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2005 Stonehenge Drive Harker Heights, TX 76548

4 Beds 2 Baths 1,855 sqft Built 2004

$219,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $118.54
  • 7 Days on Market
  • MLS # : 5037887
  • Updated Date : 12/10/2020 at 17:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

The Salas Team, Ltd

Listing Agent's Description

Beautiful single family home in a wonderful neighborhood near Harker Heights High School, Harker Heights Community Park, shopping, and restaurants. Upon entry you are welcomed to a spacious living room that has a wood burning fireplace that matches the exterior of the home, doors to the exterior, and gorgeous flooring. Complete kitchen is equipped with stainless steel appliances, ample cabinets, tile flooring, and dining area. Master bedroom has an ensuite that includes a double vanity, garden tub, and separate stand up shower. Amazing backyard is completely fenced and has a large covered patio making it the perfect place for all your guest. Do not miss out on this great home, so schedule your private tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 76548

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190kPrice in $104k195k

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

Zip Code: 76548

ZipNIR Market*CityMarket2015Year2009 Q32019 Q21100115012001250130013501400Rent in $10511415

* 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
Skipcha Elementary School Primary Regular 978 59 8
Eastern Hills Middle School Middle Regular 737 48 4
Harker Heights High School High Regular 2,354 146 5

Skipcha Elementary School

  • Education Level: Primary
  • # of students: 978
  • # of teachers: 59
8
GreatSchools Rating

Eastern Hills Middle School

  • Education Level: Middle
  • # of students: 737
  • # of teachers: 48
4
GreatSchools Rating

Harker Heights High School

  • Education Level: High
  • # of students: 2,354
  • # of teachers: 146
5
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$811
Property Tax -$449
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$76

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$219,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 0.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.62%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$8,995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,700
$1,700
RENT COMPS ANALYSIS
  • 2005 Stonehenge Drive Harker Heights, TX 1
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.84
    •  
  • 7608 Blue Nile Drive Killeen, TX 2
    • 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2018
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
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 #: 5037887
Last Updated: 12/10/2020
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