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8062 Coral Meadow Dr Converse, TX 78109

3 Beds 2 Baths 1,520 sqft Built 1995

$185,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $121.71
  • 4 Days on Market
  • MLS # : 1508140
  • Updated Date : 02/05/2021 at 04:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Welcome to 8062 Coral Meadow. The home features an open floor plan and a new Solar panel system. The roof and siding was recently replaced and will be ready to protect the home for may years to come. Beautiful wood like tile floor has been installed through out the home. The large yard and tile floor makes this home ideal for family dog and children to play. This home is eligible for USDA down payment assistance program.

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: Meadowbrook

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k204k

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

Neighborhood: Meadowbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6791456

* 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
Elolf Elementary School Primary Regular 705 45 5
Woodlake Hills Middle School Middle Regular 956 60 4
Judson High School High Regular 3,628 204 3

Elolf Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 45
5
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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$643
Property Tax -$412
Property Insurance -$115
HOA -$17
Property Management Fees -$99
CASH FLOW
$65

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$185,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.54%
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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$7,057

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,349

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3504$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 8062 Coral Meadow Dr Converse, TX 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 6427 Beech Trail Dr Converse, TX 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1994
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 6481 Beech Trail Dr Converse, TX 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1994
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 6306 Beech Trail Dr Converse, TX 4
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1994
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 8127 Ocean Meadow Dr Converse, TX 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1995
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
PROPERTY LISTING DETAILS
Andrew Blackmon
1.210.857.8275
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1508140
Last Updated: 02/05/2021
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