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6823 Eden Grove Dr Converse, TX 78109

3 Beds 2 Baths 1,729 sqft Built 1989

$179,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $104.05
  • 2 Days on Market
  • MLS # : 1508538
  • Updated Date : 02/07/2021 at 00:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,729 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Heritage

Listing Agent's Description

Location, Location, Location. This charming 1 story 3 Bedroom 2 Bath is perfect for a military family or starter home for someone looking for great schools. The Large and open living areas are perfect for those who love to entertain. Close to I35 and minutes away from Walmart, Brook Army Medical Center, and Downtown San Antonio. Really it's close to all your heart desires! Great Community Atmosphere with lots of amenities including Playground & Swimming Pool. Come experience the lifestyle you deserve!

SEE MORE

MARKET HIGHLIGHTS

  • 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).
  • 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)

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
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$625
Property Tax -$400
Property Insurance -$127
HOA -$17
Property Management Fees -$99
CASH FLOW
$62

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.

$179,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.74%

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-$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$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$6,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,336

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2753$1,3254$1,3305$1,400
$1,400
RENT COMPS ANALYSIS
  • 6823 Eden Grove Dr Converse, TX 4
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.77
    •  
  • 6827 Cypress Mist Dr Converse, TX 1
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.74
    •  
  • 8318 Longhorn Ridge Dr Converse, TX 2
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 8290 Morning Grove Converse, TX 3
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1995
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.78
    •  
  • 8329 Morning Grv Converse, TX 5
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1995
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Sergio Martinez
1.210.617.0680
Keller Williams Heritage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1508538
Last Updated: 02/07/2021
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