Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6406 Highland Grass Converse, TX 78109

3 Beds 2 Baths 1,332 sqft Built 2001

$189,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $142.57
  • 4 Days on Market
  • MLS # : 1510877
  • Updated Date : 02/25/2021 at 22:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

Ouray 550 Llc

Listing Agent's Description

Beautifully remodeled home in Dover with designer finish out. Walk into an open floor plan with new wood laminate flooring throughout all the living areas. Open kitchen concept with new cabinets and granite with plenty of room for seating around the oversized breakfast bar. Fresh paint throughout with brand new bathrooms, lighting, and plush carpet in bedrooms. Nothing has been overlooked with this gorgeous home. New HVAC, fence, and a recent roof as well.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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).

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
Woodlake Hills Middle School Middle Regular 956 60 4
Judson High School High Regular 3,628 204 3

Elolf Elementary School

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

Woodlake Hills Middle School

  • Education Level: Middle
  • # of students: 956
  • # of teachers: 60
4
GreatSchools Rating

Judson High School

  • Education Level: High
  • # of students: 3,628
  • # of teachers: 204
3
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$660
Property Tax -$423
Property Insurance -$104
HOA -$21
Property Management Fees -$99
CASH FLOW
-$16

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.

$189,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.68%

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

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$3,029

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,282

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,2904$1,2955$1,349
$1,349
RENT COMPS ANALYSIS
  • 6406 Highland Grass Converse, TX 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.97
    •  
  • 6611 Flatstone Pass Converse, TX 1
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 2002
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.99
    •  
  • 9038 Twincreek Farm Converse, TX 2
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 2002
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
  • 6835 Flatstone Pass Converse, TX 4
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 2001
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.93
    •  
  • 8935 Gathering Pass Converse, TX 5
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 2003
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.97
    •  
PROPERTY LISTING DETAILS
Colby Hager
1.210.793.4448
Ouray 550 Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1510877
Last Updated: 02/25/2021
BESbswy