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1701 Quarry Drive Killeen, TX 76543

3 Beds 2 Baths 1,704 sqft Built 2003

$144,900

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $85.04
  • 5 Days on Market
  • MLS # : 5379073
  • Updated Date : 01/03/2021 at 03:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full
Listing Agent

The Salas Team, Ltd

Listing Agent's Description

Charming 3 bed, 2 bath home located conveniently near shopping and restaurants in central Killeen. Home offers a wonderful open floor plan that makes entertaining easy. The spacious kitchen offers plenty of cabinets, countertop space and center island to meet any cooks needs. Master bedroom has its own ensuite that includes a double vanity and shower/ tub combo. Covered back patio and large back yard are ready for those Texas BBQ's. Do not miss out on this great home, so schedule your private tour today!

SEE MORE

MARKET HIGHLIGHTS

  • #2 in Top 10 cities for entrepreneurs and start-ups (Business.org, 2018)
  • #3 on Best Cities for Renters (Smart Asset, July 2018)
  • #1 in 125 Best Places to Live in the USA (U.S. News, 2019)
  • Austin metro employment growth is at 3.4% and predicted to grow at 2.9% in 2019 (USMayors.org, 2018)
  • Companies with headquarters and major regional presence in Austin: Dell, Whole Foods, Apple, AMD, IBM, Flextronics, Google, Facebook, National Instruments, and Freescale Semiconductor. Apple announced an investment of $1 billion in a new 133-acre campus in Austin accommodating an additional 5,000 employees.
  • Austin metro has 70% labor force participation rate, one of the highest in the nation and higher than the national rate 62.8% (USMayors.org, 2018)
  • Austin ranks #7 in total venture capital deals flow with $1.84 billion venture funding flowing in to the metro in 2019, an increase of 19.5% from the previous year (Crunchbase News, 2020)
  • Austin metro contributes to 8.4% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 in U.S. Cities attracting the most workers and a preferred destination for job movers (LinkedIn, August 2018; Glassdoor May 2018 )
  • Austin metro economy is worth over $153 billion in Gross Metro Product and projected to grow to $162 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 76543

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170kPrice in $78k179k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76543

ZipNIR Market*CityMarket2015Year2009 Q32019 Q2900920940960980100010201040106010801100112011401160Rent in $8831171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ira Cross Elementary School Primary Regular 760 47 6
Manor Middle School Middle Regular 728 47 4
Killeen High School High Regular 2,228 142 4

Ira Cross Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 47
6
GreatSchools Rating

Manor Middle School

  • Education Level: Middle
  • # of students: 728
  • # of teachers: 47
4
GreatSchools Rating

Killeen High School

  • Education Level: High
  • # of students: 2,228
  • # of teachers: 142
4
GreatSchools Rating
 

$130,410$159,390$144,900

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$535
Property Tax -$305
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
$95

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$144,900

PROJECTED PRICE

$1,150

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.48%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,149

INVESTMENT

$44,149

Down Payment
$36,225
Rehab Estimate
$5,750
Closing Costs
$2,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$535

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,225
Loan Amount $108,675
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$8,730

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,150

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,159

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,1503$1,200
$1,200
RENT COMPS ANALYSIS
  • 1701 Quarry Drive Killeen, TX 2
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.67
    •  
  • 1211 Saddle Dr Killeen, TX 1
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2002
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.70
    •  
  • 3903 Basset Court Killeen, TX 3
    • 4 beds 2 baths ∙ 1,821 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,821 Sqft ∙ Built 2004
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.66
    •  
PROPERTY LISTING DETAILS
Shelly Salas
1.254.616.0356
The Salas Team, Ltd
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5379073
Last Updated: 01/03/2021
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