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8114 Chestnut Blue Converse, TX 78109

3 Beds 2 Baths 1,651 sqft Built 2021

$248,500

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $150.51
  • 5 Days on Market
  • MLS # : 1503692
  • Updated Date : 01/13/2021 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Heritage

Listing Agent's Description

The Brown is a single-story, 1651 square foot, 3 bedroom, 2 bathroom, 2-car garage layout. Designed with you and your family in mind, this layout features a separate dining space that leads to an open kitchen. The large bedroom 1 suite is located off the family room and features a large walk-in closet. Features include tall 9-foot ceilings, Whirlpool Stainless Steel appliances, 2-inch faux wood blinds throughout the home, and pre-plumb for water softener loop. You'll enjoy added security in your new home with our Home is Connected features. Using one central hub that talks to all the devices in your home, you can control the lights, thermostat and locks, all from your cellular device. Relax outside on the large covered patio and enjoy full yard landscaping and full yard irrigation.

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: 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
 

$223,650$273,350$248,500

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$863
Property Tax -$553
Property Insurance -$122
HOA -$42
Property Management Fees -$99
CASH FLOW
-$189

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$248,500

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

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) 3.00%
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$67,853

INVESTMENT

$67,853

Down Payment
$62,125
Rehab Estimate
$2,000
Closing Costs
$3,728

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$863

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,125
Loan Amount $186,375
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,374

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2503$1,2954$1,4905$1,495
$1,495
RENT COMPS ANALYSIS
  • 8114 Chestnut Blue Converse, TX 4
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 8147 Steep Valley Converse, TX 1
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2003
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.82
    •  
  • 7403 Coers Blvd Converse, TX 2
    • 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 8815 Pensive Converse, TX 3
    • 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 2005
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
  • 8210 Steep Valley Converse, TX 5
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2004
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
R.j. Reyes
1.210.842.5458
Keller Williams Heritage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1503692
Last Updated: 01/13/2021
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