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2322 Cloudbait View Converse, TX 78109

4 Beds 3 Baths 2,122 sqft Built 2009

$185,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $87.18
  • 5 Days on Market
  • MLS # : 1509086
  • Updated Date : 02/13/2021 at 19:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,122 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Emerald

Listing Agent's Description

AVAILABLE NOW! This 4 bedroom 3 bath, 1 car garage features wood laminate and ceramic tile flooring, along with carpet upstairs and in all the bedrooms. It's located in the great Converse Area! Minutes from Ft Sam Houston and Randolph AFB. This home features a large eat in kitchen with marble top island. Covered patio overlooks large backyard with privacy fence, great for pets or large play area for kids. The spacious upstairs GAME ROOM is great for entertainment! Can be a great for movie nights or Home Office area. This home also comes pre-wired for a surveillance system and includes keyless code entry. Please verify school districts. Home wont last long! Schedule your showing today!

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
Masters Elementary School Primary Regular 757 45 6
Metzger Middle School Middle Regular 967 57 3
Wagner High School High Regular 2,274 138 3

Masters Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
6
GreatSchools Rating

Metzger Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 57
3
GreatSchools Rating

Wagner High School

  • Education Level: High
  • # of students: 2,274
  • # of teachers: 138
3
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$643
Property Tax -$420
Property Insurance -$150
HOA -$29
Property Management Fees -$99
CASH FLOW
$230

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$185,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.85%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$19,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,565

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5703$1,5754$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 2322 Cloudbait View Converse, TX 2
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.74
    •  
  • 6611 Port Elizabeth Converse, TX 1
    • 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2017
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.73
    •  
  • 2715 Point Sur Converse, TX 3
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.77
    •  
  • 2739 Moon Rock Converse, TX 4
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2007
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.74
    •  
  • 6503 San Miguel Way Converse, TX 5
    • 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 2011
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
PROPERTY LISTING DETAILS
Alejandra Pedraza
1.210.336.8850
Realty One Group Emerald
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1509086
Last Updated: 02/13/2021
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