8403 Pigeonberry Dr · San Antonio, TX 78109

$220,000

3 bd · 2.0 ba · 1,933 sqft · SingleFamily public records · 39 Days on market

Built 2004 8,886 sqft lot $114/sqft · 11% below area Est $248k · 11% under $15/mo HOA · 1% of rent

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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 +12.6/15.0
• Cash flow +9.1/30.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice single story home on a large corner lot with no neighbors behind! Fresh interior paint! Tile in wet areas, carpet in bedrooms and laminate wood elsewhere! Private study/nursery with french doors off the master bedroom! Corner fireplace in living room! Large kitchen with lots of cabinets and a gas range! Open floorplan with high ceilings! Separate dining room! Dual closets in the master bath! Very clean and move in ready! Get here quick, won't last long!

Key facts

• Move-in ready
• Convenient location
• 8,886 sq ft lot

Tags

• PEACEFUL NEIGHBORHOOD
• CONVENIENT LOCATION
• MOVE-IN READY

Property features AI

Finance

• HOA & community: Mandatory HOA; HOA fee $175 annually; Association transfer fee $275

Exterior

• Parking: 2-car garage
• Utilities: Water system available; Sewer system available
• Home design: Pre-owned single-family home; Approximately 22 years old
• Construction: Slab foundation; Composition roof
• Exterior features: Brick and siding exterior; Subdivision: Escondido Creek; Pool and basketball court in community

Interior

• Kitchen: Kitchen (12 x 12); Stove/Range; Dishwasher; Custom cabinets
• Bedrooms: Master bedroom on lower level with walk-in closet, multiple closets, ceiling fan, and full bath (16 x 12); Bedroom 2 (12 x 12); Bedroom 3 (12 x 12)
• Flooring: Carpeting; Laminate flooring
• Bathrooms: Two full bathrooms total; Master bathroom with tub/shower combination and double vanity (10 x 6)
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Washer and dryer connections; Gas water heater; Custom cabinets; Open floor plan; High ceilings; Utility room inside; Separate dining room; Study/library; One living area; All bedrooms on lower level
• Laundry & utility: Washer connection; Dryer connection; Utility room inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (16.4% below list).
• Recommended offer: $184k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: crime F.
• Judson ISD (suburban): math 21% / reading 33% proficiency, ranked #660 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: James L Masters (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 802 students, 66% FRL); Henry Metzger Middle (math 12% / reading 20%, grade F, #1,543 of 1,662 statewide, top 94%, 953 students, 90% FRL); Karen Wagner H S (math 12% / reading 29%, grade F, #1,389 of 1,632 statewide, top 86%, 2,366 students, 80% FRL) — zoned schools average 79% FRL vs 57% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 1207 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); 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 $2k of loan paydown is wiped out by about $7k 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 39 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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.

Recommended offer $183,985 (16.4% 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 39 days. Have you received any prior offers? Is the seller open to a 16% 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. 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. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.26%
• DSCR: 0.85
• GRM: 10.0

CMA / ARV

• ARV (median comp): $248,174
• List price: $220,000
• Delta: -11.35%
• 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
4102 Texas Palm Dr	0.10mi	4/2.5 (+1)	1,941 (+0%)	2mo	$250,000	$129	86
3845 Mistflower	0.26mi	4/2.5 (+1)	1,934 (+0%)	0mo	$229,990	$119	80
3914 Bacall Way	0.41mi	3/2.0	1,903 (-2%)	3mo	$279,900	$147	76
4447 Tivoli	0.26mi	3/2.5	1,772 (-8%)	3mo	$240,000	$135	70
8423 Snakeweed Dr	0.25mi	3/2.0	1,668 (-14%)	3mo	$245,000	$147	63
8706 Joshua Tree	0.55mi	3/2.5	2,031 (+5%)	1mo	$250,000	$123	63
8630 Spotted Owl	0.42mi	3/2.5	2,096 (+8%)	2mo	$260,000	$124	62
8411 Favero Cv	0.41mi	4/2.0 (+1)	1,742 (-10%)	4mo	$195,720	$112	56
8619 Key North	0.42mi	3/2.5	1,701 (-12%)	3mo	$184,777	$109	56
3963 Bacall	0.41mi	3/2.0	1,654 (-14%)	2mo	$264,900	$160	54
7927 Hatchmere	0.55mi	3/2.0	1,656 (-14%)	1mo	$249,999	$151	49
8517 Terlingua Cv	0.64mi	4/2.0 (+1)	1,674 (-13%)	1mo	$230,000	$137	42

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: -25.4%
• Equity multiple: 0.16×
• Total profit: $-51,620
• Equity at exit: $32,803

10-year hold

• IRR: -36.1%
• Equity multiple: -0.29×
• Total profit: $-79,161
• Equity at exit: $19,022

Cash invested: $61,600 (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: 1207
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$361 /mo · $4,327/yr
• Insurance: −$92
• HOA: −$15
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-168

Break-even live

Break-even rent $2,052

Max offer price $190,410

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-105	+0% $-168	+5% $-230	+10% $-292
Rent	-10% $-313	-5% $-240	+0% $-168	+5% $-95	+10% $-22
Rate	-1.0pp $-57	-0.5pp $-112	base $-168	+0.5pp $-225	+1.0pp $-283

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8422 Cherisse Dr Converse, TX	3.0	2.0	1436	$1,681	$1.17	0d	1	0.12mi
8514 Whitebrush Converse, TX	3.0	2.0	1535	$1,700	$1.11	25d	1	0.15mi
8215 Torchwood Dr Converse, TX	4.0	2.0	1958	$1,900	$0.97	45d	1	0.16mi
8411 Crinum Lily Dr Converse, TX	3.0	2.0	1259	$1,550	$1.23	25d	1	0.17mi
8329 Kinclaven Ct Converse, TX	4.0	2.0	1418	$1,895	$1.34	0d	1	0.22mi
8423 Snakeweed Dr Unit 1 Converse, TX	3.0	2.0	1668	$1,500	$0.90	45d	1	0.22mi
8531 Rita Blanca St Converse, TX	4.0	2.5	1941	$1,700	$0.88	16d	1	0.27mi
8519 Snakeweed Dr Converse, TX	3.0	2.0	1259	$1,450	$1.15	14d	1	0.29mi
4330 Gambels Quail Converse, TX	3.0	2.5	2240	$1,695	$0.76	25d	1	0.37mi
3947 West Way Key W Converse, TX	4.0	2.5	2338	$1,841	$0.79	0d	1	0.38mi
3922 West Way Key W Converse, TX	3.0	2.0	1981	$2,300	$1.16	6d	1	0.38mi
4660 Via Sonoma Trl Converse, TX	3.0	2.5	2098	$1,900	$0.91	45d	1	0.39mi
8611 Key Windy Way Unit 2 Converse, TX	3.0	2.5	1514	$1,850	$1.22	3d	1	0.40mi
8611 Key Windy Way Unit 2 Converse, TX	3.0	2.5	1514	$1,850	$1.22	45d	1	0.40mi
8411 Favero Cv Converse, TX	4.0	2.0	1668	$1,695	$1.02	45d	1	0.45mi
8639 Key Windy Way Unit 1 Converse, TX	3.0	2.5	1225	$1,475	$1.20	25d	1	0.46mi
8639 Key Windy Way Converse, TX	3.0	2.5	1225	$1,475	$1.20	6d	1	0.46mi
4315 Roundhay Park Converse, TX	3.0	2.0	1976	$2,800	$1.42	25d	1	0.59mi
4931 Badland Beacon Converse, TX	3.0	2.0	1509	$1,625	$1.08	0d	1	0.59mi
4931 Badland Beacon Converse, TX	3.0	2.0	1509	$1,625	$1.08	45d	1	0.59mi
4746 Gambels Quail Converse, TX	3.0	2.5	2214	$1,695	$0.77	4d	1	0.62mi
5118 Everett Loop Converse, TX	4.0	2.0	1635	$1,599	$0.98	16d	1	0.72mi
8511 Cassia Cv Converse, TX	3.0	2.0	1910	$1,700	$0.89	45d	1	0.72mi
8902 Grand Western Converse, TX	3.0	2.5	1570	$1,995	$1.27	45d	1	0.75mi
8511 Amistad Cv Converse, TX	3.0	2.0	1440	$1,479	$1.03	6d	1	0.78mi
7703 Redstone Mnr Converse, TX	3.0	2.0	1656	$1,750	$1.06	25d	1	0.79mi
8907 Arundal Gdn Converse, TX	3.0	2.0	1921	$1,895	$0.99	19d	1	0.82mi
8555 Barefoot Ln Converse, TX	3.0	2.5	1780	$2,050	$1.15	25d	1	0.83mi
8931 Arundal Gdn Converse, TX	4.0	2.5	2507	$2,300	$0.92	14d	1	0.85mi
7715 Shining Glow San Antonio, TX	3.0	2.5	1554	$1,529	$0.98	17d	1	0.86mi
7715 Shining Glow San Antonio, TX	3.0	2.5	1554	$1,499	$0.96	5d	1	0.86mi
9026 Bowring Park Converse, TX	3.0	2.0	1721	$1,795	$1.04	45d	1	0.88mi
9110 Longhorn Park Converse, TX	3.0	2.0	1646	$1,675	$1.02	17d	1	0.89mi
9110 Longhorn Park Converse, TX	3.0	2.0	1646	$1,675	$1.02	14d	1	0.89mi
8907 Ladbroke Grv Converse, TX	3.0	2.0	1921	$1,900	$0.99	3d	1	0.89mi
7923 Horse Holw San Antonio, TX	3.0	2.0	1916	$1,599	$0.83	4d	1	0.89mi
7718 Burro Bnd San Antonio, TX	3.0	2.5	1547	$1,650	$1.07	5d	1	0.89mi
5475 Bluebell Mdw Converse, TX	3.0	2.5	1605	$1,695	$1.06	45d	1	0.89mi
5514 Soothing Water San Antonio, TX	3.0	2.5	1700	$1,750	$1.03	5d	1	0.94mi
4715 Appaloosa Run San Antonio, TX	3.0	2.5	1774	$1,595	$0.90	17d	1	0.95mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: gas

Listing history 29 events

1. 2026-06-21
   days on market $220,000 Active 39 DOM
2. 2026-06-18
   days on market $220,000 Active 36 DOM
3. 2026-06-17
   days on market $220,000 Active 35 DOM
4. 2026-06-16
   days on market $220,000 Active 34 DOM
5. 2026-06-15
   days on market $220,000 Active 33 DOM
6. 2026-06-13
   days on market $220,000 Active 31 DOM
7. 2026-06-09
   days on market $220,000 Active 27 DOM
8. 2026-06-08
   days on market $220,000 Active 26 DOM
9. 2026-06-07
   days on market $220,000 Active 25 DOM
10. 2026-06-04
    days on market $220,000 Active 22 DOM
11. 2026-06-03
    days on market $220,000 Active 21 DOM
12. 2026-06-02
    days on market $220,000 Active 20 DOM
13. 2026-06-01
    days on market $220,000 Active 19 DOM
14. 2026-05-31
    days on market $220,000 Active 18 DOM
15. 2026-05-13
    listed $220,000 New 688-char remark
16. 2024-03-05
    historical
17. 2024-01-25
    price $270,000
18. 2024-01-14
    listed $285,000 New
19. 2015-07-30
    soldstatus
20. 2015-07-24
    soldstatus Sold

    Show marketing remark (477 chars)

    Very nice single story home on a large corner lot with no neighbors behind! Fresh interior paint! Tile in wet areas, carpet in bedrooms and laminate wood elsewhere! Private study/nursery with french doors off the master bedroom! Corner fireplace in living room! Large kitchen with lots of cabinets and a gas range! Open floorplan with high ceilings! Separate dining room! Dual closets in the master bath! Very clean and move in ready! Get here quick, won't last long!

21. 2015-07-10
    status Pending SB

    Show marketing remark (477 chars)

    Very nice single story home on a large corner lot with no neighbors behind! Fresh interior paint! Tile in wet areas, carpet in bedrooms and laminate wood elsewhere! Private study/nursery with french doors off the master bedroom! Corner fireplace in living room! Large kitchen with lots of cabinets and a gas range! Open floorplan with high ceilings! Separate dining room! Dual closets in the master bath! Very clean and move in ready! Get here quick, won't last long!

22. 2015-06-23
    historical Active Option

    Show marketing remark (477 chars)

    Very nice single story home on a large corner lot with no neighbors behind! Fresh interior paint! Tile in wet areas, carpet in bedrooms and laminate wood elsewhere! Private study/nursery with french doors off the master bedroom! Corner fireplace in living room! Large kitchen with lots of cabinets and a gas range! Open floorplan with high ceilings! Separate dining room! Dual closets in the master bath! Very clean and move in ready! Get here quick, won't last long!

23. 2015-06-19
    listed $154,900 New

    Show marketing remark (477 chars)

    Very nice single story home on a large corner lot with no neighbors behind! Fresh interior paint! Tile in wet areas, carpet in bedrooms and laminate wood elsewhere! Private study/nursery with french doors off the master bedroom! Corner fireplace in living room! Large kitchen with lots of cabinets and a gas range! Open floorplan with high ceilings! Separate dining room! Dual closets in the master bath! Very clean and move in ready! Get here quick, won't last long!

24. 2009-11-24
    soldstatus
25. 2009-11-13
    soldstatus
26. 2009-10-01
    historical
27. 2009-09-12
    listed $124,999
28. 2007-07-02
    historical
29. 2007-04-10
    listed $140,000

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $4,327 · $361/mo
• Projected year-2 tax: $4,327 · $361/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,078
• − Mortgage interest: −$12,323
• − Property taxes: −$4,327
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − HOA: −$180
• − Depreciation: −$6,400
• Taxable loss: −$5,785
• Est. tax savings @ 24.0%: +$1,388
• After-tax cash flow: $-622/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.

Schools (NCES district)

• District: Judson ISD
• NCES district ID: 4824990
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $57,542
• Composite: 24.39/100
• National rank: #7689
• State rank: #660 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

+57.1% since first listed

15 events — show timeline

• 2026-05-13 Listed $220,000 LERA
• 2024-03-05 Listing Removed — LERA
• 2024-01-25 Price Changed $270,000 LERA
• 2024-01-14 Listed $285,000 LERA
• 2015-07-30 Sold (Public Records) — Public Records
• 2015-07-24 Sold (MLS) — LERA
• 2015-07-10 Pending — LERA
• 2015-06-23 Contingent — LERA
• 2015-06-19 Listed $154,900 LERA
• 2009-11-24 Sold (Public Records) — Public Records
• 2009-11-13 Sold (MLS) — LERA
• 2009-10-01 Listing Removed — LERA
• 2009-09-12 Listed $124,999 LERA
• 2007-07-02 Listing Removed — LERA
• 2007-04-10 Listed $140,000 LERA

Property tax history

+11.9%/yr

Latest (2025): $4,327 · -17.2% YoY. Source: county tax records.