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7006 Andalucia Lane Killeen, TX 76542

4 Beds 2 Baths 2,074 sqft Built 2010

$245,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $118.13
  • 4 Days on Market
  • MLS # : 5030127
  • Updated Date : 01/21/2021 at 20:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,074 sqft
  • Baths : 2 full
Listing Agent

The Salas Team, Ltd

Listing Agent's Description

Gorgeous single family home in a wonderful neighborhood just minutes from Stillhouse lake and shopping. Upon entry you will notice the amazing office that is perfect for anyone that works from home. Fabulous living room is open to the kitchen and dining area and includes a marvelous corner stone fireplace, stained concrete floors, and French doors that lead to the back covered patio. Complete kitchen is equipped with updated light fixtures, granite countertops, and wrap around island. Master bedroom has its own ensuite that includes a garden tub, separate stand up shower, double vanity, and walk- in closet. Backyard has a large covered patio, storage shed, and is completely fenced.

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

Zip Code: 76542

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170kPrice in $102k179k

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

Zip Code: 76542

ZipNIR Market*CityMarket2015Year2009 Q32019 Q21020104010601080110011201140116011801200122012401260Rent in $10111262

* 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
Timber Ridge Elementary School Primary Regular 1,089 64 5
Liberty Hill Middle School Middle Regular 898 53 6
Harker Heights High School High Regular 2,354 146 5

Timber Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,089
  • # of teachers: 64
5
GreatSchools Rating

Liberty Hill Middle School

  • Education Level: Middle
  • # of students: 898
  • # of teachers: 53
6
GreatSchools Rating

Harker Heights High School

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

$220,500$269,500$245,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$851
Property Tax -$509
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
$355

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.

$245,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.80%

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$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$31,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,950
$1,950
RENT COMPS ANALYSIS
  • 7006 Andalucia Lane Killeen, TX 2
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 7608 Blue Nile Drive Killeen, TX 1
    • 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2018
    property image
    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 #: 5030127
Last Updated: 01/21/2021
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