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6214 Meandering Trail Converse, TX 78109

4 Beds 3 Baths 2,278 sqft Built 2003

$210,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $92.19
  • 5 Days on Market
  • MLS # : 1506383
  • Updated Date : 01/27/2021 at 20:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,278 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Converse two-story corner home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly. This home has been virtually staged to illustrate its potential! Thanks for viewing!

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: Meadowbrook

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k204k

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

Neighborhood: Meadowbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6791456

* 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
Elolf Elementary School Primary Regular 705 45 5
Judson Middle School Middle Regular 1,015 75 5
Wagner High School High Regular 2,274 138 3

Elolf Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 45
5
GreatSchools Rating

Judson Middle School

  • Education Level: Middle
  • # of students: 1,015
  • # of teachers: 75
5
GreatSchools Rating

Wagner High School

  • Education Level: High
  • # of students: 2,274
  • # of teachers: 138
3
GreatSchools Rating
 

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

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 -$729
Property Tax -$467
Property Insurance -$159
HOA -$21
Property Management Fees -$99
CASH FLOW
$5

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.54%
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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$3,878

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
  • $0.65

    LIST RENT PER SQFT
  • $1,486

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4753$1,4804$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 6214 Meandering Trail Converse, TX 3
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.65
    •  
  • 8703 Seneca Crk Converse, TX 1
    • 4 beds 2 baths ∙ 2,180 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,180 Sqft ∙ Built 1999
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.64
    •  
  • 8903 Gathering Pass Converse, TX 2
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2003
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.65
    •  
  • 8252 Longhorn Ridge Dr Converse, TX 4
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1991
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.63
    •  
  • 6828 Canary Meadow Dr Converse, TX 5
    • 5 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
PROPERTY LISTING DETAILS
Feras Rachid
1.214.378.3667
Opendoor Brokerage Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1506383
Last Updated: 01/27/2021
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