302 Regina · San Antonio, TX 78223

$115,555

2 bd · 1.0 ba · 858 sqft · SingleFamily public records · 252 Days on market

Built 1928 6,651 sqft lot $135/sqft · 13% below area Est $133k · 13% under ↓ 11% since listing

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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 +13.3/15.0
• Cash flow +12.9/30.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 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

Multi Family Investment Opportunity in Southeast San Antonio! This property is the perfect opportunity for an investor or a first-time homebuyer. plenty of space to add a 3rd bedroom with a second full bath. The main home features 2 bedrooms and 1 bathroom - fully livable but ready for your personal touch and updates. In addition to the main house, there's a spacious garage with an apartment in the back, offering excellent rental or guest unit potential. Located in the growing Southeast San Antonio area, this property has tons of potential to become a beautiful and valuable home with the right improvements. Seller is open to all offers, so don't miss your chance to check it out!

Key facts

• Spacious garage
• 6,651 sq ft lot
• Garage

Tags

• RESIDENTIAL ZONED PROPERTY
• SPACIOUS GARAGE
• APARTMENT IN THE BACK
• EXCELLENT RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $-9 ($-106/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (0.1% below list).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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); Highlands H S (math 18% / reading 27%, grade F, #1,354 of 1,632 statewide, top 83%, 1,651 students, 92% 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 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 $799 of loan paydown is wiped out by about $3k 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 252 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,688 (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 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.00% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 8.3

CMA / ARV

• ARV (median comp): $132,576
• List price: $115,555
• Delta: -12.84%
• 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
334 Fairview	0.14mi	2/1.0	832 (-3%)	12mo	$130,000	$156	78
442 Ward	0.29mi	2/1.0	934 (+9%)	1mo	$143,800	$154	71
3714 S Olive St	0.17mi	2/1.0	780 (-9%)	12mo	$149,900	$192	67
306 Monticello	0.48mi	2/1.0	848 (-1%)	10mo	$90,000	$106	67
203 Sandra Dr	0.31mi	3/1.0 (+1)	868 (+1%)	20mo	$79,000	$91	62
919 Fair Ave	0.68mi	2/1.0	839 (-2%)	4mo	$107,500	$128	61
610 Mebane St	0.18mi	2/1.0	772 (-10%)	20mo	$150,000	$194	58
106 Regina St	0.17mi	3/2.0 (+1)	924 (+8%)	20mo	$120,000	$130	53
414 Kathy	0.59mi	3/2.0 (+1)	946 (+10%)	2mo	$125,000	$132	45
318 Uvalde	0.64mi	2/1.0	768 (-10%)	11mo	$90,000	$117	43
118 Maurine Dr	0.60mi	2/1.0	950 (+11%)	15mo	$149,000	$157	41
407 Wharton St	0.75mi	2/1.0	784 (-9%)	16mo	$95,000	$121	37

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: -20.7%
• Equity multiple: 0.30×
• Total profit: $-22,575
• Equity at exit: $17,230

10-year hold

• IRR: -24.7%
• Equity multiple: -0.02×
• Total profit: $-33,075
• Equity at exit: $9,991

Cash invested: $32,355 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$606
• Tax from tax record: −$266 /mo · $3,196/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-9

Break-even live

Break-even rent $1,165

Max offer price $114,000

Occupancy floor 96%

Sensitivity live

Price	-10% $57	-5% $24	+0% $-9	+5% $-42	+10% $-74
Rent	-10% $-100	-5% $-54	+0% $-9	+5% $37	+10% $82
Rate	-1.0pp $49	-0.5pp $21	base $-9	+0.5pp $-39	+1.0pp $-69

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: $28,889
• Closing costs: $3,467
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Regina St Unit 1 San Antonio, TX	2.0	1.0	1085	$1,399	$1.29	4d	1	0.04mi
134 Ward Ave San Antonio, TX	2.0	1.0	1063	$1,150	$1.08	45d	1	0.29mi
4115 S Presa St San Antonio, TX	1.0	1.0	700	$795	$1.14	45d	1	0.36mi
4115 S Presa St Unit 2 San Antonio, TX	1.0	1.0	700	$749	$1.07	16d	1	0.36mi
116 Kathy Dr San Antonio, TX	1.0	1.0	852	$1,125	$1.32	45d	1	0.38mi
2450 Roosevelt Ave San Antonio, TX	1.0	1.0	645	$1,442	$2.23	45d	8	0.45mi
515 Stratford Ct Unit NA San Antonio, TX	3.0	1.0	895	$1,550	$1.73	45d	1	0.56mi
656 Riverside Dr Unit 1 San Antonio, TX	3.0	1.0	800	$750	$0.94	6d	1	0.61mi
927 VFW Blvd Unit 610 San Antonio, TX	1.0	1.0	820	$842	$1.03	18d	1	0.62mi
927 VFW Blvd Unit 710 San Antonio, TX	2.0	2.0	921	$932	$1.01	18d	1	0.62mi
927 Vfw Blvd San Antonio, TX	1.0–3.0	1.0–2.0	937	$1,090	$1.16	0d	29	0.64mi
2914 Roosevelt Ave San Antonio, TX	1.0–3.0	1.0–2.0	868	$1,271	$1.46	45d	1	0.65mi
114 Glenwood Ct Unit 2 San Antonio, TX	1.0	1.0	600	$1,200	$2.00	0d	1	0.67mi
1528 Steves Ave Unit 1 San Antonio, TX	2.0	1.0	940	$1,025	$1.09	45d	1	0.80mi
116 Hot Wells Blvd Unit 3 San Antonio, TX	1.0	1.0	728	$1,050	$1.44	0d	1	0.83mi
1019 Steves Ave Unit 1 San Antonio, TX	2.0	1.0	800	$1,350	$1.69	6d	1	0.89mi
1131 McKinley Ave San Antonio, TX	2.0	1.0	1000	$1,550	$1.55	6d	1	0.89mi
2335 Nopal St Unit 108 San Antonio, TX	2.0	1.0	805	$975	$1.21	6d	1	0.91mi
329 Hot Wells Blvd Unit FRONT UNIT San Antonio, TX	2.0	1.0	756	$1,150	$1.52	0d	1	0.92mi
329 Hot Wells Blvd Unit R San Antonio, TX	1.0	1.0	800	$850	$1.06	25d	1	0.92mi
204 E Dullnig Ct Unit 3 San Antonio, TX	1.0	1.0	550	$750	$1.36	19d	1	0.96mi
204 E Dullnig Ct Unit 20 San Antonio, TX	2.0	1.0	750	$950	$1.27	23d	1	0.96mi
236 E Dullnig Ct San Antonio, TX	1.0	1.0	800	$899	$1.12	45d	1	1.03mi
236 E Dullnig Ct San Antonio, TX	1.0	1.0	850	$850	$1.00	4d	1	1.03mi
142 Avant Ave Unit 3 San Antonio, TX	1.0	1.0	700	$950	$1.36	45d	1	1.04mi
523 Bailey Ave San Antonio, TX	2.0	2.0	960	$1,500	$1.56	25d	1	1.12mi
827 Steves Ave San Antonio, TX	2.0	1.0	579	$750	$1.30	4d	1	1.13mi
827 Steves Ave #3 San Antonio, TX	2.0	1.0	579	$795	$1.37	25d	1	1.13mi
510 Avant Ave San Antonio, TX	1.0	1.0	956	$700	$0.73	5d	1	1.14mi
1506 Schley Ave San Antonio, TX	1.0	1.0	725	$850	$1.17	45d	1	1.17mi
1914 S Pine St San Antonio, TX	2.0	1.0	1025	$1,250	$1.22	45d	1	1.18mi
439 Dunning Ave San Antonio, TX	2.0	2.0	1050	$1,500	$1.43	6d	1	1.20mi
1124 Vanderbilt St San Antonio, TX	3.0	1.0	1095	$1,350	$1.23	45d	1	1.24mi
2407 S New Braunfels Ave Unit 3 San Antonio, TX	2.0	1.0	800	$825	$1.03	45d	1	1.25mi
2407 S New Braunfels Ave Unit 3 San Antonio, TX	2.0	1.0	800	$825	$1.03	25d	1	1.25mi
222 E Mitchell St San Antonio, TX	1.0–2.0	1.0–2.0	954	$1,825	$1.91	0d	17	1.29mi
508 Kayton Ave San Antonio, TX	2.0	1.0	1058	$1,200	$1.13	18d	1	1.29mi
311 Glamis Ave San Antonio, TX	3.0	1.0	1100	$1,195	$1.09	0d	1	1.29mi
311 Glamis Ave Unit 2 San Antonio, TX	3.0	1.0	900	$1,395	$1.55	45d	1	1.29mi
217 Castillo Ave Apt 3 San Antonio, TX	1.0	1.0	749	$1,000	$1.34	45d	1	1.29mi

Listing history 21 events

1. 2026-06-21
   days on market $115,555 Active 252 DOM
2. 2026-06-18
   days on market $115,555 Active 249 DOM
3. 2026-06-17
   days on market $115,555 Active 248 DOM
4. 2026-06-16
   days on market $115,555 Active 247 DOM
5. 2026-06-15
   days on market $115,555 Active 246 DOM
6. 2026-06-13
   days on market $115,555 Active 244 DOM
7. 2026-06-09
   days on market $115,555 Active 240 DOM
8. 2026-06-08
   days on market $115,555 Active 239 DOM
9. 2026-06-07
   days on market $115,555 Active 238 DOM
10. 2026-06-04
    days on market $115,555 Active 235 DOM
11. 2026-06-03
    days on market $115,555 Active 234 DOM
12. 2026-06-02
    days on market $115,555 Active 233 DOM
13. 2026-06-01
    days on market $115,555 Active 232 DOM
14. 2026-05-31
    days on market $115,555 Active 231 DOM
15. 2026-01-20
    listed $115,555 Back on Market 697-char remark

    Show marketing remark (697 chars)

    Multi Family Investment Opportunity in Southeast San Antonio! This property is the perfect opportunity for an investor or a first-time homebuyer. plenty of space to add a 3rd bedroom with a second full bath. The main home features 2 bedrooms and 1 bathroom - fully livable but ready for your personal touch and updates. In addition to the main house, there's a spacious garage with an apartment in the back, offering excellent rental or guest unit potential. Located in the growing Southeast San Antonio area, this property has tons of potential to become a beautiful and valuable home with the right improvements. Seller is open to all offers, so don't miss your chance to check it out!

16. 2026-01-16
    soldstatus Sold 697-char remark

    Show marketing remark (697 chars)

    Multi Family Investment Opportunity in Southeast San Antonio! This property is the perfect opportunity for an investor or a first-time homebuyer. plenty of space to add a 3rd bedroom with a second full bath. The main home features 2 bedrooms and 1 bathroom - fully livable but ready for your personal touch and updates. In addition to the main house, there's a spacious garage with an apartment in the back, offering excellent rental or guest unit potential. Located in the growing Southeast San Antonio area, this property has tons of potential to become a beautiful and valuable home with the right improvements. Seller is open to all offers, so don't miss your chance to check it out!

17. 2025-10-19
    price $115,555 697-char remark

    Show marketing remark (697 chars)

    Multi Family Investment Opportunity in Southeast San Antonio! This property is the perfect opportunity for an investor or a first-time homebuyer. plenty of space to add a 3rd bedroom with a second full bath. The main home features 2 bedrooms and 1 bathroom - fully livable but ready for your personal touch and updates. In addition to the main house, there's a spacious garage with an apartment in the back, offering excellent rental or guest unit potential. Located in the growing Southeast San Antonio area, this property has tons of potential to become a beautiful and valuable home with the right improvements. Seller is open to all offers, so don't miss your chance to check it out!

18. 2025-10-10
    price $120,500 697-char remark

    Show marketing remark (697 chars)

    Multi Family Investment Opportunity in Southeast San Antonio! This property is the perfect opportunity for an investor or a first-time homebuyer. plenty of space to add a 3rd bedroom with a second full bath. The main home features 2 bedrooms and 1 bathroom - fully livable but ready for your personal touch and updates. In addition to the main house, there's a spacious garage with an apartment in the back, offering excellent rental or guest unit potential. Located in the growing Southeast San Antonio area, this property has tons of potential to become a beautiful and valuable home with the right improvements. Seller is open to all offers, so don't miss your chance to check it out!

19. 2025-10-08
    listed $129,500 New 697-char remark

    Show marketing remark (697 chars)

    Multi Family Investment Opportunity in Southeast San Antonio! This property is the perfect opportunity for an investor or a first-time homebuyer. plenty of space to add a 3rd bedroom with a second full bath. The main home features 2 bedrooms and 1 bathroom - fully livable but ready for your personal touch and updates. In addition to the main house, there's a spacious garage with an apartment in the back, offering excellent rental or guest unit potential. Located in the growing Southeast San Antonio area, this property has tons of potential to become a beautiful and valuable home with the right improvements. Seller is open to all offers, so don't miss your chance to check it out!

20. 2022-02-24
    soldstatus
21. 1988-06-01
    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: $3,196 · $266/mo
• Projected year-2 tax: $3,196 · $266/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 · 20 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: $13,848
• − Mortgage interest: −$6,473
• − Property taxes: −$3,196
• − Insurance: −$578
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$3,362
• Taxable loss: −$1,976
• Est. tax savings @ 24.0%: +$474
• After-tax cash flow: $369/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

-10.8% since first listed

7 events — show timeline

• 2026-01-20 Listed $115,555 LERA
• 2026-01-16 Sold (MLS) — LERA
• 2025-10-19 Price Changed $115,555 LERA
• 2025-10-10 Price Changed $120,500 LERA
• 2025-10-08 Listed $129,500 LERA
• 2022-02-24 Sold (Public Records) — Public Records
• 1988-06-01 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,196 · +0.0% YoY. Source: county tax records.