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8950 Rich Trace St San Antonio, TX 78251

3 Beds 2 Baths 1,704 sqft Built 1982

$224,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $131.98
  • 2 Days on Market
  • MLS # : 1545090
  • Updated Date : 07/12/2021 at 17:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Very nice older home in quiet well kept neighborhood. Beautiful open floor plan with French doors that lead to backyard. Gorgeous granite countertops and double built in oven. All appliances stainless steel and include refrigerator. Huge utility room and pantry off kitchen with plenty of storage space. 3/2/2 split floor plan with spacious bedrooms. New carpet and paint throughout. Come see, won't last long.

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: West San Antonio

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $86k213k

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

Neighborhood: West San Antonio

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8451681

* 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
Evers Elementary School Primary Regular 1,002 58 6
Jordan Middle School Middle Regular 1,353 78 5
Warren High School High Regular 3,052 176 7

Evers Elementary School

  • Education Level: Primary
  • # of students: 1,002
  • # of teachers: 58
6
GreatSchools Rating

Jordan Middle School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 78
5
GreatSchools Rating

Warren High School

  • Education Level: High
  • # of students: 3,052
  • # of teachers: 176
7
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$781
Property Tax -$502
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$148

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.

$224,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 3.9%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$636

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2753$1,3604$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 8950 Rich Trace St San Antonio, TX 3
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.80
    •  
  • 8946 Rich Trace St San Antonio, TX 1
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1984
    property image
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.75
    •  
  • 8947 Rich Quail San Antonio, TX 2
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1983
    property image
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.80
    •  
  • 9010 Rich Quail San Antonio, TX 4
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1983
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 2311 Cherokee Hunt San Antonio, TX 5
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2001
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
Stephen Metarelis
1.210.405.1783
Offerpad
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1545090
Last Updated: 07/12/2021
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