3908 Lakecliff Dr · Harker Heights, TX 76548

$164,900

3 bd · 2.0 ba · 1,313 sqft · SingleFamily public records · 126 Days on market

Built 1996 0.49 ac lot $126/sqft · 28% below area Est $229k · 28% under ↓ 27% since listing

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.2/30.0
• ARV discount +15.0/15.0
• 1% rule +5.6/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3908 Lakecliff Drive in Harker Heights! This 3 bedroom, 2 bathroom home is located on an oversized .495 acre lot with shade trees, storage sheds and front entry 2 car garage. The interior is ready for an owner to creatively make it their own. The entry leads to the living room with a fireplace and is open to the enclosed patio, dining room and kitchen. The secondary bedrooms are separated from the primary and have their own full bathroom. The primary bed room has a walk in closet and on suite bathroom with a single vanity and walk in tub. Enjoy the peaceful setting this home is located in with roaming deer and within minutes to Stillhouse Lake. Schedule your appointment to look at this one today!

Key facts

• Shade trees
• Walk in closet
• Oversized lot

Tags

• OVERSIZED LOT
• SHADE TREES
• STORAGE SHEDS
• FIREPLACE
• ENCLOSED PATIO
• WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.8% in Harker Heights — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#61 in TX, #2,271 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Killeen ISD (urban): math 31% / reading 38% proficiency, ranked #524 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 267 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,222 units permitted in Bell County in 2024 (246 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Bell County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 7.8

CMA / ARV

• ARV (median comp): $229,029
• List price: $164,900
• Delta: -23.63%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4005 Lakecliff Dr	0.13mi	3/2.0	1,396 (+6%)	1mo	$229,000	$164	83
4112 Lakecliff Dr	0.38mi	3/2.0	1,317 (+0%)	22mo	$250,000	$190	63
4116 Lakecliff Dr	0.42mi	3/2.0	1,295 (-1%)	23mo	$229,000	$177	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.47×
• Total profit: $-24,690
• Equity at exit: $24,587

10-year hold

• IRR: -11.3%
• Equity multiple: 0.39×
• Total profit: $-28,025
• Equity at exit: $14,258

Cash invested: $46,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76548

• Home prices YoY: -25.2%
• Rents YoY: 0.9%
• Active inventory: 267
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,755 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$367 /mo · $4,406/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $86

Break-even live

Break-even rent $1,646

Max offer price $164,900

Occupancy floor 90%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1810 Mesa Oaks Cir Harker Heights, TX	3.0	2.0	1780	$2,000	$1.12	13d	1	1.02mi

Listing history 35 events

1. 2026-06-19
   price $164,900 Active 126 DOM
2. 2026-06-18
   days on market $174,900 Active 126 DOM
3. 2026-06-17
   days on market $174,900 Active 125 DOM
4. 2026-06-16
   days on market $174,900 Active 124 DOM
5. 2026-06-15
   days on market $174,900 Active 123 DOM
6. 2026-06-14
   days on market $174,900 Active 121 DOM
7. 2026-06-13
   days on market $174,900 Active 120 DOM
8. 2026-06-10
   days on market $174,900 Active 118 DOM
9. 2026-06-09
   days on market $174,900 Active 117 DOM
10. 2026-06-08
    days on market $174,900 Active 116 DOM
11. 2026-06-07
    days on market $174,900 Active 115 DOM
12. 2026-06-03
    days on market $174,900 Active 111 DOM
13. 2026-06-02
    days on market $174,900 Active 110 DOM
14. 2026-06-01
    days on market $174,900 Active 109 DOM
15. 2026-05-31
    days on market $174,900 Active 108 DOM
16. 2026-05-30
    days on market $174,900 Active 107 DOM
17. 2026-03-25
    price $174,900 716-char remark

    Show marketing remark (717 chars)

    Welcome to 3908 Lakecliff Drive in Harker Heights! This 3 bedroom, 2 bathroom home is located on an oversized . 495 acre lot with shade trees, storage sheds and front entry 2 car garage. The interior is ready for an owner to creatively make it their own. The entry leads to the living room with a fireplace and is open to the enclosed patio, dining room and kitchen. The secondary bedrooms are separated from the primary and have their own full bathroom. The primary bed room has a walk in closet and on suite bathroom with a single vanity and walk in tub. Enjoy the peaceful setting this home is located in with roaming deer and within minutes to Stillhouse Lake. Schedule your appointment to look at this one today!

18. 2026-03-25
    price $174,900 717-char remark

    Show marketing remark (717 chars)

    Welcome to 3908 Lakecliff Drive in Harker Heights! This 3 bedroom, 2 bathroom home is located on an oversized . 495 acre lot with shade trees, storage sheds and front entry 2 car garage. The interior is ready for an owner to creatively make it their own. The entry leads to the living room with a fireplace and is open to the enclosed patio, dining room and kitchen. The secondary bedrooms are separated from the primary and have their own full bathroom. The primary bed room has a walk in closet and on suite bathroom with a single vanity and walk in tub. Enjoy the peaceful setting this home is located in with roaming deer and within minutes to Stillhouse Lake. Schedule your appointment to look at this one today!

19. 2026-03-25
    price $174,900

    Show marketing remark (717 chars)

    Welcome to 3908 Lakecliff Drive in Harker Heights! This 3 bedroom, 2 bathroom home is located on an oversized . 495 acre lot with shade trees, storage sheds and front entry 2 car garage. The interior is ready for an owner to creatively make it their own. The entry leads to the living room with a fireplace and is open to the enclosed patio, dining room and kitchen. The secondary bedrooms are separated from the primary and have their own full bathroom. The primary bed room has a walk in closet and on suite bathroom with a single vanity and walk in tub. Enjoy the peaceful setting this home is located in with roaming deer and within minutes to Stillhouse Lake. Schedule your appointment to look at this one today!

20. 2026-02-12
    listed $179,900 Active 717-char remark

    Show marketing remark (717 chars)

    Welcome to 3908 Lakecliff Drive in Harker Heights! This 3 bedroom, 2 bathroom home is located on an oversized . 495 acre lot with shade trees, storage sheds and front entry 2 car garage. The interior is ready for an owner to creatively make it their own. The entry leads to the living room with a fireplace and is open to the enclosed patio, dining room and kitchen. The secondary bedrooms are separated from the primary and have their own full bathroom. The primary bed room has a walk in closet and on suite bathroom with a single vanity and walk in tub. Enjoy the peaceful setting this home is located in with roaming deer and within minutes to Stillhouse Lake. Schedule your appointment to look at this one today!

21. 2026-02-11
    listed $179,900 Active 716-char remark

    Show marketing remark (716 chars)

    Welcome to 3908 Lakecliff Drive in Harker Heights! This 3 bedroom, 2 bathroom home is located on an oversized .495 acre lot with shade trees, storage sheds and front entry 2 car garage. The interior is ready for an owner to creatively make it their own. The entry leads to the living room with a fireplace and is open to the enclosed patio, dining room and kitchen. The secondary bedrooms are separated from the primary and have their own full bathroom. The primary bed room has a walk in closet and on suite bathroom with a single vanity and walk in tub. Enjoy the peaceful setting this home is located in with roaming deer and within minutes to Stillhouse Lake. Schedule your appointment to look at this one today!

22. 2026-02-10
    listed $179,900 Active
23. 2026-01-12
    historical
24. 2025-12-09
    price $189,900
25. 2025-11-11
    price $194,900
26. 2025-10-15
    price $199,900
27. 2025-09-10
    price $209,900
28. 2025-09-03
    status Active
29. 2025-08-31
    historical
30. 2025-08-22
    price $219,900
31. 2025-08-15
    status Active
32. 2025-07-16
    price $229,900
33. 2025-06-02
    listed $239,900 Active
34. 1996-04-08
    soldstatus
35. 1995-11-02
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $4,406 · $367/mo
• Projected year-2 tax: $4,406 · $367/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,065
• − Mortgage interest: −$9,237
• − Property taxes: −$4,406
• − Insurance: −$824
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$4,797
• Taxable loss: −$1,570
• Est. tax savings @ 24.0%: +$377
• After-tax cash flow: $1,411/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Killeen ISD
• NCES district ID: 4825660
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $47,665
• Composite: 29.69/100
• National rank: #6458
• State rank: #524 of 826 in TX

Livability — Harker Heights

• Score: 79/100
• State rank: #61
• US rank: #2271

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A- Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harker Heights, TX
• County: Bell County · 345,090 people
• City population: 33,729
• Metro: Killeen-Temple, TX
• Population (ZIP): 33,729
• Household income: $80,520
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 672.0

Population outlook (Bell County) Hauer SSP2

• Today (2025): 371,114 people
• By 2030: 389,104 · +4.8%
• By 2040: 420,592 · +13.3%
• By 2050: 447,779 · +20.7%
• By 2075: 499,130 · +34.5%
• By 2100: 505,680 · +36.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 40% Black 27% Hispanic / Latino 22% Two or more races 13% Asian 3% Pacific Islander 2% Native American 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3%
• Common ancestry: Iranian 3% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · Spanish 9% French/Haitian/Cajun 2% German/W. Germanic 1%

Political lean MEDSL · Bell

• 2024 margin: R (+16.2) · D 41.3% · R 57.6% · Other 1.1%
• 2008→2024 swing: -6.5pp toward R · 2008: -9.8pp · 2024: -16.2pp
• All cycles: 2024: R+16.2 2020: R+8.5 2016: R+15.1 2012: R+16.4 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.76%
• Current HPI: 156.4499
• Rent YoY: ▲ 0.93%
• Metro: Killeen-Temple, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-27.1% since first listed

19 events — show timeline

• 2026-03-25 Price Changed $174,900 NTREIS
• 2026-03-25 Price Changed $174,900 Unlock MLS
• 2026-03-25 Price Changed $174,900 CTXMLS
• 2026-02-12 Listed $179,900 Unlock MLS
• 2026-02-11 Listed $179,900 NTREIS
• 2026-02-10 Listed $179,900 CTXMLS
• 2026-01-12 Listing Removed — CTXMLS
• 2025-12-09 Price Changed $189,900 CTXMLS
• 2025-11-11 Price Changed $194,900 CTXMLS
• 2025-10-15 Price Changed $199,900 CTXMLS
• 2025-09-10 Price Changed $209,900 CTXMLS
• 2025-09-03 Relisted — CTXMLS
• 2025-08-31 Listing Removed — CTXMLS
• 2025-08-22 Price Changed $219,900 CTXMLS
• 2025-08-15 Relisted — CTXMLS
• 2025-07-16 Price Changed $229,900 CTXMLS
• 2025-06-02 Listed $239,900 CTXMLS
• 1996-04-08 Sold (Public Records) — Public Records
• 1995-11-02 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,406 · +10.1% YoY. Source: county tax records.