11331 Evergreen Rose · San Antonio, TX 78109

$202,999

4 bd · 2.0 ba · 1,483 sqft · SingleFamily · 56 Days on market

Built 2026 Good condition 4,791 sqft lot Est $209k · at est. $69/mo HOA · 4% 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).

• Cash flow +12.9/30.0
• ARV discount +8.8/15.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• DSCR +3.9/10.0
• Rent growth +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

The Hoffman - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location at the front of the home, complemented by an en-suite bathroom and walk-in closet. There are three secondary bedrooms just off the main living areas. Estimated Completion August 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open floorplan
• En-suite bathroom

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• THREE SECONDARY BEDROOMS

Property features AI

Finance

• Financial info: List price $204,999

Exterior

• Parking: 2-car garage (2 parking spaces total)
• Home design: Single-family home, Hoffman plan; Spec inventory (new construction)
• Construction: Living area approximately 1,483; Built as part of new construction inventory
• Exterior features: Property located at 11331 Evergreen Rose, Converse TX 78109

Interior

• Kitchen: Includes standard appliances
• Bedrooms: 4 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Open living area
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $203k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-14 ($-167/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (9.1% below list).
• Recommended offer: $185k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: schools C-, crime F.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $6k 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 56 days — a 3% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,549 (9.1% 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 56 days. Have you received any prior offers? Is the seller open to a 9% 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: 0.91% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $209,103
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11525 Cinnamon Rose	0.14mi	4/2.0	1,483 (0%)	2mo	$208,999	$141	92
11545 Cinnamon Rose	0.11mi	4/2.0	1,500 (+1%)	2mo	$169,999	$113	91
11537 Chestnut Rose	0.15mi	4/2.0	1,500 (+1%)	5mo	$185,499	$124	87
11553 Cinnamon Rose	0.10mi	3/2.0 (-1)	1,380 (-7%)	1mo	$164,999	$120	78
11723 Evergreen Rose	0.02mi	4/3.0	1,657 (+12%)	1mo	$236,999	$143	75
11533 Cinnamon Rose	0.13mi	3/2.0 (-1)	1,354 (-9%)	2mo	$196,999	$145	73
11513 Cinnamon Rose	0.16mi	3/2.0 (-1)	1,354 (-9%)	2mo	$198,999	$147	72
11711 Evergreen Rose	0.08mi	4/3.0	1,657 (+12%)	2mo	$227,999	$138	71
11639 Evergreen Rose	0.08mi	4/3.0	1,657 (+12%)	2mo	$236,999	$143	71
11541 Cinnamon Rose	0.12mi	4/2.5	1,692 (+14%)	1mo	$224,999	$133	68
1863 Musk Rose	0.28mi	3/2.0 (-1)	1,402 (-6%)	7mo	$205,999	$147	67
2207 Camellia Rose	0.18mi	4/2.5	1,692 (+14%)	2mo	$218,999	$129	64

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: -20.3%
• Equity multiple: 0.31×
• Total profit: $-39,121
• Equity at exit: $30,268

10-year hold

• IRR: -22.5%
• Equity multiple: 0.02×
• Total profit: $-55,825
• Equity at exit: $17,552

Cash invested: $56,840 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,845 high
• Mortgage (P&I): −$1,065
• Tax est. 1.5%: −$254 /mo · $3,045/yr
• Insurance: −$85
• HOA: −$69
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-14

Break-even live

Break-even rent $1,863

Max offer price $200,981

Occupancy floor 96%

Sensitivity live

Price	-10% $126	-5% $56	+0% $-14	+5% $-84	+10% $-154
Rent	-10% $-160	-5% $-87	+0% $-14	+5% $59	+10% $132
Rate	-1.0pp $88	-0.5pp $38	base $-14	+0.5pp $-67	+1.0pp $-120

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: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11602 Dog Rose Converse, TX	3.0	2.0	1354	$1,650	$1.22	24d	1	0.29mi
4611 E 1604 N Converse, TX	2.0–4.0	2.0	1112	$1,499	$1.35	2d	1	0.62mi
11151 Hollinger Cir Converse, TX	4.0	2.5	1859	$1,705	$0.92	24d	1	0.98mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1709	$1,950	$1.14	22d	1	0.99mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1689	$1,950	$1.15	2d	1	0.99mi
3106 Drayton Ests Converse, TX	2.0–5.0	2.0–3.5	1733	$2,293	$1.32	2d	1	1.04mi
2822 Praline Fry Converse, TX	3.0	2.0	1525	$1,645	$1.08	3d	1	1.04mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	24d	1	1.04mi
11030 Yonder Flts Converse, TX	3.0	2.5	1428	$1,500	$1.05	5d	1	1.08mi
11026 Yonder Flts Converse, TX	3.0	2.0	1525	$1,645	$1.08	3d	1	1.09mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	44d	1	1.12mi
10922 Chatham Ct Converse, TX	3.0	2.0	1525	$1,645	$1.08	24d	1	1.20mi
2939 Gastonian Ml Converse, TX	3.0	2.0	1525	$1,495	$0.98	44d	1	1.21mi
2815 Armaan WAY Converse, TX	3.0	2.5	1401	$1,495	$1.07	2d	1	1.31mi
3318 Carducci Dr Converse, TX	3.0	2.0	1276	$1,800	$1.41	44d	1	1.42mi
3130 Jackson Smt Converse, TX	3.0	2.5	1428	$1,885	$1.32	5d	1	1.42mi
3055 Jackson Smt Converse, TX	3.0	2.0	1525	$1,595	$1.05	44d	1	1.42mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1440	$1,476	$1.02	22d	1	1.46mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1450	$1,410	$0.97	24d	1	1.46mi
2802 Stigler Dr Converse, TX	4.0	2.0	1627	$1,495	$0.92	5d	1	1.48mi

HOA detail

• Monthly dues: $69 · $828/yr

Listing history 13 events

1. 2026-06-18
   days on market $202,999 Active 56 DOM
2. 2026-06-17
   days on market $202,999 Active 55 DOM
3. 2026-06-16
   days on market $202,999 Active 54 DOM
4. 2026-06-15
   statusdays on market $202,999 Active 53 DOM
5. 2026-06-13
   days on market $202,999 Price Change 51 DOM
6. 2026-06-09
   days on market $202,999 Price Change 47 DOM
7. 2026-06-08
   days on market $202,999 Price Change 46 DOM
8. 2026-06-07
   days on market $202,999 Price Change 45 DOM
9. 2026-06-04
   pricestatusdays on market $202,999 Price Change 42 DOM
10. 2026-06-03
    days on market $204,999 Active 41 DOM
11. 2026-06-02
    days on market $204,999 Active 40 DOM
12. 2026-06-01
    days on market $204,999 Active 39 DOM
13. 2026-05-31
    days on market $204,999 Active 38 DOM

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

Taxation est. · year 1

• Rental income: $22,146
• − Mortgage interest: −$11,371
• − Property taxes: −$3,045
• − Insurance: −$1,015
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − HOA: −$828
• − Depreciation: −$5,905
• Taxable loss: −$3,562
• Est. tax savings @ 24.0%: +$855
• After-tax cash flow: $688/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.

Condition & rehab AI · 5 photos

Good 80/100 None rehab

This single-level home showcases a spacious open floorplan with modern finishes and a clean, well-maintained exterior. It is ready for move-in and offers a good return on investment with minor updates for increased value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Updating the flooring in the kitchen and bathrooms — Modern flooring improves functionality and appearance.
• Both Upgrading the kitchen appliances — Newer appliances increase functionality and appeal to potential buyers/renters.
• Both Adding smart home features — Smart home technology enhances convenience and adds value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the kitchen and bathrooms — Modern flooring improves functionality and appearance. ↑
• Both Upgrading the kitchen appliances — Newer appliances increase functionality and appeal to potential buyers/renters. ↑
• Both Adding smart home features — Smart home technology enhances convenience and adds value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 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