1351 W Theo · San Antonio, TX 78225

$119,900

3 bd · 1.0 ba · 906 sqft · SingleFamily public records · 22 Days on market

Built 1939 6,882 sqft lot Est $121k · at est.

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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 +18.5/30.0
• ARV discount +8.1/15.0
• Appreciation +6.9/10.0
• 1% rule +6.4/10.0
• DSCR +5.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

Welcome to 1351 E. Theo Located between Nogalitos & Zaramora close to IH 35 South / HWY 90. This 2 bedroom 1 bath home conveniently located close to major Highways with easy access to downtown San Antonio. This home has a freshly painted Exterior, New Shingle Roof, has original wood flooring, Freshly Painted Kitchen, Updated Bathroom, and a New Water Heater. Large Back Yard for family gatherings and BBQ Cookouts. Come schedule a showing before it goes. .. ..

Key facts

• New water heater
• New shingle roof
• Updated bathroom

Tags

• FRESHLY PAINTED EXTERIOR
• NEW SHINGLE ROOF
• ORIGINAL WOOD FLOORING
• FRESHLY PAINTED KITCHEN
• UPDATED BATHROOM
• NEW WATER HEATER

Property features AI

Finance

• HOA & community: Subdivision: Nogalitos Heights; Community legal name: Palm Heights

Exterior

• Parking: Attached parking
• Utilities: City water/sewer
• Home design: Pre-owned property; Approximate age: 87 years
• Construction: Slab foundation; Composition roof
• Exterior features: Siding exterior

Interior

• Kitchen: Kitchen approx. 7 x 12
• Bedrooms: Master bedroom is split layout; Master bedroom approx. 11 x 10; Second bedroom approx. 11 x 12
• Flooring: Wood flooring; Vinyl flooring; Laminate flooring
• Bathrooms: One full bathroom
• Heating & cooling: Other heating fuel (see remarks)
• Interior features: Ceiling fans; Washer and dryer connections; All window coverings remain; One living area
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• 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: Hillcrest El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 354 students, 93% FRL); Burbank H S (math 9% / reading 20%, grade F, #1,522 of 1,632 statewide, top 94%, 1,319 students, 90% FRL, charter).
• Market conditions: 36 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 35% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($829 loan paydown + $5k appreciation (3.8% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.14% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $121,404
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1419 W Malone Ave	0.10mi	3/1.0	995 (+10%)	5mo	$129,999	$131	75
426 Royston	0.15mi	2/1.0 (-1)	852 (-6%)	5mo	$124,975	$147	74
346 Thompson	0.59mi	3/1.0	936 (+3%)	1mo	$77,000	$82	66
227 Southway Dr	0.47mi	2/1.0 (-1)	960 (+6%)	2mo	$109,900	$114	62
115 Elmo	0.32mi	2/1.0 (-1)	816 (-10%)	6mo	$99,550	$122	59
855 Cavalier	0.31mi	2/1.0 (-1)	1,035 (+14%)	6mo	$50,000	$48	52
106 Wichita Ct	0.57mi	2/1.0 (-1)	1,002 (+11%)	0mo	$75,000	$75	51
231 Carroll	0.57mi	2/1.0 (-1)	852 (-6%)	10mo	$125,000	$147	50
347 Carroll St	0.42mi	2/1.0 (-1)	792 (-13%)	8mo	$106,000	$134	48
113 Ross	0.42mi	2/1.5 (-1)	800 (-12%)	10mo	$155,000	$194	45
147 Walton	0.72mi	2/1.0 (-1)	800 (-12%)	4mo	$219,999	$275	39
122 Hoover	0.72mi	2/1.0 (-1)	1,034 (+14%)	1mo	$170,000	$164	37

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

Projected returns pro-forma

3.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.81×
• Total profit: $27,082
• Equity at exit: $59,446

10-year hold

• IRR: 14.9%
• Equity multiple: 3.39×
• Total profit: $80,083
• Equity at exit: $96,171

Cash invested: $33,572 (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 78225

• Home prices YoY: 1.5%
• Active inventory: 36
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$629
• Tax from tax record: −$289 /mo · $3,464/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $115

Break-even live

Break-even rent $1,225

Max offer price $119,900

Occupancy floor 87%

Sensitivity live

Price	-10% $183	-5% $149	+0% $115	+5% $81	+10% $47
Rent	-10% $7	-5% $61	+0% $115	+5% $169	+10% $223
Rate	-1.0pp $175	-0.5pp $146	base $115	+0.5pp $84	+1.0pp $52

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Hearne San Antonio, TX	2.0	1.0	1044	$1,400	$1.34	24d	1	0.51mi
626 Kirk Pl San Antonio, TX	2.0	1.0	912	$1,100	$1.21	20d	1	0.56mi
3103 Neptune St San Antonio, TX	3.0	2.0	1008	$1,350	$1.34	44d	1	0.57mi
450 Taft Blvd San Antonio, TX	3.0	1.0	883	$1,295	$1.47	44d	1	0.58mi
350 Barrett Pl San Antonio, TX	2.0	1.0	616	$1,225	$1.99	5d	1	0.64mi
329 Taft Blvd San Antonio, TX	2.0	2.0	862	$2,200	$2.55	2d	1	0.72mi
416 Collingsworth Unit 2 San Antonio, TX	2.0	1.0	570	$1,100	$1.93	44d	1	1.04mi
1222 Brighton Ave Unit B San Antonio, TX	3.0	1.0	725	$999	$1.38	18d	1	1.05mi
843 Brady Blvd San Antonio, TX	3.0	2.0	864	$1,650	$1.91	24d	1	1.06mi
834 Division Ave San Antonio, TX	2.0	1.0	700	$1,050	$1.50	24d	1	1.06mi
834 Division Ave Unit 2 San Antonio, TX	2.0	1.0	936	$950	$1.01	5d	1	1.06mi
815 Ripford St San Antonio, TX	2.0	1.0	728	$1,300	$1.79	5d	1	1.09mi
2003 S Zarzamora St San Antonio, TX	1.0–4.0	1.0–2.0	1028	$1,257	$1.22	24d	1	1.13mi
1938 S Zarzamora St Unit 710 San Antonio, TX	2.0	2.0	955	$1,102	$1.15	3d	1	1.17mi
319 Noria St San Antonio, TX	3.0	1.0	1002	$1,100	$1.10	24d	1	1.23mi
520 Prado St Unit 1 San Antonio, TX	2.0	1.0	620	$799	$1.29	44d	1	1.24mi

Listing history 16 events

1. 2026-06-18
   days on market $119,900 Active 22 DOM
2. 2026-06-17
   days on market $119,900 Active 21 DOM
3. 2026-06-16
   days on market $119,900 Active 20 DOM
4. 2026-06-15
   days on market $119,900 Active 19 DOM
5. 2026-06-13
   days on market $119,900 Active 17 DOM
6. 2026-06-09
   days on market $119,900 Active 13 DOM
7. 2026-06-08
   days on market $119,900 Active 12 DOM
8. 2026-06-07
   statusdays on market $119,900 Active 11 DOM
9. 2026-06-04
   days on market $119,900 New 8 DOM
10. 2026-06-03
    days on market $119,900 New 7 DOM
11. 2026-06-02
    days on market $119,900 New 6 DOM
12. 2026-06-01
    days on market $119,900 New 5 DOM
13. 2026-05-31
    days on market $119,900 New 4 DOM
14. 2026-05-27
    listed $119,900 New
15. 2026-01-29
    soldstatus
16. 2011-07-14
    soldstatus

ⓘ 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: $3,464 · $289/mo
• Projected year-2 tax: $3,464 · $289/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,443
• − Mortgage interest: −$6,716
• − Property taxes: −$3,464
• − Insurance: −$600
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$3,488
• Taxable loss: −$456
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $1,491/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: San Antonio ISD
• NCES district ID: 4838730
• Math proficiency: 12% ▼ -21.00%
• Reading proficiency: 22% ▼ -7.00%
• Median HH income: $30,952
• Composite: 13.57/100
• National rank: #9512
• State rank: #805 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
• County: Bexar County · 1,990,555 people
• City population: 1,806,925
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 13,104
• Household income: $46,955
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 381.0

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: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 41% White 5% Black 4% Native American 3%
• Hispanic origin (detail): Mexican 85%
• Foreign-born: 13% · Canada
• Languages at home: 35% English-only · Spanish 65%

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: ▲ 3.81%
• Current HPI: 264.2018
• Rent YoY: —
• 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

3 events — show timeline

• 2026-05-27 Listed $119,900 LERA
• 2026-01-29 Sold (Public Records) — Public Records
• 2011-07-14 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,464 · +0.4% YoY. Source: county tax records.