9927 Mather Way · San Antonio, TX 78109

$211,999

3 bd · 2.0 ba · 1,402 sqft · SingleFamily · 87 Days on market

Built 2024 Good condition 4,791 sqft lot $151/sqft · 9% below area Est $233k · 9% under $25/mo HOA · 1% of rent ↓ 11% since listing

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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).

• ARV discount +11.6/15.0
• Cash flow +9.9/30.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.1/10.0
• DSCR +2.8/10.0
• Rent growth +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion May 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
• Secondary bedrooms
• En-suite bathroom

Tags

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

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $212k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (18.8% below list).
• Recommended offer: $172k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: 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; 40 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 87 days — a 6% lower offer ($199k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $172,136 (18.8% 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 87 days. Have you received any prior offers? Is the seller open to a 19% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• GRM: 10.3

CMA / ARV

• ARV (median comp): $232,999
• List price: $211,999
• Delta: -9.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9927 Mather Way	0.00mi	3/2.0	1,402 (0%)	1mo	$211,999	$151	99
9931 Mather Way	0.01mi	3/2.0	1,411 (+1%)	1mo	$209,999	$149	98
9739 Abrams Vw	0.09mi	3/2.0	1,411 (+1%)	1mo	$223,999	$159	94
9919 Mather Way	0.01mi	4/2.0 (+1)	1,575 (+12%)	1mo	$227,999	$145	73
2068 Powell Pl	0.10mi	4/2.0 (+1)	1,575 (+12%)	1mo	$210,000	$133	69
9946 Mather Way	0.06mi	4/2.0 (+1)	1,600 (+14%)	1mo	$227,999	$142	67
10115 Monte Carmel Pl	0.66mi	3/2.0	1,424 (+2%)	1mo	$254,260	$179	66
10131 Monte Carmel Pl	0.66mi	3/2.0	1,424 (+2%)	1mo	$254,880	$179	65
10016 Besson Blvd	0.29mi	4/2.0 (+1)	1,575 (+12%)	1mo	$214,500	$136	60
10107 Monte Carmel Pl	0.67mi	3/2.0	1,276 (-9%)	1mo	$249,810	$196	53
10119 Monte Carmel Pl	0.66mi	3/2.0	1,576 (+12%)	1mo	$274,630	$174	48
10015 Monte Carmel Pl	0.67mi	3/2.0	1,576 (+12%)	1mo	$270,860	$172	47

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: -24.1%
• Equity multiple: 0.20×
• Total profit: $-47,649
• Equity at exit: $31,610

10-year hold

• IRR: -31.4%
• Equity multiple: -0.20×
• Total profit: $-71,498
• Equity at exit: $18,330

Cash invested: $59,360 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$1,112
• Tax est. 1.5%: −$265 /mo · $3,180/yr
• Insurance: −$88
• HOA: −$25
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-130

Break-even live

Break-even rent $1,886

Max offer price $193,158

Occupancy floor —

Sensitivity live

Price	-10% $16	-5% $-57	+0% $-130	+5% $-203	+10% $-277
Rent	-10% $-266	-5% $-198	+0% $-130	+5% $-62	+10% $6
Rate	-1.0pp $-23	-0.5pp $-76	base $-130	+0.5pp $-185	+1.0pp $-241

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2025 Palmer Pl Converse, TX	3.0	2.0	1340	$1,495	$1.12	24d	1	0.21mi
2016 Palmer Pl Converse, TX	4.0	2.0	1459	$1,595	$1.09	44d	1	0.23mi
2187 Schuwirth Rd Converse, TX	1.0–4.0	1.0–2.0	962	$1,667	$1.73	2d	1	0.56mi
10315 Monte Carmel Pl Converse, TX	3.0	2.0	1576	$1,670	$1.06	44d	1	0.70mi
10323 Monte Carmel Pl Converse, TX	3.0	2.0	1576	$1,615	$1.02	13d	1	0.70mi
2815 Charpak Dr Converse, TX	4.0	2.0	1627	$1,695	$1.04	4d	1	0.78mi
10313 Lassen Park Adkins, TX	3.0	2.5	1470	$1,925	$1.31	3d	1	0.79mi
2811 Gustavo Dr Converse, TX	3.0	2.0	1450	$1,750	$1.21	44d	1	0.79mi
2819 Gustavo Dr Converse, TX	3.0	2.0	1450	$1,500	$1.03	44d	1	0.81mi
2802 Stigler Dr Converse, TX	4.0	2.0	1627	$1,495	$0.92	5d	1	0.84mi
2822 Millikan Dr Converse, TX	3.0	2.0	1440	$1,650	$1.15	24d	1	0.85mi
2822 Millikan Dr Converse, TX	3.0	2.0	1450	$1,500	$1.03	13d	1	0.85mi
1411 Capitol Reef Adkins, TX	4.0	2.0	1566	$1,795	$1.15	2d	1	0.88mi
2906 Millikan Dr Converse, TX	4.0	2.0	1627	$1,525	$0.94	13d	1	0.88mi
1215 Vallarta Centro Converse, TX	4.0	2.5	1832	$1,875	$1.02	11d	1	0.90mi
10714 Giacconi Dr Converse, TX	4.0	2.0	1627	$1,550	$0.95	15d	1	0.98mi
3035 Selhurst St Converse, TX	3.0	2.0	1557	$1,800	$1.16	24d	1	1.00mi
10707 Giacconi Dr Converse, TX	3.0	2.0	1266	$1,686	$1.33	44d	1	1.01mi
2815 Armaan WAY Converse, TX	3.0	2.5	1401	$1,495	$1.07	2d	1	1.02mi
4398 W Vasquez Cir Unit 710 Converse, TX	2.0	2.0	1060	$1,388	$1.31	3d	1	1.04mi
10754 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,450	$1.15	24d	1	1.06mi
10755 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,536	$1.21	22d	1	1.09mi
3318 Carducci Dr Converse, TX	3.0	2.0	1276	$1,800	$1.41	44d	1	1.09mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1450	$1,410	$0.97	24d	1	1.12mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1440	$1,476	$1.02	22d	1	1.12mi
10406 Sedge Pl Converse, TX	3.0	2.5	1826	$2,100	$1.15	5d	1	1.16mi
11026 Yonder Flts Converse, TX	3.0	2.0	1525	$1,645	$1.08	3d	1	1.21mi
11030 Yonder Flts Converse, TX	3.0	2.5	1428	$1,500	$1.05	5d	1	1.21mi
2939 Gastonian Ml Converse, TX	3.0	2.0	1525	$1,495	$0.98	44d	1	1.28mi
2822 Praline Fry Converse, TX	3.0	2.0	1525	$1,645	$1.08	3d	1	1.28mi
3055 Jackson Smt Converse, TX	3.0	2.0	1525	$1,595	$1.05	44d	1	1.33mi
10606 Pablo Way Converse, TX	4.0	2.0	1667	$1,736	$1.04	5d	1	1.34mi
10690 Pablo Way Converse, TX	3.0	2.0	1207	$1,650	$1.37	44d	1	1.40mi
3130 Jackson Smt Converse, TX	3.0	2.5	1428	$1,885	$1.32	5d	1	1.41mi
10922 Chatham Ct Converse, TX	3.0	2.0	1525	$1,645	$1.08	24d	1	1.42mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	24d	1	1.43mi
10627 Erinita Way Converse, TX	3.0	2.0	1474	$1,466	$0.99	24d	1	1.43mi
4351 W Vasquez Cir Converse, TX	3.0	2.0	1652	$1,850	$1.12	20d	1	1.45mi
4611 East Loop 1604 N Unit 710 Converse, TX	2.0	2.0	900	$981	$1.09	3d	1	1.45mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	44d	1	1.49mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 5 events

1. 2026-05-02
   status Pending 543-char remark

   Show marketing remark (543 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion May 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.

2. 2026-04-29
   price $211,999 543-char remark

   Show marketing remark (543 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion May 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.

3. 2026-04-28
   price $216,999 543-char remark

   Show marketing remark (543 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion May 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.

4. 2026-04-21
   price $241,999 543-char remark

   Show marketing remark (543 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion May 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.

5. 2026-02-04
   listed $238,999 New 543-char remark

   Show marketing remark (543 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion May 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.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $20,656
• − Mortgage interest: −$11,875
• − Property taxes: −$3,180
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − HOA: −$300
• − Depreciation: −$6,167
• Taxable loss: −$5,231
• Est. tax savings @ 24.0%: +$1,255
• After-tax cash flow: $-307/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 · 12 photos

Good 80/100 Cosmetic rehab

This single-family home is in good condition with a modern and inviting open-concept floorplan. It has a good condition score and requires minimal repairs or maintenance. The highest-ROI updates include painting, updating the kitchen backsplash, adding smart home features, and upgrading the flooring in the bathrooms.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Resale Updating the kitchen backsplash — A fresh backsplash can add value to the kitchen and make it more appealing to potential buyers.
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and renters.
• Resale Upgrading the flooring in the bathrooms — Upgraded flooring can make the bathrooms more appealing and increase the home's value.
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract renters who value energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Resale Updating the kitchen backsplash — A fresh backsplash can add value to the kitchen and make it more appealing to potential buyers. ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and renters. ↑
• Resale Upgrading the flooring in the bathrooms — Upgraded flooring can make the bathrooms more appealing and increase the home's value. ↑
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract renters who value energy efficiency. ↑

ⓘ 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

Price history

-11.3% since first listed

5 events — show timeline

• 2026-05-02 Pending — LERA
• 2026-04-29 Price Changed $211,999 LERA
• 2026-04-28 Price Changed $216,999 LERA
• 2026-04-21 Price Changed $241,999 LERA
• 2026-02-04 Listed $238,999 LERA