1708 Redwood Dr · Harker Heights, TX 76548

$225,000

3 bd · 2.0 ba · 2,223 sqft · SingleFamily public records · 72 Days on market

Built 1977 10,659 sqft lot $101/sqft · 17% below area Est $271k · 17% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single-story home offering great potential in a well-established neighborhood! Featuring a spacious layout, this property provides a solid foundation for homeowners or investors looking to add their personal touch. The home boasts a bright exterior with a combination of classic brick and siding. Inside, you’ll find a functional floor plan with plenty of natural light and room to customize. With just a few cosmetic updates, this home can truly shine and become a beautiful primary residence or investment opportunity. Conveniently located near local schools, shopping, and dining, this property combines location, space, and value.

Key facts

• 0.24 acre lot
• Built 1977
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (24.4% below list).
• Recommended offer: $170k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 72 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,189 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 11.0

CMA / ARV

• ARV (median comp): $271,106
• List price: $225,000
• Delta: -17.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 E Briarwood Ln	0.17mi	4/2.0 (+1)	2,265 (+2%)	2mo	$292,000	$129	82
1705 Redwood Dr	0.04mi	3/2.0	2,417 (+9%)	6mo	$300,000	$124	78
103 W Woodlawn Dr	0.44mi	3/2.0	2,186 (-2%)	12mo	$283,000	$129	66
403 Evergreen Dr	0.40mi	3/2.0	1,995 (-10%)	8mo	$340,000	$170	57
128 Shawnee Trl	0.54mi	4/2.0 (+1)	2,281 (+3%)	12mo	$275,000	$121	55
6300 Emilie Ln	0.66mi	3/2.0	2,378 (+7%)	4mo	$266,000	$112	54
2210 Calumet Dr	0.67mi	4/2.0 (+1)	2,351 (+6%)	2mo	$299,990	$128	53
2201 Calumet Dr	0.73mi	4/2.0 (+1)	2,283 (+3%)	9mo	$299,900	$131	49
210 Black Hawk Trl	0.71mi	3/2.0	1,990 (-10%)	6mo	$259,000	$130	45
104 Missouri Dr	0.71mi	4/2.0 (+1)	2,400 (+8%)	7mo	$360,000	$150	43
2421 Caroline Ct	0.71mi	4/2.0 (+1)	2,032 (-9%)	8mo	$280,000	$138	41
2209 Wickiup Trl	0.73mi	4/2.0 (+1)	2,410 (+8%)	12mo	$299,000	$124	37

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: -26.0%
• Equity multiple: 0.13×
• Total profit: $-54,520
• Equity at exit: $33,548

10-year hold

• IRR: -31.3%
• Equity multiple: -0.27×
• Total profit: $-79,827
• Equity at exit: $19,454

Cash invested: $63,000 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,702 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$300 /mo · $3,605/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-230

Break-even live

Break-even rent $1,993

Max offer price $184,436

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1612 Harley Dr Harker Heights, TX	4.0	2.0	1449	$1,495	$1.03	43d	1	0.27mi
226 Lottie Ln Harker Heights, TX	3.0	2.0	2469	$1,727	$0.70	43d	1	0.51mi
5302 Rose Garden Loop Unit 100P Killeen, TX	3.0	2.0	2492	$1,500	$0.60	13d	1	0.54mi
5402 Birmingham Cir Killeen, TX	4.0	2.0	2194	$1,900	$0.87	43d	1	0.63mi
5322 Birmingham Cir Killeen, TX	4.0	2.0	1773	$1,667	$0.94	43d	1	0.65mi
2128 Modoc Dr Harker Heights, TX	4.0	2.0	2283	$1,652	$0.72	23d	1	0.66mi
803 White Meadow Ln Unit B Harker Heights, TX	3.0	2.5	2802	$1,450	$0.52	43d	1	0.69mi
6110 Melanie Dr Killeen, TX	3.0	2.0	1814	$1,900	$1.05	23d	1	0.75mi
210 Dale Earnhardt Dr Unit B Harker Heights, TX	3.0	2.0	2275	$1,250	$0.55	43d	1	0.76mi
2208 Illinois Dr Harker Heights, TX	3.0	2.5	1894	$1,795	$0.95	23d	1	0.76mi
3020 Rain Dance Loop Harker Heights, TX	3.0	2.5	2212	$2,150	$0.97	43d	1	0.78mi
5106 White Rose Dr Killeen, TX	3.0	2.0	1419	$1,650	$1.16	43d	1	0.79mi
307 Illinois Dr Harker Heights, TX	3.0	2.0	2195	$1,875	$0.85	43d	1	0.84mi
506 Harley Dr Unit A Harker Heights, TX	2.0	1.0	1700	$800	$0.47	21d	1	0.91mi
2304 Skipcha Dr Harker Heights, TX	3.0	2.0	1892	$1,895	$1.00	13d	1	0.91mi
313 Jeff Gordon Dr Unit A Harker Heights, TX	3.0	2.0	2316	$1,125	$0.49	13d	1	1.02mi
5110 Glenoak Dr Killeen, TX	4.0	2.0	1929	$1,795	$0.93	43d	1	1.07mi
5107 Daybreak Dr Killeen, TX	3.0	2.0	2301	$1,175	$0.51	23d	1	1.07mi
5006 Morning Star Ln Killeen, TX	4.0	2.0	1611	$1,695	$1.05	23d	1	1.14mi
5006 Parkwood Dr Killeen, TX	4.0	2.0	1506	$1,550	$1.03	43d	1	1.18mi
4806 Greenlee Dr Killeen, TX	3.0	2.5	1620	$1,400	$0.86	43d	1	1.25mi
1701 Lynx Cir Harker Heights, TX	4.0	2.0	1451	$2,800	$1.93	43d	1	1.26mi
5010 White Rock Dr Killeen, TX	3.0	2.5	2249	$1,600	$0.71	43d	1	1.29mi
4716 Glass Mountain Dr Killeen, TX	3.0	2.0	1480	$1,545	$1.04	13d	1	1.34mi
5005 Shawn Dr Killeen, TX	3.0	2.0	1530	$1,400	$0.92	43d	1	1.34mi
237 N Mary Jo Dr Harker Heights, TX	3.0	2.0	2402	$1,150	$0.48	43d	1	1.39mi
5311 White Rock Dr Killeen, TX	4.0	2.5	2247	$1,975	$0.88	43d	1	1.39mi
4807 Teal Dr Killeen, TX	3.0	2.0	1421	$1,495	$1.05	43d	1	1.40mi
5510 Shawn Dr Killeen, TX	4.0	2.0	2186	$1,700	$0.78	23d	1	1.49mi
603 Mustang Trl Harker Heights, TX	4.0	2.5	2074	$2,000	$0.96	43d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $225,000 Active 72 DOM
2. 2026-06-17
   days on market $225,000 Active 71 DOM
3. 2026-06-16
   days on market $225,000 Active 70 DOM
4. 2026-06-15
   days on market $225,000 Active 69 DOM
5. 2026-06-14
   days on market $225,000 Active 67 DOM
6. 2026-06-13
   days on market $225,000 Active 66 DOM
7. 2026-06-10
   days on market $225,000 Active 64 DOM
8. 2026-06-09
   days on market $225,000 Active 63 DOM
9. 2026-06-08
   days on market $225,000 Active 62 DOM
10. 2026-06-07
    days on market $225,000 Active 61 DOM
11. 2026-06-03
    days on market $225,000 Active 57 DOM
12. 2026-06-02
    days on market $225,000 Active 56 DOM
13. 2026-06-01
    days on market $225,000 Active 55 DOM
14. 2026-05-31
    days on market $225,000 Active 54 DOM
15. 2026-05-30
    days on market $225,000 Active 53 DOM
16. 2026-04-07
    listed $225,000 Active 640-char remark

    Show marketing remark (640 chars)

    Single-story home offering great potential in a well-established neighborhood! Featuring a spacious layout, this property provides a solid foundation for homeowners or investors looking to add their personal touch. The home boasts a bright exterior with a combination of classic brick and siding. Inside, you’ll find a functional floor plan with plenty of natural light and room to customize. With just a few cosmetic updates, this home can truly shine and become a beautiful primary residence or investment opportunity. Conveniently located near local schools, shopping, and dining, this property combines location, space, and value.

17. 1993-01-19
    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: $3,605 · $300/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$512/yr (+$43/mo · 14.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,423
• − Mortgage interest: −$12,603
• − Property taxes: −$3,605
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,634
• − Management: −$1,634
• − Depreciation: −$6,545
• Taxable loss: −$6,724
• Est. tax savings @ 24.0%: +$1,614
• After-tax cash flow: $-1,142/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

2 events — show timeline

• 2026-04-07 Listed $225,000 CTXMLS
• 1993-01-19 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,605 · +10.1% YoY. Source: county tax records.