452 Gulf St · San Antonio, TX 78202

$209,900

2 bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 33 Days on market

Built 1924 6,098 sqft lot $169/sqft · 28% below area Est $291k · 28% under

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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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.3/30.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• 1% rule +1.3/10.0
• DSCR +0.0/10.0

Listing remarks

Great opportunity for investors or first-time buyers. Expanded from a 2 bed, 1 bath to a 3 bed, 2 bath with added space and functionality. Remodeled interior offers a clean, updated look and move-in ready convenience. Affordable price point with strong rental potential or ideal for building equity. Located just 5 minutes from the Frost Bank Center and 10 minutes to Downtown San Antonio with easy access to major roads, shopping, and entertainment.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1924

Property features AI

Finance

• Other: Subdivision: I35 SO. TO E. HOUSTON (SA)
• Financial info: Down payment resource not available

Exterior

• Parking: Side entry parking
• Utilities: City water and sewer
• Home design: Pre-owned property; Recent rehab
• Construction: Approximately 102 years old; Stucco and siding exterior; Slab foundation; Composition roof
• Exterior features: Double pane windows; Mature trees; Corner lot; Level lot; Street paved with curbs, sidewalks and streetlights

Interior

• Kitchen: Kitchen 9 x 10; Microwave; Stove/Range
• Bedrooms: Master bedroom 15 x 13 with full bath; Bedroom 2 11 x 10; Bedroom 3 11 x 12
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bathroom with shower only and double vanity (8 x 8)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Some window coverings remain; 1 living area
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-463 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (39.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (36.7% below list).
• Recommended offer: $128k (39.0% below list) — sets the bar for cash-flow.

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: Washington El (math 2% / reading 8%, grade F, #4,316 of 4,322 statewide, top 100%, 337 students, 98% FRL); Houston H S (math 12% / reading 18%, grade F, #1,507 of 1,632 statewide, top 93%, 856 students, 95% 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 (+8.2%/yr); 201 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k 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 ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y ago; this cycle's ask is 10953% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $128,117 (39.0% 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 33 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.63% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.45%
• DSCR: 0.58
• GRM: 13.2

CMA / ARV

• ARV (median comp): $290,715
• List price: $209,900
• Delta: -27.80%
• 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
1719 Dawson St	0.07mi	3/2.0 (+1)	1,210 (-3%)	4mo	$210,000	$174	80
1048 Gibbs	0.32mi	3/2.0 (+1)	1,280 (+3%)	1mo	$249,000	$195	70
1410 Paso Hondo	0.45mi	3/2.0 (+1)	1,219 (-2%)	5mo	$159,000	$130	63
2031 E Crockett	0.38mi	2/1.0	1,416 (+14%)	1mo	$79,900	$56	58
2131 Burnet	0.43mi	3/2.0 (+1)	1,312 (+6%)	4mo	$210,000	$160	58
910 Potomac	0.26mi	3/2.0 (+1)	1,390 (+12%)	2mo	$130,000	$94	57
1019 Nolan	0.68mi	3/1.0 (+1)	1,184 (-5%)	2mo	$210,000	$177	54
1413 Crockett	0.50mi	1/1.0 (-1)	1,122 (-10%)	4mo	$125,000	$111	52
919 Saint James	0.51mi	2/2.0	1,390 (+12%)	2mo	$245,000	$176	51
623 Belmont	0.59mi	3/2.0 (+1)	1,355 (+9%)	0mo	$230,000	$170	48
2118 Burnet	0.39mi	3/2.5 (+1)	1,088 (-12%)	3mo	$130,000	$119	47
411 S Gevers	0.64mi	3/2.0 (+1)	1,147 (-8%)	2mo	$210,000	$183	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.56×
• Total profit: $91,917
• Equity at exit: $189,095

10-year hold

• IRR: 18.6%
• Equity multiple: 6.30×
• Total profit: $311,390
• Equity at exit: $407,790

Cash invested: $58,772 (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 78202

• Home prices YoY: 27.0%
• Rents YoY: 8.2%
• Active inventory: 201
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,330 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$325 /mo · $3,902/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-463

Break-even live

Break-even rent $1,916

Max offer price $128,117

Occupancy floor —

Sensitivity live

Price	-10% $-344	-5% $-404	+0% $-463	+5% $-522	+10% $-582
Rent	-10% $-568	-5% $-515	+0% $-463	+5% $-410	+10% $-358
Rate	-1.0pp $-357	-0.5pp $-410	base $-463	+0.5pp $-517	+1.0pp $-573

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
452 Gulf San Antonio, TX	3.0	1.0	1244	$1,899	$1.53	24d	1	0.02mi
438 Gulf St San Antonio, TX	2.0	1.0	799	$975	$1.22	17d	1	0.04mi
1908 Nolan St San Antonio, TX	2.0	1.0	836	$1,049	$1.25	0d	1	0.11mi
607 Gulf San Antonio, TX	3.0	2.0	1482	$1,395	$0.94	26d	1	0.16mi
1104 N Gevers St San Antonio, TX	3.0	2.5	1276	$1,725	$1.35	45d	1	0.23mi
1615 Nolan St San Antonio, TX	1.0	1.0	978	$1,200	$1.23	13d	1	0.23mi
1615 Nolan St Unit A San Antonio, TX	2.0	1.0	1066	$1,400	$1.31	13d	1	0.23mi
639 Canton San Antonio, TX	2.0	1.0	1008	$1,295	$1.28	45d	1	0.27mi
1111 Gibbs San Antonio, TX	3.0	2.0	1476	$1,595	$1.08	26d	1	0.30mi
1101 Gibbs San Antonio, TX	3.0	1.0	1100	$1,345	$1.22	26d	1	0.30mi
1101 Gibbs San Antonio, TX	3.0	1.0	1100	$1,345	$1.22	17d	1	0.30mi
1521 Hays St Unit A San Antonio, TX	1.0	1.0	1322	$875	$0.66	26d	1	0.32mi
1521 Hays St Unit A San Antonio, TX	1.0	1.0	1322	$875	$0.66	45d	1	0.32mi
103 Saint John San Antonio, TX	2.0	1.0	943	$1,245	$1.32	45d	1	0.33mi
1414 Gorman San Antonio, TX	2.0	1.0	900	$1,175	$1.31	45d	1	0.33mi
706 Canton San Antonio, TX	2.0	1.0	994	$1,545	$1.55	26d	1	0.33mi
710 Poinsettia San Antonio, TX	2.0	1.0	708	$1,195	$1.69	45d	1	0.34mi
710 Poinsettia San Antonio, TX	2.0	1.0	708	$1,195	$1.69	0d	1	0.34mi
1412 Hays St San Antonio, TX	3.0	1.0	1250	$1,495	$1.20	26d	1	0.35mi
721 Potomac San Antonio, TX	1.0	1.0	914	$1,100	$1.20	26d	1	0.35mi
1510 Gorman San Antonio, TX	2.0	1.0	996	$1,300	$1.31	19d	1	0.37mi
2118 Burnet St San Antonio, TX	3.0	2.0	1008	$1,650	$1.64	5d	1	0.38mi
742 Gulf St Unit 746 San Antonio, TX	2.0	1.0	744	$975	$1.31	14d	1	0.39mi
1017 N Mittman St San Antonio, TX	1.0	1.0	726	$910	$1.25	45d	1	0.39mi
1223 N Walters St Unit 610 San Antonio, TX	1.0	1.0	732	$869	$1.19	0d	1	0.39mi
1223 N Walters St Unit 710 San Antonio, TX	2.0	2.0	970	$1,039	$1.07	0d	1	0.39mi
746 Gulf San Antonio, TX	2.0	1.0	744	$975	$1.31	17d	1	0.40mi
2006 Hays St San Antonio, TX	3.0	2.0	1176	$1,750	$1.49	22d	1	0.40mi
308 Belmont San Antonio, TX	1.0	1.0	700	$850	$1.21	26d	1	0.41mi
155 Canton San Antonio, TX	2.0	2.0	1078	$1,250	$1.16	26d	1	0.41mi
1411 Lamar St San Antonio, TX	2.0	1.0	700	$1,125	$1.61	45d	1	0.41mi
323 Gabriel San Antonio, TX	2.0	2.0	1000	$1,375	$1.38	26d	1	0.42mi
323 Gabriel Unit 1 201 San Antonio, TX	2.0	2.5	1000	$1,375	$1.38	45d	1	0.42mi
323 Gabriel San Antonio, TX	3.0	2.0	1400	$1,950	$1.39	24d	1	0.42mi
323 Gabriel Unit 1 101 San Antonio, TX	3.0	2.5	1400	$1,950	$1.39	26d	1	0.42mi
622 Potomac St San Antonio, TX	1.0	1.0	700	$975	$1.39	45d	1	0.43mi
620 Potomac San Antonio, TX	2.0	1.0	900	$1,050	$1.17	24d	1	0.43mi
1323 Lamar St #1 San Antonio, TX	2.0	1.0	900	$999	$1.11	45d	1	0.44mi
103 Saint Charles Unit NA San Antonio, TX	2.0	2.0	995	$1,300	$1.31	45d	1	0.46mi
1435 Gibbs San Antonio, TX	3.0	1.0	975	$1,435	$1.47	26d	1	0.46mi

Listing history 26 events

1. 2026-05-15
   price $209,900 450-char remark
2. 2026-04-23
   listed $214,900 New 450-char remark
3. 2026-02-17
   soldstatus
4. 2026-02-04
   historical
5. 2025-12-31
   listed $198,000 New
6. 2025-03-30
   historical
7. 2025-01-03
   listed $190,000 New
8. 2024-11-10
   historical
9. 2024-09-19
   price $259,000
10. 2024-09-12
    price $199,500
11. 2024-09-11
    status Back on Market
12. 2024-08-15
    historical
13. 2024-07-14
    price $190,000
14. 2024-07-10
    price $195,000
15. 2024-07-04
    listed $199,999 New
16. 2024-06-15
    historical
17. 2024-05-25
    listed $215,000 New
18. 2024-04-15
    historical
19. 2024-03-14
    price $249,000
20. 2024-03-02
    listed $259,000 New
21. 2023-11-28
    historical
22. 2023-11-07
    listed $268,990 New
23. 2022-08-15
    soldstatus
24. 2022-07-20
    soldstatus
25. 2001-06-06
    soldstatus
26. 1999-11-12
    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: $3,902 · $325/mo
• Projected year-2 tax: $3,902 · $325/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 · 22 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: $15,955
• − Mortgage interest: −$11,758
• − Property taxes: −$3,902
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$6,106
• Taxable loss: −$9,413
• Est. tax savings @ 24.0%: +$2,259
• After-tax cash flow: $-3,296/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): 10,224
• Household income: $47,478
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 543.0

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 (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 28% White 17% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 57% Puerto Rican 1% Cuban 1%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 59% English-only · Spanish 41%

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: ▲ 53.82%
• Current HPI: 253.3196
• Rent YoY: ▲ 8.20%
• 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

-99.3% since first listed

28 events — show timeline

• 2026-05-28 Listed for Rent $1,899 SABOR
• 2026-05-26 Listing Removed — LERA
• 2026-05-15 Price Changed $209,900 LERA
• 2026-04-23 Listed $214,900 LERA
• 2026-02-17 Sold (Public Records) — Public Records
• 2026-02-04 Listing Removed — LERA
• 2025-12-31 Listed $198,000 LERA
• 2025-03-30 Listing Removed — LERA
• 2025-01-03 Listed $190,000 LERA
• 2024-11-10 Listing Removed — LERA
• 2024-09-19 Price Changed $259,000 LERA
• 2024-09-12 Price Changed $199,500 LERA
• 2024-09-11 Relisted — LERA
• 2024-08-15 Listing Removed — LERA
• 2024-07-14 Price Changed $190,000 LERA
• 2024-07-10 Price Changed $195,000 LERA
• 2024-07-04 Listed $199,999 LERA
• 2024-06-15 Listing Removed — LERA
• 2024-05-25 Listed $215,000 LERA
• 2024-04-15 Listing Removed — LERA
• 2024-03-14 Price Changed $249,000 LERA
• 2024-03-02 Listed $259,000 LERA
• 2023-11-28 Listing Removed — LERA
• 2023-11-07 Listed $268,990 LERA
• 2022-08-15 Sold (Public Records) — Public Records
• 2022-07-20 Sold (Public Records) — Public Records
• 2001-06-06 Sold (Public Records) — Public Records
• 1999-11-12 Sold (Public Records) — Public Records

Property tax history

+11.1%/yr

Latest (2025): $3,902 · -2.7% YoY. Source: county tax records.