811 S General Mcmullen Dr · San Antonio, TX 78237

$315,000

4 bd · 4.0 ba · 2,699 sqft · MultiFamily public records · 46 Days on market

Built 1960 4,573 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

This commercially-zoned quadplex is fully occupied and bringing in $3,900/month in gross rents-crushing the 1 perc. rule and offering strong cash flow from day one. Zoned for commercial use, it allows the investor to rent to commercial tenants at high rates, increasing ROI. Just 2 miles from Our Lady of the Lake University and within walking distance to shops, parks, and amenities, it sits in a prime location with strong tenant demand. Expect consistent income and long-term app

Key facts

• 4,573 sq ft lot
• 4 parking spots
• Built 1960

Property features AI

Finance

• Other: Total of 4 units
• Financial info: Gross annual income: $46,800; Net operating income: $36,600; Annual operating expenses: $10,200; Operating expenses include maintenance and services; Unit rents: Unit 1 $800 (occupied), Unit 2 $1,100 (vacant), Unit 3 $800 (occupied), Unit 4 $1,400 (occupied); Vacancy rate: 8%
• HOA & community: Located in EMMA FREY AREA ED subdivision

Exterior

• Parking: Pad parking (one space assigned per unit)
• Utilities: City water and sewer; Other utility meters; Natural gas service
• Home design: 4-unit multifamily property; Approximate age: 66 years; Slab foundation; Composition roof
• Construction: Siding exterior; Slab foundation; Composition roof; Approximately 66 years old
• Exterior features: Patio slab; Siding exterior

Interior

• Kitchen: Unit 1: Oven/Stove, Refrigerator; Unit 2: Oven/Stove, Refrigerator; Unit 3: Oven/Stove, Dishwasher; Unit 4: Oven/Stove, Refrigerator
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom; Unit 3: 2 bedrooms; Unit 4: 2 bedrooms
• Flooring: Ceramic tile flooring
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath; Unit 3: 1 full bath; Unit 4: 1 full bath
• Heating & cooling: Natural gas heating; Window unit heating; Window/Wall air conditioning; Other heating (see remarks)
• Interior features: Ceramic tile flooring
• Laundry & utility: Other utility meters

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $609/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $315k).
• Recommended offer: $306k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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: crime F.
• Edgewood ISD (urban): math 12% / reading 21% proficiency, ranked #812 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Las Palmas Leadership School For Girls (229 students, 91% FRL, charter); Gus Garcia Middle (math 13% / reading 20%, grade F, #1,536 of 1,662 statewide, top 93%, 505 students, 96% FRL, charter); John F Kennedy H S (math 17% / reading 18%, grade F, #1,451 of 1,632 statewide, top 89%, 1,042 students, 92% FRL) — zoned schools average 93% FRL vs 24% district-wide (69 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 140 active listings in the ZIP; lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $6,116/mo this rent would consume 172% of the median local household income ($43k/yr) (locally 1185% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.1% rent growth), your $88k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 9y 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: 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 $305,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.94% ✓
• Cap rate: 15.58%
• Cash-on-cash: 33.15%
• DSCR: 2.48
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.13% rent growth · sell at horizon

5-year hold

• IRR: 51.8%
• Equity multiple: 4.93×
• Total profit: $346,854
• Equity at exit: $283,777

10-year hold

• IRR: 46.8%
• Equity multiple: 11.72×
• Total profit: $945,555
• Equity at exit: $611,976

Cash invested: $88,200 (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 78237

• Home prices YoY: 14.1%
• Rents YoY: 6.1%
• Active inventory: 140
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $6,116 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$612 /mo · $7,339/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,284
• Net cashflow: $2,437

Break-even live

Break-even rent $3,031

Max offer price $315,000

Occupancy floor 55%

Sensitivity live

Price	-10% $2,615	-5% $2,526	+0% $2,437	+5% $2,348	+10% $2,259
Rent	-10% $1,954	-5% $2,195	+0% $2,437	+5% $2,678	+10% $2,920
Rate	-1.0pp $2,596	-0.5pp $2,517	base $2,437	+0.5pp $2,355	+1.0pp $2,272

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$6,116
Total (4 units)			$6,116

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $315,000 Active 46 DOM
2. 2026-06-21
   days on market $315,000 Active 45 DOM
3. 2026-06-18
   days on market $315,000 Active 43 DOM
4. 2026-06-17
   days on market $315,000 Active 42 DOM
5. 2026-06-16
   days on market $315,000 Active 41 DOM
6. 2026-06-15
   days on market $315,000 Active 40 DOM
7. 2026-06-13
   days on market $315,000 Active 38 DOM
8. 2026-06-12
   days on market $315,000 Active 37 DOM
9. 2026-06-09
   days on market $315,000 Active 34 DOM
10. 2026-06-08
    days on market $315,000 Active 33 DOM
11. 2026-06-08
    statusdays on market $315,000 Active 32 DOM
12. 2026-06-07
    days on market $315,000 Price Change 31 DOM
13. 2026-06-03
    days on market $315,000 Price Change 28 DOM
14. 2026-06-02
    days on market $315,000 Price Change 27 DOM
15. 2026-06-01
    days on market $315,000 Price Change 26 DOM
16. 2026-05-31
    remarks 482-char remark
17. 2026-05-31
    listed $315,000 Price Change 25 DOM

ⓘ 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: $7,339 · $612/mo
• Projected year-2 tax: $7,339 · $612/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,392
• − Mortgage interest: −$17,645
• − Property taxes: −$7,339
• − Insurance: −$1,575
• − Repairs & maintenance: −$5,871
• − Management: −$5,871
• − Depreciation: −$9,164
• Taxable income: $25,926
• Est. tax owed @ 24.0%: −$6,222
• After-tax cash flow: $23,020/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: Edgewood ISD
• NCES district ID: 4818150
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 21% ▼ -5.00%
• Median HH income: $27,419
• Composite: 12.82/100
• National rank: #9597
• State rank: #812 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): 37,379
• Household income: $42,772
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1185.0

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 (95%)
• Race & ethnicity: Hispanic / Latino 95% Two or more races 50% White 3% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 84%
• Foreign-born: 18% · Canada
• Languages at home: 34% English-only · Spanish 66%

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: ▲ 30.52%
• Current HPI: 247.7257
• Rent YoY: ▲ 6.13%
• 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

+26.0% since first listed

66 events — show timeline

• 2026-05-28 Price Changed $315,000 LERA
• 2026-05-07 Price Changed $700 SHOWMOJO
• 2026-05-06 Listed $325,000 LERA
• 2026-01-30 Listed for Rent $850 SHOWMOJO
• 2025-09-18 Listing Removed — LERA
• 2025-09-16 Relisted — LERA
• 2025-08-26 Contingent — LERA
• 2025-05-15 Price Changed $360,000 LERA
• 2025-05-02 Price Changed $380,000 LERA
• 2025-04-11 Relisted — LERA
• 2025-03-23 Listing Removed — LERA
• 2025-03-07 Price Changed $350,000 LERA
• 2025-02-19 Price Changed $380,000 LERA
• 2025-01-29 Price Changed $399,000 LERA
• 2025-01-23 Price Changed $410,000 LERA
• 2024-10-23 Listed $450,000 LERA
• 2024-09-23 Listing Removed — LERA
• 2024-09-11 Price Changed $439,000 LERA
• 2024-08-28 Listed $447,500 LERA
• 2023-07-13 Sold (Public Records) — Public Records
• 2023-07-13 Sold (Public Records) — Public Records
• 2023-05-26 Listing Removed — LERA
• 2023-05-08 Relisted — LERA
• 2023-05-03 Contingent — LERA
• 2023-04-07 Price Changed $379,999 LERA
• 2023-04-04 Relisted — LERA
• 2023-03-30 Sold (Public Records) — Public Records
• 2023-03-17 Pending — LERA
• 2023-03-14 Contingent — LERA
• 2023-03-08 Relisted — LERA
• 2023-02-19 Pending — LERA
• 2023-01-26 Listed $385,000 LERA
• 2022-10-06 Listing Removed — LERA
• 2022-09-13 Listing Removed — LERA
• 2022-09-08 Price Changed $399,000 LERA
• 2022-09-08 Price Changed $399,000 LERA
• 2022-08-31 Relisted — LERA
• 2022-08-31 Relisted — LERA
• 2022-08-06 Pending — LERA
• 2022-08-05 Pending — LERA
• 2022-08-02 Contingent — LERA
• 2022-08-02 Contingent — LERA
• 2022-07-23 Listed $412,000 LERA
• 2022-07-23 Listed $412,000 LERA
• 2022-07-07 Sold (MLS) — LERA
• 2022-07-06 Pending — LERA
• 2022-07-02 Relisted — LERA
• 2022-05-20 Sold (Public Records) — Public Records
• 2022-05-19 Sold (Public Records) — Public Records
• 2022-04-26 Pending — LERA
• 2022-04-09 Price Changed $340,000 LERA
• 2022-03-31 Listed $299,950 LERA
• 2021-10-08 Pending — LERA
• 2021-10-07 Contingent — LERA
• 2021-10-07 Listing Removed — LERA
• 2021-09-16 Listed $325,000 LERA
• 2020-12-15 Sold (Public Records) — Public Records
• 2018-06-15 Sold (MLS) — LERA
• 2018-06-11 Pending — LERA
• 2018-05-18 Relisted — LERA
• 2018-05-09 Listing Removed — LERA
• 2018-05-08 Relisted — LERA
• 2018-04-27 Listing Removed — LERA
• 2018-01-21 Price Changed $199,000 LERA
• 2017-08-21 Price Changed $230,000 LERA
• 2017-04-27 Listed $250,000 LERA

Property tax history

+8.4%/yr

Latest (2025): $7,339 · -1.2% YoY. Source: county tax records.