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9842 Shetland Pass Converse, TX 78109

3 Beds 2 Baths 2,004 sqft Built 2014

$239,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $119.71
  • 7 Days on Market
  • MLS # : 1494189
  • Updated Date : 11/10/2020 at 05:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full
Listing Agent

Ae Realty

Listing Agent's Description

Well maintained one story home in the established neighborhood of Cimarron Landing in Converse, lots of upgrades and improvements include granite counter tops, quality flooring, ceiling fans, an office/study, covered patio, backed up to a green belt. This home is convenient to shopping, dinning, entertainment, Randolph AFB, Hwy 1604, IH 35, and much more. Come take a look before it's gone!

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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$885
Property Tax -$534
Property Insurance -$143
HOA -$18
Property Management Fees -$99
CASH FLOW
-$48

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.

$239,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.68%

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6304$1,6505$1,850
$1,850
RENT COMPS ANALYSIS
  • 9842 Shetland Pass Converse, TX 3
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.81
    •  
  • 9030 Sahara Woods Universal City, TX 1
    • 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
    •  
  • 9607 Harbor Mist Ln Converse, TX 2
    • 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2017
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.78
    •  
  • 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
    •  
  • 9555 Bent Tree Holw Converse, TX 5
    • 4 beds 3 baths ∙ 2,083 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,083 Sqft ∙ Built 2016
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Carl Bishop
1.210.778.0789
Ae Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1494189
Last Updated: 11/10/2020
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