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10162 Red Iron Creek San Antonio, TX 78109

4 Beds 3 Baths 2,423 sqft Built 2006

$275,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $113.50
  • 13 Days on Market
  • MLS # : 1494397
  • Updated Date : 11/22/2020 at 06:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,423 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Premier Realty

Listing Agent's Description

This beautiful, Well-kept home is not far from anything a person might want to do. Very close to Randolph Airforce Base. The home has a beautiful inground pool with a surrounding covered patio great for entertaining. The roof and A/C are fairly new. This corner lot has alot of room even with the pool. One of the nicest homes in the subdivision. A Must see! Vacation in your back yard every day. Wont lasts long. Make the Appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • The metro contributes to 7.2 percent of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • San Antonio metro economy is worth $130 billion in Gross Metro Product and projected to grow to $136 billion in 2019 (USMayors.org, 2018)
  • Five Fortune 500 companies are headquartered in San Antonio: Valero Energy; Tesoro; United Services Automobile Association (USAA); CST Brands; and iHeart Media (Formerly CC Media Holdings).
  • The metro employment growth is at 2.3 per cent and predicted to be at 2.2% in 2019 (USMayors.org, 2018)
  • San Antonio metro has 60.7 percent labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Converse

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k205k

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

Neighborhood: Converse

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28008509009501000105011001150120012501300135014001450Rent in $7991472

* 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
Barbara C. Jordan Intermediate School Primary Regular 648 40 6
Ray D. Corbett Junior High School Middle Regular 1,089 61 7
Samuel Clemens High School High Regular 2,450 130 8

Barbara C. Jordan Intermediate School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 40
6
GreatSchools Rating

Ray D. Corbett Junior High School

  • Education Level: Middle
  • # of students: 1,089
  • # of teachers: 61
7
GreatSchools Rating

Samuel Clemens High School

  • Education Level: High
  • # of students: 2,450
  • # of teachers: 130
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,015
Property Tax -$4
Property Insurance -$167
HOA -$13
Property Management Fees -$99
CASH FLOW
$313

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

$1,610

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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 35% 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

10.5

YEARS SAVED

$49,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6105$1,750
$1,750
RENT COMPS ANALYSIS
  • 10162 Red Iron Creek San Antonio, TX 4
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.66
    •  
  • 9818 Coppercreek Converse, TX 1
    • 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 1996
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 8226 Coppergate Converse, TX 2
    • 3 beds 3 baths ∙ 2,451 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,451 Sqft ∙ Built 1999
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.65
    •  
  • 8302 Copperside Converse, TX 3
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1995
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 10435 Brisbane Riv Converse, TX 5
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2013
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
Mark Spytek
1.210.287.4582
Texas Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1494397
Last Updated: 11/22/2020
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