Anyone else following the Killeen market? I just noticed a bunch of new pre-construction duplex's listed on MLS. They are being listed in tracks of 6-12 units. All 3/2's with an advertised future rents of $1350. Back of the envelope shows a 0.73% deal.
Anyone have any insights?
I'm not seeing those properties, but to me, a 0.73% is not a good return for a duplex.
@Pete Harper What do you like about the Killeen market? How is the crime in your opinion?
I misspoke, the properties are going to be in Coppers Cove. They are just listed as pre-construction.
@Justin G. Killeen is very different compared to other small cities in central Texas. The old downtown can be pretty rough. There was a recent article about North Killeen becoming a food desert. Grocery stores have closed moving to the East and South parts of town. Anyone interested in investing needs to tour the area before investing. Drive around and get a feel for the different neighborhoods. A block or two can make a big difference. Also talk to a local PM and ask if they will manage properly in that area.
@Pete Harper Thanks for the insight!