| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 513 S Old Betsy Rd, Keene, TX, 76059, US |
| Region / Metro | Keene |
| Year of Construction | 1988 |
| Units | 88 |
| Transaction Date | 2016-04-11 |
| Transaction Price | $7,650,000 |
| Buyer | DFW Hospital Provider |
| Seller | Local Owner/Operator |
513 S Old Betsy Rd, Keene TX — 88-Unit Multifamily Position
Neighborhood occupancy in Keene is around the metro middle and supports steady leasing conditions, according to CRE market data from WDSuite. The location offers a cost-conscious renter profile that can underpin retention and manageable turnover.
Keene sits within the Fort Worth–Arlington–Grapevine metro and functions as a rural, lower-density submarket with a practical renter base. Neighborhood occupancy is in the mid range among 561 metro neighborhoods, and the rent-to-income profile is moderate (neighborhood rent-to-income indicates manageable affordability), which can support lease retention and stable collections, based on WDSuites CRE market data.
Amenities are limited in the immediate neighborhood (few cafes, groceries, or parks per square mile), so many residents likely rely on nearby corridors for daily needs. Average school ratings in the neighborhood are on the lower end nationally, which investors should consider when positioning family-oriented unit mixes and amenities.
Renter concentration at the neighborhood level is roughly one-third of housing units being renter-occupied, indicating a tenant base that is present but not dominant; this typically supports stable demand for workforce-oriented multifamily without excessive competitive pressure from neighboring rentals. Median contract rents in the neighborhood sit near the national midrange, and home values are comparatively accessible versus higher-cost metros — a dynamic that can introduce some competition from ownership but also helps sustain balanced rent-to-income ratios and renewal velocity.
Within a 3-mile radius, households have grown in recent years even as overall population remained roughly flat, pointing to smaller household sizes and an expanding count of addressable households. Forward-looking 3-mile forecasts show increases in both population and households, suggesting a larger tenant base over the medium term, which can support occupancy stability and measured rent growth.
Comparable crime metrics for this neighborhood were not available in the current WDSuite data release. Investors should assume typical rural-suburban variability and confirm conditions through on-the-ground diligence, local law enforcement briefings, and insurer feedback to benchmark against nearby Fort Worth–Arlington submarkets.
Regional employment is anchored by corporate offices across manufacturing, homebuilding, airlines, and healthcare services, providing diversified job nodes within commuting range that can support renter demand and renewal stability. Employers highlighted below reflect realistic commute sheds relevant to Keene.
- Ball Metal Beverage Packaging — beverage packaging (18.2 miles)
- D.R. Horton — homebuilding (25.5 miles) — HQ
- Parker Hannifin Corporation — industrial manufacturing (26.2 miles)
- American Airlines Group — airlines (34.5 miles) — HQ
- Express Scripts — pharmacy benefits (34.6 miles)
Built in 1988, the property is slightly older than the neighborhoods average vintage, pointing to potential value-add through interior upgrades, exterior refresh, and systems modernization. Neighborhood occupancy sits around the metro median with moderate rent-to-income, reinforcing a base case of steady leasing rather than outsized volatility. Household growth within a 3-mile radius and forecast gains point to a larger tenant base over time, while regional employment nodes within commuting range diversify demand. According to commercial real estate analysis from WDSuite, the area shows balanced rent levels relative to income, supporting renewal probability and measured pricing power.
Key considerations include limited walkable amenities, lower neighborhood school ratings, and some competition from comparatively accessible homeownership options; underwriting should reflect capex for a 1980s asset and conservative lease-up assumptions. The upside case centers on value-add execution, durable workforce demand, and population and household growth that supports occupancy stability.
- 1988 vintage suggests actionable value-add via interior updates and systems upgrades
- Mid-pack neighborhood occupancy and moderate rent-to-income support lease retention
- Growing 3-mile household counts and regional employers expand the tenant base
- Balanced rent levels relative to income allow measured pricing without stressing affordability
- Risks: limited nearby amenities, below-average school ratings, and ownership competition; budget capex accordingly