5038 Primrose Rdg · San Antonio, TX 78109

$120,999

2 bd · 2.0 ba · 850 sqft · SingleFamily · 165 Days on market

Built 2024 Excellent condition 4,791 sqft lot $142/sqft · 10% below area Est $135k · 10% under $56/mo HOA · 4% of rent ↓ 11% since listing

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Why this score? — see what drove the C+ 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).

• Cash flow +23.1/30.0
• ARV discount +12.1/15.0
• DSCR +7.4/10.0
• 1% rule +6.6/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

Key facts

• Walk-in closet
• En-suite bathroom
• Owner's suite

Tags

• OPEN-CONCEPT LAYOUT
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• VERSATILE LOFT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $121k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $121k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: schools C-, crime F.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $836 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $21k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $106,479 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 7.2

CMA / ARV

• ARV (median comp): $134,630
• List price: $120,999
• Delta: -10.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5022 Primrose Rdg	0.02mi	2/2.0	850 (0%)	1mo	$128,999	$152	98
5034 Primrose Rdg	0.00mi	2/2.0	850 (0%)	2mo	$124,999	$147	98
5030 Primrose Rdg	0.01mi	2/2.0	850 (0%)	2mo	$134,999	$159	98
5042 Primrose Rdg	0.01mi	2/2.0	850 (0%)	2mo	$144,999	$171	98
5018 Primrose Rdg	0.02mi	2/2.0	850 (0%)	3mo	$124,999	$147	96
5039 Primrose Rdg	0.03mi	2/2.0	850 (0%)	3mo	$114,999	$135	96
5010 Primrose Rdg	0.03mi	2/2.0	850 (0%)	3mo	$140,999	$166	96
4954 Daisy Blossom	0.08mi	2/2.0	850 (0%)	1mo	$125,999	$148	96
5006 Primrose Rdg	0.04mi	2/2.0	850 (0%)	4mo	$122,999	$145	95
4942 Daisy Blossom	0.09mi	2/2.0	850 (0%)	1mo	$127,999	$151	95
4946 Daisy Blossom	0.08mi	2/2.0	850 (0%)	1mo	$125,999	$148	95
4950 Daisy Blossom	0.08mi	2/2.0	850 (0%)	2mo	$142,999	$168	95

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.71×
• Total profit: $-9,851
• Equity at exit: $18,041

10-year hold

• IRR: -3.3%
• Equity multiple: 0.81×
• Total profit: $-6,463
• Equity at exit: $10,462

Cash invested: $33,880 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1152
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$635
• Tax est. 1.5%: −$151 /mo · $1,815/yr
• Insurance: −$50
• HOA: −$56
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $217

Break-even live

Break-even rent $1,129

Max offer price $120,999

Occupancy floor 80%

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5010 Primrose Rdg Converse, TX	2.0	2.0	850	$1,295	$1.52	43d	1	0.02mi
5015 Daisy Blossom Converse, TX	2.0	2.0	852	$1,290	$1.51	3d	1	0.06mi
12135 Floral Blossom Converse, TX	2.0	2.5	1015	$1,300	$1.28	4d	1	0.06mi
12414 San Crispin Converse, TX	1.0	1.0	675	$970	$1.44	43d	1	0.68mi

HOA detail

• Monthly dues: $56 · $672/yr

Listing history 28 events

1. 2026-06-13
   statusdays on market $120,999 Pending 165 DOM
2. 2026-06-09
   days on market $120,999 Price Change 164 DOM
3. 2026-06-08
   days on market $120,999 Price Change 163 DOM
4. 2026-06-07
   days on market $120,999 Price Change 162 DOM
5. 2026-06-04
   pricestatusdays on market $120,999 Price Change 159 DOM
6. 2026-06-03
   days on market $140,999 Back on Market 158 DOM
7. 2026-06-02
   pricestatus $140,999 Back on Market 157 DOM
8. 2026-05-31
   status $124,999 Pending 157 DOM
9. 2026-05-31
   statusdays on market $124,999 Active 157 DOM
10. 2026-05-20
    price $124,999 407-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

11. 2026-05-09
    price $125,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

12. 2026-05-08
    status Back on Market 522-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

13. 2026-05-08
    status Active 407-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

14. 2026-05-08
    price $125,999 407-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

15. 2026-04-22
    status Pending 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

16. 2026-04-18
    historical 407-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

17. 2026-04-18
    price $126,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

18. 2026-04-09
    price $129,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

19. 2026-04-08
    price $129,999 407-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

20. 2026-04-03
    price $131,999 407-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

21. 2026-04-03
    price $131,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

22. 2026-04-01
    price $141,999 407-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

23. 2026-04-01
    price $141,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

24. 2026-03-31
    price $129,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

25. 2026-03-30
    price $129,999 407-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

26. 2026-03-29
    listed $141,999 Active 407-char remark

    Show marketing remark (407 chars)

    This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor.

27. 2026-01-27
    price $141,999 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

28. 2025-12-09
    listed $140,999 New 522-char remark

    Show marketing remark (522 chars)

    The Felton - This two-story home features a low-maintenance and modern design offering ample space to live and grow. An open-concept layout on the first floor combines the kitchen and living room to simplify everyday multitasking, and the luxurious owner's suite is tucked away at the back of the home, complete with an en-suite bathroom and walk-in closet. A versatile loft and secondary bedroom share the second floor. Prices, dimensions and features may vary and are subject to change. Photos are for illustration only.

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

Taxation est. · year 1

• Rental income: $16,847
• − Mortgage interest: −$6,778
• − Property taxes: −$1,815
• − Insurance: −$605
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − HOA: −$672
• − Depreciation: −$3,520
• Taxable income: $762
• Est. tax owed @ 24.0%: −$183
• After-tax cash flow: $2,420/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 · 3 photos

Excellent 95/100 None rehab

This two-story home presents as move-in-ready with excellent condition and modern design. It offers ample space and a low-maintenance lifestyle, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Resale Updating the kitchen appliances — Modern appliances can increase the home's appeal to potential buyers.
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value.
• Both Adding smart home features — Smart home features can increase the home's appeal and value to both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Resale Updating the kitchen appliances — Modern appliances can increase the home's appeal to potential buyers. ↑
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Both Adding smart home features — Smart home features can increase the home's appeal and value to both buyers and renters. ↑

ⓘ 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: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 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

• County: Bexar County · 1,990,555 people
• City population: 1,806,925
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 1732.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -51.02%
• Current HPI: 236.4923
• Rent YoY: ▼ -1.08%
• Metro: San Antonio-New Braunfels, TX
• 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

-11.3% since first listed

19 events — show timeline

• 2026-05-20 Price Changed $124,999 Zillow
• 2026-05-09 Price Changed $125,999 LERA
• 2026-05-08 Relisted — LERA
• 2026-05-08 Relisted — Zillow
• 2026-05-08 Price Changed $125,999 Zillow
• 2026-04-22 Pending — LERA
• 2026-04-18 Delisted — Zillow
• 2026-04-18 Price Changed $126,999 LERA
• 2026-04-09 Price Changed $129,999 LERA
• 2026-04-08 Price Changed $129,999 Zillow
• 2026-04-03 Price Changed $131,999 Zillow
• 2026-04-03 Price Changed $131,999 LERA
• 2026-04-01 Price Changed $141,999 Zillow
• 2026-04-01 Price Changed $141,999 LERA
• 2026-03-31 Price Changed $129,999 LERA
• 2026-03-30 Price Changed $129,999 Zillow
• 2026-03-29 Listed $141,999 Zillow
• 2026-01-27 Price Changed $141,999 LERA
• 2025-12-09 Listed $140,999 LERA