SFR Expenses in San Antonio
Hi All, I'm looking to BRRRR properties in San Antonio and could use some guidance from those of you familiar with the area. I'm looking for rough estimates of expenses to perform high-level property analysis. With that in mind, any guidance on the following questions would be much appreciated!
1) Are these estimates about right for the San Antonio market? Should I adjust any of them up or down?
Vacancy: 5%
Maintenance/repairs: 7%
CapEx: 7%
Property Management: 10%
2) For a single family residence in San Antonio, what utilities do landlords usually cover?
3) From those landlord utilities, how much should I estimate to pay per month (or per year) for single family residences?
4) About how much should I expect to pay for home insurance for a 3 bedroom SFR in San Antonio?
Thanks!!
Elias
Most Popular Reply
@Elias Parisca Hi! You asked for info specific to San Antonio, which I think is very important. You didn’t ask about property tax, which you should spend time looking at. Ours are high and go up a lot year over year. There are ways to mitigate that, but it is still an important factor when analyzing rentals.
1) Are these estimates about right for the San Antonio market? Should I adjust any of them up or down?
Vacancy: 5% THAT SOUNDS REASONABLE - most property is not difficult to rent
Maintenance/repairs: 7% YES but greatly depends on the property age and class. I buy old houses and things break a lot more than newer houses.
CapEx: 7% YES but hardly matters for a single family
Property Management: 10% YES
2) For a single family residence in San Antonio, what utilities do landlords usually cover? NONE
3) From those landlord utilities, how much should I estimate to pay per month (or per year) for single family residences? NA
4) About how much should I expect to pay for home insurance for a 3 bedroom SFR in San Antonio? DEPENDS on the property. Higher value property is more expensive. This is easy to check by calling any insurance agent. I have a great one if you need one.