4046 Harrisburg Cv

San Antonio, TX 78211

$190,999D-

3 bd · 2.0 ba · 1,266 sqft · Built 2026 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,552/mo
• Mortgage (P&I): −$1,002
• Tax + insurance: −$318
• HOA: −$25
• Vac / Maint / Mgmt: −$326
• Net cashflow: $-119/mo
• Annual: $-1,430/yr
• Cap rate: 5.54%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• 1% rule: 0.81%
• Cash to close: $53,480

Investor read

• This is a 3-bed/2.0-bath single-family listed at $191k. Condition is rated fair.
• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (18.8% below list).
• It's been on market 16 days — a 2% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (18.8% below list) — sets the bar for 1% rule.
• In year one you build about $462 of equity ($1k loan paydown + $-858 appreciation (-0.5% local appreciation)).
• 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.
• South San Antonio ISD (urban): math 13% / reading 20% proficiency, ranked #804 of 826 in TX (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 162 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $23k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.5% 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.
• This rent runs 34% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.