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2502 Steepleway San Antonio, TX 78248

4 Beds 3 Baths 2,625 sqft Built 1994

$290,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $110.48
  • 4 Days on Market
  • MLS # : 1492712
  • Updated Date : 11/05/2020 at 15:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,625 sqft
  • Baths : 3 full
Listing Agent

M. Stagers Realty Partners

Listing Agent's Description

Charming traditional style home with brick located on a corner lot in a very desirable neighborhood. Formal living features two story ceilings with large windows. Second living area boasts a beautiful fireplace with a show-stopping mantle and a wet bar! Inviting kitchen offers gas cooking, stainless steel appliances, eat-at island and a nice breakfast area. Secondary bedroom on first floor would be the perfect office for distance learning or home office. Large second floor Owners Suite has en suite bathroom with double vanities and seating area, separate soaking tub and shower and walk-in closet. Upstairs you will also find 2 sizable secondary bedrooms sharing a jack and jill bathroom and a third living area. This house is a must-see! House needs a new roof and a few cosmetic details. Priced accordingly.

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: North San Antonio

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $86k396k

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

Neighborhood: North San Antonio

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8452175

* 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
Huebner Elementary School Primary Regular 712 43 7
Eisenhower Middle School Middle Regular 1,162 68 5
Churchill High School High Regular 2,981 169 7

Huebner Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 43
7
GreatSchools Rating

Eisenhower Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 68
5
GreatSchools Rating

Churchill High School

  • Education Level: High
  • # of students: 2,981
  • # of teachers: 169
7
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,070
Property Tax -$715
Property Insurance -$178
HOA -$50
Property Management Fees -$99
CASH FLOW
$208

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.

$290,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.11%
Appreciation Year (1-5) 4.5%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,717

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4953$2,6954$2,7005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2502 Steepleway San Antonio, TX 1
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.88
    •  
  • 18202 Beargrass Ct San Antonio, TX 2
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1997
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.97
    •  
  • 16906 Hidden Oak Woods San Antonio, TX 3
    • 4 beds 4 baths ∙ 2,752 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,752 Sqft ∙ Built 1990
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.98
    •  
  • 17306 Fountain View Dr San Antonio, TX 4
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1995
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.04
    •  
  • 17223 Fawn Cloud Ln San Antonio, TX 5
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1992
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.15
    •  
PROPERTY LISTING DETAILS
Martha Aguilar
1.210.919.1009
M. Stagers Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1492712
Last Updated: 11/05/2020
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