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2826 Salt Pt Converse, TX 78109

3 Beds 2 Baths 1,579 sqft Built 2008

$210,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $133.00
  • 3 Days on Market
  • MLS # : 1516263
  • Updated Date : 03/26/2021 at 22:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,579 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Fresh and bright 1 story home in Miller Ranch ready for new owners! Open and bright with fresh paint, spacious living room, large eat-in kitchen with tons of storage, stainless steel stove and dishwasher, primary bedroom split from secondary bedrooms for a bit of privacy. New roof. Large backyard perfect for outdoor activities, clean and ready for move-in!!! Schedule your tour now!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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).

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$729
Property Tax -$467
Property Insurance -$118
HOA -$32
Property Management Fees -$99
CASH FLOW
-$26

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.

$210,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.68%

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-$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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$2,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,4204$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 2826 Salt Pt Converse, TX 3
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.90
    •  
  • 6250 Post Mill San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2008
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.91
    •  
  • 6247 Post Mill San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2008
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 3103 Saturn Path San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2019
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 7215 Marina Del Ray Converse, TX 5
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2016
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ashley James
1.210.602.3652
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1516263
Last Updated: 03/26/2021
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