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8506 Apache Bend Converse, TX 78109

3 Beds 2 Baths 1,725 sqft Built 2011

$207,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $120.00
  • 3 Days on Market
  • MLS # : 1505076
  • Updated Date : 01/23/2021 at 21:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,725 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

**OPEN HOUSE 1/23 Sat. and 1/24 Sun. From 1pm-4pm*** Schedule your showing today to see this darling 3 bedroom 2 bathroom home. This open concept home has high ceilings, two living spaces and tile flooring. The kitchen is the focal point to this home with gorgeous granite and a one of kind peninsula. The primary bedroom is spacious with an en suite and walk in closet that will blow your mind. Located in the subdivision of Rolling Creek in the heart of Converse. Close to Randolph AFB, NLC Alamo College and has easy access to 1604 and I-35. Don't miss out on this gorgeous home.

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: Converse

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k205k

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

Neighborhood: Converse

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
Salinas Elementary School Primary Regular 624 40 6
Kitty Hawk Middle School Middle Regular 1,298 83 6
Veterans Memorial High School High Regular NA

Salinas Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 40
6
GreatSchools Rating

Kitty Hawk Middle School

  • Education Level: Middle
  • # of students: 1,298
  • # of teachers: 83
6
GreatSchools Rating

Veterans Memorial High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$186,300$227,700$207,000

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 -$719
Property Tax -$461
Property Insurance -$127
HOA -$10
Property Management Fees -$99
CASH FLOW
$75

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.

$207,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 4.6%
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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,605

INVESTMENT

$60,605

Down Payment
$51,750
Rehab Estimate
$5,750
Closing Costs
$3,105

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,750
Loan Amount $155,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$9,078

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
  • $0.86

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4903$1,5004$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 8506 Apache Bend Converse, TX 2
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.86
    •  
  • 8505 Cheyenne Bluff Converse, TX 1
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2004
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 8806 Appaloosa Pass Converse, TX 3
    • 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 2020
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 8611 Lantana Spgs Converse, TX 4
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2013
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 8803 Appaloosa Pass Converse, TX 5
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 2013
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
PROPERTY LISTING DETAILS
Wendy Ball
1.210.376.1800
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1505076
Last Updated: 01/23/2021
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