241 Deerwood Dr · San Antonio, TX 78209

$395,000

8 bd · 4.0 ba · 3,960 sqft · MultiFamily public records · 265 Days on market

Built 1955 0.47 ac lot $100/sqft · 27% below area Est $545k · 27% under

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Why this score? — see what drove the C+ 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 +21.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• DSCR +6.9/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

Key facts

• 0.47 acre lot
• 4 parking spots
• Built 1955

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive. Per door: $197/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $395k).
• Recommended offer: $348k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: schools C-, crime F.
• North East ISD (urban): math 38% / reading 49% proficiency, ranked #276 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.0%/yr); 363 active listings in the ZIP; solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $5,047/mo this rent would consume 70% of the median local household income ($87k/yr) (locally 1480% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 265 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 19y ago; this cycle's ask has dropped $104k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $347,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.43%
• DSCR: 1.29
• GRM: 6.5

CMA / ARV

• ARV (median comp): $544,610
• List price: $395,000
• Delta: -27.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.63×
• Total profit: $-40,588
• Equity at exit: $58,896

10-year hold

• IRR: -7.1%
• Equity multiple: 0.62×
• Total profit: $-41,958
• Equity at exit: $34,152

Cash invested: $110,600 (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 78209

• Rents YoY: -1.0%
• Active inventory: 363
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $5,047 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$1,159 /mo · $13,906/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,060
• Net cashflow: $592

Break-even live

Break-even rent $4,297

Max offer price $395,000

Occupancy floor 83%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,046
Total (3 units)			$5,047

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-05-15
   historical Active Option 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

2. 2026-04-30
   price $395,000 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

3. 2026-03-10
   price $450,000 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

4. 2026-02-02
   status Back on Market 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

5. 2026-01-26
   historical Active Option 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

6. 2026-01-16
   price $485,000 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

7. 2025-11-25
   price $494,000 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

8. 2025-09-11
   status Back on Market 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

9. 2025-09-08
   historical Active Option 300-char remark

   Show marketing remark (300 chars)

   This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

10. 2025-09-03
    listed $499,000 New 300-char remark

    Show marketing remark (300 chars)

    This multi-family property features four townhome-style units, each offering 2 bedrooms and 1 bathroom, with a total of 3,960 sq. ft. There is no HOA, providing added flexibility. Currently, three units are occupied and one is vacant, presenting both immediate rental income and investment potential.

11. 2025-03-24
    historical $895
12. 2025-03-08
    price $895
13. 2025-03-03
    historical
14. 2025-02-07
    listed $950
15. 2025-02-07
    historical $950
16. 2025-02-01
    listed $950
17. 2024-11-29
    listed $550,000 New
18. 2024-06-21
    historical
19. 2024-05-30
    price $625,000
20. 2024-04-18
    price $650,000
21. 2024-03-08
    price $675,000
22. 2024-01-09
    listed $710,000 New
23. 2020-10-22
    soldstatus
24. 2020-10-05
    soldstatus Sold
25. 2020-09-01
    status Pending SB
26. 2020-08-21
    historical Active Option
27. 2020-08-09
    listed $499,999 New
28. 2015-02-10
    soldstatus
29. 2015-02-09
    soldstatus Sold
30. 2014-12-24
    status Pending
31. 2014-12-17
    historical Active Option
32. 2014-11-15
    price $199,500
33. 2014-11-01
    listed $210,000 New
34. 2014-08-08
    soldstatus
35. 2014-07-11
    historical
36. 2014-05-14
    listed $240,000 New
37. 2013-08-18
    historical
38. 2013-07-30
    price $202,000 Price Change
39. 2012-10-29
    listed $204,000 Active
40. 2011-08-15
    historical
41. 2009-12-04
    listed $205,000
42. 2007-10-16
    soldstatus
43. 2007-10-12
    soldstatus
44. 2007-09-07
    historical
45. 2007-08-29
    historical
46. 2007-08-28
    listed $249,900
47. 2007-08-14
    listed $249,950
48. 2006-09-22
    soldstatus
49. 2003-09-09
    soldstatus
50. 2000-12-04
    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: $13,906 · $1,159/mo
• Projected year-2 tax: $13,906 · $1,159/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 · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $60,564
• − Mortgage interest: −$22,126
• − Property taxes: −$13,906
• − Insurance: −$1,975
• − Repairs & maintenance: −$4,845
• − Management: −$4,845
• − Depreciation: −$11,491
• Taxable income: $1,376
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $6,778/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: North East ISD
• NCES district ID: 4832940
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $57,715
• Composite: 38.1/100
• National rank: #4276
• State rank: #276 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): 43,400
• Household income: $86,514
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 1480.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 2% Tagalog/Filipino 0%

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: ▼ -386.19%
• Current HPI: 251.5759
• Rent YoY: ▼ -1.04%
• 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

+58.0% since first listed

50 events — show timeline

• 2026-05-15 Contingent — LERA
• 2026-04-30 Price Changed $395,000 LERA
• 2026-03-10 Price Changed $450,000 LERA
• 2026-02-02 Relisted — LERA
• 2026-01-26 Contingent — LERA
• 2026-01-16 Price Changed $485,000 LERA
• 2025-11-25 Price Changed $494,000 LERA
• 2025-09-11 Relisted — LERA
• 2025-09-08 Contingent — LERA
• 2025-09-03 Listed $499,000 LERA
• 2025-03-24 Rental Removed $895 SABOR
• 2025-03-08 Price Changed $895 SABOR
• 2025-03-03 Listing Removed — LERA
• 2025-02-07 Listed for Rent $950 SABOR
• 2025-02-07 Rental Removed $950 SHOWMOJO
• 2025-02-01 Listed for Rent $950 SHOWMOJO
• 2024-11-29 Listed $550,000 LERA
• 2024-06-21 Listing Removed — LERA
• 2024-05-30 Price Changed $625,000 LERA
• 2024-04-18 Price Changed $650,000 LERA
• 2024-03-08 Price Changed $675,000 LERA
• 2024-01-09 Listed $710,000 LERA
• 2020-10-22 Sold (Public Records) — Public Records
• 2020-10-05 Sold (MLS) — LERA
• 2020-09-01 Pending — LERA
• 2020-08-21 Contingent — LERA
• 2020-08-09 Listed $499,999 LERA
• 2015-02-10 Sold (Public Records) — Public Records
• 2015-02-09 Sold (MLS) — LERA
• 2014-12-24 Pending — LERA
• 2014-12-17 Contingent — LERA
• 2014-11-15 Price Changed $199,500 LERA
• 2014-11-01 Listed $210,000 LERA
• 2014-08-08 Sold (Public Records) — Public Records
• 2014-07-11 Listing Removed — LERA
• 2014-05-14 Listed $240,000 LERA
• 2013-08-18 Listing Removed — LERA
• 2013-07-30 Price Changed $202,000 LERA
• 2012-10-29 Listed $204,000 LERA
• 2011-08-15 Listing Removed — LERA
• 2009-12-04 Listed $205,000 LERA
• 2007-10-16 Sold (Public Records) — Public Records
• 2007-10-12 Sold (MLS) — LERA
• 2007-09-07 Listing Removed — LERA
• 2007-08-29 Listing Removed — LERA
• 2007-08-28 Listed $249,900 LERA
• 2007-08-14 Listed $249,950 LERA
• 2006-09-22 Sold (Public Records) — Public Records
• 2003-09-09 Sold (Public Records) — Public Records
• 2000-12-04 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $13,906 · -0.8% YoY. Source: county tax records.