431 Ward · San Antonio, TX 78223

$55,024

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 134 Days on market

Built 1954 6,751 sqft lot $55/sqft · 59% below area

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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
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

Key facts

• 6,751 sq ft lot
• Built 1954
• Listed 134 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% 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.
• 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.
• Zoned schools: Eloise Japhet Academy (math 9% / reading 18%, grade F, #4,138 of 4,322 statewide, top 96%, 770 students, 92% FRL); Brackenridge H S (math 12% / reading 25%, grade F, #1,436 of 1,632 statewide, top 88%, 1,568 students, 88% FRL).
• Market conditions: Rents falling (-3.4%/yr); 329 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $23k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1954 — 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 $48,421 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 2.61% ✓
• Cap rate: 19.48%
• Cash-on-cash: 47.10%
• DSCR: 3.10
• GRM: 3.2

CMA / ARV

• ARV (median comp): $132,653
• List price: $55,024
• Delta: -58.52%
• 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
442 Ward	0.03mi	2/1.0 (-1)	934 (-7%)	1mo	$143,800	$154	81
318 Chicago Blvd	0.31mi	2/1.0 (-1)	1,006 (-0%)	2mo	$110,000	$109	78
1306 Mckinley	0.69mi	2/1.0 (-1)	972 (-4%)	1mo	$110,000	$113	56
414 Kathy	0.63mi	3/2.0	946 (-6%)	2mo	$125,000	$132	55
1114 Halliday	0.59mi	2/2.5 (-1)	940 (-7%)	2mo	$174,900	$186	49
1115 Mckinley	0.61mi	2/1.0 (-1)	1,056 (+5%)	12mo	$144,900	$137	49
934 Schley	0.66mi	3/1.0	1,124 (+12%)	3mo	$99,900	$89	47
118 Maurine Dr	0.60mi	2/1.0 (-1)	950 (-6%)	15mo	$149,000	$157	44
910 Fair Ave	0.41mi	3/2.0	1,142 (+13%)	14mo	$260,000	$228	42
204 Pamela Dr	0.49mi	3/2.0	1,149 (+14%)	15mo	$104,900	$91	38
831 Mckinley	0.69mi	3/1.0	1,150 (+14%)	20mo	$147,500	$128	28
1023 Mckinley Ave	0.60mi	2/2.0 (-1)	872 (-14%)	15mo	$185,000	$212	28

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: 40.6%
• Equity multiple: 2.66×
• Total profit: $25,503
• Equity at exit: $8,204

10-year hold

• IRR: 45.2%
• Equity multiple: 4.63×
• Total profit: $55,990
• Equity at exit: $4,757

Cash invested: $15,407 (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 78223

• Home prices YoY: -16.4%
• Rents YoY: -3.4%
• Active inventory: 329
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$289
• Tax from tax record: −$219 /mo · $2,631/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $605

Break-even live

Break-even rent $672

Max offer price $55,024

Occupancy floor 53%

Sensitivity live

Price	-10% $793	-5% $774	+0% $605	+5% $589	+10% $574
Rent	-10% $491	-5% $548	+0% $605	+5% $662	+10% $718
Rate	-1.0pp $632	-0.5pp $619	base $605	+0.5pp $590	+1.0pp $576

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: $13,756
• Closing costs: $1,651
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
534 Chicago Blvd Unit NA San Antonio, TX	3.0	2.0	1250	$1,550	$1.24	19d	1	0.12mi
534 Chicago Blvd San Antonio, TX	3.0	2.0	1250	$1,550	$1.24	21d	1	0.12mi
134 Lilla Jean Dr San Antonio, TX	3.0	2.0	1349	$1,549	$1.15	0d	1	0.16mi
518 Topeka Blvd San Antonio, TX	3.0	2.0	1135	$1,375	$1.21	25d	1	0.18mi
232 Regina St Unit 1 San Antonio, TX	2.0	1.0	1085	$1,399	$1.29	4d	1	0.36mi
134 Ward Ave San Antonio, TX	2.0	1.0	1063	$1,150	$1.08	45d	1	0.40mi
1510 Steves Ave San Antonio, TX	3.0	2.0	1330	$1,800	$1.35	25d	1	0.47mi
1528 Steves Ave Unit 1 San Antonio, TX	2.0	1.0	940	$1,025	$1.09	45d	1	0.48mi
510 Vanderbilt St San Antonio, TX	2.0	1.0	1208	$1,150	$0.95	45d	1	0.51mi
1131 McKinley Ave San Antonio, TX	2.0	1.0	1000	$1,550	$1.55	6d	1	0.58mi
414 Stanfield Ave San Antonio, TX	3.0	1.0	1250	$1,300	$1.04	45d	1	0.63mi
2335 Nopal St Unit 108 San Antonio, TX	2.0	1.0	805	$975	$1.21	6d	1	0.65mi
515 Stratford Ct Unit NA San Antonio, TX	3.0	1.0	895	$1,550	$1.73	45d	1	0.67mi
142 Avant Ave #1 San Antonio, TX	3.0	1.0	1314	$1,495	$1.14	19d	1	0.75mi
220 Hansford St San Antonio, TX	3.0	2.0	1269	$1,600	$1.26	5d	1	0.77mi
1019 Steves Ave Unit 1 San Antonio, TX	2.0	1.0	800	$1,350	$1.69	6d	1	0.78mi
331 Avant Ave San Antonio, TX	3.0	2.0	1200	$1,825	$1.52	25d	1	0.79mi
523 Bailey Ave San Antonio, TX	2.0	2.0	960	$1,500	$1.56	25d	1	0.79mi
1914 S Pine St San Antonio, TX	2.0	1.0	1025	$1,250	$1.22	45d	1	0.88mi
656 Riverside Dr Unit 1 San Antonio, TX	3.0	1.0	800	$750	$0.94	6d	1	0.91mi
2407 S New Braunfels Ave Unit 3 San Antonio, TX	2.0	1.0	800	$825	$1.03	25d	1	0.92mi
2407 S New Braunfels Ave Unit 3 San Antonio, TX	2.0	1.0	800	$825	$1.03	45d	1	0.92mi
927 VFW Blvd Unit 710 San Antonio, TX	2.0	2.0	921	$932	$1.01	17d	1	0.93mi
927 Vfw Blvd San Antonio, TX	1.0–3.0	1.0–2.0	937	$1,280	$1.37	0d	29	0.95mi
1124 Vanderbilt St San Antonio, TX	3.0	1.0	1095	$1,350	$1.23	45d	1	0.95mi
439 Dunning Ave San Antonio, TX	2.0	2.0	1050	$1,500	$1.43	6d	1	0.95mi
508 Kayton Ave San Antonio, TX	2.0	1.0	1058	$1,200	$1.13	17d	1	0.97mi
2914 Roosevelt Ave San Antonio, TX	1.0–3.0	1.0–2.0	868	$1,469	$1.69	45d	1	0.98mi
1627 Schley Ave San Antonio, TX	3.0	1.0	1408	$1,650	$1.17	25d	1	0.99mi
2219 S New Braunfels Ave San Antonio, TX	2.0	1.0	952	$1,050	$1.10	25d	1	1.02mi
534 Rigsby Ave San Antonio, TX	3.0	2.0	1438	$1,950	$1.36	25d	1	1.05mi
329 Hot Wells Blvd Unit FRONT UNIT San Antonio, TX	2.0	1.0	756	$1,150	$1.52	0d	1	1.09mi
636 Rigsby Ave San Antonio, TX	3.0	1.0	1327	$1,595	$1.20	45d	1	1.10mi
242 Glamis Ave San Antonio, TX	4.0	2.0	1464	$1,900	$1.30	12d	1	1.13mi
1811 McKinley Ave San Antonio, TX	2.0	2.0	1248	$975	$0.78	4d	1	1.14mi
311 Glamis Ave San Antonio, TX	3.0	1.0	1100	$1,195	$1.09	0d	1	1.15mi
311 Glamis Ave Unit 2 San Antonio, TX	3.0	1.0	900	$1,395	$1.55	45d	1	1.15mi
311 Glamis Ave Unit 1 San Antonio, TX	3.0	2.0	1200	$1,395	$1.16	45d	1	1.15mi
204 E Dullnig Ct Unit 20 San Antonio, TX	2.0	1.0	750	$950	$1.27	23d	1	1.17mi
647 Hammond Ave San Antonio, TX	2.0	1.0	780	$1,110	$1.42	21d	1	1.20mi

Listing history 10 events

1. 2026-04-17
   price $55,024 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

2. 2026-04-17
   status Price Change 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

3. 2026-03-30
   historical 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

4. 2026-02-20
   price $65,010 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

5. 2026-02-20
   status Price Change 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

6. 2026-01-21
   historical 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

7. 2025-12-23
   price $69,900 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

8. 2025-11-20
   listed $78,000 New 383-char remark

   Show marketing remark (383 chars)

   Welcome to 431 Ward Ave - a 2-bed, 1-bath home full of potential. This property is ready for a new owner with vision. With solid bones and a functional layout, it's the perfect opportunity to customize, update, and create the home you've always imagined. Ideal for investors, flippers, or buyers looking to build equity. Don't miss your chance to make this charming home shine again.

9. 1997-11-17
   soldstatus $47,481
10. 1979-09-01
    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: $2,631 · $219/mo
• Projected year-2 tax: $2,631 · $219/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 ≥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: $17,248
• − Mortgage interest: −$3,082
• − Property taxes: −$2,631
• − Insurance: −$275
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$1,601
• Taxable income: $6,899
• Est. tax owed @ 24.0%: −$1,656
• After-tax cash flow: $5,601/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): 58,983
• Household income: $52,088
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 2809.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 28% White 16% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 67%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

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: ▼ -52.06%
• Current HPI: 265.2235
• Rent YoY: ▼ -3.36%
• 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

+15.9% since first listed

10 events — show timeline

• 2026-04-17 Price Changed $55,024 LERA
• 2026-04-17 Relisted — LERA
• 2026-03-30 Listing Removed — LERA
• 2026-02-20 Price Changed $65,010 LERA
• 2026-02-20 Relisted — LERA
• 2026-01-21 Listing Removed — LERA
• 2025-12-23 Price Changed $69,900 LERA
• 2025-11-20 Listed $78,000 LERA
• 1997-11-17 Sold (Public Records) $47,481 Public Records
• 1979-09-01 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $2,631 · +34.5% YoY. Source: county tax records.