3 Beds 3 Baths in San Antonio, TX

✌️ Subto Assignment Opportunity in San Antonio, TX ✌️

This is a prime investment opportunity in San Antonio, TX, featuring a 3 bedroom, 2.5 bathroom home with 1,246 square feet of living space, built in 2017. The property requires minor cosmetic touch-ups and an AC repair or replacement to be move-in ready. The property is well-suited for both standard market rental and Section 8 housing, ensuring flexible exit strategies and strong cash flow potential.

Property Details:

• Location: San Antonio, TX
• Bedrooms: 3
• Bathrooms: 2.5
• Living Space: 1,246 sq ft
• Year Built: 2017
• Condition: Requires AC repair/replacement and minor cosmetic touch-ups
• HOA Fee: $127/year ($10.59/month)

Financial Details:

• Purchase Price: $148,006.52
• Monthly Debt Service:
  • 1st Lien Mortgage UPB: $141,844.24
  • PITI: $1,389.00/month
  • Interest Rate: 7.125%
  • 2nd Lien Partial Claim (non-interest bearing, silent second): $6,162.28

Rental Projections:

• Standard Market Rent: $1,600/month
• Section 8 Rent: $1,840/month

Investment Details:

• Cash to Close (Entry Fee): $30,000 + Closing Costs (or best offer)
  • Entry Fee Includes: Cash to seller, arrears, and assignment fee
• Close Date: June 28, 2024

This property presents a solid investment with its favorable financing terms and potential for high rental income. With a standard market rent of $1,600 per month and Section 8 rent of $1,840 per month, the property promises strong cash flow. The HOA fee is minimal, and the property has a manageable PITI of $1,389 per month.

Given its recent build and minor required repairs, this home is an attractive option for investors seeking a property in a thriving market like San Antonio. Secure this investment with a $30,000 entry fee plus closing costs and prepare to capitalize on its rental income potential.

Details

Property ID
SPSP-18383

Bedrooms
3

Bathrooms
3

Property Size
1246

Entry Cost ($)
30000

APR (%)
7.125

PITI ($)
1390

Balance ($)
141844