| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 45th | Good |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 118 Elm St, Gatesville, TX, 76528, US |
| Region / Metro | Gatesville |
| Year of Construction | 1986 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
118 Elm St, Gatesville Multifamily Investment
Neighborhood occupancy is solid and renter-occupied housing approaches half of local units, according to WDSuite’s CRE market data, supporting a steady tenant base for a 1986-vintage asset. Directionally affordable rents and a high-cost ownership context for the metro reinforce rental staying power, though lease management remains key.
Located in Gatesville within the Killeen-Temple, TX metro, the neighborhood is rated A and ranks 17 out of 139 metro neighborhoods — competitive among Killeen-Temple submarkets for investors screening stabilized cash flow and value-add potential. Neighborhood occupancy sits above the national median, and the renter-occupied share is near half of units, which supports demand depth for multifamily.
Amenities skew practical: grocery, pharmacy, and park access are each above national medians, while cafés are limited. Average school ratings are competitive locally (rank 9 of 139), indicating comparatively stronger education options that can aid family retention and lease stability. Median contract rents in the neighborhood track on the lower side nationally with moderate 5-year growth, creating room to manage affordability pressure and renewal outcomes.
Within a 3-mile radius, WDSuite shows recent population growth with a larger household size and a projected increase in both population and households over the next five years — a setup that points to renter pool expansion and supports occupancy stability. The current owner/renter mix in that 3-mile area tilts modestly toward owners but is projected to shift toward a renter majority, a positive directional signal for multifamily property research when evaluating long-term demand.
Vintage context matters: the neighborhood’s average construction year is 1976, while this property was built in 1986. The 1986 vintage positions the asset newer than much of the local stock, which can improve competitive standing versus older properties; investors should still plan for aging systems and targeted modernization to sustain performance.
Home values in the neighborhood are lower relative to national markets, which can introduce some competition from ownership alternatives. However, rent-to-income levels trend on the lighter side nationally, suggesting manageable affordability pressure that can support retention and measured pricing power when paired with prudent lease management.
Comparable, neighborhood-level safety metrics are not available in WDSuite for this location. Investors typically benchmark crime trends against metro and national baselines to gauge tenant retention and insurance planning; consider supplementing with recent municipal data and operator references to establish directional context.
The investment case centers on stable neighborhood occupancy, a renter-occupied share near half of local units, and forward-looking household and population growth within a 3-mile radius — all supportive of tenant demand and leasing durability. Built in 1986, the asset is newer than the local average vintage, offering relative competitiveness versus older stock while leaving room for targeted value-add to refresh systems and common areas. According to CRE market data from WDSuite, rents are directionally affordable in this neighborhood, which can aid renewals and reduce turnover, even as ownership remains relatively accessible compared with higher-cost markets.
Key considerations include balancing affordability-driven pricing power with local income levels and monitoring micro-area population changes, as some nearby blocks have seen contraction even as the broader 3-mile catchment grows. Operational focus on retention, unit turns, and selective upgrades should position the asset to capture steady demand and manage risk.
- Occupancy above national median and renter-occupied depth support leasing stability.
- 3-mile radius shows population and household growth, expanding the tenant base.
- 1986 vintage is newer than local average, with potential for targeted value-add.
- Directionally affordable rents aid renewals and measured pricing strategies.
- Risks: accessible ownership options and uneven micro-neighborhood trends may temper rent growth; focus on retention and expense control.