1533 Alhambra, San Antonio, TX 78201

This 1946 built, 2 bed / 1 bath + 1 bed / 1 bath apartment in San Antonio, TX makes sense for any rental investor, even in today's changing real estate market. Prime location in San Antonio, a low cost rental in a great rental income!

Property is Currently Occupied , main unit occupied at closing, studio vacant at closing, contact Dispo Manager for walkthrough coordination.

Deal Takeaways:

Occupied 2 bed 1 bath main house, renting at $1000 a month

Vacant separate studio that was renting at $600 a month

Follows the 1% rule for a rental property

Nearby comp (1525 Alhambra) pending for $254,500!

1630 SAN ANGELO Comp sold for $190K without a back house

Financials:

ARV: $190,000

Purchase Price: $118,000

Profit Details:

$190,000 ARV

(*) 94% for sale commissions

(-) $118,000 purchase price

(-) $10,000 rehab budget

(-) $5,000 closing / holding cost

(=) $45,600 profit

Rental Profit Details:

$1,600 monthly market rents

(-) $136 monthly tax

(-) $110 monthly insurance

(-) $160 property management

(-) $160 allocation for repairs, vacancy, etc

(=) $1,044 net monthly cash flow

Property Details:

2 Beds / 1 Bath

Addition studio apartment separate in the backyard

1946 Year Build

720 Home Square Feet

5,598 Lot Size

July 31st, 2023 Closing

Main house occupied as close, studio vacant at close

Foundation needs leveling