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8326 Norcrest Dr Converse, TX 78109

3 Beds 3 Baths 2,576 sqft Built 2000

$219,950

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $85.38
  • 1 Days on Market
  • MLS # : 1504489
  • Updated Date : 01/17/2021 at 06:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,576 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alamo Realty

Listing Agent's Description

COME VISIT YOUR DREAM HOME TODAY! ENJOY THIS GORGEOUS TWO STORY HOME WITH AN ENORMOUS MASTER BEDROOM, SEPARATE HIS & HERS VANITIES, SEPARATE GARDEN TUB AND STAND UP SHOWER, SEPARATE HIS & HERS WALK-IN CLOSETS. LARGE BEDROOMS WITH WALK-IN CLOSETS, GAME ROOM, SEPARATE LIVING ROOMS, SEPARATE DINING AND BREAKFAST. YOU'LL LOVE COOKING ON YOUR NEW STOVE, MATCHING NEW DISHWASHER, WITH LOTS OF GRANITE COUNTER SPACE AND A MASSIVE ISLAND IN GRANITE TOO! HAS AN OPEN KITCHEN, GREAT FOR ENTERTAINING, SEPARATE BREAKFAST ROOM WITH AN OVERSIZED WALK-IN PANTRY. COMMERCIAL GRADE WATER HEATER WITH AN EXPANSION TANK, PRE-PLUMBING FOR A WATER SOFTENER AND NEW EPOXY FLOOR IN GARAGE. RELAX IN A SPACIOUS BACKYARD WITH LOTS OF TREES THAT PROVIDE GREAT SHADE AND YOU'LL BE READY FOR FUN TEXAS BARBEQUES. EASY ACCESS TO SHOPPING, RESTAURANTS, RANDOLPH AFB, FT SAM ARMY BASE, AND MAJOR HIGHWAYS NEARBY. OH, THERE'S ALSO A COMMUNITY POOL AND PLAYGROUND FOR YOU TO SOAK UP THE SUN AND ENJOY THE OUTDOORS. HURRY, BEFORE IT'S TOO LATE.

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
 

$197,955$241,945$219,950

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 -$764
Property Tax -$489
Property Insurance -$176
HOA -$23
Property Management Fees -$99
CASH FLOW
-$61

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.

$219,950

PROJECTED PRICE

$1,490

PROJECTED RENT

0.68%

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

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$64,037

INVESTMENT

$64,037

Down Payment
$54,988
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% 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 $54,988
Loan Amount $164,963
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,103

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
  • $0.58

    LIST RENT PER SQFT
  • $1,565

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4903$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 8326 Norcrest Dr Converse, TX 2
    • 3 beds 3 baths ∙ 2,576 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,576 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.58
    •  
  • 7318 Caddington Dr Converse, TX 1
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2001
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.58
    •  
  • 8230 Grimchester Converse, TX 3
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1993
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.60
    •  
  • 8039 Brisbane Converse, TX 4
    • 4 beds 3 baths ∙ 2,683 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,683 Sqft ∙ Built 1992
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.59
    •  
  • 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
Jesus Meave
1.210.396.1763
Re/max Alamo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1504489
Last Updated: 01/17/2021
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