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716 Meadow Gate Converse, TX 78109

3 Beds 2 Baths 1,078 sqft Built 1984

$149,900

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $139.05
  • 3 Days on Market
  • MLS # : 1493784
  • Updated Date : 11/07/2020 at 02:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,078 sqft
  • Baths : 2 full
Listing Agent

Vortex Realty

Listing Agent's Description

Beautiful 3 bedroom home, excellent for investors. This home is located 10 minutes away from I-35 and N Loop 1604. Close to IKEA, Rolling Oaks Mall, and Olympia Pkwy. Every room has a walk-in closet including the converted garage room. The garage has been converted into a room which measures 17 X 17. The kitchen has been remodeled and has a granite countertop. "Home sold as is"

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
Miller's Point Elementary School Primary Regular 612 44 5
Kitty Hawk Middle School Middle Regular 1,298 83 6
Veterans Memorial High School High Regular NA

Miller's Point Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 44
5
GreatSchools Rating

Kitty Hawk Middle School

  • Education Level: Middle
  • # of students: 1,298
  • # of teachers: 83
6
GreatSchools Rating

Veterans Memorial High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$553
Property Tax -$334
Property Insurance -$89
Property Management Fees -$99
CASH FLOW
$115

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.

$149,900

PROJECTED PRICE

$1,190

PROJECTED RENT

0.79%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$13,535

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,075

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1903$1,1954$1,2005$1,250
$1,250
RENT COMPS ANALYSIS
  • 716 Meadow Gate Converse, TX 2
    • 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $1.10
    •  
  • 720 Meadow Burst Dr Converse, TX 1
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1986
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.99
    •  
  • 707 Meadow Gate Converse, TX 3
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1984
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.97
    •  
  • 806 Meadow Stone Converse, TX 4
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1986
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.04
    •  
  • 8422 Clear Meadows Converse, TX 5
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1981
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kassandra Trevino
1.210.818.3212
Vortex Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1493784
Last Updated: 11/07/2020
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