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8822 Slumber St Converse, TX 78109

4 Beds 2 Baths 1,537 sqft Built 1974

INVESTimate

$119,500

List Price

$1,170

$1,053 - $1,287

Rent Est.

$124,973  ( +4.58%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $77.75
  • 8 Days on Market
  • MLS # : 1477907
  • Updated Date : 08/25/2020 at 19:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,537 sqft
  • Baths : 2 full
Listing Agent

Jackson Realty & Assoc., Llc

Listing Agent's Description

THIS HOUSE HAS GREAT POTENTIAL, RECENT ROOF SHINGLES AND GUTTERS,LARGE COVERED PATIO, STORM WINDOWS THROUGHOUT & SLIDING PATIO DOOR, WORK SHOP, WIDE PARKING PAD, SHED FOR STORAGE, EASY ACCESS TO MAIN HWY AND SHOPPING AREAS. ***YOU REALLY NEED TO SEE FOR YOURSELF *** COME TAKE A TOUR *** WE ARE WAITING ***

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
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
 

$107,550$131,450$119,500

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$441
Property Tax -$284
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
$231

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.

$119,500

PROJECTED PRICE

$1,170

PROJECTED RENT

0.98%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 4.58%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,418

INVESTMENT

$37,418

Down Payment
$29,875
Rehab Estimate
$5,750
Closing Costs
$1,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$441

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $29,875
Loan Amount $89,625
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$23,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,218

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,1753$1,2494$1,2755$1,350
$1,350
RENT COMPS ANALYSIS
  • 8822 Slumber St Converse, 1
    • 4 beds 2 baths ∙ 1,537 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,537 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.76
    •  
  • 8343 Longhorn Ridge Dr Converse, 2
    • 4 beds 2 baths ∙ 1,409 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,409 Sqft ∙ Built 1991
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.83
    •  
  • 6827 Cypress Mist Dr Converse, 3
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.74
    •  
  • 8318 Longhorn Ridge Dr Converse, 4
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1992
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 7315 Northallerton Converse, 5
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1994
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
PROPERTY LISTING DETAILS
Havward Jackson
1.210.273.2359
Jackson Realty & Assoc., Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1477907
Last Updated: 08/25/2020
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