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7703 Plainsman Converse, TX 78109

3 Beds 3 Baths 2,114 sqft Built 1993

$240,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $113.53
  • 4 Days on Market
  • MLS # : 1514915
  • Updated Date : 03/19/2021 at 04:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,114 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vortex Realty

Listing Agent's Description

Beautiful 2 Story home (NO HOA'S) with 3 bedrooms, 2 1/2 bathrooms and Game room. First floor has 2 living areas with a Kitchen, Breakfast Nook and Family room over looking the back yard with a covered porch and a Gazebo for your Entertainment. All Appliances stay in this house to Include, Washer, Dryer, Refrigerator and Microwave. This house is clean and move in READY for the next Family to enjoy. Convenient to all expressways. Near BAMC. Methodist Hospital, Ikea, HEB, Lowe's, Northeast Lakeview College. Bring your Clients to see this Beautiful house, It Won't last long. Judson ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Antonio metro economy is worth $130 billion in Gross Metro Product and projected to grow to $136 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cimarron

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $86k205k

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

Neighborhood: Cimarron

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
Crestview Elementary School Primary Regular 568 40 10
Kitty Hawk Middle School Middle Regular 1,298 83 6
Veterans Memorial High School High Regular NA

Crestview Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 40
10
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$834
Property Tax -$534
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
-$176

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.

$240,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 7.0%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$398

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 7703 Plainsman Converse, TX 2
    • 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.68
    •  
  • 10607 Coyote Hill Converse, TX 1
    • 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 1993
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 10315 Mustang Ridge Converse, TX 3
    • 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1996
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 11005 Crystal Plain San Antonio, TX 4
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2006
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 7727 Plainsman Converse, TX 5
    • 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1993
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
PROPERTY LISTING DETAILS
Angie Miller
1.210.845.0142
Vortex Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1514915
Last Updated: 03/19/2021
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