Oakridge Plan

San Antonio, TX 78219

$202,999D-

3 bd · 2.0 ba · 1,266 sqft · Built — · SingleFamily · Active · 416 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,691/mo
• Mortgage (P&I): −$1,404
• Tax + insurance: −$446
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $-514/mo
• Annual: $-6,170/yr
• Cap rate: 3.99%
• Cash-on-cash: -8.23%
• DSCR: 0.63
• 1% rule: 0.63%
• Cash to close: $74,951

Investor read

• This is a 3-bed/2.0-bath single-family listed at $203k. Condition is rated good.
• At list price, monthly cash flow is $-514 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (16.7% below list).
• It's been on market 416 days — a 12% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $169k (16.7% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (2.7% local appreciation)).
• 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.
• San Antonio ISD (urban): math 12% / reading 22% proficiency, ranked #805 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hirsch El (math 10% / reading 16%, grade F, #4,152 of 4,322 statewide, top 96%, 533 students, 95% FRL); Davis Middle (math 5% / reading 15%, grade F, #1,641 of 1,662 statewide, top 99%, 545 students, 96% FRL, charter); Houston H S (math 12% / reading 18%, grade F, #1,507 of 1,632 statewide, top 93%, 856 students, 95% FRL) — zoned schools average 95% FRL vs 80% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.7%/yr); 72 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 39% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 416 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• 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?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.