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418 Renee Dr Converse, TX 78109

4 Beds 3 Baths 1,519 sqft Built 1980

$165,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $108.62
  • 3 Days on Market
  • MLS # : 1499354
  • Updated Date : 12/12/2020 at 03:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,519 sqft
  • Baths : 3 full
Listing Agent

Century 21 Northside

Listing Agent's Description

2 story home located in Converse, Texas within a short drive to Randolph Air Force Base, easy access to 1604, I-10 and FM 1516. Judson HS and Judson Middle School is located conveniently close to this property. More Photos to follow. For questions call Michael Ayson @ 917-325-1982. -- these are just initial photos and will be updated soon.

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
Converse Elementary School Primary Regular 673 41 3
Judson Middle School Middle Regular 1,015 75 5
Judson High School High Regular 3,628 204 3

Converse Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 41
3
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
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$609
Property Tax -$367
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$170

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.

$165,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.82%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$18,853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,276

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,1503$1,1754$1,3495$1,360
$1,360
RENT COMPS ANALYSIS
  • 418 Renee Dr Converse, TX 5
    • 4 beds 3 baths ∙ 1,519 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,519 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.90
    •  
  • 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
    •  
  • 314 Vivian Dr Converse, TX 2
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1974
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.83
    •  
  • 210 Royal Dr Converse, TX 3
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1973
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.84
    •  
  • 206 Royal Dr Converse, TX 4
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1972
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michael Ayson
1.917.325.1982
Century 21 Northside
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1499354
Last Updated: 12/12/2020
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