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

7603 Bismarck Lk Converse, TX 78109

3 Beds 3 Baths 1,653 sqft Built 2005

$235,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $142.17
  • 2 Days on Market
  • MLS # : 1505721
  • Updated Date : 01/23/2021 at 21:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,653 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates, Realtors

Listing Agent's Description

******Schertz-Cibolo-Universal City ISD****** Welcome home to your future two story house on a large corner lot. As you walk in you're greeted by a huge updated kitchen large enough to entertain friends and family. All bedrooms are upstairs to include a recently updated Master Bathroom. If you're looking for a super cool updated house in a sought after school district then this is your future home!

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: 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
Barbara C. Jordan Intermediate School Primary Regular 648 40 6
Ray D. Corbett Junior High School Middle Regular 1,089 61 7
Samuel Clemens High School High Regular 2,450 130 8

Barbara C. Jordan Intermediate School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 40
6
GreatSchools Rating

Ray D. Corbett Junior High School

  • Education Level: Middle
  • # of students: 1,089
  • # of teachers: 61
7
GreatSchools Rating

Samuel Clemens High School

  • Education Level: High
  • # of students: 2,450
  • # of teachers: 130
8
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$816
Property Tax -$523
Property Insurance -$122
HOA -$18
Property Management Fees -$99
CASH FLOW
$111

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.

$235,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.72%

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$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$12,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,6004$1,6905$1,695
$1,695
RENT COMPS ANALYSIS
  • 7603 Bismarck Lk Converse, TX 4
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.02
    •  
  • 10351 Red Iron Crk Converse, TX 1
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 10415 Queensland Way Converse, TX 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2014
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 7635 Cold Mtn Converse, TX 3
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2013
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 9822 Red Iron Creek Converse, TX 5
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2016
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.04
    •  
PROPERTY LISTING DETAILS
Holly Chandler
1.210.777.5392
Jp & Associates, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1505721
Last Updated: 01/23/2021
BESbswy