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7608 Lonecrest Ln Converse, TX 78109

4 Beds 3 Baths 2,334 sqft Built 2000

$179,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $76.69
  • 3 Days on Market
  • MLS # : 1497121
  • Updated Date : 11/27/2020 at 22:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,334 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simmonds Real Estate Inc.

Listing Agent's Description

This home has great potential! If you are looking for a project that needs cosmetic work, this is the home! The living room and dining room combo are a great space for the family. Great counter top and cabinet space in the kitchen. All four bedrooms have walk in closets. The master bedroom and master closet are huge! The home is just a short drive from Randolph AFB, Ft. Sam Houston, Shopping at the Forum and IKEA, and convenient to I-10, Loop 1604, and I-35.

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: Northhampton

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $90k205k

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

Neighborhood: Northhampton

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
Converse Elementary School Primary Regular 673 41 3
Judson Middle School Middle Regular 1,015 75 5
Judson High School High Regular 3,628 204 3

Converse Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 41
3
GreatSchools Rating

Judson Middle School

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

Judson High School

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

$161,100$196,900$179,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$660
Property Tax -$398
Property Insurance -$162
HOA -$23
Property Management Fees -$99
CASH FLOW
$108

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.

$179,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4504$1,4755$1,600
$1,600
RENT COMPS ANALYSIS
  • 7608 Lonecrest Ln Converse, TX 3
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.62
    •  
  • 7318 Caddington Dr Converse, TX 1
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2001
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.58
    •  
  • 8059 Cantura Mills Converse, TX 2
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1996
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.60
    •  
  • 7718 Rio Blanco Converse, TX 4
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1999
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.63
    •  
  • 7427 Northallerton Converse, TX 5
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2000
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.66
    •  
PROPERTY LISTING DETAILS
Alfred Alvarez
1.210.284.8147
Simmonds Real Estate Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1497121
Last Updated: 11/27/2020
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