4263 Marjoram Lndg · San Antonio, TX 78073

$229,500

3 bd · 2.0 ba · 1,434 sqft · SingleFamily · 80 Days on market

Built 2026 Good condition 5,227 sqft lot $160/sqft · 7% below area Est $247k · 7% under $33/mo HOA · 2% of rent ↓ 11% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +10.7/15.0
• Cash flow +8.0/30.0
• Appreciation +6.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• DSCR +2.1/10.0

Listing remarks MLS

Seller is willing to assist with closing costs or a rate buy-down through preferred lender with an acceptable offer. Discover the Caprock floorplan at Preserve at Medina in Von Ormy, Texas. This one-story new construction home offers 3 bedrooms, 2 bathrooms, and a 2-car garage across approximately 1,435 square feet of thoughtfully designed living space. A welcoming front porch (per plan) opens into a bright, open-concept layout where the kitchen, dining, and living areas flow seamlessly together-ideal for everyday living and entertaining. The kitchen features quartz countertops, quality cabinetry, stainless steel appliances, and generous prep space. The private primary suite offers a relaxing retreat with an ensuite bathroom featuring quartz vanity countertops, quality cabinetry, and a spacious walk-in closet. Secondary bedrooms include carpet flooring, closets for storage, and flexibility for guests, a home office, or additional living space. Additional features include sheet vinyl flooring in the entry, living room, and all wet areas, along with quartz countertops in all bathrooms. This home also includes the Home Is Connected base package, allowing you to control lights, thermostat, and door locks from your smart device. Enjoy new construction living in a growing community with convenient access to major highways, shopping, and dining.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (23.4% below list).
• Recommended offer: $176k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.8% in San Antonio — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• 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.
• Southwest ISD (rural): math 21% / reading 31% proficiency, ranked #701 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Spicewood Park El (math 16% / reading 23%, grade F, #3,583 of 4,322 statewide, top 86%, 593 students, 93% FRL); Ronald E Mcnair Middle (math 27% / reading 31%, grade F, #1,103 of 1,662 statewide, top 67%, 748 students, 77% FRL); Southwest H S (math 17% / reading 39%, grade F, #1,170 of 1,632 statewide, top 72%, 2,152 students, 72% FRL).
• Market conditions: 323 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.6% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,713 (23.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.31%
• DSCR: 0.81
• GRM: 10.9

CMA / ARV

• ARV (median comp): $246,795
• List price: $229,500
• Delta: -7.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4243 Marjoram Lndg	0.04mi	3/2.0	1,434 (0%)	2mo	$238,610	$166	96
4247 Paprika Grv	0.06mi	3/2.5	1,470 (+2%)	1mo	$245,670	$167	90
4231 Paprika Grv	0.09mi	3/2.5	1,470 (+2%)	1mo	$241,170	$164	89
15434 Lemon Pepper Crk	0.18mi	3/2.0	1,434 (0%)	5mo	$253,000	$176	88
15435 Mint Patch Mdw	0.09mi	3/2.5	1,470 (+2%)	3mo	$240,670	$164	87
15523 Mint Patch Mdw	0.12mi	3/2.5	1,470 (+2%)	6mo	$254,499	$173	84
4307 Common Sage	0.29mi	3/2.5	1,470 (+2%)	1mo	$245,310	$167	80
15531 Clove Spice	0.28mi	3/2.0	1,365 (-5%)	1mo	$196,080	$144	78
15519 Mint Patch Mdw	0.12mi	4/2.0 (+1)	1,572 (+10%)	5mo	$259,000	$165	69
15418 Lemon Pepper Crk	0.17mi	4/2.0 (+1)	1,572 (+10%)	3mo	$248,590	$158	69
4226 Paprika Grv	0.13mi	4/2.0 (+1)	1,572 (+10%)	6mo	$258,499	$164	68
15238 Walcott Rdg	0.54mi	3/2.5	1,301 (-9%)	0mo	$194,450	$149	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.13×
• Total profit: $8,179
• Equity at exit: $98,077

10-year hold

• IRR: 6.0%
• Equity multiple: 1.87×
• Total profit: $55,902
• Equity at exit: $147,285

Cash invested: $64,260 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 78073

• Home prices YoY: 0.9%
• Active inventory: 323
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$1,204
• Tax est. 1.5%: −$287 /mo · $3,442/yr
• Insurance: −$96
• HOA: −$33
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-231

Break-even live

Break-even rent $2,049

Max offer price $196,090

Occupancy floor —

Sensitivity live

Price	-10% $-72	-5% $-152	+0% $-231	+5% $-310	+10% $-389
Rent	-10% $-370	-5% $-300	+0% $-231	+5% $-161	+10% $-92
Rate	-1.0pp $-115	-0.5pp $-173	base $-231	+0.5pp $-290	+1.0pp $-351

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,375
• Closing costs: $6,885
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4231 Paprika Grv Von Ormy, TX	3.0	3.0	1470	$1,723	$1.17	0d	1	0.06mi
4218 Paprika Grv Von Ormy, TX	3.0	2.0	1434	$1,595	$1.11	45d	1	0.11mi
4323 Caraway Bay Von Ormy, TX	3.0–4.0	2.0	1572	$2,129	$1.35	0d	6	0.16mi
15115 Harbor Lndg Von Ormy, TX	4.0	2.0	1794	$1,795	$1.00	16d	1	0.25mi
15319 Escalante Pass Von Ormy, TX	3.0	2.0	1428	$2,000	$1.40	0d	1	0.25mi
15531 Clove Spice Way Von Ormy, TX	3.0	2.0	1296	$1,595	$1.23	6d	1	0.25mi
15531 Clove Spice Way Von Ormy, TX	3.0	2.0	1296	$1,595	$1.23	22d	1	0.25mi
15027 Harbor Lndg Von Ormy, TX	3.0	2.0	1526	$1,850	$1.21	25d	1	0.29mi
15619 Garam Trl Von Ormy, TX	3.0	2.5	1856	$1,755	$0.95	45d	1	0.32mi
15315 Waterow Vw Von Ormy, TX	3.0–5.0	2.0–3.5	1781	$1,855	$1.04	0d	1	0.38mi
15706 Clove Spice Way Von Ormy, TX	3.0	2.0	1535	$1,650	$1.07	0d	1	0.38mi
4042 Bay Leaf Loop Von Ormy, TX	3.0	2.0	1296	$1,600	$1.23	45d	1	0.42mi
15226 Walcott Rdg Von Ormy, TX	3.0	2.5	1297	$1,700	$1.31	25d	1	0.53mi
15266 Snug Harbor Way Von Ormy, TX	3.0	2.5	1525	$1,647	$1.08	3d	1	0.54mi
15115 Jetfire Pt Von Ormy, TX	3.0	2.0	1526	$1,800	$1.18	45d	1	0.59mi
15115 Jetfire Pt Von Ormy, TX	3.0	2.0	1525	$1,800	$1.18	19d	1	0.59mi
15115 Jetfire Pt Von Ormy, TX	3.0	2.0	1526	$1,800	$1.18	6d	1	0.59mi
3819 Leighton Hbr Von Ormy, TX	3.0	2.5	1430	$1,700	$1.19	25d	1	0.64mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 21 events

1. 2026-06-21
   days on market $229,500 Active 80 DOM
2. 2026-06-18
   days on market $229,500 Active 77 DOM
3. 2026-06-17
   days on market $229,500 Active 76 DOM
4. 2026-06-16
   days on market $229,500 Active 75 DOM
5. 2026-06-15
   days on market $229,500 Active 74 DOM
6. 2026-06-13
   days on market $229,500 Active 72 DOM
7. 2026-06-09
   days on market $229,500 Active 68 DOM
8. 2026-06-08
   days on market $229,500 Active 67 DOM
9. 2026-06-07
   days on market $229,500 Active 66 DOM
10. 2026-06-04
    days on market $229,500 Active 63 DOM
11. 2026-06-03
    days on market $229,500 Active 62 DOM
12. 2026-06-02
    statusdays on market $229,500 Active 61 DOM
13. 2026-06-01
    days on market $229,500 Price Change 60 DOM
14. 2026-05-31
    days on market $229,500 Price Change 59 DOM
15. 2026-05-02
    price $234,500 1372-char remark

    Show marketing remark (1372 chars)

    Seller is willing to assist with closing costs or a rate buy-down through preferred lender with an acceptable offer. Discover the Caprock floorplan at Preserve at Medina in Von Ormy, Texas. This one-story new construction home offers 3 bedrooms, 2 bathrooms, and a 2-car garage across approximately 1,435 square feet of thoughtfully designed living space. A welcoming front porch (per plan) opens into a bright, open-concept layout where the kitchen, dining, and living areas flow seamlessly together-ideal for everyday living and entertaining. The kitchen features quartz countertops, quality cabinetry, stainless steel appliances, and generous prep space. The private primary suite offers a relaxing retreat with an ensuite bathroom featuring quartz vanity countertops, quality cabinetry, and a spacious walk-in closet. Secondary bedrooms include carpet flooring, closets for storage, and flexibility for guests, a home office, or additional living space. Additional features include sheet vinyl flooring in the entry, living room, and all wet areas, along with quartz countertops in all bathrooms. This home also includes the Home Is Connected base package, allowing you to control lights, thermostat, and door locks from your smart device. Enjoy new construction living in a growing community with convenient access to major highways, shopping, and dining.

16. 2026-04-10
    price $235,000 1372-char remark

    Show marketing remark (1372 chars)

    Seller is willing to assist with closing costs or a rate buy-down through preferred lender with an acceptable offer. Discover the Caprock floorplan at Preserve at Medina in Von Ormy, Texas. This one-story new construction home offers 3 bedrooms, 2 bathrooms, and a 2-car garage across approximately 1,435 square feet of thoughtfully designed living space. A welcoming front porch (per plan) opens into a bright, open-concept layout where the kitchen, dining, and living areas flow seamlessly together-ideal for everyday living and entertaining. The kitchen features quartz countertops, quality cabinetry, stainless steel appliances, and generous prep space. The private primary suite offers a relaxing retreat with an ensuite bathroom featuring quartz vanity countertops, quality cabinetry, and a spacious walk-in closet. Secondary bedrooms include carpet flooring, closets for storage, and flexibility for guests, a home office, or additional living space. Additional features include sheet vinyl flooring in the entry, living room, and all wet areas, along with quartz countertops in all bathrooms. This home also includes the Home Is Connected base package, allowing you to control lights, thermostat, and door locks from your smart device. Enjoy new construction living in a growing community with convenient access to major highways, shopping, and dining.

17. 2026-04-02
    listed $245,000 New 1372-char remark

    Show marketing remark (1372 chars)

    Seller is willing to assist with closing costs or a rate buy-down through preferred lender with an acceptable offer. Discover the Caprock floorplan at Preserve at Medina in Von Ormy, Texas. This one-story new construction home offers 3 bedrooms, 2 bathrooms, and a 2-car garage across approximately 1,435 square feet of thoughtfully designed living space. A welcoming front porch (per plan) opens into a bright, open-concept layout where the kitchen, dining, and living areas flow seamlessly together-ideal for everyday living and entertaining. The kitchen features quartz countertops, quality cabinetry, stainless steel appliances, and generous prep space. The private primary suite offers a relaxing retreat with an ensuite bathroom featuring quartz vanity countertops, quality cabinetry, and a spacious walk-in closet. Secondary bedrooms include carpet flooring, closets for storage, and flexibility for guests, a home office, or additional living space. Additional features include sheet vinyl flooring in the entry, living room, and all wet areas, along with quartz countertops in all bathrooms. This home also includes the Home Is Connected base package, allowing you to control lights, thermostat, and door locks from your smart device. Enjoy new construction living in a growing community with convenient access to major highways, shopping, and dining.

18. 2026-03-10
    status Pending
19. 2026-03-06
    historical
20. 2026-02-01
    price $238,610
21. 2026-01-27
    listed $263,610 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,086
• − Mortgage interest: −$12,856
• − Property taxes: −$3,442
• − Insurance: −$1,148
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − HOA: −$396
• − Depreciation: −$6,676
• Taxable loss: −$6,806
• Est. tax savings @ 24.0%: +$1,633
• After-tax cash flow: $-1,137/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This one-story new construction home offers a good condition with a fresh paint job and modern finishes. It is move-in ready with minor updates that can further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet in bedrooms — Carpet can be worn and replacing it improves comfort and appearance
• Resale Install new kitchen backsplash — A backsplash can add visual interest and protect the cabinets

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet in bedrooms — Carpet can be worn and replacing it improves comfort and appearance ↑
• Resale Install new kitchen backsplash — A backsplash can add visual interest and protect the cabinets ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Southwest ISD
• NCES district ID: 4840950
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $43,362
• Composite: 22.22/100
• National rank: #8153
• State rank: #701 of 826 in TX

Livability — San Antonio

• Score: 80/100
• State rank: #31
• US rank: #1616

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Antonio, TX
• City population: 1,806,925
• Population (ZIP): 9,510

Population outlook (Bexar County) Hauer SSP2

• Today (2025): 2,336,851 people
• By 2030: 2,560,728 · +9.6%
• By 2040: 3,020,569 · +29.3%
• By 2050: 3,493,522 · +49.5%
• By 2075: 4,668,459 · +99.8%
• By 2100: 5,533,242 · +136.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (81%)
• Race & ethnicity: Hispanic / Latino 81% Two or more races 33% White 16%
• Hispanic origin (detail): Mexican 75%
• Foreign-born: 12% · Canada
• Languages at home: 51% English-only · Spanish 48% German/W. Germanic 1%

Political lean MEDSL · Bexar

• 2024 margin: Lean D (+9.8) · D 54.3% · R 44.6% · Other 1.1%
• 2008→2024 swing: +4.2pp toward D · 2008: 5.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.2 2016: D+13.5 2012: D+4.6 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.60%
• Current HPI: 289.1266
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-11.0% since first listed

7 events — show timeline

• 2026-05-02 Price Changed $234,500 LERA
• 2026-04-10 Price Changed $235,000 LERA
• 2026-04-02 Listed $245,000 LERA
• 2026-03-10 Pending — LERA
• 2026-03-06 Listing Removed — LERA
• 2026-02-01 Price Changed $238,610 LERA
• 2026-01-27 Listed $263,610 LERA