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3023 Colony Dr San Antonio, TX 78230

3 Beds 2 Baths 1,703 sqft Built 1971

$276,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $162.60
  • 3 Days on Market
  • MLS # : 1507022
  • Updated Date : 01/29/2021 at 23:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,703 sqft
  • Baths : 2 full
Listing Agent

Levi Rodgers Real Estate Group

Listing Agent's Description

This beautifully maintained single story home is move-in ready and nestled in a wooded lot that provides plenty of mature trees. The open floor plan offers high vaulted beamed ceilings and a stunning brick floor to ceiling fireplace in the main living area. The kitchen is nicely appointed with updated cabinetry, tiled countertops, and a built-in oven and microwave. The large primary bedroom features a generous walk-in closet and a full bath. Step outside to the tree-studded back patio that overlooks the large private yard, perfect for entertaining family and friends. Great location! Minutes away from Medical Center, USAA and UTSA!

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: Vance Jackson

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $86k257k

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

Neighborhood: Vance Jackson

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8451698

* 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
Colonies North Elementary School Primary Regular 741 52 3
Hobby Middle School Middle Regular 1,004 63 5
Clark High School High Regular 2,815 160 8

Colonies North Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 52
3
GreatSchools Rating

Hobby Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 63
5
GreatSchools Rating

Clark High School

  • Education Level: High
  • # of students: 2,815
  • # of teachers: 160
8
GreatSchools Rating
 

$249,210$304,590$276,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$962
Property Tax -$618
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$164

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.

$276,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,129

INVESTMENT

$79,129

Down Payment
$69,225
Rehab Estimate
$5,750
Closing Costs
$4,154

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,225
Loan Amount $207,675
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6203$1,6404$1,6755$1,800
$1,800
RENT COMPS ANALYSIS
  • 3023 Colony Dr San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.96
    •  
  • 3407 Colony Dr San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1965
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.89
    •  
  • 3131 Nantucket Dr San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1973
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.92
    •  
  • 3207 Oneida Dr San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1966
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.07
    •  
  • 2803 Windy Oaks St San Antonio, TX 5
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1970
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Levi Rodgers
1.210.784.6585
Levi Rodgers Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1507022
Last Updated: 01/29/2021
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