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7818 Lark Ridge San Antonio, TX 78250

3 Beds 2 Baths 1,654 sqft Built 1979

$220,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $133.01
  • 3 Days on Market
  • MLS # : 1509719
  • Updated Date : 02/13/2021 at 23:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates, Realtors

Listing Agent's Description

THIS BEAUTIFUL BRICK HOME COMES WITH ALL THE UPGRADES. Every surface has been touched. Great One story with open floorplan, 4 sides brick. Huge living area, two dining areas, high ceilings, brick fireplace, and upgraded flooring throughout the home. Kitchen has granite counter-tops and stainless steel appliances and farm sink. Second bath is tiled walk in shower. 28x19 patio out back, closed dog kennel area, and much more to see!!!

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: Misty Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $84k205k

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

Neighborhood: Misty Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28008509009501000105011001150120012501300135014001450Rent in $7651472

* 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
Elrod Elementary School Primary Regular 558 36 7
Connally Middle School Middle Regular 1,049 63 5
Warren High School High Regular 3,052 176 7

Elrod Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 36
7
GreatSchools Rating

Connally Middle School

  • Education Level: Middle
  • # of students: 1,049
  • # of teachers: 63
5
GreatSchools Rating

Warren High School

  • Education Level: High
  • # of students: 3,052
  • # of teachers: 176
7
GreatSchools Rating
 

$198,000$242,000$220,000

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 -$764
Property Tax -$491
Property Insurance -$123
HOA -$17
Property Management Fees -$99
CASH FLOW
-$54

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.

$220,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 7.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$2,659

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
  • $0.87

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3253$1,3304$1,4405$1,500
$1,500
RENT COMPS ANALYSIS
  • 7818 Lark Ridge San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.87
    •  
  • 8501 Timber Crest St San Antonio, TX 1
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1977
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 5007 Hawk Nest St San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1978
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.86
    •  
  • 4523 Everstone Crk San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1999
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.88
    •  
  • 5122 Tree Top St San Antonio, TX 5
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1984
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Rachael Wilkinson
1.210.833.9521
Jp & Associates, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1509719
Last Updated: 02/13/2021
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