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506 W 5th St Converse, TX 78109

3 Beds 2 Baths 1,383 sqft Built 2015

$185,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $133.77
  • 4 Days on Market
  • MLS # : 1493546
  • Updated Date : 11/07/2020 at 12:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,383 sqft
  • Baths : 2 full
Listing Agent

Pyramis Companies

Listing Agent's Description

Cozy well maintained single story home. Tray ceilings in living area and master bedroom. Large window by the eat-in kitchen and breakfast bar brings plenty of natural lighting. All stainless steel appliances will remain. Covered patio and a spacious back yard. A must see!!

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
Miller's Point Elementary School Primary Regular 612 44 5
Judson Middle School Middle Regular 1,015 75 5
Judson High School High Regular 3,628 204 3

Miller's Point Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 44
5
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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$683
Property Tax -$412
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
$50

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.

$185,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.73%

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$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$8,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,3954$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 506 W 5th St Converse, TX 2
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 8502 Cheyenne Blf Converse, TX 1
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.95
    •  
  • 10 W 4th St Converse, TX 3
    • 4 beds 2 baths ∙ 1,429 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,429 Sqft ∙ Built 2007
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 8806 Appaloosa Pass Converse, TX 4
    • 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 2020
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 8911 Arabian King Converse, TX 5
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2011
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
PROPERTY LISTING DETAILS
Melissa Garcia
1.210.776.8606
Pyramis Companies
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1493546
Last Updated: 11/07/2020
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