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218 Nueces Spring San Antonio, TX 78258

3 Beds 2 Baths 2,000 sqft Built 2002

$267,500

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $133.75
  • 2 Days on Market
  • MLS # : 1505701
  • Updated Date : 01/23/2021 at 18:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Key Realty

Listing Agent's Description

This beautiful one-story home is located in the Remington Heights subdivision deep in the heart of Stone Oak. The soaring ceilings allow for an open flow from the office, through the living room and into the kitchen. The living room boasts a cozy fireplace perfect for wintry nights. The master bedroom has an updated bathroom and an oversized closet. The two secondary bedrooms share a great size second bathroom. The backyard is perfect for entertaining and the yard requires very little maintenance. Do not miss out on this one! It is a true gem.

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: Stone Oak

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $86k366k

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

Neighborhood: Stone Oak

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8452371

* 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
Wilderness Oak Elementary School Primary Regular 719 45 10
Lopez Middle School Middle Regular 1,268 72 10
Reagan High School High Regular 3,096 158 9

Wilderness Oak Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 45
10
GreatSchools Rating

Lopez Middle School

  • Education Level: Middle
  • # of students: 1,268
  • # of teachers: 72
10
GreatSchools Rating

Reagan High School

  • Education Level: High
  • # of students: 3,096
  • # of teachers: 158
9
GreatSchools Rating
 

$240,750$294,250$267,500

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$929
Property Tax -$597
Property Insurance -$142
HOA -$58
Property Management Fees -$99
CASH FLOW
$74

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.

$267,500

PROJECTED PRICE

$1,900

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.11%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 9.32%
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$10k$12k

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$76,638

INVESTMENT

$76,638

Down Payment
$66,875
Rehab Estimate
$5,750
Closing Costs
$4,013

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$929

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,875
Loan Amount $200,625
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,047

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8703$1,9004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 218 Nueces Spring San Antonio, TX 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 22815 Tornillo Dr San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2001
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 22607 Madison Park San Antonio, TX 2
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 1999
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.93
    •  
  • 22343 Chimayo Bend San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2005
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 864 Amberstone Dr San Antonio, TX 5
    • 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 1987
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.04
    •  
PROPERTY LISTING DETAILS
Casey Solari
1.210.273.4339
Key Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1505701
Last Updated: 01/23/2021
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