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3507 Spanish King San Antonio, TX 78222

3 Beds 2 Baths 1,272 sqft Built 2011

$172,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $135.93
  • 4 Days on Market
  • MLS # : 1493343
  • Updated Date : 11/05/2020 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Casino Realty

Listing Agent's Description

Charming home. Very nice, clean and ready to move in. New ceiling fans, light fixtures, fresh paint. Large backyard This home offers 1,273 square feet in an open plan that offer 3 bedrooms and two baths. The highlights of the home include a large back yard, cul de sac street, covered patio, and his and her closets and the Master. Great starter home!! Won't last long !!

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: Lakeside

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k204k

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

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6621456

* 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
Sinclair Elementary School Primary Regular 618 38 2
Legacy Middle School Middle Regular 1,146 64 2
East Central High School High Regular 2,943 146 3

Sinclair Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 38
2
GreatSchools Rating

Legacy Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 64
2
GreatSchools Rating

East Central High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 146
3
GreatSchools Rating
 

$155,610$190,190$172,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$638
Property Tax -$432
Property Insurance -$101
HOA -$13
Property Management Fees -$99
CASH FLOW
$48

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.

$172,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 3.3%
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

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$51,569

INVESTMENT

$51,569

Down Payment
$43,225
Rehab Estimate
$5,750
Closing Costs
$2,594

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,225
Loan Amount $129,675
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$6,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,177

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3303$1,3504$1,3955$1,425
$1,425
RENT COMPS ANALYSIS
  • 3507 Spanish King San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.05
    •  
  • 6139 Lake Victoria St San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 4119 Salado Crest San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2018
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 3534 Horizon Lk San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2005
    property image
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 4607 Le Villas San Antonio, TX 5
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2015
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ernesto Ruiz
1.210.889.9999
Casino Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1493343
Last Updated: 11/05/2020
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