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3406 Palmetto Pass San Antonio, TX 78245

3 Beds 3 Baths 1,971 sqft Built 2012

INVESTimate

$212,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$220,268  ( +3.90%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $107.56
  • 3 Days on Market
  • MLS # : 1478908
  • Updated Date : 08/25/2020 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,971 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vip Realty

Listing Agent's Description

Oversized corner lot. Open and spacious floor plan. Eat-in kitchen plus a separate dining room. Kitchen features granite countertops and 42" cabinets with crown molding. All bedrooms upstairs plus a game room. For added privacy, master is split from secondary bedrooms. Gas cooking and gas water heater for lower utility bills. Weather defences include radiant barrier, Low E windows, 13-15 SEER AX. Pre-wired for security for peace of mind and insurance discount. Acclaimed Home Warranty included.

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: West San Antonio

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $86k205k

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

Neighborhood: West San Antonio

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8451681

* 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
Fisher Elementary School Primary Regular 866 58 6
Rayburn Middle School Middle Regular 978 73 4
John Jay High School High Regular 2,929 182 3

Fisher Elementary School

  • Education Level: Primary
  • # of students: 866
  • # of teachers: 58
6
GreatSchools Rating

Rayburn Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 73
4
GreatSchools Rating

John Jay High School

  • Education Level: High
  • # of students: 2,929
  • # of teachers: 182
3
GreatSchools Rating
 

$190,800$233,200$212,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$782
Property Tax -$473
Property Insurance -$141
HOA -$20
Property Management Fees -$99
CASH FLOW
-$15

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.

$212,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 3.90%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,930

INVESTMENT

$61,930

Down Payment
$53,000
Rehab Estimate
$5,750
Closing Costs
$3,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,000
Loan Amount $159,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$4,983

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,5004$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3406 Palmetto Pass San Antonio, 4
    • 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 2506 Booker Basin San Antonio, 1
    • 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2005
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 9718 Acadian Dr San Antonio, 2
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2008
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 9934 Belmore Cove San Antonio, 3
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 2016
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 3534 York Crest San Antonio, 5
    • 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 2013
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Emma Burney
1.210.787.0988
Vip Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1478908
Last Updated: 08/25/2020
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