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7922 Corona Ridge San Antonio, TX 78244

3 Beds 2 Baths 1,487 sqft Built 1986

$175,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $117.69
  • 4 Days on Market
  • MLS # : 1510906
  • Updated Date : 02/27/2021 at 00:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,487 sqft
  • Baths : 2 full
Listing Agent

Premier Realty Group

Listing Agent's Description

Multiple offers please submit by 5pm on Saturday (2/27). Don't miss the opportunity to own this spacious 3-bedroom one-story beauty! With a large lot, covered patio and open floor plan, this home is not only perfect for entertaining but made for comfort living. Enjoy cozy evenings by the fireplace and spread out through large rooms, dining room, kitchen and laundry area. The large yard is perfect for gardening, grilling and enjoying everything the San Antonio weather has to offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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).

PRICE & RENT TRENDS

Neighborhood: Ventura

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $86k205k

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

Neighborhood: Ventura

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27508008509009501000105011001150120012501300135014001450Rent in $7491472

* 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
Spring Meadows Elementary School Primary Regular 661 50 4
Woodlake Hills Middle School Middle Regular 956 60 4
Judson High School High Regular 3,628 204 3

Spring Meadows Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 50
4
GreatSchools Rating

Woodlake Hills Middle School

  • Education Level: Middle
  • # of students: 956
  • # of teachers: 60
4
GreatSchools Rating

Judson High School

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

$157,500$192,500$175,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$608
Property Tax -$391
Property Insurance -$113
HOA -$23
Property Management Fees -$99
CASH FLOW
$67

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.

$175,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$7,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,290

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2903$1,2954$1,3005$1,349
$1,349
RENT COMPS ANALYSIS
  • 7922 Corona Ridge San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 7230 Elm Trail Dr San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.82
    •  
  • 7927 Wayside Trail San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.88
    •  
  • 7935 Sonny Ridge San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1986
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.85
    •  
  • 7451 Longing Trail San Antonio, TX 5
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1986
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.92
    •  
PROPERTY LISTING DETAILS
Sandra Gonzalez
1.210.364.5850
Premier Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1510906
Last Updated: 02/27/2021
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