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409 Tomahawk Drive Harker Heights, TX 76548

4 Beds 2 Baths 1,571 sqft Built 1994

$199,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $127.24
  • 4 Days on Market
  • MLS # : 2052367
  • Updated Date : 03/04/2021 at 22:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

The Salas Team, Ltd

Listing Agent's Description

Beautiful single-family home just minutes from Union Grove Middle School, Mountain View Elementary School, and Carl Levin Park. Spacious living room has a wood burning fireplace, lighted ceiling fan, plush carpet, large windows, and door to the exterior of the home. Complete kitchen is equipped with stainless steel appliances, ample cabinets, island, breakfast bar, and dining area. Master bedroom has its own ensuite that includes a double vanity, garden tub, separate stand-up shower, and walk-in closet. Backyard is completely fenced and has an amazing inground pool 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 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Union Grove

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $104k202k

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

Neighborhood: Union Grove

NeighborhoodNIR Market*CityMarket2015Year2009 Q32019 Q210501100115012001250130013501400Rent in $10391434

* 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
Mountain View Elementary School Primary Regular 886 53 6
Union Grove Middle School Middle Regular 879 50 7
Harker Heights High School High Regular 2,354 146 5

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 886
  • # of teachers: 53
6
GreatSchools Rating

Union Grove Middle School

  • Education Level: Middle
  • # of students: 879
  • # of teachers: 50
7
GreatSchools Rating

Harker Heights High School

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

$179,910$219,890$199,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$694
Property Tax -$408
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
$9

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.

$199,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 1.7%
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$100k$200k$300k$400k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$3,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,700
$1,700
RENT COMPS ANALYSIS
  • 409 Tomahawk Drive Harker Heights, TX 1
    • 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $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
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 #: 2052367
Last Updated: 03/04/2021
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