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502 Cheetah Trail Harker Heights, TX 76548

4 Beds 4 Baths 2,518 sqft Built 1987

$275,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $109.21
  • 3 Days on Market
  • MLS # : 3689830
  • Updated Date : 12/18/2020 at 22:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,518 sqft
  • Baths : 2 full , 2 half
Listing Agent

Avo Realty, Llc

Listing Agent's Description

Looking for a great property in Harker heights? Look no further! Space is not an issue in this well-maintained home that comes with a swimming pool and a hot tub! This property has a large living room and a loft family room that's perfect for family or game night. The kitchen will not disappoint you either! Lots of cabinet space, granite counters and the command central to make organization easy. Relax in your spacious master bedroom that comes with an inviting jetted corner tub and secondary bedrooms are spacious too! Yard is big enough for gardening and for kids/pets to play around and a 3-car side entry garage. Property is close to local shopping, dining and the community park too. Schedule your showing 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: 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
Mountain View Elementary School Primary Regular 886 53 6
Eastern Hills Middle School Middle Regular 737 48 4
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

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,015
Property Tax -$561
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$74

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.

$275,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.64%

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$600k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8553$2,000
$2,000
RENT COMPS ANALYSIS
  • 502 Cheetah Trail Harker Heights, TX 1
    • 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.70
    •  
  • 202 E Cherokee Dr Harker Heights, TX 2
    • 5 beds 2 baths ∙ 2,397 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,397 Sqft ∙ Built 1973
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,855
    • $0.77
    •  
  • 220 W Iowa Drive Harker Heights, TX 3
    • 5 beds 4 baths ∙ 2,833 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,833 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
PROPERTY LISTING DETAILS
Ronald Spencer
1.512.402.3660
Avo Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3689830
Last Updated: 12/18/2020
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