| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 51st | Good |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 208 Veterans Ave, Copperas Cove, TX, 76522, US |
| Region / Metro | Copperas Cove |
| Year of Construction | 1982 |
| Units | 22 |
| Transaction Date | 2016-09-12 |
| Transaction Price | $550,000 |
| Buyer | DAHDOUH KARIM |
| Seller | BONEWELL BRYON B |
208 Veterans Ave, Copperas Cove Multifamily Investment
Neighborhood occupancy sits near the metro middle with steady five-year improvement, signaling resilient renter demand according to WDSuite’s CRE market data. A 1982 vintage and smaller unit mix position this 22-unit asset for pragmatic value-add in a workforce-oriented pocket of the Killeen-Temple metro.
This suburban Copperas Cove location offers livability tailored to workforce renters: grocery access is comparatively better than many peers in the metro (ranked 41st of 139 neighborhoods; above national median), while cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood. Average school ratings trend slightly above the national median (3.0 out of five; 61st percentile), which can support longer tenancy for households.
For investors, neighborhood occupancy is reported at 90.4% with a multi-year upward trend, indicating stability through cycles rather than peak-driven performance. Contract rents in the neighborhood have risen meaningfully over five years, outpacing local income gains, which suggests recovered pricing power but also warrants attention to affordability and renewal strategies.
The surrounding 3-mile radius shows population growth over the last five years with additional gains projected, alongside a rising household count and a smaller average household size. These dynamics typically expand the tenant base and support occupancy stability for smaller formats. The renter-occupied share across the same 3-mile area stands at 43.2%, indicating a deep pool of renter households that can sustain leasing velocity for comparable multifamily assets.
Construction patterns nearby skew late-1970s on average; this property’s 1982 vintage is somewhat newer than the neighborhood norm. That positioning can be competitive versus older stock while still leaving room for targeted system updates and interior refreshes to enhance leasing performance.
Relative to the Killeen-Temple metro, the neighborhood’s overall crime rank sits near the metro median (58th of 139 neighborhoods). Nationally, it trends around the middle as well (55th percentile). Year over year, both violent and property offense rates have moved lower, with declines that place the area among stronger improvers across peer neighborhoods nationwide.
For underwriting, this points to a generally stable environment with recent positive momentum. As always, compare submarket-level trends to property-level security features and management practices when assessing retention and operating assumptions.
Regional employment is diversified, and commuting access connects residents to office and services roles across the broader Killeen-Temple area. Notable nearby employer presence includes Raymond James, supporting white-collar demand that can aid retention.
- Raymond James — corporate offices (35.9 miles)
The investment case centers on steady renter demand, a workforce orientation, and measured value-add potential. Based on CRE market data from WDSuite, neighborhood occupancy has trended up and sits near the metro middle, while five-year rent gains signal restored pricing power. The 1982 vintage is slightly newer than the late-1970s neighborhood average, creating a path to competitive positioning with targeted renovations and system updates. Within a 3-mile radius, population and households have increased with projections for further growth and smaller household sizes, expanding the tenant base for compact units like those at this property.
Ownership costs in the immediate area are comparatively accessible, which can create some competition with entry-level ownership; however, a sizable 3-mile renter-occupied share supports depth of demand. Amenities are thinner within the neighborhood, placing more weight on in-unit features and management quality to drive renewals. Overall, the thesis favors durable leasing supported by regional employment access and pragmatic value-add execution, balanced by affordability and amenity considerations.
- Upward-trending neighborhood occupancy supports steady cash flow potential
- 1982 vintage offers value-add levers versus older late-1970s stock
- 3-mile population and household growth expand the local renter pool
- Restored pricing power from recent rent gains, with attention to renter affordability
- Risks: amenity-light micro-location and ownership alternatives may temper rent push