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10584 Penelope Way Converse, TX 78109

3 Beds 2 Baths 1,565 sqft Built 2020

INVESTimate

$234,990

List Price

$1,500

$1,350 - $1,650

Rent Est.

$249,512  ( +6.18%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $150.15
  • 6 Days on Market
  • MLS # : 1478575
  • Updated Date : 08/25/2020 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,565 sqft
  • Baths : 2 full
Listing Agent

Escape Realty

Listing Agent's Description

Welcome to the Polo floorplan, a one-story home that boasts 1,565 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

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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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$211,491$258,489$234,990

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

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-$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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$867
Property Tax -$523
Property Insurance -$117
HOA -$23
Property Management Fees -$99
CASH FLOW
-$130

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.

$234,990

PROJECTED PRICE

$1,500

PROJECTED RENT

0.64%

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$64,272

INVESTMENT

$64,272

Down Payment
$58,748
Rehab Estimate
$2,000
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,748
Loan Amount $176,243
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6354$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 10584 Penelope Way Converse, 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $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 #: 1478575
Last Updated: 08/25/2020
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