8349 Morning Grv · Converse, TX 78109

$159,900

3 bd · 2.0 ba · 1,328 sqft · SingleFamily public records · 12 Days on market

Built 1996 5,052 sqft lot $120/sqft · 21% below area Est $201k · 21% under $22/mo HOA · 1% of rent

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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 +18.2/30.0
• ARV discount +15.0/15.0
• 1% rule +5.7/10.0
• DSCR +5.7/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with solid bones and tons of potential! This estate sale property is being sold as-is and is perfect for buyers looking to add value with a little TLC. Featuring 3 bedrooms, 2 bathrooms, and over 1,300 square feet, this one-story home offers a functional layout with a spacious living area, eat-in kitchen, and all bedrooms conveniently located on the main level. Major systems are in good condition, including the AC, water heater, and water softener-giving you a strong head start on improvements. The home also includes a one-car garage, an interior utility room, and a large walk-in pantry for added storage. Multiple walk-in closets provide great space and functionality throug

Key facts

• One story home
• Spacious living area
• Eat in kitchen

Tags

• ONE STORY HOME
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREA
• EAT IN KITCHEN
• MAIN LEVEL
• INTERIOR UTILITY ROOM

Property features AI

Finance

• Financial info: Association transfer fee applies
• HOA & community: Mandatory HOA; Community pool; Park/playground; HOA fee charged annually

Exterior

• Parking: 1-car garage
• Utilities: City water and sewer
• Home design: Pre-owned single-family home; Approximately 30 years old
• Construction: Brick and siding exterior; Composition roof; Slab foundation
• Exterior features: Covered patio; Patio slab; Privacy fence; Mature trees

Interior

• Kitchen: Eat-in kitchen; Stove/Range; Dishwasher; Walk-in pantry
• Bedrooms: Master bedroom with walk-in closet, ceiling fan and full bath; Bedroom 2; Bedroom 3
• Flooring: Carpeting; Wood flooring
• Bathrooms: Two full bathrooms; Master bath with tub/shower combination
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Chandelier; Eat-in kitchen; Walk-in pantry; Utility room inside; Washer and dryer connections; Stove/Range; Dishwasher; Ground level / no steps; Cable TV available; High speed internet; All bedrooms on main level; All window coverings remain
• 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 $160k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 7.4% vs local median 4.4% in Converse — 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 66/100 on livability (#649 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools C-, crime C-, amenities 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.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1k of loan paydown is wiped out by about $5k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: 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 $159,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.86%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

• ARV (median comp): $201,390
• List price: $159,900
• Delta: -20.60%
• 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
8349 Morning Grv	0.00mi	3/2.0	1,328 (0%)	0mo	$159,900	$120	100
6555 Beech Trl	0.30mi	3/2.0	1,408 (+6%)	2mo	$195,000	$138	75
11548 Chestnut Rose	0.60mi	3/2.0	1,354 (+2%)	3mo	$192,999	$143	66
11572 Chestnut Rose	0.60mi	3/2.0	1,354 (+2%)	3mo	$199,999	$148	66
6852 Flatstone Pass	0.38mi	3/2.0	1,211 (-9%)	2mo	$189,000	$156	66
6630 Snow Mdw	0.22mi	3/2.0	1,525 (+15%)	0mo	$215,000	$141	65
11520 Chestnut Rose	0.60mi	3/2.0	1,380 (+4%)	3mo	$159,999	$116	63
6670 Snow Meadow Dr	0.29mi	3/2.0	1,513 (+14%)	2mo	$169,900	$112	62
8207 Tortoise Trl	0.54mi	3/2.0	1,436 (+8%)	4mo	$270,000	$188	58
11508 Chestnut Rose	0.60mi	3/2.0	1,213 (-9%)	4mo	$182,999	$151	54
11532 Chestnut Rose	0.60mi	3/2.0	1,213 (-9%)	4mo	$180,999	$149	54
11540 Chestnut Rose	0.60mi	4/2.0 (+1)	1,483 (+12%)	4mo	$197,999	$134	44

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: -13.9%
• Equity multiple: 0.52×
• Total profit: $-21,690
• Equity at exit: $23,842

10-year hold

• IRR: -11.4%
• Equity multiple: 0.42×
• Total profit: $-26,174
• Equity at exit: $13,825

Cash invested: $44,772 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$839
• Tax from tax record: −$287 /mo · $3,440/yr
• Insurance: −$67
• HOA: −$22
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $144

Break-even live

Break-even rent $1,536

Max offer price $159,900

Occupancy floor 87%

Sensitivity live

Price	-10% $234	-5% $189	+0% $144	+5% $99	+10% $53
Rent	-10% $8	-5% $76	+0% $144	+5% $212	+10% $280
Rate	-1.0pp $224	-0.5pp $185	base $144	+0.5pp $102	+1.0pp $60

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6623 Meadow Dawn Dr Converse, TX	3.0	2.0	1513	$1,600	$1.06	44d	1	0.15mi
6827 Cypress Mist Dr Converse, TX	3.0	2.5	1698	$1,449	$0.85	3d	1	0.15mi
8335 Bent Meadow Dr Converse, TX	3.0	2.0	1513	$1,595	$1.05	44d	1	0.16mi
6822 Eden Grove Dr Converse, TX	3.0	2.0	1435	$1,490	$1.04	44d	1	0.17mi
6863 Cypress Mist Dr Converse, TX	3.0	2.0	1735	$1,550	$0.89	11d	1	0.22mi
6846 Columbia Ridge Dr Converse, TX	3.0	2.0	1307	$1,430	$1.09	5d	1	0.24mi
8304 Heights Vly Converse, TX	3.0	2.0	1249	$1,450	$1.16	15d	1	0.28mi
6491 Beech Trail Dr Converse, TX	3.0	2.0	1520	$2,100	$1.38	44d	1	0.28mi
6870 Flaming Ridge Dr Converse, TX	3.0	2.5	1698	$1,695	$1.00	13d	1	0.31mi
6870 Flaming Ridge Dr Converse, TX	3.0	2.0	1698	$1,695	$1.00	24d	1	0.31mi
8210 Steep Vly Converse, TX	3.0	2.5	1757	$1,485	$0.85	44d	1	0.33mi
8011 Chestnut Barr Dr Converse, TX	3.0	2.0	1520	$1,665	$1.10	44d	1	0.33mi
7038 Cole Creek Dr Converse, TX	3.0	2.5	1582	$1,695	$1.07	24d	1	0.34mi
8732 Seneca Crk Converse, TX	3.0	2.5	1582	$1,445	$0.91	44d	1	0.36mi
6802 Canary Meadow Dr Converse, TX	3.0	2.0	1734	$1,550	$0.89	24d	1	0.38mi
8162 Heights Vly Converse, TX	4.0	2.5	1828	$1,680	$0.92	44d	1	0.38mi
8206 Longhorn Ridge Dr Converse, TX	3.0	2.0	1386	$1,525	$1.10	3d	1	0.39mi
6439 Beech Trail Dr Converse, TX	3.0	2.0	1520	$1,450	$0.95	13d	1	0.40mi
6907 Saharastone Dr Converse, TX	3.0	3.0	1211	$1,416	$1.17	13d	1	0.40mi
6907 Saharastone Dr Converse, TX	3.0	3.0	1211	$1,310	$1.08	5d	1	0.40mi
8151 Cheryl Meadow Dr Converse, TX	3.0	2.5	1698	$1,730	$1.02	5d	1	0.51mi
8127 Ocean Meadow Dr Converse, TX	3.0	2.0	1520	$1,700	$1.12	44d	1	0.51mi
6610 Eastern Clouds Converse, TX	3.0	2.0	1496	$1,660	$1.11	5d	1	0.54mi
8818 Slumber Ln Converse, TX	3.0	2.0	1259	$1,700	$1.35	2d	1	0.58mi
8206 Talkenhorn Converse, TX	3.0	2.0	1584	$1,895	$1.20	24d	1	0.59mi
8206 Talkenhorn Converse, TX	3.0	2.0	1584	$1,595	$1.01	44d	1	0.59mi
6123 Ironmill Crk Converse, TX	3.0	2.0	1590	$1,595	$1.00	44d	1	0.59mi
8039 Sunshine Trail Dr San Antonio, TX	3.0	2.0	1774	$1,745	$0.98	5d	1	0.60mi
8827 Slumber Ln Converse, TX	3.0	2.0	1292	$2,000	$1.55	44d	1	0.60mi
7611 Overview Pl San Antonio, TX	3.0	2.0	1451	$1,750	$1.21	15d	1	0.63mi
8914 Kestrel Oak Converse, TX	3.0	2.5	1582	$1,600	$1.01	24d	1	0.69mi
8848 Staghorn Ml Converse, TX	3.0	2.0	1212	$1,500	$1.24	5d	1	0.69mi
6414 Kensinger Pass Converse, TX	3.0	2.5	1582	$2,100	$1.33	44d	1	0.70mi
6027 Kensinger Pass Converse, TX	3.0	2.0	1332	$1,480	$1.11	5d	1	0.70mi
8251 Sunshine Trail Dr San Antonio, TX	3.0	2.0	1627	$1,695	$1.04	24d	1	0.71mi
7135 Grassy Trl San Antonio, TX	3.0	2.0	1422	$2,000	$1.41	44d	1	0.73mi
6106 Secret Shrs San Antonio, TX	3.0	2.5	1698	$1,500	$0.88	24d	1	0.75mi
5736 Brook Pr San Antonio, TX	3.0	2.5	1497	$1,500	$1.00	24d	1	0.76mi
5735 Cool River Way San Antonio, TX	3.0–5.0	2.0–3.5	2059	$1,929	$0.94	2d	5	0.78mi
8003 Chestnut Manor Dr Converse, TX	3.0	2.0	1641	$1,795	$1.09	17d	1	0.79mi

HOA detail

• Monthly dues: $22 · $264/yr
• Likely covers: water

Listing history 3 events

1. 2026-05-06
   status Pending 1118-char remark
2. 2026-04-24
   listed $159,900 New 1118-char remark
3. 1996-10-01
   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: $3,440 · $287/mo
• Projected year-2 tax: $3,440 · $287/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 5/10 Major
• 🌡 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: $20,624
• − Mortgage interest: −$8,957
• − Property taxes: −$3,440
• − Insurance: −$800
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − HOA: −$264
• − Depreciation: −$4,652
• Taxable loss: −$788
• Est. tax savings @ 24.0%: +$189
• After-tax cash flow: $1,916/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 — Converse

• Score: 66/100
• State rank: #649
• US rank: #12250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bexar County · 1,990,555 people
• City population: 63,067
• 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

5 events — show timeline

• 2026-06-08 Sold (MLS) — LERA
• 2026-06-08 Sold (Public Records) — Public Records
• 2026-05-06 Pending — LERA
• 2026-04-24 Listed $159,900 LERA
• 1996-10-01 Sold (Public Records) — Public Records

Property tax history

+13.1%/yr

Latest (2025): $3,440 · +2.4% YoY. Source: county tax records.