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9819 Balanced Rock Converse, TX 78109

3 Beds 2 Baths 1,244 sqft Built 1982

INVESTimate

$188,500

List Price

$1,170

$1,053 - $1,287

Rent Est.

$201,714  ( +7.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $151.53
  • 4 Days on Market
  • MLS # : 1478834
  • Updated Date : 08/23/2020 at 14:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,244 sqft
  • Baths : 2 full
Listing Agent

Vortex Realty

Listing Agent's Description

Newly remodeled 3/2 home. Updates include all new kitchen with Quartz countertops and new tile floor, new pantry w/pot hanger, newly textured and painted, new hardwood floors, new carpet in bedrooms, completely remodeled master and secondary bath with new tile floors, cabinets and faucets. New lighting, blinds, and closet doors. 2018 HVAC, hot water heater. New French doors to a wonderful sunroom leading to a covered patio. New garage door. Option to have security system for just an extra $50.

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: Cimarron

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $86k205k

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

Neighborhood: Cimarron

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
Crestview Elementary School Primary Regular 568 40 10
Kitty Hawk Middle School Middle Regular 1,298 83 6
Veterans Memorial High School High Regular NA

Crestview Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 40
10
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
 

$169,650$207,350$188,500

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$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$695
Property Tax -$419
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
-$143

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.

$188,500

PROJECTED PRICE

$1,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 7.01%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,703

INVESTMENT

$55,703

Down Payment
$47,125
Rehab Estimate
$5,750
Closing Costs
$2,828

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,125
Loan Amount $141,375
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$608

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
  • $0.94

    LIST RENT PER SQFT
  • $1,172

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,1953$1,2004$1,2455$1,295
$1,295
RENT COMPS ANALYSIS
  • 9819 Balanced Rock Converse, 1
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.94
    •  
  • 707 Meadow Gate Converse, 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1984
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.97
    •  
  • 8046 Pioneer Oak Converse, 3
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1982
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 823 Meadow Stone Converse, 4
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1994
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.97
    •  
  • 9830 Wagon Train San Antonio, 5
    • 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 1986
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.95
    •  
PROPERTY LISTING DETAILS
William Pabon
1.210.240.9027
Vortex Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1478834
Last Updated: 08/23/2020
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