Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9002 Bowring Park Converse, TX 78109

3 Beds 2 Baths 1,721 sqft Built 2015

$243,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $141.20
  • 8 Days on Market
  • MLS # : 1504518
  • Updated Date : 01/17/2021 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,721 sqft
  • Baths : 2 full
Listing Agent

3d Realty & Property Mgmt.

Listing Agent's Description

Excellent Northeast location. Established community The Parc at Escondido. Large corner lot; home built in 2015 by Lennar. (3) bedrooms / (2) full baths plus (1) office or possible (4th) bedroom /2 car garage. Lots up updates granite countertops, all appliances convey - refrigerator, dishwasher, microwave and gas range. Large kitchen island for barstool seating. Utility room for washer /dryer inside. Dining room kitchen table space with large window and window seat. Master bedroom fits a king size bed, separate tub and shower, double vanity, large walk in closed in master. Secondary bedrooms with 1 full bath. Spacious living room open floor plan, ceramic tile throughout. Covered patio on large corner lot. Garage floor is coated paint for no staining from cars. Best community amenities include a swimming pool, basketball court, volleyball court, Large covered picnic area and much more. Don't Wait Make us an offer !

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: 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
John Glenn Elementary School Primary Regular 615 37 4
Heritage Middle School Middle Regular 1,150 64 2
East Central High School High Regular 2,943 146 3

John Glenn Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 37
4
GreatSchools Rating

Heritage Middle School

  • Education Level: Middle
  • # of students: 1,150
  • # of teachers: 64
2
GreatSchools Rating

East Central High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 146
3
GreatSchools Rating
 

$218,700$267,300$243,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$844
Property Tax -$541
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$130

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.

$243,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.61%

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$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,145

INVESTMENT

$70,145

Down Payment
$60,750
Rehab Estimate
$5,750
Closing Costs
$3,645

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$844

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,750
Loan Amount $182,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,6004$1,6855$1,800
$1,800
RENT COMPS ANALYSIS
  • 9002 Bowring Park Converse, TX 1
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.86
    •  
  • 9015 Blanco Park Converse, TX 2
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 4315 Battery Park Converse, TX 3
    • 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 2016
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 9028 Longhorn Park Converse, TX 4
    • 4 beds 2 baths ∙ 1,699 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,699 Sqft ∙ Built 2019
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.99
    •  
  • 8962 Palmetto Park Converse, TX 5
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2016
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Darlene Griego
1.210.274.2751
3d Realty & Property Mgmt.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1504518
Last Updated: 01/17/2021
BESbswy