215 Gulf · San Antonio, TX 78202

$125,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 250 Days on market

Built 1940 2,308 sqft lot $145/sqft · 12% below area Est $142k · 12% under

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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 +17.8/30.0
• ARV discount +13.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.6/10.0
• 1% rule +4.9/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Great Investment Opportunity for INVESTORS!! Could be a duplex and or one house. One side of the house has 1 bedroom, 1 bath and kitchen. Other side as well.

Key facts

• 2,308 sq ft lot
• Built 1940
• Listed 250 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (1.2% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.

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.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 196 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 31% 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 $13k of equity ($864 loan paydown + $12k 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 + 8.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, 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 250 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.52%
• DSCR: 1.16
• GRM: 8.4

CMA / ARV

• ARV (median comp): $142,360
• List price: $125,000
• Delta: -12.19%
• 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
1607 Hays	0.43mi	2/1.0	892 (+3%)	0mo	$145,000	$163	74
401 Canton	0.26mi	2/1.0	808 (-6%)	8mo	$65,000	$80	70
151 Canton	0.12mi	2/1.0	744 (-14%)	2mo	$130,000	$175	69
1531 Burnet	0.29mi	2/2.0	913 (+6%)	7mo	$215,000	$235	67
426 N Monumental St	0.31mi	2/1.5	960 (+11%)	2mo	$209,000	$218	63
122 Belmont	0.43mi	3/1.0 (+1)	902 (+4%)	6mo	$95,000	$105	63
1046 Paso Hondo	0.41mi	2/1.0	953 (+10%)	3mo	$140,000	$147	62
1206 Nolan	0.18mi	2/1.0	987 (+14%)	9mo	$145,000	$147	61
342 Canton	0.25mi	2/1.0	990 (+15%)	5mo	$130,000	$131	60
418 Muncey	0.42mi	2/1.0	936 (+8%)	8mo	$165,000	$176	60
632 Canton	0.60mi	2/1.0	920 (+6%)	10mo	$70,000	$76	54
121 Boston	0.49mi	2/1.0	752 (-13%)	7mo	$89,000	$118	50

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 3.32×
• Total profit: $81,167
• Equity at exit: $112,610

10-year hold

• IRR: 26.6%
• Equity multiple: 8.15×
• Total profit: $250,095
• Equity at exit: $242,848

Cash invested: $35,000 (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 78202

• Home prices YoY: 27.0%
• Rents YoY: 8.2%
• Active inventory: 196
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,235 high
• Mortgage (P&I): −$656
• Tax from tax record: −$165 /mo · $1,982/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $103

Break-even live

Break-even rent $1,105

Max offer price $125,000

Occupancy floor 87%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Saint John San Antonio, TX	2.0	1.0	943	$1,245	$1.32	44d	1	0.05mi
103 Saint Charles Unit NA San Antonio, TX	2.0	2.0	995	$1,300	$1.31	44d	1	0.10mi
155 Canton San Antonio, TX	2.0	2.0	1078	$1,250	$1.16	24d	1	0.11mi
1615 Nolan St San Antonio, TX	1.0	1.0	978	$1,200	$1.23	11d	1	0.18mi
1615 Nolan St Unit A San Antonio, TX	2.0	1.0	1066	$1,400	$1.31	11d	1	0.18mi
1619 Nolan St Unit B San Antonio, TX	2.0	1.0	600	$1,050	$1.75	24d	1	0.19mi
721 Potomac San Antonio, TX	1.0	1.0	914	$1,100	$1.20	24d	1	0.21mi
622 Potomac St San Antonio, TX	1.0	1.0	700	$975	$1.39	44d	1	0.22mi
620 Potomac San Antonio, TX	2.0	1.0	900	$1,050	$1.17	22d	1	0.22mi
2023 Beaver Ln San Antonio, TX	1.0	1.0	600	$960	$1.60	44d	1	0.23mi
438 Gulf St San Antonio, TX	2.0	1.0	799	$975	$1.22	15d	1	0.33mi
203 Gorman San Antonio, TX	1.0	1.0	578	$745	$1.29	44d	1	0.34mi
1101 Gibbs San Antonio, TX	3.0	1.0	1100	$1,345	$1.22	24d	1	0.37mi
1101 Gibbs San Antonio, TX	3.0	1.0	1100	$1,345	$1.22	15d	1	0.37mi
1323 Lamar St #1 San Antonio, TX	2.0	1.0	900	$999	$1.11	44d	1	0.43mi
1411 Lamar St San Antonio, TX	2.0	1.0	700	$1,125	$1.61	44d	1	0.45mi
1810 Burnet St San Antonio, TX	2.0	1.0	620	$1,045	$1.69	15d	1	0.48mi
146 Eross San Antonio, TX	2.0	1.0	696	$900	$1.29	16d	1	0.49mi
732 Lamar St Unit 1 San Antonio, TX	1.0	1.0	1100	$1,550	$1.41	44d	1	0.50mi
323 Gabriel Unit 1 201 San Antonio, TX	2.0	2.5	1000	$1,375	$1.38	44d	1	0.54mi
323 Gabriel San Antonio, TX	2.0	2.0	1000	$1,375	$1.38	24d	1	0.54mi
1617 E Commerce St San Antonio, TX	1.0	1.0	844	$814	$0.96	44d	1	0.55mi
308 Belmont San Antonio, TX	1.0	1.0	700	$850	$1.21	24d	1	0.58mi
210 Piedmont Ave Unit 101 San Antonio, TX	2.0	2.5	1050	$1,395	$1.33	44d	1	0.60mi
1017 N Mittman St San Antonio, TX	1.0	1.0	726	$910	$1.25	44d	1	0.61mi
639 Canton San Antonio, TX	2.0	1.0	1008	$1,295	$1.28	44d	1	0.62mi
628 Sherman Unit 2 San Antonio, TX	1.0	1.0	675	$995	$1.47	44d	1	0.65mi
313 Toledo San Antonio, TX	2.0	1.0	924	$1,400	$1.52	11d	1	0.67mi
118 Glorietta San Antonio, TX	1.0	1.0	913	$1,600	$1.75	4d	1	0.67mi
706 Canton San Antonio, TX	2.0	1.0	994	$1,545	$1.55	24d	1	0.68mi
1223 N Walters St Unit 610 San Antonio, TX	1.0	1.0	732	$877	$1.20	3d	1	0.68mi
1223 N Walters St Unit 710 San Antonio, TX	2.0	2.0	970	$1,047	$1.08	3d	1	0.68mi
1414 Gorman San Antonio, TX	2.0	1.0	900	$1,175	$1.31	44d	1	0.69mi
710 Poinsettia San Antonio, TX	2.0	1.0	708	$1,195	$1.69	44d	1	0.69mi
630 Montana St Unit 202 San Antonio, TX	1.0	1.0	969	$1,950	$2.01	24d	1	0.69mi
630 Montana St Unit 201 San Antonio, TX	1.0	1.5	1060	$1,950	$1.84	44d	1	0.69mi
2118 Burnet St San Antonio, TX	3.0	2.0	1008	$1,650	$1.64	3d	1	0.72mi
1205 Wyoming St San Antonio, TX	2.0	2.0	1114	$2,300	$2.06	44d	1	0.72mi
1510 Gorman San Antonio, TX	2.0	1.0	996	$1,300	$1.31	18d	1	0.73mi
1218 Wyoming St Unit 1 San Antonio, TX	1.0	1.0	744	$1,299	$1.75	44d	1	0.75mi

Listing history 17 events

1. 2026-06-18
   days on market $125,000 Active 250 DOM
2. 2026-06-17
   days on market $125,000 Active 249 DOM
3. 2026-06-16
   days on market $125,000 Active 248 DOM
4. 2026-06-15
   days on market $125,000 Active 247 DOM
5. 2026-06-13
   days on market $125,000 Active 245 DOM
6. 2026-06-09
   days on market $125,000 Active 241 DOM
7. 2026-06-08
   days on market $125,000 Active 240 DOM
8. 2026-06-07
   days on market $125,000 Active 239 DOM
9. 2026-06-04
   days on market $125,000 Active 236 DOM
10. 2026-06-03
    days on market $125,000 Active 235 DOM
11. 2026-06-02
    days on market $125,000 Active 234 DOM
12. 2026-06-01
    days on market $125,000 Active 233 DOM
13. 2026-05-31
    days on market $125,000 Active 232 DOM
14. 2025-10-11
    listed $125,000 New 158-char remark

    Show marketing remark (158 chars)

    Great Investment Opportunity for INVESTORS!! Could be a duplex and or one house. One side of the house has 1 bedroom, 1 bath and kitchen. Other side as well.

15. 2025-03-03
    soldstatus
16. 2025-03-03
    soldstatus
17. 1998-05-26
    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: $1,982 · $165/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$305/yr (+$25/mo · 15.4%)

ⓘ 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 ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,817
• − Mortgage interest: −$7,002
• − Property taxes: −$1,982
• − Insurance: −$625
• − Repairs & maintenance: −$1,185
• − Management: −$1,185
• − Depreciation: −$3,636
• Taxable loss: −$799
• Est. tax savings @ 24.0%: +$192
• After-tax cash flow: $1,424/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): 10,224
• Household income: $47,478
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 543.0

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 (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 28% White 17% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 57% Puerto Rican 1% Cuban 1%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 59% English-only · Spanish 41%

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: ▲ 53.82%
• Current HPI: 253.3196
• Rent YoY: ▲ 8.20%
• 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

4 events — show timeline

• 2025-10-11 Listed $125,000 LERA
• 2025-03-03 Sold (Public Records) — Public Records
• 2025-03-03 Sold (Public Records) — Public Records
• 1998-05-26 Sold (Public Records) — Public Records

Property tax history

+9.5%/yr

Latest (2025): $1,982 · +0.0% YoY. Source: county tax records.