Morrow Plan · San Antonio, TX 78224

$250,999

4 bd · 2.5 ba · 1,867 sqft · SingleFamily · 359 Days on market

↓ 6% since listing

---

Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Cash flow +3.4/30.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This new two-story home boasts a spacious and modern design. On the first floor, a flexible open-concept floorplan combines the kitchen, living and dining areas, and the luxurious owner's suite is tucked into a private rear corner with a spa-inspired bathroom and walk-in closet. On the second floor, three secondary bedrooms surround a versatile loft for convenient shared living.

Key facts

• Walk-in closet
• Versatile loft
• 2 garage spots

Tags

• OPEN-CONCEPT FLOORPLAN
• SPA-INSPIRED BATHROOM
• WALK-IN CLOSET
• VERSATILE LOFT

🏗️ New construction. The $250,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $390,803.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $251k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (24.4% below list).
• Recommended offer: $190k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 2.6% vs local median 3.8% in San Antonio — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Southwest ISD (rural): math 21% / reading 31% proficiency, ranked #701 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 274 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).
• This rent runs 38% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $39k 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 ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 359 days — a 12% lower offer ($221k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,673 (24.4% 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 359 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.49% ✗
• Cap rate: 2.60%
• Cash-on-cash: -13.19%
• DSCR: 0.41
• GRM: 17.2

CMA / ARV

• ARV (median comp): $390,803
• List price: $250,999
• Delta: -35.77%
• 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
10315 Bluegill Way	0.42mi	3/2.0 (-1)	1,896 (+2%)	1mo	$248,999	$131	70
1435 Leticia Gln	0.48mi	4/3.0	1,795 (-4%)	0mo	$267,999	$149	69
10711 Red Shiner Run	0.63mi	4/2.5	1,885 (+1%)	1mo	$264,999	$141	69
10715 Red Shiner Run	0.63mi	4/2.0	1,850 (-1%)	1mo	$232,999	$126	66
10814 Saleh Cor	0.61mi	3/2.0 (-1)	1,968 (+5%)	0mo	$418,900	$213	55
10707 Red Shiner Run	0.62mi	4/2.0	1,676 (-10%)	1mo	$220,499	$132	51
1439 Leticia Gln	0.48mi	3/2.0 (-1)	1,657 (-11%)	1mo	$255,999	$154	51
1443 Porfirio Way	0.54mi	3/2.0 (-1)	1,657 (-11%)	1mo	$280,999	$170	48
1427 Althea Bnd	0.55mi	3/2.0 (-1)	1,657 (-11%)	1mo	$240,999	$145	48
1419 Althea Bnd	0.56mi	3/2.0 (-1)	1,657 (-11%)	1mo	$261,999	$158	48
1407 Althea Bnd	0.71mi	3/2.0 (-1)	1,657 (-11%)	1mo	$254,999	$154	40
1406 Caceres Spur	0.71mi	3/2.0 (-1)	1,657 (-11%)	1mo	$249,999	$151	40

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 · 0.83% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 2.21×
• Total profit: $132,239
• Equity at exit: $352,066

10-year hold

• IRR: 14.2%
• Equity multiple: 5.04×
• Total profit: $442,182
• Equity at exit: $759,245

Cash invested: $109,425 (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 78224

• Home prices YoY: 12.4%
• Rents YoY: 0.8%
• Active inventory: 274
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$2,049
• Tax est. 1.5%: −$489 /mo · $5,862/yr
• Insurance: −$163
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-1,202

Break-even live

Break-even rent $3,419

Max offer price $216,823

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: $97,701
• Closing costs: $11,724
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10210 S Zarzamora St San Antonio, TX	2.0–4.0	2.0	1139	$1,894	$1.66	2d	1	0.13mi
10119 Ana Hts San Antonio, TX	3.0	2.0	1266	$1,550	$1.22	11d	1	0.15mi
10151 Asta Trl San Antonio, TX	4.0	2.0	1625	$1,650	$1.02	12d	1	0.16mi
10018 Ana Hts San Antonio, TX	3.0	2.0	1266	$1,550	$1.22	16d	1	0.17mi
10135 Ana Hts San Antonio, TX	4.0	2.0	1952	$2,200	$1.13	2d	1	0.19mi
10031 Kersey Ml San Antonio, TX	4.0	2.5	1950	$1,895	$0.97	2d	1	0.19mi
10007 Kersey Ml San Antonio, TX	3.0	2.0	1440	$1,495	$1.04	44d	1	0.20mi
10107 Kersey Ml San Antonio, TX	4.0	2.0	1628	$1,695	$1.04	24d	1	0.21mi
10042 Kersey Ml San Antonio, TX	3.0	2.0	1450	$1,650	$1.14	22d	1	0.23mi
10258 Asta Trl San Antonio, TX	4.0	2.0	1625	$1,590	$0.98	16d	1	0.24mi
10542 Nye Pass San Antonio, TX	3.0	2.0	1440	$1,595	$1.11	44d	1	0.25mi
10507 Padron Bnd San Antonio, TX	3.0	2.0	1266	$1,600	$1.26	44d	1	0.27mi
10203 Asta Trl San Antonio, TX	3.0	2.0	1276	$1,800	$1.41	24d	1	0.28mi
10622 Vesta Curv San Antonio, TX	4.0	2.0	1627	$1,725	$1.06	4d	1	0.31mi
10611 Vesta Curv San Antonio, TX	4.0	2.0	1627	$1,735	$1.07	4d	1	0.34mi
1402 Bertha Br San Antonio, TX	3.0	2.0	1276	$1,700	$1.33	24d	1	0.42mi
1442 Mira Ml San Antonio, TX	3.0	2.0	1266	$1,545	$1.22	44d	1	0.44mi
1407 Mira Ml San Antonio, TX	4.0	2.0	1600	$2,000	$1.25	16d	1	0.44mi
1451 Neria Loop Unit 3 San Antonio, TX	4.0	3.0	1867	$700	$0.37	12d	1	0.46mi
10807 Bernal Cv San Antonio, TX	4.0	2.0	1575	$1,700	$1.08	16d	1	0.49mi
1355 Neria Loop San Antonio, TX	3.0	2.0	1266	$1,575	$1.24	44d	1	0.50mi
10750 Twyla Rd San Antonio, TX	3.0	2.0	1402	$1,750	$1.25	16d	1	0.50mi
11327 Clearmine San Antonio, TX	3.0	2.5	1362	$1,650	$1.21	2d	2	0.50mi
10815 Bernal Cv San Antonio, TX	3.0	2.0	1266	$1,550	$1.22	24d	1	0.51mi
9514 Veronica St San Antonio, TX	3.0	2.0	1455	$1,450	$1.00	3d	1	0.51mi
10823 Bernal Cv San Antonio, TX	4.0	2.0	1600	$2,000	$1.25	2d	1	0.52mi
2026 Bigmouth Rod San Antonio, TX	4.0	2.5	1383	$1,650	$1.19	4d	1	0.62mi
10523 Goose Way San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.64mi
2107 Bigmouth Rod San Antonio, TX	3.0	2.5	1777	$1,675	$0.94	44d	1	0.64mi
2111 Bigmouth Rod San Antonio, TX	4.0	2.5	1917	$1,700	$0.89	44d	1	0.65mi
2115 Bigmouth Rod San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	44d	1	0.66mi
1347 Neria LOOP San Antonio, TX	4.0	2.5	2173	$1,699	$0.78	44d	1	0.71mi
10811 Soupe CV San Antonio, TX	4.0	2.5	2173	$1,995	$0.92	3d	1	0.71mi
10723 Goose Way San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.72mi
10710 Butterfly Pass San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.73mi
10719 Butterfly Pass San Antonio, TX	3.0	2.5	1645	$1,640	$1.00	44d	1	0.76mi
2222 Fishing Trl San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	24d	1	0.77mi
10723 Butterfly Pass San Antonio, TX	4.0	2.5	1687	$1,675	$0.99	44d	1	0.77mi
10527 Hunters Pond San Antonio, TX	4.0	2.5	1510	$1,395	$0.92	44d	1	0.77mi
2226 Fishing Trl San Antonio, TX	3.0	2.5	1777	$1,650	$0.93	24d	1	0.78mi

Listing history 17 events

1. 2026-06-18
   days on market $250,999 Active 359 DOM
2. 2026-06-17
   days on market $250,999 Active 358 DOM
3. 2026-06-16
   days on market $250,999 Active 357 DOM
4. 2026-06-15
   days on market $250,999 Active 356 DOM
5. 2026-06-13
   days on market $250,999 Active 354 DOM
6. 2026-06-09
   days on market $250,999 Active 350 DOM
7. 2026-06-08
   days on market $250,999 Active 349 DOM
8. 2026-06-07
   days on market $250,999 Active 348 DOM
9. 2026-06-04
   days on market $250,999 Active 345 DOM
10. 2026-06-03
    days on market $250,999 Active 344 DOM
11. 2026-06-02
    days on market $250,999 Active 343 DOM
12. 2026-06-01
    days on market $250,999 Active 342 DOM
13. 2026-05-31
    days on market $250,999 Active 341 DOM
14. 2025-12-04
    price $253,999 381-char remark

    Show marketing remark (381 chars)

    This new two-story home boasts a spacious and modern design. On the first floor, a flexible open-concept floorplan combines the kitchen, living and dining areas, and the luxurious owner's suite is tucked into a private rear corner with a spa-inspired bathroom and walk-in closet. On the second floor, three secondary bedrooms surround a versatile loft for convenient shared living.

15. 2025-10-23
    price $251,999 381-char remark

    Show marketing remark (381 chars)

    This new two-story home boasts a spacious and modern design. On the first floor, a flexible open-concept floorplan combines the kitchen, living and dining areas, and the luxurious owner's suite is tucked into a private rear corner with a spa-inspired bathroom and walk-in closet. On the second floor, three secondary bedrooms surround a versatile loft for convenient shared living.

16. 2025-09-01
    price $255,999 381-char remark

    Show marketing remark (381 chars)

    This new two-story home boasts a spacious and modern design. On the first floor, a flexible open-concept floorplan combines the kitchen, living and dining areas, and the luxurious owner's suite is tucked into a private rear corner with a spa-inspired bathroom and walk-in closet. On the second floor, three secondary bedrooms surround a versatile loft for convenient shared living.

17. 2025-06-24
    listed $268,999 Active 381-char remark

    Show marketing remark (381 chars)

    This new two-story home boasts a spacious and modern design. On the first floor, a flexible open-concept floorplan combines the kitchen, living and dining areas, and the luxurious owner's suite is tucked into a private rear corner with a spa-inspired bathroom and walk-in closet. On the second floor, three secondary bedrooms surround a versatile loft for convenient shared living.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 5 d/yr ≥109°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,761
• − Mortgage interest: −$21,891
• − Property taxes: −$5,862
• − Insurance: −$1,954
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$11,369
• Taxable loss: −$21,957
• Est. tax savings @ 24.0%: +$5,270
• After-tax cash flow: $-9,158/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: Southwest ISD
• NCES district ID: 4840950
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $43,362
• Composite: 22.22/100
• National rank: #8153
• State rank: #701 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): 22,232
• Household income: $59,891
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 721.0

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 (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 24% White 6% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 44% English-only · Spanish 55% Chinese 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: ▲ 29.95%
• Current HPI: 272.0709
• Rent YoY: ▲ 0.83%
• 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

-5.6% since first listed

4 events — show timeline

• 2025-12-04 Price Changed $253,999 Zillow
• 2025-10-23 Price Changed $251,999 Zillow
• 2025-09-01 Price Changed $255,999 Zillow
• 2025-06-24 Listed $268,999 Zillow