231 Lansing Ln · San Antonio, TX 78207

$69,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 39 Days on market

Built 1955 6,838 sqft lot $80/sqft · 54% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

Come check out this great investment property, just minutes from downtown. This 2 bed, 1 bath, home is the perfect project. Nestled in an Established neighborhood, with wide streets, and mature trees. The lot is also zoned Multi-Family, endless opportunities with this one! Don't let it get away.

Key facts

• Zoned multi-family
• Investment property
• 6,838 sq ft lot

Tags

• INVESTMENT PROPERTY
• ESTABLISHED NEIGHBORHOOD
• ZONED MULTI-FAMILY

Property features AI

Finance

• Financial info: Down payment assistance not indicated

Exterior

• Utilities: City water and sewer
• Home design: Pre-owned single-family residence; Approximately 71 years old; Subdivision: CUPPLES/ZARZAMORA
• Construction: Vinyl siding exterior; Siding exterior; Composition roof; Slab foundation

Interior

• Kitchen: Kitchen approximately 10 x 10
• Bedrooms: Master bedroom on lower level, approximately 11 x 12; Second bedroom approximately 10 x 10
• Flooring: Other flooring (see remarks)
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Additional/other heating (see remarks); Other heating fuel (see remarks); Central air conditioning
• Interior features: All bedrooms located on the lower level; Single living area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: Sarah S King El (math 22% / reading 27%, grade F, #3,052 of 4,322 statewide, top 74%, 564 students, 98% FRL); Lanier H S (math 9% / reading 15%, grade F, #1,554 of 1,632 statewide, top 95%, 1,547 students, 97% FRL) — zoned schools average 97% FRL vs 80% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.7%/yr); 154 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $1,289/mo this rent would consume 48% of the median local household income ($32k/yr) (locally 2789% 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 $7k of equity ($477 loan paydown + $7k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 7.7% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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: 1.87% ✓
• Cap rate: 13.15%
• Cash-on-cash: 24.50%
• DSCR: 2.09
• GRM: 4.5

CMA / ARV

• ARV (median comp): $151,568
• List price: $69,000
• Delta: -54.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Lansing Ln	0.00mi	2/1.0	864 (0%)	1mo	$69,000	$80	100
347 Madero St	0.57mi	2/1.0	900 (+4%)	22mo	$140,000	$156	48
231 Madero St	0.69mi	2/1.0	823 (-5%)	24mo	$135,000	$164	40
1811 Paso Del Sur St	0.47mi	3/1.0 (+1)	989 (+14%)	17mo	$59,000	$60	35
3537 S Laredo St	0.74mi	3/1.0 (+1)	987 (+14%)	4mo	$104,999	$106	33

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 · 7.73% rent growth · sell at horizon

5-year hold

• IRR: 46.0%
• Equity multiple: 4.58×
• Total profit: $69,238
• Equity at exit: $62,161

10-year hold

• IRR: 42.1%
• Equity multiple: 11.36×
• Total profit: $200,114
• Equity at exit: $134,052

Cash invested: $19,320 (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 78207

• Home prices YoY: 15.2%
• Rents YoY: 7.7%
• Active inventory: 154
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$362
• Tax from tax record: −$233 /mo · $2,801/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $394

Break-even live

Break-even rent $790

Max offer price $69,000

Occupancy floor 64%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
843 Brady Blvd San Antonio, TX	3.0	2.0	864	$1,650	$1.91	23d	1	0.06mi
2003 S Zarzamora St San Antonio, TX	1.0–4.0	1.0–2.0	1028	$1,120	$1.09	23d	1	0.42mi
1938 S Zarzamora St Unit 610 San Antonio, TX	1.0	1.0	744	$915	$1.23	3d	1	0.47mi
1938 S Zarzamora St Unit 710 San Antonio, TX	2.0	2.0	955	$1,102	$1.15	3d	1	0.47mi
626 Kirk Pl San Antonio, TX	2.0	1.0	912	$1,100	$1.21	20d	1	0.67mi
319 Noria St San Antonio, TX	3.0	1.0	1002	$1,100	$1.10	23d	1	0.68mi
3103 Neptune St San Antonio, TX	3.0	2.0	1008	$1,350	$1.34	43d	1	0.72mi
2311 Potosi St San Antonio, TX	3.0	1.0	864	$1,600	$1.85	43d	1	0.78mi
1823 San Carlos St San Antonio, TX	3.0	2.0	1090	$1,099	$1.01	2d	1	0.88mi
450 Taft Blvd San Antonio, TX	3.0	1.0	883	$1,295	$1.47	43d	1	0.89mi
2812 Vera Cruz San Antonio, TX	1.0	2.0	1060	$1,200	$1.13	4d	1	0.97mi
329 Taft Blvd San Antonio, TX	2.0	2.0	862	$2,200	$2.55	1d	1	1.03mi
350 Barrett Pl San Antonio, TX	2.0	1.0	616	$1,225	$1.99	4d	1	1.05mi
2721 Colima St San Antonio, TX	2.0	1.0	700	$1,250	$1.79	14d	1	1.07mi
515 Humble Ave San Antonio, TX	1.0	1.0	700	$810	$1.16	43d	1	1.12mi
2406 S Laredo St San Antonio, TX	3.0	1.0	944	$1,200	$1.27	14d	1	1.16mi
150 Hearne San Antonio, TX	2.0	1.0	1044	$1,400	$1.34	23d	1	1.29mi
214 Aztec St San Antonio, TX	3.0	2.0	973	$1,275	$1.31	14d	1	1.41mi
310 Finton Unit A San Antonio, TX	1.0	1.0	960	$850	$0.89	43d	1	1.42mi

Listing history 7 events

1. 2026-06-01
   days on market $69,000 Active 39 DOM
2. 2026-05-31
   days on market $69,000 Active 38 DOM
3. 2026-04-23
   listed $69,000 New 297-char remark
4. 2026-04-17
   soldstatus
5. 2025-09-03
   soldstatus
6. 2025-09-03
   soldstatus
7. 2025-09-03
   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: $2,801 · $233/mo
• Projected year-2 tax: $2,801 · $233/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 · 22 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $15,469
• − Mortgage interest: −$3,865
• − Property taxes: −$2,801
• − Insurance: −$345
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,007
• Taxable income: $3,976
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $3,779/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): 55,474
• Household income: $32,472
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2789.0

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 41% White 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 79%
• Foreign-born: 19% · Canada
• Languages at home: 39% English-only · Spanish 60%

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: ▲ 34.92%
• Current HPI: 264.7559
• Rent YoY: ▲ 7.73%
• 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

7 events — show timeline

• 2026-06-03 Sold (Public Records) — Public Records
• 2026-06-01 Sold (MLS) — LERA
• 2026-04-23 Listed $69,000 LERA
• 2026-04-17 Sold (Public Records) — Public Records
• 2025-09-03 Sold (Public Records) — Public Records
• 2025-09-03 Sold (Public Records) — Public Records
• 2025-09-03 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,801 · -4.0% YoY. Source: county tax records.