nationally), which can help sustain household stability. Median home values are around national mid-range, suggesting an ownership market that does not fully displace rental demand and can support retention for well-managed multifamily.
Tenure and demographics point to an expanding renter base. Within a 3-mile radius, renter-occupied share is lower today but is projected to rise over the next five years, implying a larger tenant pool and potential depth for lease-up. WDSuite s data also indicates households are growing even as average household size trends smaller, which typically supports demand for rental units and occupancy durability.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location, so investors should benchmark the property s operating history against metro and city trends when accessible. In practice, many investors triangulate resident feedback, local law enforcement summaries, and insurance underwriting to contextualize risk without overstating block-level conditions.
This 56-unit, 1985-vintage asset in Troy benefits from neighborhood occupancy leadership and a renter pool that is expected to deepen, supporting stable cash flow with room for value creation. Based on CRE market data from WDSuite, the immediate area maintains top-ranked occupancy in the Killeen Temple metro, while rent-to-income levels suggest capacity for thoughtful pricing and retention-focused lease management.
With newer competing stock across the submarket, targeted renovations and systems updates can sharpen positioning and NOI. Household growth within a 3-mile radius, alongside smaller household sizes, indicates more renters entering the market even as population projections moderate a dynamic that can sustain leasing velocity for well-run properties.
- Neighborhood occupancy ranks first in the metro, supporting leasing stability.
- 1985 vintage offers value-add potential versus newer local stock.
- Favorable rent-to-income dynamics support measured pricing power and retention.
- 3-mile household growth and smaller household sizes expand the renter pool.
- Risks: limited nearby amenities and moderating population projections warrant conservative underwriting on absorption and rent growth.