106 Bank St #103 · San Antonio, TX 78204

$320,000

3 bd · 3.0 ba · 2,016 sqft · Townhouse · 218 Days on market

Built 2021 $159/sqft · 32% below area Est $468k · 32% under $83/mo HOA · 3% of rent ↓ 41% since listing

---

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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• Livability +4.0/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +1.6/10.0
• Schools +1.4/10.0

Listing remarks MLS

VA approved! Welcome to 106 Bank Street, a stunning three-story end unit townhome located in the heart of San Antonio's vibrant 78204 Lone Star Arts District. The first floor offers a versatile space that can serve as a guest suite, home office, or additional living area, complete with a full bathroom for convenience and privacy. Moving up to the main living level, you'll find an open-concept layout where the living and dining areas flow seamlessly into a stylish kitchen featuring an island, custom cabinetry, and upscale finishes perfect for entertaining or enjoying everyday family life. Natural light fills the space through large windows, creating an inviting and airy atmosphere. The second level also has a secondary bedroom and a full bathroom. The upper level is dedicated to the primary suite, a peaceful retreat with a private bath and generous closet space, providing comfort and privacy at the end of the day. Throughout the home, you'll find high ceilings, modern design touches, and abundant natural light, giving each space a bright and welcoming feel. The top level also offers a walk out fully turfed balcony/patio for outdoor living. A private one-car garage adds convenience, while the location offers easy access to downtown, restaurants, entertainment, and local amenities. Unit 103 at 106 Bank Street combines contemporary comfort, thoughtful design, and urban convenience, making it the ideal choice for anyone looking to enjoy elevated city living.

Key facts

• Large windows
• Private bath
• Stylish kitchen

Tags

• THREE STORY END UNIT
• GUEST SUITE
• OPEN CONCEPT LAYOUT
• STYLISH KITCHEN
• LARGE WINDOWS
• PRIVATE BATH

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $320k.

Deal economics

• At list price, monthly cash flow is $-395 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (24.9% below list).
• Recommended offer: $240k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.8% in San Antonio — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• 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.
• Market conditions: Rents soft (-1.4%/yr); 94 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $2,405/mo this rent would consume 48% of the median local household income ($60k/yr) (locally 545% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $240,463 (24.9% 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 218 days. Have you received any prior offers? Is the seller open to a 25% 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: 0.75% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.29%
• DSCR: 0.76
• GRM: 11.1

CMA / ARV

• ARV (median comp): $468,387
• List price: $320,000
• Delta: -31.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Bank St #201	0.00mi	3/3.5	2,016 (0%)	2mo	$345,000	$171	96
142 E Lachapelle	0.35mi	3/3.5	1,751 (-13%)	9mo	$329,000	$188	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.59×
• Total profit: $142,176
• Equity at exit: $288,281

10-year hold

• IRR: 17.5%
• Equity multiple: 5.75×
• Total profit: $426,015
• Equity at exit: $621,690

Cash invested: $89,600 (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 78204

• Home prices YoY: 6.4%
• Rents YoY: -1.4%
• Active inventory: 94
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,405 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• HOA: −$83
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $-395

Break-even live

Break-even rent $2,904

Max offer price $262,873

Occupancy floor —

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Forrest Ave San Antonio, TX	3.0	3.0	2202	$2,199	$1.00	20d	1	0.12mi
153 E Baylor St Unit 4 San Antonio, TX	2.0	1.0	2856	$1,000	$0.35	2d	1	0.22mi
153 E Baylor St Unit 3 San Antonio, TX	2.0	1.0	2856	$1,100	$0.39	4d	1	0.22mi
155 Oelkers San Antonio, TX	4.0	3.0	1500	$2,750	$1.83	3d	1	0.33mi
242 Cassiano St San Antonio, TX	3.0	3.5	2500	$3,350	$1.34	24d	1	0.36mi
216 E Fest St San Antonio, TX	3.0	3.0	1944	$2,300	$1.18	18d	1	0.40mi
415 Furnish Ave San Antonio, TX	3.0	2.0	1670	$1,995	$1.19	18d	1	0.40mi
530 Pruitt Ave San Antonio, TX	2.0	1.0	1976	$1,550	$0.78	24d	1	0.42mi
203 Nogalitos St #5 San Antonio, TX	3.0	2.5	1872	$3,100	$1.66	24d	1	0.52mi
326 Clay St San Antonio, TX	3.0	2.5	2295	$3,950	$1.72	24d	1	0.54mi
326 Clay St #102 San Antonio, TX	3.0	2.5	2295	$3,950	$1.72	18d	1	0.54mi
330 Clay St #24 San Antonio, TX	2.0	2.0	1424	$2,395	$1.68	12d	1	0.55mi
330 Clay St #28 San Antonio, TX	3.0	2.5	1670	$2,400	$1.44	44d	1	0.55mi
215 E Cevallos San Antonio, TX	3.0	1.0–3.0	1162	$3,010	$2.59	2d	20	0.62mi
314 W Cevallos Unit 1363386P San Antonio, TX	2.0	1.0	1969	$4,264	$2.17	12d	1	0.64mi
242 Drake Ave Unit 242 San Antonio, TX	3.0	2.0	1472	$1,700	$1.15	44d	1	0.74mi
939 S Frio St Unit 3294 San Antonio, TX	3.0	2.0	1737	$2,277	$1.31	3d	1	1.06mi
1011 S Frio St San Antonio, TX	3.0	1.0–3.0	1121	$2,195	$1.96	2d	32	1.08mi
227 Claudia St Unit 1 San Antonio, TX	2.0	1.5	1809	$3,500	$1.93	12d	1	1.09mi
227 Claudia St Unit 1 San Antonio, TX	2.0	1.5	1809	$3,500	$1.93	15d	1	1.09mi
321 King William San Antonio, TX	3.0	2.0	1530	$3,700	$2.42	24d	1	1.13mi
208 E Arsenal St Unit 1 San Antonio, TX	2.0	2.0	2320	$1,700	$0.73	4d	1	1.15mi
122 Biering St #2 San Antonio, TX	2.0	1.0	1472	$1,100	$0.75	44d	1	1.17mi
1519 S Presa St San Antonio, TX	3.0	3.5	1747	$3,200	$1.83	44d	1	1.20mi
215 Beauregard St Unit B San Antonio, TX	2.0	1.0	1434	$2,000	$1.39	44d	1	1.20mi
323 Thompson Pl San Antonio, TX	4.0	2.0	1600	$1,800	$1.12	44d	1	1.21mi
134 Gladstone St San Antonio, TX	2.0	1.0	1407	$1,000	$0.71	11d	1	1.30mi
228 Lotus Ave Unit 101 San Antonio, TX	3.0	3.5	1500	$1,800	$1.20	4d	1	1.30mi
228 Lotus Ave Unit 101 San Antonio, TX	3.0	2.0	1500	$1,850	$1.23	12d	1	1.30mi
228 Lotus St Unit 201 San Antonio, TX	3.0	2.0	1700	$1,900	$1.12	12d	1	1.30mi
228 Lotus St Unit 201 San Antonio, TX	3.0	3.5	1500	$1,850	$1.23	3d	1	1.30mi
154 Octavia Pl San Antonio, TX	4.0	2.0	1468	$1,650	$1.12	16d	1	1.40mi
311 Refugio St #101 San Antonio, TX	3.0	2.5	1556	$3,200	$2.06	18d	1	1.49mi
612 Leigh St San Antonio, TX	4.0	3.0	2357	$4,000	$1.70	44d	1	1.49mi

HOA detail

• Monthly dues: $83 · $996/yr

Listing history 23 events

1. 2026-06-18
   days on market $320,000 Active 218 DOM
2. 2026-06-17
   days on market $320,000 Active 217 DOM
3. 2026-06-16
   days on market $320,000 Active 216 DOM
4. 2026-06-15
   days on market $320,000 Active 215 DOM
5. 2026-06-13
   days on market $320,000 Active 213 DOM
6. 2026-06-09
   days on market $320,000 Active 209 DOM
7. 2026-06-08
   days on market $320,000 Active 208 DOM
8. 2026-06-07
   days on market $320,000 Active 207 DOM
9. 2026-06-04
   days on market $320,000 Active 204 DOM
10. 2026-06-03
    days on market $320,000 Active 203 DOM
11. 2026-06-02
    days on market $320,000 Active 202 DOM
12. 2026-06-01
    statusdays on market $320,000 Active 201 DOM
13. 2026-05-31
    days on market $320,000 Price Change 200 DOM
14. 2026-04-09
    price $324,500 1477-char remark

    Show marketing remark (1477 chars)

    VA approved! Welcome to 106 Bank Street, a stunning three-story end unit townhome located in the heart of San Antonio's vibrant 78204 Lone Star Arts District. The first floor offers a versatile space that can serve as a guest suite, home office, or additional living area, complete with a full bathroom for convenience and privacy. Moving up to the main living level, you'll find an open-concept layout where the living and dining areas flow seamlessly into a stylish kitchen featuring an island, custom cabinetry, and upscale finishes perfect for entertaining or enjoying everyday family life. Natural light fills the space through large windows, creating an inviting and airy atmosphere. The second level also has a secondary bedroom and a full bathroom. The upper level is dedicated to the primary suite, a peaceful retreat with a private bath and generous closet space, providing comfort and privacy at the end of the day. Throughout the home, you'll find high ceilings, modern design touches, and abundant natural light, giving each space a bright and welcoming feel. The top level also offers a walk out fully turfed balcony/patio for outdoor living. A private one-car garage adds convenience, while the location offers easy access to downtown, restaurants, entertainment, and local amenities. Unit 103 at 106 Bank Street combines contemporary comfort, thoughtful design, and urban convenience, making it the ideal choice for anyone looking to enjoy elevated city living.

15. 2026-01-03
    price $325,000 1477-char remark

    Show marketing remark (1477 chars)

    VA approved! Welcome to 106 Bank Street, a stunning three-story end unit townhome located in the heart of San Antonio's vibrant 78204 Lone Star Arts District. The first floor offers a versatile space that can serve as a guest suite, home office, or additional living area, complete with a full bathroom for convenience and privacy. Moving up to the main living level, you'll find an open-concept layout where the living and dining areas flow seamlessly into a stylish kitchen featuring an island, custom cabinetry, and upscale finishes perfect for entertaining or enjoying everyday family life. Natural light fills the space through large windows, creating an inviting and airy atmosphere. The second level also has a secondary bedroom and a full bathroom. The upper level is dedicated to the primary suite, a peaceful retreat with a private bath and generous closet space, providing comfort and privacy at the end of the day. Throughout the home, you'll find high ceilings, modern design touches, and abundant natural light, giving each space a bright and welcoming feel. The top level also offers a walk out fully turfed balcony/patio for outdoor living. A private one-car garage adds convenience, while the location offers easy access to downtown, restaurants, entertainment, and local amenities. Unit 103 at 106 Bank Street combines contemporary comfort, thoughtful design, and urban convenience, making it the ideal choice for anyone looking to enjoy elevated city living.

16. 2025-11-12
    listed $339,999 New 1477-char remark

    Show marketing remark (1477 chars)

    VA approved! Welcome to 106 Bank Street, a stunning three-story end unit townhome located in the heart of San Antonio's vibrant 78204 Lone Star Arts District. The first floor offers a versatile space that can serve as a guest suite, home office, or additional living area, complete with a full bathroom for convenience and privacy. Moving up to the main living level, you'll find an open-concept layout where the living and dining areas flow seamlessly into a stylish kitchen featuring an island, custom cabinetry, and upscale finishes perfect for entertaining or enjoying everyday family life. Natural light fills the space through large windows, creating an inviting and airy atmosphere. The second level also has a secondary bedroom and a full bathroom. The upper level is dedicated to the primary suite, a peaceful retreat with a private bath and generous closet space, providing comfort and privacy at the end of the day. Throughout the home, you'll find high ceilings, modern design touches, and abundant natural light, giving each space a bright and welcoming feel. The top level also offers a walk out fully turfed balcony/patio for outdoor living. A private one-car garage adds convenience, while the location offers easy access to downtown, restaurants, entertainment, and local amenities. Unit 103 at 106 Bank Street combines contemporary comfort, thoughtful design, and urban convenience, making it the ideal choice for anyone looking to enjoy elevated city living.

17. 2024-02-02
    historical
18. 2023-12-27
    price $425,000
19. 2023-11-01
    price $459,000
20. 2023-08-31
    price $499,000
21. 2023-08-31
    price $500,000
22. 2023-08-04
    price $525,000
23. 2023-07-18
    listed $550,000 New

ⓘ 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: $28,856
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,308
• − Management: −$2,308
• − HOA: −$996
• − Depreciation: −$9,309
• Taxable loss: −$10,391
• Est. tax savings @ 24.0%: +$2,494
• After-tax cash flow: $-2,244/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): 11,983
• Household income: $60,255
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 545.0

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 (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 37% White 15% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 74%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 50% English-only · Spanish 49%

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: ▲ 14.91%
• Current HPI: 249.0597
• Rent YoY: ▼ -1.44%
• 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

-41.0% since first listed

10 events — show timeline

• 2026-04-09 Price Changed $324,500 LERA
• 2026-01-03 Price Changed $325,000 LERA
• 2025-11-12 Listed $339,999 LERA
• 2024-02-02 Listing Removed — LERA
• 2023-12-27 Price Changed $425,000 LERA
• 2023-11-01 Price Changed $459,000 LERA
• 2023-08-31 Price Changed $499,000 LERA
• 2023-08-31 Price Changed $500,000 LERA
• 2023-08-04 Price Changed $525,000 LERA
• 2023-07-18 Listed $550,000 LERA