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10580 Penelope Way Converse, TX 78109

3 Beds 2 Baths 1,594 sqft Built 2020

INVESTimate

$232,990

List Price

$1,530

$1,377 - $1,683

Rent Est.

$247,389  ( +6.18%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $146.17
  • 6 Days on Market
  • MLS # : 1478571
  • Updated Date : 08/25/2020 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,594 sqft
  • Baths : 2 full
Listing Agent

Escape Realty

Listing Agent's Description

Welcome to the Polo floorplan, a one-story home that boasts 1,594 square feet of functional living space and features 3 bedrooms, 2 bathrooms, and a 2-car garage. The highly efficient flow of this M/I Home is sure to accommodate the lifestyle of your family! Upon entering this home from your covered porch, two private secondary bedrooms and a full bathroom are situated directly off of the entry. Further down the opposite side of the foyer you will find a large laundry room. The open-concept living space includes the family room, dining area, and kitchen. Enjoy an impressive kitchen finished with granite countertops, a great kitchen island, and spacious upper and lower cabinets. Looking for even more space? Choose an add-on dining room extension or add an optional covered patio- perfect for entertaining! Enter your owner's suite through a private entry off the family room. The owner's bedroom features and three large windows with an optional extended bay window that can be selected to maximize space with plenty of natural light. Your owner's bath retreat awaits you through optional double doors, complete with a walk-in shower and a large walk-in closet. Here you also have the option to upgrade the bathroom to include a separate bath and shower combination as well as a second sink.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • The metro contributes to 7.2 percent of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: East San Antonio

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k204k

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

Neighborhood: East San Antonio

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6791456

* 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
John Glenn Elementary School Primary Regular 615 37 4
Heritage Middle School Middle Regular 1,150 64 2
East Central High School High Regular 2,943 146 3

John Glenn Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 37
4
GreatSchools Rating

Heritage Middle School

  • Education Level: Middle
  • # of students: 1,150
  • # of teachers: 64
2
GreatSchools Rating

East Central High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 146
3
GreatSchools Rating
 

$209,691$256,289$232,990

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$860
Property Tax -$523
Property Insurance -$119
HOA -$23
Property Management Fees -$99
CASH FLOW
-$94

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$232,990

PROJECTED PRICE

$1,530

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 6.18%
Maintenance Year (1-5) 3.00%
Vacancy 9.54%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,742

INVESTMENT

$63,742

Down Payment
$58,248
Rehab Estimate
$2,000
Closing Costs
$3,495

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$860

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,248
Loan Amount $174,743
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6003$1,6354$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 10580 Penelope Way Converse, 1
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.96
    •  
  • 6207 Campfire Cove Converse, 2
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2017
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 10403 Midsummer Meadow Converse, 3
    • 4 beds 2 baths ∙ 1,699 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,699 Sqft ∙ Built 2020
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.96
    •  
  • 6030 Snorkel Sq Converse, 4
    • 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 2017
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 10675 Pablo Way Converse, 5
    • 4 beds 2 baths ∙ 1,667 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,667 Sqft ∙ Built 2018
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jaclyn Calhoun
1.210.421.9291
Escape Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1478571
Last Updated: 08/25/2020
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