14624 Greenfield Mill San Antonio, TX 78254
$257,999 | 3 Bedrooms | 2 Bathrooms | 5.2% Cap Rate
I'm Interested in this Property
Listing Description
Listing: Awning - Redfin - Zillow
Welcome to your dream investment property! This stunning single-story home located at 14624 Greenfield Mill, San Antonio is a gem that you don't want to miss. With 3 bedrooms, 2 bathrooms, and a spacious living area, this move-in-ready property is perfect for families or professionals seeking a comfortable and stylish living space. The open kitchen features a modern design and a convenient island, making it perfect for entertaining guests. The owner's suite boasts a full bathroom and a walk-in closet, offering the ultimate in privacy and luxury.
But that's not all! The property is located in a highly desirable neighborhood with an overall grade of A-. The public schools in the area have also received a B+ grade, making it an ideal location for families with school-aged children. You'll enjoy the peace of mind knowing that this home is located in a flood zone that does not require flood insurance. Additionally, the renovation cost estimate is only $1,500, making it a low-maintenance investment.
Investing in this property is a smart financial move, with a projected 10-year return of 17.1% per year. With a cap rate of 5.2% and an estimated monthly rent of $2,195, you'll be enjoying positive cash flow from day one. And with an experienced real estate expert like Humberto Marquez on hand to answer any questions, you can be confident that you're making the right choice.
Don't miss your chance to invest in this fantastic property! Contact us today to schedule a viewing and take the first step towards your profitable and hassle-free investment.
Investment Financials
How much does the home cost?
$257,999
How much will it earn in rent?
$2,195 per month
How much will it cost to renovate?
According to the listing agent, the home is move-in ready and requires no renovations. An estimate of $1,500 has been set aside for small touch-ups if needed.
How much cash can you take home in the first year?
According to the Awning Analysis provided in the listing information, the estimated cash flow for the first year of owning this property would be negative $697. This means that after taking into account operating income and expenses, there would be a net loss of $697 for the year. However, this analysis does not take into account any financing costs, such as mortgage payments or property taxes, so the actual cash flow may vary depending on the specifics of your financing arrangements.
What is the cap rate for this property?
The estimated cap rate for this property is 5.2%.
All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.
Why People Rent In San Antonio, Texas
Where is San Antonio, Texas?
San Antonio is a city located in the south-central region of the state of Texas in the United States. It is located approximately 80 miles southwest of Austin, the state capital, and approximately 190 miles west of Houston. The city is situated in Bexar County and is located near the Texas Hill Country. San Antonio is the seventh-largest city in the United States and the second-largest city in Texas, with a population of approximately 1.5 million people in the metropolitan area as of 2021.
What companies are the major employers in and around San Antonio, Texas?
- USAA: a financial services company that employs more than 20,000 people in San Antonio.
- H-E-B: a grocery store chain that employs over 10,000 people in the San Antonio area.
- Valero Energy: an oil and gas company that employs over 6,000 people in San Antonio.
- University Health System: a healthcare organization that employs over 6,000 people in the San Antonio area.
- CPS Energy: a public utility company that employs over 3,000 people in San Antonio.
- Methodist Healthcare System: a healthcare organization that employs over 7,000 people in the San Antonio area.
- Frost Bank: a financial services company that employs over 4,000 people in San Antonio.
- Rackspace Technology: a cloud computing company that employs over 4,000 people in the San Antonio area.
- Southwest Research Institute: a research organization that employs over 2,500 people in San Antonio.
- NuStar Energy: an energy company that employs over 1,000 people in San Antonio.
What are the demographics of San Antonio, Texas?
According to the United States Census Bureau's QuickFacts, as of July 1, 2022, San Antonio city in Texas had a population of approximately 1.4 million people. The same source reports that the city's racial composition is 29.2% White alone, 64.8% Hispanic or Latino, 6.1% Black or African American alone, 2.7% Asian alone, and 0.3% American Indian and Alaska Native alone. In addition, 3.4% of the population identify as two or more races. The median age of San Antonio's residents is 34.9 years, and the gender breakdown is roughly 50.2% female and 49.8% male.
It's worth noting that San Antonio is located in Bexar County, Texas, and is the county seat. According to the same QuickFacts source, as of July 1, 2022, Bexar County had a population of approximately 2.0 million people, with a racial composition of 26.5% White alone, 63.8% Hispanic or Latino, 7.1% Black or African American alone, 2.7% Asian alone, and 0.3% American Indian and Alaska Native alone. The median age of Bexar County's residents is 35.4 years, and the gender breakdown is roughly 50.6% female and 49.4% male.
What is the Niche neighborhood grade and school grade in San Antonio, Texas?
According to Niche, a website that provides rankings and reviews for neighborhoods, cities, and schools, the overall Niche grade for Monte Vista, a neighborhood in San Antonio, Texas, is a C. The population of Monte Vista is 2,227, and it is described as a well-cared-for neighborhood with historical significance, as it is home to the oldest road in San Antonio dating back to the 1600s.
Regarding the school grades, Niche ranks BASIS Texas Charter Schools as the number one school district in the San Antonio area, giving it an average review of 4 stars. However, it's important to note that Niche provides school district rankings based on a variety of factors, including academics, diversity, and teacher quality, among others, and these rankings may not necessarily reflect the opinions of all residents or students in the area.
Additionally, Niche provides an overall grade for the city of San Antonio, Texas, based on a variety of factors including cost of living, education, public schools, housing, and weather. As of the time of writing, San Antonio has an overall Niche grade of B-. The city's population is 1,434,540, and it is described as having an urban-suburban mix feel, with many families and young professionals living there.
What is the property tax rate in San Antonio, Texas?
According to SmartAsset, a financial technology company, Texas has some of the highest property taxes in the United States, with an average effective property tax rate of 1.60%, well above the national average of 0.99%. However, property tax rates can vary depending on the location and assessed value of the property. As for San Antonio specifically, the Bexar County Appraisal District is responsible for assessing the value of all taxable property in the county, including San Antonio. Property owners in San Antonio have the right to protest their assessed value by May 15th or 30 days after the notice is mailed, whichever is later.
Regarding sales tax in San Antonio, the city has a sales tax rate of 8.25%, with 1.0% going to the City of San Antonio, 0.125% to the City of San Antonio Ready to Work Program, 0.125% to the City of San Antonio Pre-K 4 SA initiative, and 0.25% to the San Antonio Advanced Transportation District (ATD).
It's important to note that property taxes and sales taxes are two different types of taxes with different rates and rules. While the average effective property tax rate in Texas is 1.60%, the property tax rate for a specific property in San Antonio can vary based on the assessed value and other factors.
How many rental listings and vacancies are in San Antonio, Texas?
According to Zillow, the median rent for houses in San Antonio, TX in May 2023 is $1,700, with rents ranging from $373 to $135,000.
The rental vacancy rate in San Antonio, Texas was 7.12% in 2019, according to data from the US Census Bureau's American Community Survey. This means that 7.12% of homes for rent in San Antonio were not occupied at that time.
What's the average rent in San Antonio, Texas?
According to data from Zumper, a rental listing platform, the average rent for a studio apartment in San Antonio, TX over the past month was $985 per month, while the average rent for a one-bedroom apartment was $1,077 per month. The average rent for a two-bedroom apartment was $1,298 per month, and the average rent for a three-bedroom apartment was $1,561 per month.
Zillow reports that the median rent for houses in San Antonio, TX as of May 2023 is $1,700, with rental prices ranging from $373 to $135,000.
From Listing to Rental
- Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
- Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
- Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.
