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8602 Serene Ridge Dr San Antonio, TX 78239

3 Beds 2 Baths 1,149 sqft Built 1985

$164,999

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $143.60
  • 3 Days on Market
  • MLS # : 1493614
  • Updated Date : 11/06/2020 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,149 sqft
  • Baths : 2 full
Listing Agent

Key Realty

Listing Agent's Description

Well maintained 3 bedroom 2 bath home. New laminate flooring throughout bedrooms, updated master bath. Newer Roof, approx. 3yrs. This home lives very spaciously with the large open living and dining areas with fireplace. The master bedroom is roomy with a walk in closet that will not disappoint. Large spacious backyard, perfect for entertaining!

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: East San Antonio

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k204k

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

Neighborhood: East San Antonio

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
Miller's Point Elementary School Primary Regular 612 44 5
Judson Middle School Middle Regular 1,015 75 5
Judson High School High Regular 3,628 204 3

Miller's Point Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 44
5
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
 

$148,499$181,499$164,999

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$609
Property Tax -$368
Property Insurance -$93
Property Management Fees -$99
CASH FLOW
-$10

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.

$164,999

PROJECTED PRICE

$1,160

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,749
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$3,877

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,247

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2003$1,3004$1,3005$1,525
$1,525
RENT COMPS ANALYSIS
  • 8602 Serene Ridge Dr San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,149 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,149 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $1.01
    •  
  • 8102 Glen Lark San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 1977
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.13
    •  
  • 8466 Maple Ridge Dr San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1985
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.99
    •  
  • 8759 Ridge Moon Dr San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1984
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.03
    •  
  • 7806 Falcon Ridge Dr San Antonio, TX 5
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1985
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.19
    •  
PROPERTY LISTING DETAILS
Michael Vasquez
1.562.755.7049
Key Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1493614
Last Updated: 11/06/2020
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