403 N San Felipe · San Antonio, TX 78228

$70,000

1 bd · 1.0 ba · 576 sqft · SingleFamily public records · 108 Days on market

Built 1940 5,749 sqft lot

---

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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Location, Location, Location! Discover the incredible potential of this fixer-upper corner lot, ideally situated just steps away from a reputable school! This property offers not just a house, but a canvas for your dreams to take shape. Perfect for first-time homebuyers, savvy investors, or anyone looking to create their own slice of paradise in a thriving community. Buyer to verify schools

Key facts

• 5,749 sq ft lot
• Built 1940
• Listed 108 days

Property features AI

Finance

• Financial info: Down payment assistance resources available
• HOA & community: Subdivision: LOMA AREA 2 ED

Exterior

• Utilities: Water system; Sewer system; Natural gas available
• Home design: Pre-owned property; Approximate age: 86 years
• Construction: Cedar post foundation; Composition roof
• Exterior features: Siding exterior

Interior

• Kitchen: Stove/Range; Eat-in kitchen (11 x 9)
• Bedrooms: Master bedroom on lower level (11 x 11); Second bedroom (8 x 12)
• Flooring: Linoleum flooring
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Other heating (see remarks); Other air conditioning (see remarks)
• Interior features: Ceiling fans; Some window coverings remain; Eat-in kitchen; One living area
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Edgewood ISD (urban): math 12% / reading 21% proficiency, ranked #812 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Roosevelt El (math 8% / reading 17%, grade F, #4,180 of 4,322 statewide, top 97%, 305 students, 95% FRL); Memorial H S (math 22% / reading 29%, grade F, #1,246 of 1,632 statewide, top 77%, 872 students, 92% FRL) — zoned schools average 93% FRL vs 24% district-wide (69 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 91 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $484 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 + 4.9% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($64k) 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: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.38% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.36×
• Total profit: $7,003
• Equity at exit: $10,437

10-year hold

• IRR: 19.7%
• Equity multiple: 2.81×
• Total profit: $35,460
• Equity at exit: $6,052

Cash invested: $19,600 (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 78228

• Home prices YoY: -22.1%
• Rents YoY: 4.9%
• Active inventory: 91
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $965 high
• Mortgage (P&I): −$367
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $258

Break-even live

Break-even rent $639

Max offer price $70,000

Occupancy floor 68%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2426 Cincinnati Ave San Antonio, TX	2.0	1.0	700	$975	$1.39	23d	1	0.88mi
2503 Arbor Pl San Antonio, TX	2.0	1.0	750	$800	$1.07	43d	1	0.91mi
2331 Cincinnati Ave Unit 2345 04 San Antonio, TX	1.0	1.0	750	$900	$1.20	3d	1	0.96mi
2331 Cincinnati Ave San Antonio, TX	1.0–3.0	1.0	850	$900	$1.06	12d	3	0.98mi
1218 NW 23rd St Unit 2 San Antonio, TX	1.0	10.5	548	$950	$1.73	23d	1	1.12mi
3301 W Woodlawn Ave San Antonio, TX	1.0–2.0	1.0	825	$682	$0.83	23d	3	1.23mi
2825 W Woodlawn Ave Unit 2825-WW San Antonio, TX	2.0	1.0	700	$1,195	$1.71	3d	1	1.25mi
102 E Cheryl Dr San Antonio, TX	1.0	1.0	515	$785	$1.52	16d	3	1.41mi
102 E Cheryl Dr #2 San Antonio, TX	1.0	1.0	600	$800	$1.33	43d	1	1.42mi
1171 Bandera Rd San Antonio, TX	1.0–2.0	1.0	750	$800	$1.07	23d	5	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $70,000 Active 108 DOM
2. 2026-06-17
   days on market $70,000 Active 107 DOM
3. 2026-06-16
   days on market $70,000 Active 106 DOM
4. 2026-06-15
   days on market $70,000 Active 105 DOM
5. 2026-06-14
   status $70,000 Active 103 DOM
6. 2026-06-13
   days on market $70,000 Price Change 103 DOM
7. 2026-06-12
   days on market $70,000 Price Change 102 DOM
8. 2026-06-09
   days on market $70,000 Price Change 99 DOM
9. 2026-06-08
   days on market $70,000 Price Change 98 DOM
10. 2026-06-08
    days on market $70,000 Price Change 97 DOM
11. 2026-06-07
    days on market $70,000 Price Change 96 DOM
12. 2026-06-04
    pricestatus $70,000 Price Change 93 DOM
13. 2026-06-03
    days on market $80,000 Active 93 DOM
14. 2026-06-02
    days on market $80,000 Active 92 DOM
15. 2026-06-01
    days on market $80,000 Active 91 DOM
16. 2026-05-31
    remarks 394-char remark
17. 2026-05-31
    listed $80,000 Active 90 DOM

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,299 · $108/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 ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,580
• − Mortgage interest: −$3,921
• − Property taxes: −$1,299
• − Insurance: −$350
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$2,036
• Taxable income: $2,120
• Est. tax owed @ 24.0%: −$509
• After-tax cash flow: $2,585/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: Edgewood ISD
• NCES district ID: 4818150
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 21% ▼ -5.00%
• Median HH income: $27,419
• Composite: 12.82/100
• National rank: #9597
• State rank: #812 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): 56,165
• Household income: $52,976
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 2709.0

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 (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 43% White 8% Black 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 46% English-only · Spanish 53% Other Indo-European 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: ▼ -74.04%
• Current HPI: 261.1558
• Rent YoY: ▲ 4.92%
• 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

1 event — show timeline

• 2026-03-02 Listed $80,000 LERA

Property tax history

+3.5%/yr

Latest (2025): $1,299 · +10.0% YoY. Source: county tax records.