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8119 Grimchester Converse, TX 78109

4 Beds 3 Baths 2,334 sqft Built 1993

$212,500

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $91.05
  • 2 Days on Market
  • MLS # : 1496383
  • Updated Date : 11/21/2020 at 22:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,334 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Premier Realty

Listing Agent's Description

BEAUTIFULLY MAINTAINED HOME NEAR RANDOLF AFB, SCHOOLS AND SHOPPING. GLEEMING HAND SCRAPED WOOD FLOORING IN MAIN LIVING AREA AND STAIRS. LARGE KITCHEN WITH PLENTY OF STORAGE AND LOTS OF COUNTER SPACE. MASSIVE MASTER BEDROOM WITH ENORMOUS WALK IN CLOSET. LARGE BACK YARD WITH PRIVACY FENCE. CLOSE TO THE COMMUNITY POOL AND PLAYGROUND.

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: 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
 

$191,250$233,750$212,500

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 -$784
Property Tax -$473
Property Insurance -$162
HOA -$23
Property Management Fees -$99
CASH FLOW
-$50

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.

$212,500

PROJECTED PRICE

$1,490

PROJECTED RENT

0.70%

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) 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-$4.0k-$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$62,063

INVESTMENT

$62,063

Down Payment
$53,125
Rehab Estimate
$5,750
Closing Costs
$3,188

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$784

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,125
Loan Amount $159,375
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$3,242

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
  • $0.64

    LIST RENT PER SQFT
  • $1,488

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4753$1,4904$1,5305$1,600
$1,600
RENT COMPS ANALYSIS
  • 8119 Grimchester Converse, TX 3
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.64
    •  
  • 8059 Cantura Mills Converse, TX 1
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1996
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.60
    •  
  • 7718 Rio Blanco Converse, TX 2
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1999
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.63
    •  
  • 8026 Robbins Glade San Antonio, TX 4
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 1996
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.66
    •  
  • 7427 Northallerton Converse, TX 5
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2000
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.66
    •  
PROPERTY LISTING DETAILS
Ray Blankenberg
1.210.422.3775
Texas Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1496383
Last Updated: 11/21/2020
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