Killeen Texas multi family real estate income investing

5 Replies

I would like to buy a four plex in Killeen texas that is fully rented as an income property. Killeen has the largest Military base in world, Fort Hood. Killeen is 45 minutes out of Austin. Does this small city have future potential?

Hello @Lauren Berryhill

Killeen actually isn't that small a city, depending on what you consider small. Killeen alone has over 130,000 people, which makes it the largest city between Dallas and Austin, larger than Waco, Round Rock/Georgetown, and everything. 

The market - especially fourplexes - have been trending upwards recently just based on median prices, rising over 5% in 2017. That is small compared to hot Austin markets and the like, but favorable. Fourplexes have gotten quite a bit more competitive recently, but there are still quite a few available and a few I am aware coming on the market in the next few months that should be good ones.

I wrote a BP blog post here about fourplexes in the area - I hope it's helpful! If you're still looking for any, let me know as I would love to help. 

https://www.biggerpockets.com/blogs/10185/66309-ki...

Originally posted by @Brian Adams :

Hello @Lauren Berryhill

Killeen actually isn't that small a city, depending on what you consider small. Killeen alone has over 130,000 people, which makes it the largest city between Dallas and Austin, larger than Waco, Round Rock/Georgetown, and everything. 

The market - especially fourplexes - have been trending upwards recently just based on median prices, rising over 5% in 2017. That is small compared to hot Austin markets and the like, but favorable. Fourplexes have gotten quite a bit more competitive recently, but there are still quite a few available and a few I am aware coming on the market in the next few months that should be good ones.

I wrote a BP blog post here about fourplexes in the area - I hope it's helpful! If you're still looking for any, let me know as I would love to help. 

https://www.biggerpockets.com/blogs/10185/66309-ki...

The greater Waco Metropolitan area is about 265,000 in population.  Waco city limits is about 135,000

@Marshall Hooper

Yes, for simplicity's sake, I only compared the city populations. The Killeen number doesn't include Harker Heights, Copperas Cove, Nolanville and other areas. If Temple/Belton is included in the "Killeen metropolitan area" as it is in the census MSA definition, the population is approximately 450,000 versus Waco's 250,000.

@Brian Adams I'm interested in Killeen as well. Would you mind if I gave you a call?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.