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510 Oak Dr Converse, TX 78109

3 Beds 2 Baths 1,419 sqft Built 1971

INVESTimate

$168,000

List Price

$1,110

$999 - $1,221

Rent Est.

$175,694  ( +4.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $118.39
  • 5 Days on Market
  • MLS # : 1478745
  • Updated Date : 08/23/2020 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,419 sqft
  • Baths : 2 full
Listing Agent

Bhhs Don Johnson, Realtors

Listing Agent's Description

UPDATED GORGEOUS ONE STORY HOME LOCATED IN AN ESTABLISHED QUAINT NEIGHBORHOOD OF CONVERSE, TEXAS. WONDERFUL SPACIOUS FLOOR PLAN INCLUDING THREE BEDROOMS, TWO FULL BATHS, TWO LIVING AREAS, SEPARATE DINING ROOM AND AN IMPRESSIVE KITCHEN. PLENTY OF NATURAL LIGHTING THROUGHOUT THE ENTIRE HOME. BEAUTIFUL LAMINATE FLOORS IN ALL BEDROOMS AND LIVING/DINING AREAS. STUNNING BRICK FIREPLACE IN FAMILY ROOM ENCOMPASSED W/ WOOD BEAM CEILING TREATMENT. THIS HOME IS SITUATED ON A CORNER LOT AND HAS A ONE CAR GARAGE ALONG W/ A CAR PORT. RECENTLY INSTALLED FRENCH DOORS AND LOVELY GRANITE IN KITCHEN,BATHROOM COUNTERTOPS. COME AND SEE TODAY!

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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
 

$151,200$184,800$168,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$620
Property Tax -$374
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$92

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.

$168,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 4.58%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,270

INVESTMENT

$50,270

Down Payment
$42,000
Rehab Estimate
$5,750
Closing Costs
$2,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,000
Loan Amount $126,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,135

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0003$1,1104$1,1755$1,250
$1,250
RENT COMPS ANALYSIS
  • 510 Oak Dr Converse, 3
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.78
    •  
  • 220 Michelle Dr Converse, 1
    • 4 beds 1 baths ∙ 1,255 Sqft ∙ Built 1968 4 beds 1 baths ∙ 1,255 Sqft ∙ Built 1968
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.79
    •  
  • 111 Ash Dr Converse, 2
    • 4 beds 2 baths ∙ 1,276 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,276 Sqft ∙ Built 1972
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.78
    •  
  • 210 Royal Dr Converse, 4
    • 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
    •  
  • 8019 Donshire Dr Converse, 5
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1991
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jason Gutierrez
1.210.897.6859
Bhhs Don Johnson, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1478745
Last Updated: 08/23/2020
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