| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 45th | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 506 N 1st St, Copperas Cove, TX, 76522, US |
| Region / Metro | Copperas Cove |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
506 N 1st St, Copperas Cove TX Multifamily Investment
Renter concentration in the neighborhood supports a stable tenant base, while the 1980 vintage suggests value-add potential, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood of the Killeen-Temple metro carries a B+ rating and ranks 37 out of 139 locally, indicating competitive positioning among area neighborhoods. Neighborhood occupancy trends are steady, and the share of housing units that are renter-occupied is high, placing the area in the top national tier for renter concentration — a positive signal for multifamily demand depth.
Amenities are mixed. Grocery access is a relative strength (above the national median), while parks, pharmacies, and cafes are sparse. Average school ratings skew below national norms, which can temper some family-driven demand, but proximity to daily-needs retail helps with renter convenience and retention.
Within a 3-mile radius, population and households have grown in recent years, and WDSuite indicates further household expansion ahead. This points to a larger tenant base and supports occupancy stability over time, even as household sizes gradually trend smaller. Neighborhood rents remain comparatively low in nominal terms and rent-to-income levels are moderate, which can aid lease retention and measured pricing power for well-positioned assets.
The property’s 1980 construction year is older than the neighborhood’s average vintage. For investors, this typically means planning for capital improvements and creating renovation-driven upside to stay competitive versus newer stock.
Safety indicators are mixed relative to national benchmarks. Overall crime performance is around the national middle, while violent-offense measures sit below the national median. Importantly, WDSuite’s data shows year-over-year declines in both violent and property offenses, suggesting recent improvement. Conditions can vary by block and over time, so investors should underwrite to current, neighborhood-level trends rather than isolated incidents.
- Raymond James — corporate offices (36.4 miles)
This 20-unit asset offers exposure to a renter-oriented neighborhood where the share of renter-occupied housing ranks near the top nationally, supporting demand resilience and a deeper leasing pool. Neighborhood rents are comparatively low and rent-to-income measures are moderate, providing room for thoughtful rent optimization as upgrades are delivered. Based on CRE market data from WDSuite, nearby household growth within a 3-mile radius and steady neighborhood occupancy trends point to a stable operating backdrop.
Built in 1980, the property is older than the neighborhood average, which underscores a clear value-add thesis: targeted exterior, systems, and interior updates to enhance competitiveness versus newer stock. Investors should also account for mixed amenity coverage and school ratings, and continue to monitor safety metrics that have recently improved but remain variable across subareas.
- High renter concentration supports demand depth and leasing stability.
- Moderate rent-to-income levels with relatively low nominal rents enable measured pricing power post-renovation.
- 1980 vintage presents renovation and value-add potential to improve relative positioning.
- 3-mile household growth and steady neighborhood occupancy, per WDSuite, support long-term fundamentals.
- Risks: uneven amenity coverage, below-average school ratings, and safety metrics that warrant continued monitoring.