2804 Jasper Stone · San Antonio, TX 78264

$162,999

4 bd · 2.5 ba · 1,802 sqft · SingleFamily · 48 Days on market

Built 2026 Excellent condition 4,791 sqft lot $90/sqft · at area comps Est $170k · at est. $22/mo HOA · 1% of rent ↓ 4% 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 +14.6/30.0
• ARV discount +9.5/15.0
• Appreciation +7.0/10.0
• Condition / age +5.0/5.0
• DSCR +4.4/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Chef-ready kitchen
• Open floorplan
• Sprawling game room

Tags

• OPEN FLOORPLAN
• CHEF-READY KITCHEN
• TRANQUIL OWNER'S SUITE
• SPRAWLING GAME ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $163k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $38 ($451/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (7.9% below list).
• Recommended offer: $150k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Southside ISD (rural): math 16% / reading 25% proficiency, ranked #771 of 826 in TX (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 329 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 ($1k loan paydown + $6k appreciation (3.9% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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 48 days — a 3% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $150,136 (7.9% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

• ARV (median comp): $170,499
• List price: $162,999
• Delta: -4.40%
• 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
2726 Jasper Stone	0.06mi	4/2.5	1,802 (0%)	1mo	$171,999	$95	97
2714 Jasper Stone	0.08mi	4/2.5	1,802 (0%)	1mo	$172,999	$96	95
2741 Morganite Ring	0.04mi	4/2.5	1,867 (+4%)	1mo	$222,999	$119	91
2725 Morganite Ring	0.07mi	4/2.5	1,867 (+4%)	1mo	$190,999	$102	90
20502 Andalusite Way	0.13mi	4/2.5	1,897 (+5%)	1mo	$198,999	$105	85
2878 Red Diamond	0.14mi	4/2.5	1,692 (-6%)	1mo	$185,999	$110	82
20622 Andalusite Way	0.09mi	4/2.5	1,535 (-15%)	2mo	$179,999	$117	70
20572 Andalusite Way	0.13mi	4/2.5	1,535 (-15%)	1mo	$159,999	$104	69
20536 Andalusite Way	0.13mi	4/2.5	1,535 (-15%)	1mo	$159,999	$104	68
20560 Andalusite Way	0.13mi	4/2.5	1,535 (-15%)	2mo	$159,999	$104	68
3012 Carnelian Trl	0.15mi	4/2.5	1,535 (-15%)	3mo	$159,999	$104	66
2922 Carnelian Trl	0.15mi	4/2.5	1,535 (-15%)	3mo	$156,999	$102	66

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

Projected returns pro-forma

3.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.67×
• Total profit: $30,367
• Equity at exit: $82,120

10-year hold

• IRR: 12.7%
• Equity multiple: 3.08×
• Total profit: $94,969
• Equity at exit: $133,899

Cash invested: $45,640 (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 78264

• Home prices YoY: 1.3%
• Active inventory: 329
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,501 high
• Mortgage (P&I): −$855
• Tax est. 1.5%: −$204 /mo · $2,445/yr
• Insurance: −$68
• HOA: −$22
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $38

Break-even live

Break-even rent $1,454

Max offer price $162,999

Occupancy floor 92%

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: $40,750
• Closing costs: $4,890
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20622 Andalusite Way San Antonio, TX	4.0	2.5	1535	$1,550	$1.01	43d	1	0.11mi
2906 Carnelian Trl San Antonio, TX	3.0	2.0	1360	$1,550	$1.14	43d	1	0.18mi
20447 Red Coral San Antonio, TX	3.0	2.0	1230	$1,320	$1.07	23d	1	0.20mi
2807 Ruby Xing San Antonio, TX	3.0	2.0	1276	$1,400	$1.10	23d	1	0.34mi
20335 Campbellton Rd San Antonio, TX	3.0	2.0	1393	$1,450	$1.04	43d	1	0.64mi
20823 Pinon Grv San Antonio, TX	3.0	2.0	1403	$1,650	$1.18	43d	1	1.04mi
20414 Deets Trl San Antonio, TX	3.0	2.5	1858	$1,750	$0.94	3d	1	1.34mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 13 events

1. 2026-06-13
   statusdays on market $162,999 Pending 48 DOM
2. 2026-06-09
   days on market $162,999 Price Change 47 DOM
3. 2026-06-08
   days on market $162,999 Price Change 46 DOM
4. 2026-06-07
   days on market $162,999 Price Change 45 DOM
5. 2026-06-04
   pricedays on market $162,999 Price Change 42 DOM
6. 2026-06-03
   days on market $163,999 Price Change 41 DOM
7. 2026-06-02
   days on market $163,999 Price Change 40 DOM
8. 2026-06-01
   days on market $163,999 Price Change 39 DOM
9. 2026-05-31
   days on market $163,999 Price Change 38 DOM
10. 2026-05-13
    price $185,999 608-char remark

    Show marketing remark (608 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

11. 2026-05-09
    price $188,999 608-char remark

    Show marketing remark (608 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

12. 2026-05-06
    price $189,999 608-char remark

    Show marketing remark (608 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

13. 2026-04-23
    listed $192,999 New 608-char remark

    Show marketing remark (608 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes 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: $18,016
• − Mortgage interest: −$9,130
• − Property taxes: −$2,445
• − Insurance: −$815
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − HOA: −$264
• − Depreciation: −$4,742
• Taxable loss: −$2,263
• Est. tax savings @ 24.0%: +$543
• After-tax cash flow: $995/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 100/100 None rehab

This two-story home is move-in ready with a fresh exterior, new roof, and well-maintained landscaping, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Interior finishing touches — Completes the home's interior and makes it move-in ready for both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Interior finishing touches — Completes the home's interior and makes it move-in ready for 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: Southside ISD
• NCES district ID: 4840920
• Math proficiency: 16% ▼ -15.00%
• Reading proficiency: 25% ▼ -2.00%
• Median HH income: $43,526
• Composite: 17.68/100
• National rank: #9027
• State rank: #771 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

• City population: 1,806,925
• Population (ZIP): 11,702

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 (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 35% White 17% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 73%
• Common ancestry: Lithuanian 1% Serbian 1% Greek 1%
• Foreign-born: 14% · Canada
• Languages at home: 48% English-only · Spanish 51% Tagalog/Filipino 0%

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: ▲ 3.94%
• Current HPI: 298.8446
• 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

-3.6% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $185,999 LERA
• 2026-05-09 Price Changed $188,999 LERA
• 2026-05-06 Price Changed $189,999 LERA
• 2026-04-23 Listed $192,999 LERA