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10618 Mustang Ridge Converse, TX 78109

3 Beds 2 Baths 1,583 sqft Built 1993

$209,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $132.03
  • 4 Days on Market
  • MLS # : 1512179
  • Updated Date : 03/04/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,583 sqft
  • Baths : 2 full
Listing Agent

Icon Realty

Listing Agent's Description

Lots of updates! A/C 5 yrs old 4 ton, Roof 7 yrs, Double Pane Windows 5 yrs. old, Siding lifetime guarantee transferrable, Kitchen has tiled backsplash, Master bath has garden tub and separate shower, fenced backyard w/ patio and deck, Water Softener. MUST SEE!!! $3,000 carpet allowance.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Antonio metro economy is worth $130 billion in Gross Metro Product and projected to grow to $136 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cimarron

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $86k205k

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

Neighborhood: Cimarron

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
Crestview Elementary School Primary Regular 568 40 10
Kitty Hawk Middle School Middle Regular 1,298 83 6
Veterans Memorial High School High Regular NA

Crestview Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 40
10
GreatSchools Rating

Kitty Hawk Middle School

  • Education Level: Middle
  • # of students: 1,298
  • # of teachers: 83
6
GreatSchools Rating

Veterans Memorial High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$726
Property Tax -$465
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
-$38

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.

$209,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 7.0%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,302

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,3704$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 10618 Mustang Ridge Converse, TX 3
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.87
    •  
  • 10006 Coast Ridge Dr Converse, TX 1
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1983
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.79
    •  
  • 10308 Flatland Trail Converse, TX 2
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1984
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 10314 Mustang Ridge Converse, TX 4
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1996
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.80
    •  
  • 10326 Windburn Trail Converse, TX 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1981
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Barbie Mendicutti
1.210.254.3080
Icon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1512179
Last Updated: 03/04/2021
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