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523 Erica Converse, TX 78109

3 Beds 3 Baths 2,105 sqft Built 2008

$210,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $99.76
  • 3 Days on Market
  • MLS # : 1499362
  • Updated Date : 12/11/2020 at 23:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,105 sqft
  • Baths : 2 full , 1 half
Listing Agent

Laughy Hilger Group

Listing Agent's Description

WELCOME HOME!! New Roof, New Carpeting, New Interior Paint, updated appliances and more come with this spacious 3 bedroom, 2.5 bath home! You and the kids will love the extra space the gameroom provides as well as the large back yard. Relax on the covered front porch or covered back patio, either way you will love this home.

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$775
Property Tax -$467
Property Insurance -$149
HOA -$22
Property Management Fees -$99
CASH FLOW
$8

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.

$210,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.72%

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$600k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5004$1,5205$1,675
$1,675
RENT COMPS ANALYSIS
  • 523 Erica Converse, TX 4
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.72
    •  
  • 514 Candy Dr Converse, TX 1
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 514 Felicia Converse, TX 2
    • 3 beds 3 baths ∙ 2,172 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,172 Sqft ∙ Built 2006
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.69
    •  
  • 622 Diana Dr Converse, TX 3
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2009
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 510 Idamarie Converse, TX 5
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2008
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.74
    •  
PROPERTY LISTING DETAILS
Russell Deiley
1.210.275.0213
Laughy Hilger Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1499362
Last Updated: 12/11/2020
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