Friends in Austin: Killeen, Temple, or Elgin?

[Saumon E.]

Hi all.

I'm looking into the surrounding Austin area for my first rental investment property.

My agent found me 10 properties matching what I'm looking for, and we boiled it down to 3.

Since I'm out of state and unfamiliar with the area, I was hoping to gain some insight and tips from those familiar with the area. The 3 we've short-listed are located in Killeen, Temple, and Elgin.

Cap rate for Elgin property would be about 8%.

For Killeen property would be 13%.

Temple property would be 12%.

Appreciate any insight on these towns!

Thanks.

[Jason Perkins]

I agree with @Tyler Hogan on this one.  Temple in located right on the I35 corridor, is a nicer town than Killeen, and is seeing a good amount of new development in the area.