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2602 Cross Timber Drive Killeen, TX 76543

3 Beds 2 Baths 1,128 sqft Built 1996

$128,000

List Price

$820

$738 - $902

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $113.48
  • 2 Days on Market
  • MLS # : 5551302
  • Updated Date : 07/13/2021 at 01:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,128 sqft
  • Baths : 1 full , 1 half
Listing Agent

Robert Petmecky Realtor

Listing Agent's Description

Lovely single-family home in quiet neighborhood just minutes from Long Branch Park, Fort Hood, and restaurants. Spacious living room with complete kitchen with electric range and refrigerator, ample cabinet space, built in microwave over range. Primary bedroom has its own ensuite half bath. Backyard is fenced and is the perfect place for all your outdoor activities. Do not miss out on this great home, so schedule your tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
Hay Branch Elementary School Primary Regular 649 44 4
Rancier Middle School Middle Regular 715 43 4
Killeen High School High Regular 2,228 142 4

Hay Branch Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 44
4
GreatSchools Rating

Rancier Middle School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 43
4
GreatSchools Rating

Killeen High School

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

$115,200$140,800$128,000

PURCHASE PRICE

$738$902$820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $820
EXPENSES Loan Payment -$445
Property Tax -$269
Property Insurance -$86
Property Management Fees -$99
CASH FLOW
-$79

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.

$128,000

PROJECTED PRICE

$820

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

11530-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$39,670

INVESTMENT

$39,670

Down Payment
$32,000
Rehab Estimate
$5,750
Closing Costs
$1,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$445

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $32,000
Loan Amount $96,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $820

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $846

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$820
1$8202$8753$1,150
$1,150
RENT COMPS ANALYSIS
  • 2602 Cross Timber Drive Killeen, TX 1
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $820
    • $0.73
    •  
  • 4814 Lake Rd Killeen, TX 2
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1983
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.67
    •  
  • 3612 Warfield Drive Killeen, TX 3
    • 4 beds 2 baths ∙ 1,268 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,268 Sqft ∙ Built 1998
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.91
    •  
PROPERTY LISTING DETAILS
Robert Petmecky
Robert Petmecky Realtor
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5551302
Last Updated: 07/13/2021
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