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602 Coral Harbor San Antonio, TX 78251

3 Beds 2 Baths 2,086 sqft Built 2004

$225,500

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $108.10
  • 5 Days on Market
  • MLS # : 1514634
  • Updated Date : 03/18/2021 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Heritage

Listing Agent's Description

Move in ready & beautifully updated home! All bedrooms upper level, with nice sized loft. Eat in kitchen + separate dining space. Recently painted, all floors recently replaced with beautiful laminate and tile. All light fixtures, chandeliers, and ceiling fans under 2 years old. All SS appliances convey. Roof is less than 2 years old. Front porch + covered patio! Sellers included the inspection and engineer inspection from their purchase in 2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Antonio metro economy is worth $130 billion in Gross Metro Product and projected to grow to $136 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sierra Springs

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $86k213k

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

Neighborhood: Sierra Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28008509009501000105011001150120012501300135014001450Rent in $7891472

* 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
Lewis Elementary School Primary Regular 794 51 6
Vale Middle School Middle Regular 1,349 78 5
Stevens High School High Regular 2,866 172 4

Lewis Elementary School

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 51
6
GreatSchools Rating

Vale Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 78
5
GreatSchools Rating

Stevens High School

  • Education Level: High
  • # of students: 2,866
  • # of teachers: 172
4
GreatSchools Rating
 

$202,950$248,050$225,500

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$783
Property Tax -$503
Property Insurance -$147
HOA -$18
Property Management Fees -$99
CASH FLOW
-$71

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.

$225,500

PROJECTED PRICE

$1,480

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 4.4%
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

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$65,508

INVESTMENT

$65,508

Down Payment
$56,375
Rehab Estimate
$5,750
Closing Costs
$3,383

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$783

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,375
Loan Amount $169,125
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,486

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4803$1,5004$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 602 Coral Harbor San Antonio, TX 2
    • 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.71
    •  
  • 523 Lynx Mtn San Antonio, TX 1
    • 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 2004
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.70
    •  
  • 10402 Cub Valley San Antonio, TX 3
    • 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2002
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 534 Diamond Falls San Antonio, TX 4
    • 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2003
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 602 Lynx Mtn San Antonio, TX 5
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2004
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
PROPERTY LISTING DETAILS
Heidi Zapata
1.210.725.3396
Keller Williams Heritage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1514634
Last Updated: 03/18/2021
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