8515 Glen Ct · Converse, TX 78239

$129,900

3 bd · 2.0 ba · 1,270 sqft · SingleFamily public records · 130 Days on market

Built 1974 7,274 sqft lot $102/sqft · 33% below area Est $195k · 33% under

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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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +7.3/10.0
• Schools +3.8/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single-story home located in The Glen Subdivision offering a prime investment opportunity. The property is in need of a full remodel, including roof, flooring, and interior updates, making it ideal for investors or buyers looking to customize their next home. Features include a double-wide driveway and a 2-car attached garage. Excellent chance to purchase at a competitive price and renovate to your vision. Property acquired through tax sale. Buyer to verify redemption rights. Title will be insured with exception to redemption period. Schedule your showing today!

Key facts

• Double-wide driveway
• Full remodel
• 7,274 sq ft lot

Tags

• FULL REMODEL
• DOUBLE-WIDE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.3% in Converse — 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 66/100 on livability (#649 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools C-, crime C-, amenities 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.
• Market conditions: Rents soft (-1.1%/yr); 213 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 $898 of loan paydown is wiped out by about $4k 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 130 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1974 — 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. 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: 1.23% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.15%
• DSCR: 1.36
• GRM: 6.8

CMA / ARV

• ARV (median comp): $195,209
• List price: $129,900
• Delta: -33.46%
• 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
6914 Glen Gate	0.07mi	3/2.0	1,376 (+8%)	12mo	$170,000	$124	73
7115 Whittney	0.24mi	3/2.0	1,209 (-5%)	10mo	$217,000	$179	72
8770 Ridge Mile	0.49mi	3/2.0	1,319 (+4%)	6mo	$162,000	$123	65
8435 Tuxford	0.22mi	3/2.0	1,452 (+14%)	2mo	$219,999	$152	64
9511 New World	0.66mi	3/2.0	1,256 (-1%)	5mo	$195,000	$155	63
9713 Sandy Ridge Way	0.68mi	3/2.0	1,234 (-3%)	2mo	$225,000	$182	62
7110 Glen Grv	0.74mi	3/2.0	1,226 (-4%)	6mo	$170,000	$139	55
8239 Glen Lark	0.59mi	3/1.0	1,188 (-6%)	5mo	$139,000	$117	54
7274 Montgomery Dr	0.67mi	4/2.0 (+1)	1,344 (+6%)	1mo	$199,864	$149	53
7207 Glen Pt	0.64mi	3/1.0	1,152 (-9%)	6mo	$99,000	$86	45
9717 Sandy Ridge Way	0.68mi	3/2.0	1,100 (-13%)	12mo	$205,000	$186	35
9741 Sandy Rdg	0.72mi	3/2.0	1,100 (-13%)	11mo	$199,500	$181	35

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: -7.6%
• Equity multiple: 0.73×
• Total profit: $-9,905
• Equity at exit: $19,369

10-year hold

• IRR: -2.9%
• Equity multiple: 0.83×
• Total profit: $-6,089
• Equity at exit: $11,231

Cash invested: $36,372 (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 78239

• Home prices YoY: -5.9%
• Rents YoY: -1.1%
• Active inventory: 213
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$681
• Tax from tax record: −$282 /mo · $3,380/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $247

Break-even live

Break-even rent $1,287

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $321	-5% $284	+0% $247	+5% $210	+10% $174
Rent	-10% $121	-5% $184	+0% $247	+5% $310	+10% $373
Rate	-1.0pp $312	-0.5pp $280	base $247	+0.5pp $213	+1.0pp $179

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9034 (15/16) Glen Shadow Dr San Antonio, TX	3.0	2.5	1225	$1,550	$1.27	3d	1	0.05mi
9034 (15/16) Glen Shadow Dr San Antonio, TX	3.0	2.5	1225	$1,400	$1.14	44d	1	0.05mi
6923 Glen Fair San Antonio, TX	4.0	2.5	1632	$1,725	$1.06	8d	1	0.08mi
9034 Glen Shadow Dr Unit 13 San Antonio, TX	3.0	2.5	1225	$1,645	$1.34	44d	1	0.29mi
9034 Glen Shadow Dr Unit 34 San Antonio, TX	3.0	2.5	1225	$1,645	$1.34	24d	1	0.29mi
9034 Glen Shadow Dr Unit 27 San Antonio, TX	3.0	2.5	1225	$1,550	$1.27	5d	1	0.29mi
6934 Crestway Rd #2 San Antonio, TX	3.0	2.5	1225	$1,435	$1.17	15d	1	0.31mi
6926 Crestway Rd San Antonio, TX	3.0	2.5	1325	$1,345	$1.02	44d	1	0.33mi
6918 Crestway Rd Unit 2 San Antonio, TX	3.0	2.5	1261	$1,435	$1.14	15d	1	0.36mi
6918 Crestway Rd Unit 4 San Antonio, TX	3.0	2.5	1225	$1,440	$1.18	15d	1	0.36mi
8778 Serene Ridge Dr San Antonio, TX	3.0	2.0	1664	$1,650	$0.99	22d	1	0.45mi
8778 Serene Ridge Dr San Antonio, TX	3.0	2.0	1664	$1,650	$0.99	44d	1	0.45mi
8318 Tuxford San Antonio, TX	4.0	2.0	1452	$1,700	$1.17	5d	1	0.46mi
8259 Montgomery Oak San Antonio, TX	3.0	2.0	1152	$1,250	$1.09	44d	5	0.46mi
9426 Apple Ridge Ln Unit 303 San Antonio, TX	3.0	2.5	1231	$1,400	$1.14	44d	1	0.51mi
9426 Apple Ridge Ln Unit 104 San Antonio, TX	3.0	2.5	1225	$1,495	$1.22	8d	1	0.51mi
7210 John Palmer Dr Unit 101 San Antonio, TX	3.0	2.5	1426	$1,700	$1.19	24d	1	0.51mi
7210 John Palmer Dr Unit 101 San Antonio, TX	3.0	2.5	1426	$1,650	$1.16	17d	1	0.51mi
9426 Apple Ridge Ln San Antonio, TX	3.0	2.5	1225	$1,350	$1.10	44d	1	0.51mi
9426 Apple Ridge Ln San Antonio, TX	3.0	2.5	1225	$1,495	$1.22	11d	1	0.51mi
8750 Shallow Ridge Dr San Antonio, TX	3.0	2.0	1538	$2,100	$1.37	24d	1	0.53mi
6607 Benhill San Antonio, TX	3.0	2.0	1318	$2,000	$1.52	22d	1	0.53mi
9426 Apple Ridge Ln Unit 503 San Antonio, TX	3.0	2.5	1225	$1,395	$1.14	5d	1	0.54mi
9426 Apple Ridge Ln Unit 503 San Antonio, TX	3.0	2.5	1225	$1,600	$1.31	15d	1	0.54mi
7138 Brecon San Antonio, TX	3.0	2.5	1276	$1,065	$0.83	44d	1	0.54mi
6733 Montgomery Dr San Antonio, TX	3.0	2.0	1150	$860	$0.75	44d	2	0.55mi
7347 Kitty Hawk Rd Converse, TX	1.0–4.0	1.0–2.0	990	$1,604	$1.62	5d	1	0.55mi
8350 Hastings San Antonio, TX	3.0	2.0	1247	$2,000	$1.60	44d	1	0.55mi
8742 Ridge Moon Dr San Antonio, TX	3.0	2.0	1350	$1,489	$1.10	3d	1	0.56mi
6811 Evercrest Ln San Antonio, TX	3.0	2.5	1582	$2,100	$1.33	24d	1	0.57mi
7239 Converse Ridge Ln Unit 703 Windcrest, TX	3.0	2.5	1225	$1,500	$1.22	24d	1	0.57mi
7239 Converse Ridge Ln Unit 603 Windcrest, TX	3.0	2.5	1225	$1,450	$1.18	13d	1	0.57mi
7331 Glen Hts San Antonio, TX	3.0	2.0	1184	$1,390	$1.17	24d	1	0.58mi
9535 Apple Ridge Ln San Antonio, TX	3.0	2.0	1602	$1,638	$1.02	4d	1	0.59mi
8310 Hastings San Antonio, TX	2.0	1.0	1315	$1,450	$1.10	24d	1	0.60mi
7923 Langport San Antonio, TX	3.0	2.0	1095	$1,800	$1.64	44d	1	0.61mi
6918 Stockport San Antonio, TX	3.0	2.0	1390	$1,050	$0.76	44d	1	0.63mi
8818 Bridington San Antonio, TX	3.0	2.0	1814	$2,100	$1.16	15d	1	0.63mi
8219 Glen Lark San Antonio, TX	4.0	2.0	1260	$1,250	$0.99	22d	1	0.64mi
7460 Kitty Hawk Rd Converse, TX	3.0	2.0	1456	$1,399	$0.96	44d	1	0.66mi

Listing history 18 events

1. 2026-06-21
   days on market $129,900 Active 130 DOM
2. 2026-06-18
   days on market $129,900 Active 127 DOM
3. 2026-06-17
   days on market $129,900 Active 126 DOM
4. 2026-06-16
   days on market $129,900 Active 125 DOM
5. 2026-06-13
   days on market $129,900 Active 122 DOM
6. 2026-06-13
   days on market $129,900 Active 121 DOM
7. 2026-06-09
   days on market $129,900 Active 118 DOM
8. 2026-06-08
   days on market $129,900 Active 117 DOM
9. 2026-06-07
   days on market $129,900 Active 116 DOM
10. 2026-06-04
    days on market $129,900 Active 113 DOM
11. 2026-06-03
    days on market $129,900 Active 112 DOM
12. 2026-06-02
    days on market $129,900 Active 111 DOM
13. 2026-06-01
    days on market $129,900 Active 110 DOM
14. 2026-05-31
    days on market $129,900 Active 109 DOM
15. 2026-02-11
    listed $129,900 New 568-char remark

    Show marketing remark (568 chars)

    Single-story home located in The Glen Subdivision offering a prime investment opportunity. The property is in need of a full remodel, including roof, flooring, and interior updates, making it ideal for investors or buyers looking to customize their next home. Features include a double-wide driveway and a 2-car attached garage. Excellent chance to purchase at a competitive price and renovate to your vision. Property acquired through tax sale. Buyer to verify redemption rights. Title will be insured with exception to redemption period. Schedule your showing today!

16. 2011-12-05
    soldstatus
17. 2008-12-02
    soldstatus
18. 2006-12-21
    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: $3,380 · $282/mo
• Projected year-2 tax: $3,380 · $282/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,201
• − Mortgage interest: −$7,276
• − Property taxes: −$3,380
• − Insurance: −$650
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$3,779
• Taxable income: $1,044
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $2,714/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: 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

Livability — Converse

• Score: 66/100
• State rank: #649
• US rank: #12250

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment B Housing A+ Health & safety F User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bexar County · 1,990,555 people
• City population: 63,067
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 28,609
• Household income: $70,098
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 488.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 30% Two or more races 20% Black 16% Asian 4% Pacific Islander 2%
• Hispanic origin (detail): Mexican 38% Puerto Rican 4%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 24% Vietnamese 1% Chinese 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: ▼ -15.13%
• Current HPI: 242.1272
• Rent YoY: ▼ -1.05%
• 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

• 2026-02-11 Listed $129,900 LERA
• 2011-12-05 Sold (Public Records) — Public Records
• 2008-12-02 Sold (Public Records) — Public Records
• 2006-12-21 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,380 · -1.0% YoY. Source: county tax records.