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308 Kingsman St Converse, TX 78109

4 Beds 2 Baths 1,624 sqft Built 1974

$169,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $104.62
  • 3 Days on Market
  • MLS # : 1495021
  • Updated Date : 11/13/2020 at 20:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,624 sqft
  • Baths : 2 full
Listing Agent

Keller Williams City-view

Listing Agent's Description

Great location, and tons of character! This 4 bedroom 2 bath 2 car garage home is minutes from Randolph Air Force Base and Fort Sam. The home features a nice open living space just off the kitchen, master bedroom downstairs, large covered back patio, and a huge backyard. The two sheds in the backyard provide plenty of extra storage. The larger shed is equipped with electricity!

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: Converse

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k205k

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

Neighborhood: Converse

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28008509009501000105011001150120012501300135014001450Rent in $7991472

* 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
Copperfield Elementary School Primary Regular 650 42 NA
Judson Middle School Middle Regular 1,015 75 5
Judson High School High Regular 3,628 204 3

Copperfield Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 42
NA
GreatSchools Rating

Judson Middle School

  • Education Level: Middle
  • # of students: 1,015
  • # of teachers: 75
5
GreatSchools Rating

Judson High School

  • Education Level: High
  • # of students: 3,628
  • # of teachers: 204
3
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$627
Property Tax -$378
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$75

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.

$169,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$10,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,344

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,3003$1,3504$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 308 Kingsman St Converse, TX 2
    • 4 beds 2 baths ∙ 1,624 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,624 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 302 Gateway St Converse, TX 1
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1980
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.75
    •  
  • 7315 Northallerton Converse, TX 3
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1994
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 7519 Autumn Ledge Converse, TX 4
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1994
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 8811 Shadow Wood Ln Converse, TX 5
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1994
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Zachariah Castillo
1.210.817.1700
Keller Williams City-view
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1495021
Last Updated: 11/13/2020
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