446 Blue Bonnet St · San Antonio, TX 78202

$129,999

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 87 Days on market

Built 1930 3,179 sqft lot $111/sqft · 28% below area Est $181k · 28% under

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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 +18.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• 1% rule +5.4/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Check out this amazing home in the heart of downtown San Antonio! Perfectly positioned near vibrant dining and shopping hotspots, this home invites you to imagine its full potential. The front porch, with an outdoor ceiling fan, sets the stage for relaxation or entertaining. Step inside to find a spacious living and dining area flowing effortlessly into the kitchen, creating a layout that's perfect for modern living. The home features two bedrooms and a full bath with a tub-shower combo and pedestal sink, offering a solid foundation for a cozy retreat. Recent updates have expanded the living space, providing even more opportunities to customize and create your dream home-or a lucrative investment. This is your chance to turn potential into reality.

Key facts

• Recent updates
• Outdoor ceiling fan
• Front porch

Tags

• FRONT PORCH
• OUTDOOR CEILING FAN
• KITCHEN LAYOUT
• RECENT UPDATES
• EXPANDED LIVING SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 196 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $14k of equity ($899 loan paydown + $13k 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 + 8.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $122,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.04% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.84%
• DSCR: 1.17
• GRM: 8.0

CMA / ARV

• ARV (median comp): $181,184
• List price: $129,999
• Delta: -28.25%
• 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	0.17mi	3/2.0 (+1)	1,210 (+3%)	4mo	$210,000	$174	75
2118 Burnet	0.21mi	3/2.5 (+1)	1,088 (-8%)	3mo	$130,000	$119	64
2111 Lamar	0.53mi	3/1.0 (+1)	1,238 (+5%)	5mo	$62,500	$50	58
1410 Paso Hondo	0.51mi	3/2.0 (+1)	1,219 (+4%)	4mo	$159,000	$130	58
2131 Burnet	0.25mi	3/2.0 (+1)	1,312 (+12%)	4mo	$210,000	$160	56
2055 E Crockett St	0.40mi	3/1.0 (+1)	1,054 (-10%)	5mo	$120,000	$114	54
2710 E Houston St	0.38mi	3/1.0 (+1)	1,017 (-14%)	2mo	$185,000	$182	53
1413 Crockett	0.67mi	1/1.0 (-1)	1,122 (-5%)	4mo	$125,000	$111	53
1048 Gibbs	0.51mi	3/2.0 (+1)	1,280 (+9%)	1mo	$249,000	$195	52
822 Potomac	0.35mi	3/1.0 (+1)	1,012 (-14%)	5mo	$79,900	$79	52
1413 Burnet	0.44mi	2/2.0	1,005 (-14%)	4mo	$250,000	$249	48
110 Saint John	0.43mi	3/2.0 (+1)	1,352 (+15%)	6mo	$179,000	$132	41

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: 29.1%
• Equity multiple: 3.35×
• Total profit: $85,395
• Equity at exit: $117,113

10-year hold

• IRR: 26.9%
• Equity multiple: 8.24×
• Total profit: $263,382
• Equity at exit: $252,559

Cash invested: $36,400 (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: 196
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$682
• Tax from tax record: −$212 /mo · $2,546/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $117

Break-even live

Break-even rent $1,200

Max offer price $129,999

Occupancy floor 86%

Sensitivity live

Price	-10% $190	-5% $153	+0% $117	+5% $80	+10% $43
Rent	-10% $10	-5% $63	+0% $117	+5% $170	+10% $223
Rate	-1.0pp $182	-0.5pp $150	base $117	+0.5pp $83	+1.0pp $49

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1104 N Gevers St San Antonio, TX	3.0	2.5	1276	$1,725	$1.35	44d	1	0.12mi
607 Gulf San Antonio, TX	3.0	2.0	1482	$1,395	$0.94	24d	1	0.14mi
710 Poinsettia San Antonio, TX	2.0	1.0	708	$1,195	$1.69	44d	1	0.19mi
452 Gulf San Antonio, TX	3.0	1.0	1244	$1,899	$1.53	22d	1	0.20mi
1223 N Walters St Unit 710 San Antonio, TX	2.0	2.0	970	$1,047	$1.08	3d	1	0.21mi
1223 N Walters St Unit 610 San Antonio, TX	1.0	1.0	732	$877	$1.20	3d	1	0.21mi
1414 Gorman San Antonio, TX	2.0	1.0	900	$1,175	$1.31	44d	1	0.22mi
2118 Burnet St San Antonio, TX	3.0	2.0	1008	$1,650	$1.64	3d	1	0.22mi
438 Gulf St San Antonio, TX	2.0	1.0	799	$975	$1.22	15d	1	0.22mi
2006 Hays St San Antonio, TX	3.0	2.0	1176	$1,750	$1.49	20d	1	0.22mi
1017 N Mittman St San Antonio, TX	1.0	1.0	726	$910	$1.25	44d	1	0.23mi
1510 Gorman San Antonio, TX	2.0	1.0	996	$1,300	$1.31	18d	1	0.26mi
639 Canton San Antonio, TX	2.0	1.0	1008	$1,295	$1.28	44d	1	0.27mi
1521 Hays St Unit A San Antonio, TX	1.0	1.0	1322	$875	$0.66	24d	1	0.28mi
1521 Hays St Unit A San Antonio, TX	1.0	1.0	1322	$875	$0.66	44d	1	0.28mi
742 Gulf St Unit 746 San Antonio, TX	2.0	1.0	744	$975	$1.31	13d	1	0.31mi
323 Gabriel Unit 1 101 San Antonio, TX	3.0	2.5	1400	$1,950	$1.39	24d	1	0.31mi
323 Gabriel San Antonio, TX	3.0	2.0	1400	$1,950	$1.39	22d	1	0.31mi
323 Gabriel Unit 1 201 San Antonio, TX	2.0	2.5	1000	$1,375	$1.38	44d	1	0.31mi
323 Gabriel San Antonio, TX	2.0	2.0	1000	$1,375	$1.38	24d	1	0.31mi
746 Gulf San Antonio, TX	2.0	1.0	744	$975	$1.31	15d	1	0.32mi
706 Canton San Antonio, TX	2.0	1.0	994	$1,545	$1.55	24d	1	0.33mi
1615 Nolan St Unit A San Antonio, TX	2.0	1.0	1066	$1,400	$1.31	11d	1	0.33mi
1615 Nolan St San Antonio, TX	1.0	1.0	978	$1,200	$1.23	11d	1	0.33mi
1411 Lamar St San Antonio, TX	2.0	1.0	700	$1,125	$1.61	44d	1	0.36mi
1412 Hays St San Antonio, TX	3.0	1.0	1250	$1,495	$1.20	24d	1	0.36mi
1622 Gorman San Antonio, TX	3.0	2.0	1189	$1,325	$1.11	18d	1	0.37mi
932 Poinsettia St San Antonio, TX	2.0	1.0	800	$945	$1.18	44d	1	0.40mi
1323 Lamar St #1 San Antonio, TX	2.0	1.0	900	$999	$1.11	44d	1	0.40mi
2239 Burnet St San Antonio, TX	3.0	2.0	1097	$1,450	$1.32	44d	1	0.41mi
1650 Gorman San Antonio, TX	2.0	1.0	950	$1,111	$1.17	24d	1	0.44mi
103 Saint John San Antonio, TX	2.0	1.0	943	$1,245	$1.32	44d	1	0.46mi
1111 Gibbs San Antonio, TX	3.0	2.0	1476	$1,595	$1.08	24d	1	0.47mi
1101 Gibbs San Antonio, TX	3.0	1.0	1100	$1,345	$1.22	24d	1	0.48mi
1101 Gibbs San Antonio, TX	3.0	1.0	1100	$1,345	$1.22	15d	1	0.48mi
1435 Gibbs San Antonio, TX	3.0	1.0	975	$1,435	$1.47	24d	1	0.49mi
906 Gulf St Unit 102 San Antonio, TX	3.0	2.0	1300	$1,750	$1.35	5d	1	0.50mi
721 Potomac San Antonio, TX	1.0	1.0	914	$1,100	$1.20	24d	1	0.53mi
308 Belmont San Antonio, TX	1.0	1.0	700	$850	$1.21	24d	1	0.54mi
2818 E Houston St San Antonio, TX	3.0	1.0	1184	$1,495	$1.26	15d	1	0.55mi

Listing history 31 events

1. 2026-06-18
   days on market $129,999 Active 87 DOM
2. 2026-06-17
   days on market $129,999 Active 86 DOM
3. 2026-06-16
   days on market $129,999 Active 85 DOM
4. 2026-06-15
   days on market $129,999 Active 84 DOM
5. 2026-06-13
   days on market $129,999 Active 82 DOM
6. 2026-06-09
   days on market $129,999 Active 78 DOM
7. 2026-06-08
   days on market $129,999 Active 77 DOM
8. 2026-06-07
   days on market $129,999 Active 76 DOM
9. 2026-06-04
   days on market $129,999 Active 73 DOM
10. 2026-06-03
    days on market $129,999 Active 72 DOM
11. 2026-06-02
    days on market $129,999 Active 71 DOM
12. 2026-06-01
    days on market $129,999 Active 70 DOM
13. 2026-05-31
    days on market $129,999 Active 69 DOM
14. 2026-03-23
    listed $129,999 New 758-char remark

    Show marketing remark (758 chars)

    Check out this amazing home in the heart of downtown San Antonio! Perfectly positioned near vibrant dining and shopping hotspots, this home invites you to imagine its full potential. The front porch, with an outdoor ceiling fan, sets the stage for relaxation or entertaining. Step inside to find a spacious living and dining area flowing effortlessly into the kitchen, creating a layout that's perfect for modern living. The home features two bedrooms and a full bath with a tub-shower combo and pedestal sink, offering a solid foundation for a cozy retreat. Recent updates have expanded the living space, providing even more opportunities to customize and create your dream home-or a lucrative investment. This is your chance to turn potential into reality.

15. 2025-10-25
    historical
16. 2025-06-30
    listed $139,000 New
17. 2025-06-23
    historical
18. 2025-03-18
    price $145,000
19. 2025-01-27
    price $150,000
20. 2025-01-10
    listed $160,000 New
21. 2024-07-22
    historical
22. 2024-06-17
    price $150,000
23. 2024-05-10
    listed $190,000 New
24. 2020-02-21
    soldstatus
25. 2018-01-25
    soldstatus
26. 2006-01-05
    soldstatus
27. 2004-06-11
    soldstatus
28. 2004-06-11
    soldstatus
29. 2004-06-11
    soldstatus
30. 2004-06-10
    soldstatus
31. 2004-02-17
    listed $23,500

ⓘ 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: $2,546 · $212/mo
• Projected year-2 tax: $2,546 · $212/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: $16,171
• − Mortgage interest: −$7,282
• − Property taxes: −$2,546
• − Insurance: −$650
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,782
• Taxable loss: −$676
• Est. tax savings @ 24.0%: +$162
• After-tax cash flow: $1,561/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

+453.2% since first listed

18 events — show timeline

• 2026-03-23 Listed $129,999 LERA
• 2025-10-25 Listing Removed — LERA
• 2025-06-30 Listed $139,000 LERA
• 2025-06-23 Listing Removed — LERA
• 2025-03-18 Price Changed $145,000 LERA
• 2025-01-27 Price Changed $150,000 LERA
• 2025-01-10 Listed $160,000 LERA
• 2024-07-22 Listing Removed — LERA
• 2024-06-17 Price Changed $150,000 LERA
• 2024-05-10 Listed $190,000 LERA
• 2020-02-21 Sold (Public Records) — Public Records
• 2018-01-25 Sold (Public Records) — Public Records
• 2006-01-05 Sold (Public Records) — Public Records
• 2004-06-11 Sold (Public Records) — Public Records
• 2004-06-11 Sold (Public Records) — Public Records
• 2004-06-11 Sold (Public Records) — Public Records
• 2004-06-10 Sold (MLS) — LERA
• 2004-02-17 Listed $23,500 LERA

Property tax history

+9.8%/yr

Latest (2025): $2,546 · -2.3% YoY. Source: county tax records.