13918 Llama Pl

San Antonio, TX 78252

$178,000D+

2 bd · 1.0 ba · 741 sqft · Built 2022 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,465/mo
• Mortgage (P&I): −$933
• Tax + insurance: −$168
• HOA: −$60
• Vac / Maint / Mgmt: −$308
• Net cashflow: $-5/mo
• Annual: $-54/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• 1% rule: 0.82%
• Cash to close: $49,840

Investor read

• This is a 2-bed/1.0-bath single-family listed at $178k. Condition is rated good.
• At list price, monthly cash flow is $-5 ($-54/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (17.7% below list).
• It's been on market 38 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (17.7% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($1k loan paydown + $-3 appreciation (-0.0% local appreciation)).
• 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.
• Medina Valley ISD (rural): math 48% / reading 53% proficiency, ranked #148 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lacoste El (math 38% / reading 42%, grade F, #1,514 of 4,322 statewide, top 36%, 744 students, 69% FRL); Medina Valley H S (math 34% / reading 55%, grade F, #652 of 1,632 statewide, top 43%, 2,147 students, 51% FRL).
• Market conditions: Rents soft (-1.7%/yr); 537 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 2y 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.
• 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.
• Cap rate 6.3% 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.

Questions for listing agent

• 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?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.