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10618 Penelope Way Converse, TX 78245

3 Beds 3 Baths 1,635 sqft Built 2019

$239,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $146.18
  • 4 Days on Market
  • MLS # : 1499025
  • Updated Date : 12/10/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,635 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gdp Realty

Listing Agent's Description

Ready to Move in January, 3 Bedroom, 2.5 Bath, 2 Car Garage. Granite at Kitchen Area, Energy Efficient / Smart Home, Includes Stove, Microwave, Dishwasher and Refrigerator.

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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$882
Property Tax -$532
Property Insurance -$121
HOA -$13
Property Management Fees -$99
CASH FLOW
-$57

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.

$239,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
Vacancy 9.54%
Length of Stay Years 2

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$8.0k

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$65,335

INVESTMENT

$65,335

Down Payment
$59,750
Rehab Estimate
$2,000
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,499

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5253$1,5904$1,635
$1,635
RENT COMPS ANALYSIS
  • 10618 Penelope Way Converse, TX 3
    • 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.97
    •  
  • 10314 Rosalina Loop Converse, TX 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2018
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 10231 Barbeque Bay Converse, TX 2
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 2016
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.93
    •  
  • 10403 Midsummer Meadow Converse, TX 4
    • 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
    •  
PROPERTY LISTING DETAILS
Jesus Bowery
1.210.367.0685
Gdp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1499025
Last Updated: 12/10/2020
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