10527 Perrin Beitel Unit C211

San Antonio, TX 78217

$110,000D

2 bd · 2.0 ba · 925 sqft · Built 1996 · Condo · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,126/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$310
• Vac / Maint / Mgmt: −$236
• Net cashflow: $-181/mo
• Annual: $-2,167/yr
• Cap rate: 4.32%
• Cash-on-cash: -7.04%
• DSCR: 0.69
• 1% rule: 1.02%
• Cash to close: $30,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $110k. Condition is rated good.
• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (23.8% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 102 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (23.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#31 in TX, #1,616 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• North East ISD (urban): math 38% / reading 49% proficiency, ranked #276 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clear Spring El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 318 students, 89% FRL); Krueger Middle (math 37% / reading 34%, grade F, #827 of 1,662 statewide, top 51%, 813 students, 77% FRL); Roosevelt H S (math 20% / reading 40%, grade F, #1,096 of 1,632 statewide, top 68%, 2,599 students, 72% FRL) — zoned schools average 79% FRL vs 41% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 44% district-wide (-15 pts) — the specific schools serving this property underperform the North East ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 28% of rent.
• Market conditions: Rents soft (-0.4%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Slight wear on the cabinets.
• Minor: Bathroom vanity — Slight wear on the vanity.