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8910 Appaloosa Pass Converse, TX 78109

3 Beds 2 Baths 1,826 sqft Built 2006

$220,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $120.48
  • 4 Days on Market
  • MLS # : 1500993
  • Updated Date : 12/24/2020 at 06:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,826 sqft
  • Baths : 2 full
Listing Agent

Re/max North-san Antonio

Listing Agent's Description

Magnificent and well maintained 1-story home! Inside you will find new ceramic tile flooring, an open floor plan, large living room with wood burning fireplace, separate dining room, kitchen complete with new sink and faucet, walk-in pantry plus a breakfast nook and a separate utility room. Home also boasts cozy secondary bedrooms, fresh paint inside and out, a large master suite with a walk-in closet, master bath has double vanity plus a separate garden tub/shower. Walk out onto the covered patio to shade you from the Texas sun. There is also an extended slab great for whatever you would like to do. Convenient to Randolph AFB, 1604, Alamo Community College and the Forum Shopping Center. Don't miss your opportunity to see this beautiful home today!

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: 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$812
Property Tax -$490
Property Insurance -$132
HOA -$18
Property Management Fees -$99
CASH FLOW
-$30

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.

$220,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.69%

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-$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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5953$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 8910 Appaloosa Pass Converse, TX 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.83
    •  
  • 8611 Lantana Spgs Converse, TX 2
    • 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
    •  
  • 9030 Sahara Woods Universal City, TX 3
    • 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 2003
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 8815 Arabian King Converse, TX 4
    • 3 beds 3 baths ∙ 1,965 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,965 Sqft ∙ Built 2014
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 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
Roland Cornejo
1.210.643.6954
Re/max North-san Antonio
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1500993
Last Updated: 12/24/2020
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