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9606 Discovery Rise Converse, TX 78109

3 Beds 3 Baths 2,418 sqft Built 2005

$220,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $90.98
  • 2 Days on Market
  • MLS # : 1501856
  • Updated Date : 01/02/2021 at 06:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,418 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Corridor

Listing Agent's Description

Beautiful 2 story home with 3 bedroom, 2.5 baths, 2 car garage in mature neighborhood. Large Family Room with fireplace, adjacent separate dining room. Open Kitchen area with breakfast nook, very spacious utility room/pantry. Huge Master Bedroom Suite with oversize walk-in closet, master bathroom with double vanity, separate shower, & garden tub. Large upstair game room/2nd living area. Close to Randolph Air Force Base, minutes from Ft. Sam Houston, IH-35 Forum Mall Shopping.

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
Copperfield Elementary School Primary Regular 650 42 NA
Judson Middle School Middle Regular 1,015 75 5
Judson High School High Regular 3,628 204 3

Copperfield Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 42
NA
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
 

$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 -$167
HOA -$21
Property Management Fees -$99
CASH FLOW
-$68

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

1.67

YEARS SAVED

$2,737

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
  • $0.63

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5503$1,5504$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 9606 Discovery Rise Converse, TX 1
    • 3 beds 3 baths ∙ 2,418 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,418 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.63
    •  
  • 9619 Justice Ln Converse, TX 2
    • 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 9806 Discovery Dr Converse, TX 3
    • 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 2007
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.66
    •  
  • 9526 Anderson Way Converse, TX 4
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2005
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.72
    •  
  • 9618 Krier Ct Converse, TX 5
    • 4 beds 4 baths ∙ 2,362 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,362 Sqft ∙ Built 2006
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
PROPERTY LISTING DETAILS
Marcus Jones
1.210.857.3593
Re/max Corridor
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1501856
Last Updated: 01/02/2021
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