Pima Plan · San Antonio, TX 78223

$164,999

3 bd · 2.5 ba · 1,360 sqft · SingleFamily · 169 Days on market

Excellent condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Condition / age +5.0/5.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Cash flow +3.0/30.0
• Rent growth +1.7/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Wellton Collection is a new series of single-family homes in the Grace Gardens masterplan in San Antonio, TX, offering affordable new home options with a variety of floorplan designs. Residents will enjoy proximity to Loop 410 for easy access to local shopping, dining and entertainment options. Outdoor recreation is a short drive away on Calaveras Lake, and the community is located near Brooks City Base, perfect for military families and personnel.

Key facts

• Outdoor recreation
• Calaveras lake
• Garage

Tags

• GRACE GARDENS MASTERPLAN
• PROXIMITY TO LOOP 410
• OUTDOOR RECREATION
• CALAVERAS LAKE
• NEAR BROOKS CITY BASE

🏗️ New construction. The $164,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $355,770.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $165k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (0.1% below list).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 2.4% vs local median 3.8% in San Antonio — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• North East ISD (urban): math 38% / reading 49% proficiency, ranked #276 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Grove El (math 17% / reading 37%, grade F, #2,791 of 4,322 statewide, top 68%, 389 students, 88% FRL); Garner Middle (math 17% / reading 30%, grade F, #1,317 of 1,662 statewide, top 80%, 804 students, 83% FRL); Macarthur H S (math 31% / reading 51%, grade F, #774 of 1,632 statewide, top 49%, 2,055 students, 58% FRL) — zoned schools average 77% FRL vs 41% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 44% district-wide (-13 pts) — the specific schools serving this property underperform the North East ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.4%/yr); 397 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 38d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 38% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 169 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $145,199 (12.0% 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 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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: 0.46% ✗
• Cap rate: 2.39%
• Cash-on-cash: -13.93%
• DSCR: 0.38
• GRM: 18.0

CMA / ARV

• ARV (median comp): $355,770
• List price: $164,999
• Delta: -53.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2918 Chisholm Trl	0.22mi	3/2.0	1,282 (-6%)	3mo	$299,000	$233	75
3626 Highcliff Dr	0.75mi	3/2.0	1,307 (-4%)	0mo	$218,000	$167	56
8523 Sagebrush	0.60mi	3/2.0	1,476 (+8%)	1mo	$269,900	$183	55
271 Middlebury	0.70mi	3/1.0	1,332 (-2%)	8mo	$170,000	$128	51
8715 Oak Ledge	0.58mi	3/2.0	1,511 (+11%)	12mo	$359,000	$238	43

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: -45.8%
• Equity multiple: -0.37×
• Total profit: $-136,126
• Equity at exit: $53,046

10-year hold

• IRR: —
• Equity multiple: -1.33×
• Total profit: $-231,964
• Equity at exit: $30,760

Cash invested: $99,616 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 9 under contract
• Months of supply: 4.2 mo (24%/mo absorbed)
• Median asking: $249,900 ($187/sqft)
• Median days on market: 160 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +39.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78223

• Home prices YoY: -16.4%
• Rents YoY: -3.4%
• Active inventory: 397
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,648 high
• Mortgage (P&I): −$1,866
• Tax est. 1.5%: −$445 /mo · $5,337/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-1,157

Break-even live

Break-even rent $3,112

Max offer price $188,392

Occupancy floor —

Sensitivity live

Price	-10% $-911	-5% $-1,034	+0% $-1,157	+5% $-1,280	+10% $-1,403
Rent	-10% $-1,287	-5% $-1,222	+0% $-1,157	+5% $-1,092	+10% $-1,027
Rate	-1.0pp $-978	-0.5pp $-1,066	base $-1,157	+0.5pp $-1,249	+1.0pp $-1,343

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: $88,942
• Closing costs: $10,673
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
451 Oak Glen Dr San Antonio, TX	3.0	2.0	1843	$3,850	$2.09	9d	1	0.42mi
8315 N Vandiver Rd San Antonio, TX	1.0–2.0	1.0–2.0	851	$1,330	$1.56	16d	1	0.43mi
1983 Oakwell Farms Pkwy Unit 710 San Antonio, TX	2.0	2.0	1018	$1,159	$1.14	23d	1	0.47mi
1422 NE Loop 410 San Antonio, TX	1.0–2.0	1.0–2.0	959	$1,165	$1.21	51d	8	0.50mi
8555 Laurens Ln San Antonio, TX	1.0–2.0	1.0–2.0	892	$1,359	$1.52	9d	46	0.50mi
8555 Laurens Ln Unit 710 San Antonio, TX	2.0	2.0	1073	$1,373	$1.28	60d	1	0.53mi
414 Laramie Dr San Antonio, TX	3.0	2.0	1760	$2,295	$1.30	73d	1	0.53mi
515 Cave Ln San Antonio, TX	3.0	2.0	1741	$2,350	$1.35	9d	1	0.59mi
515 Cave Ln San Antonio, TX	3.0	2.0	1741	$2,500	$1.44	37d	1	0.59mi
8702 Village Dr #1306 San Antonio, TX	3.0	2.0	1200	$2,500	$2.08	93d	1	0.64mi
2714 Nacogdoches Rd San Antonio, TX	3.0	1.0	1186	$1,500	$1.26	27d	1	0.66mi
3270 Nacogdoches Rd San Antonio, TX	1.0–2.0	1.0–2.0	712	$1,150	$1.62	52d	1	0.67mi
33 Lynn Batts Ln San Antonio, TX	1.0–3.0	1.0–2.0	1040	$1,877	$1.80	9d	26	0.67mi
2935 Nacogdoches Rd San Antonio, TX	1.0–2.0	1.0–2.0	998	$1,300	$1.30	93d	2	0.68mi
407 Haverford Dr San Antonio, TX	4.0	2.0	1412	$1,600	$1.13	52d	1	0.74mi
123 Westchester Dr San Antonio, TX	2.0	2.0	1337	$1,795	$1.34	29d	1	0.75mi
2811 Woodbury St #201 San Antonio, TX	2.0	1.5	982	$995	$1.01	13d	1	0.76mi
2811 Woodbury Dr #403 San Antonio, TX	2.0	1.5	982	$1,099	$1.12	23d	1	0.76mi
2803 Woodbury St San Antonio, TX	1.0–2.0	1.0–2.0	825	$950	$1.15	57d	1	0.78mi
2803 Woodbury St San Antonio, TX	1.0–2.0	1.0–2.0	837	$975	$1.16	9d	11	0.78mi
2606 Country Square St San Antonio, TX	3.0	2.5	1804	$2,500	$1.39	73d	1	0.80mi
231 Middlebury Dr San Antonio, TX	3.0	2.0	1321	$2,100	$1.59	93d	1	0.81mi
3216 Urban Crest Dr San Antonio, TX	2.0	1.0	930	$1,650	$1.77	67d	1	0.82mi
8623 Starcrest Dr Apt X8 San Antonio, TX	2.0	1.0	1082	$1,175	$1.09	11d	1	0.82mi
8623 Starcrest Dr Unit X07 San Antonio, TX	2.0	1.0	1082	$1,225	$1.13	64d	1	0.82mi
8623 Starcrest Dr Apt X1 San Antonio, TX	2.0	2.0	1453	$1,549	$1.07	52d	1	0.82mi
8623 Starcrest Dr Apt Y8 San Antonio, TX	2.0	2.0	1325	$1,349	$1.02	52d	1	0.82mi
8623 Starcrest Dr Unit Q01 San Antonio, TX	2.0	2.0	1292	$1,249	$0.97	47d	1	0.82mi
8623 Starcrest Dr Unit P05 San Antonio, TX	2.0	1.0	986	$1,099	$1.11	52d	1	0.82mi
8623 Starcrest Dr Unit X05 San Antonio, TX	2.0	2.0	1873	$1,699	$0.91	47d	1	0.82mi
8623 Starcrest Dr Unit W11 San Antonio, TX	2.0	2.0	1453	$1,549	$1.07	46d	1	0.82mi
8623 Starcrest Dr Unit I03 San Antonio, TX	2.0	2.0	1292	$1,249	$0.97	46d	1	0.82mi
8623 Starcrest Dr Apt X2 San Antonio, TX	2.0	2.0	1325	$1,349	$1.02	35d	1	0.82mi
8623 Starcrest Dr Unit 710 San Antonio, TX	2.0	2.0	1292	$1,365	$1.06	35d	1	0.82mi
8623 Starcrest Dr Apt W10 San Antonio, TX	3.0	2.0	1453	$1,699	$1.17	16d	1	0.82mi
8623 Starcrest Dr Unit X11 San Antonio, TX	2.0	2.0	1453	$1,549	$1.07	16d	1	0.82mi
8623 Starcrest Dr Unit J02 San Antonio, TX	2.0	2.0	1292	$1,375	$1.06	16d	1	0.82mi
8623 Starcrest Dr Unit A02 San Antonio, TX	3.0	2.0	1453	$1,699	$1.17	11d	1	0.82mi
8623 Starcrest Dr Unit 218 San Antonio, TX	2.0	2.0	1292	$1,390	$1.08	11d	1	0.82mi
8623 Starcrest Dr Unit 314 San Antonio, TX	3.0	2.0	1453	$1,974	$1.36	9d	1	0.82mi

Listing history 50 events

1. 2026-08-08
   days on market $164,999 Active 169 DOM
2. 2026-08-06
   days on market $164,999 Active 167 DOM
3. 2026-08-05
   days on market $164,999 Active 166 DOM
4. 2026-08-04
   days on market $164,999 Active 165 DOM
5. 2026-08-03
   days on market $164,999 Active 164 DOM
6. 2026-07-31
   days on market $164,999 Active 161 DOM
7. 2026-07-30
   days on market $164,999 Active 159 DOM
8. 2026-07-28
   days on market $164,999 Active 158 DOM
9. 2026-07-26
   pricedays on market $164,999 Active 156 DOM
10. 2026-07-24
    days on market $165,999 Active 154 DOM
11. 2026-07-23
    days on market $165,999 Active 153 DOM
12. 2026-07-22
    days on market $165,999 Active 152 DOM
13. 2026-07-21
    days on market $165,999 Active 151 DOM
14. 2026-07-20
    days on market $165,999 Active 150 DOM
15. 2026-07-18
    days on market $165,999 Active 148 DOM
16. 2026-07-18
    days on market $165,999 Active 147 DOM
17. 2026-07-16
    days on market $165,999 Active 146 DOM
18. 2026-07-15
    days on market $165,999 Active 145 DOM
19. 2026-07-14
    days on market $165,999 Active 144 DOM
20. 2026-07-13
    days on market $165,999 Active 143 DOM
21. 2026-07-13
    days on market $165,999 Active 142 DOM
22. 2026-07-12
    price $165,999 Active 141 DOM
23. 2026-07-11
    days on market $166,999 Active 141 DOM
24. 2026-07-10
    days on market $166,999 Active 140 DOM
25. 2026-07-09
    days on market $166,999 Active 139 DOM
26. 2026-07-07
    days on market $166,999 Active 137 DOM
27. 2026-07-06
    days on market $166,999 Active 136 DOM
28. 2026-07-05
    days on market $166,999 Active 135 DOM
29. 2026-07-03
    days on market $166,999 Active 133 DOM
30. 2026-07-02
    days on market $166,999 Active 132 DOM
31. 2026-07-01
    days on market $166,999 Active 131 DOM
32. 2026-06-30
    days on market $166,999 Active 130 DOM
33. 2026-06-29
    days on market $166,999 Active 129 DOM
34. 2026-06-28
    days on market $166,999 Active 128 DOM
35. 2026-06-27
    days on market $166,999 Active 127 DOM
36. 2026-06-26
    days on market $166,999 Active 126 DOM
37. 2026-06-24
    days on market $166,999 Active 124 DOM
38. 2026-06-22
    days on market $166,999 Active 122 DOM
39. 2026-06-21
    days on market $166,999 Active 121 DOM
40. 2026-06-18
    days on market $166,999 Active 118 DOM
41. 2026-06-17
    days on market $166,999 Active 117 DOM
42. 2026-06-16
    days on market $166,999 Active 116 DOM
43. 2026-06-13
    days on market $166,999 Active 113 DOM
44. 2026-06-13
    days on market $166,999 Active 112 DOM
45. 2026-06-09
    days on market $166,999 Active 109 DOM
46. 2026-06-08
    days on market $166,999 Active 108 DOM
47. 2026-06-07
    days on market $166,999 Active 107 DOM
48. 2026-06-04
    days on market $166,999 Active 104 DOM
49. 2026-06-03
    days on market $166,999 Active 103 DOM
50. 2026-06-02
    pricedays on market $166,999 Active 102 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: $19,776
• − Mortgage interest: −$19,929
• − Property taxes: −$5,337
• − Insurance: −$1,779
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$10,350
• Taxable loss: −$20,782
• Est. tax savings @ 24.0%: +$4,988
• After-tax cash flow: $-8,893/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 · 1 photo

Excellent 100/100 None rehab

This single-family home in San Antonio, TX, is in excellent condition with no visible repairs or maintenance needed. It offers a new home experience with modern amenities and a prime location.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Oak Grove El F TX #2,791/4,322 Nat'l #28,475/41,679 Middle Garner Middle F TX #1,317/1,662 Nat'l #10,902/14,009 High Macarthur H S F TX #774/1,632 Nat'l #7,961/17,239

Schools (NCES district)

• District: North East ISD
• NCES district ID: 4832940
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $57,715
• Composite: 38.1/100
• National rank: #4276
• State rank: #276 of 826 in TX

A Composite livability gradescore 80/100

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 · 2,336,851 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: 18% of renters

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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%

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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%

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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

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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

-0.6% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $167,999 Zillow
• 2026-02-20 Listed $168,999 Zillow