Findley Plan · Converse, TX 78109

$218,990

4 bd · 2.0 ba · 1,334 sqft · SingleFamily · 382 Days on market

Excellent condition ↓ 6% since listing

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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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Condition / age +4.8/5.0
• Livability +3.3/5.0
• Rent growth +2.2/5.0
• Schools +2.1/10.0
• 1% rule +2.0/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Findley is a thoughtfully designed one-story home with 4 bedrooms and 2 bathrooms. The open-concept layout includes a welcoming foyer, a spacious gathering room, and a modern kitchen that flows into a bright café area. The owner's suite offers a private retreat with a walk-in closet and optional shower. Three additional bedrooms provide flexibility for guests, home office, or play space.

Key facts

• Listed 381 days

🏗️ New construction. The $218,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $264,733.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $219k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (15.8% below list).
• Recommended offer: $184k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#649 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime C-, amenities F, commute F.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Central Heritage Middle (math 11% / reading 26%, grade F, #1,478 of 1,662 statewide, top 90%, 1,120 students, 44% FRL); East Central H S (math 21% / reading 28%, grade F, #1,264 of 1,632 statewide, top 82%, 3,252 students, 52% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1440 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 382 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,448 (15.8% 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 382 days. Have you received any prior offers? Is the seller open to a 16% 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. 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?
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: 0.70% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.03%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $264,733
• List price: $218,990
• Delta: -17.28%
• 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
1319 Vallarta Centro	0.15mi	4/2.0	1,334 (0%)	1mo	$199,850	$150	92
1351 Vallarta Centro	0.14mi	3/2.0 (-1)	1,330 (-0%)	1mo	$219,770	$165	87
1242 Punta Mita St	0.16mi	3/2.0 (-1)	1,276 (-4%)	1mo	$225,780	$177	79
10605 Denali Preserve	0.28mi	3/2.0 (-1)	1,280 (-4%)	1mo	$232,500	$182	75
10115 Monte Carmel Pl	0.22mi	3/2.0 (-1)	1,424 (+7%)	2mo	$254,260	$179	72
10011 Monte Carmel Pl	0.28mi	3/2.0 (-1)	1,424 (+7%)	0mo	$244,760	$172	71
1117 King Eider	0.40mi	3/2.0 (-1)	1,412 (+6%)	1mo	$283,990	$201	66
10023 Monte Carmel Pl	0.25mi	3/2.0 (-1)	1,512 (+13%)	1mo	$267,320	$177	60
1113 King Eider	0.40mi	3/2.0 (-1)	1,200 (-10%)	1mo	$259,990	$217	58
2214 Collins Aly	0.60mi	3/2.0 (-1)	1,266 (-5%)	1mo	$198,500	$157	58
9735 Abrams Vw	0.67mi	3/2.0 (-1)	1,402 (+5%)	2mo	$215,999	$154	54
9939 Mather Way	0.70mi	3/2.0 (-1)	1,266 (-5%)	1mo	$195,999	$155	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -30.0%
• Equity multiple: 0.03×
• Total profit: $-71,992
• Equity at exit: $39,473

10-year hold

• IRR: -50.7%
• Equity multiple: -0.54×
• Total profit: $-114,005
• Equity at exit: $22,889

Cash invested: $74,125 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 72 active · 42 under contract
• Months of supply: 7.6 mo (13%/mo absorbed)
• Median asking: $258,445 ($184/sqft)
• Median days on market: 179 d
• This list price: 8% of active listings are priced below it
• ARV vs active asking: +7.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1440
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$1,388
• Tax est. 1.5%: −$331 /mo · $3,971/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $-372

Break-even live

Break-even rent $2,316

Max offer price $210,850

Occupancy floor —

Sensitivity live

Price	-10% $-189	-5% $-281	+0% $-372	+5% $-464	+10% $-555
Rent	-10% $-518	-5% $-445	+0% $-372	+5% $-300	+10% $-227
Rate	-1.0pp $-239	-0.5pp $-305	base $-372	+0.5pp $-441	+1.0pp $-511

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: $66,183
• Closing costs: $7,942
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10323 Monte Carmel Pl Converse, TX	3.0	2.0	1576	$1,615	$1.02	61d	1	0.12mi
10315 Monte Carmel Pl Converse, TX	3.0	2.0	1576	$1,670	$1.06	93d	1	0.13mi
10313 Lassen Park Adkins, TX	3.0	2.5	1470	$1,850	$1.26	42d	1	0.21mi
1215 Vallarta Centro Converse, TX	4.0	2.5	1832	$1,850	$1.01	17d	1	0.27mi
1411 Capitol Reef Adkins, TX	4.0	2.0	1566	$1,695	$1.08	35d	1	0.30mi
1117 King Eider Adkins, TX	3.0	2.0	1412	$1,750	$1.24	13d	1	0.40mi
10406 Sedge Pl Converse, TX	3.0	2.5	1826	$2,100	$1.15	53d	1	0.44mi
2016 Palmer Pl Converse, TX	4.0	2.0	1459	$1,595	$1.09	93d	1	0.49mi
2187 Schuwirth Rd Converse, TX	2.0–4.0	2.0	1085	$1,887	$1.74	9d	1	0.50mi
2025 Palmer Pl Converse, TX	3.0	2.0	1340	$1,495	$1.12	73d	1	0.51mi
10408 Bean Goose Converse, TX	3.0	2.5	1557	$1,800	$1.16	24d	1	0.64mi
2802 Stigler Dr Converse, TX	4.0	2.0	1627	$1,495	$0.92	53d	1	1.08mi
2811 Gustavo Dr Converse, TX	3.0	2.0	1450	$1,750	$1.21	93d	1	1.12mi
2822 Millikan Dr Converse, TX	3.0	2.0	1450	$1,450	$1.00	34d	1	1.12mi
2822 Millikan Dr Converse, TX	3.0	2.0	1440	$1,650	$1.15	73d	1	1.12mi
2819 Gustavo Dr Converse, TX	3.0	2.0	1450	$1,500	$1.03	93d	1	1.14mi
2843 Elion Dr Converse, TX	3.0	2.0	1276	$1,425	$1.12	17d	1	1.14mi
2815 Charpak Dr Converse, TX	4.0	2.0	1627	$1,695	$1.04	52d	1	1.14mi
2906 Millikan Dr Converse, TX	4.0	2.0	1627	$1,450	$0.89	24d	1	1.16mi
2906 Millikan Dr Converse, TX	4.0	2.0	1627	$1,475	$0.91	35d	1	1.16mi
2815 Armaan WAY Converse, TX	3.0	2.5	1401	$1,495	$1.07	9d	1	1.16mi
11026 Yonder Flts Converse, TX	3.0	2.0	1525	$1,725	$1.13	27d	1	1.24mi
11030 Yonder Flts Converse, TX	3.0	2.5	1428	$1,500	$1.05	53d	1	1.24mi
10606 Varmus Dr Converse, TX	3.0	2.0	1440	$1,476	$1.02	42d	1	1.25mi
10538 Varmus Dr Converse, TX	3.0	2.0	1440	$1,550	$1.08	34d	1	1.26mi
10547 Varmus Dr Converse, TX	3.0	2.0	1440	$1,550	$1.08	33d	1	1.29mi
2818 Praline Fry Converse, TX	3.0	2.5	1428	$1,500	$1.05	38d	1	1.30mi
2822 Praline Fry Converse, TX	3.0	2.0	1525	$1,770	$1.16	21d	1	1.31mi
3318 Carducci Dr Converse, TX	3.0	2.0	1276	$1,800	$1.41	93d	1	1.32mi
10714 Giacconi Dr Converse, TX	4.0	2.0	1627	$1,550	$0.95	64d	1	1.33mi
10707 Giacconi Dr Converse, TX	3.0	2.0	1266	$1,686	$1.33	93d	1	1.36mi
10754 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,450	$1.15	73d	1	1.37mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1450	$1,410	$0.97	73d	1	1.38mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1440	$1,476	$1.02	71d	1	1.38mi
10783 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,621	$1.28	9d	1	1.39mi
10755 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,536	$1.21	71d	1	1.39mi
4611 E 1604 N Converse, TX	1.0–4.0	1.0–2.0	990	$1,449	$1.46	9d	1	1.40mi
2939 Gastonian Ml Converse, TX	3.0	2.0	1525	$1,495	$0.98	93d	1	1.41mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	73d	1	1.48mi

Listing history 50 events

1. 2026-08-08
   days on market $218,990 Active 382 DOM
2. 2026-08-06
   days on market $218,990 Active 380 DOM
3. 2026-08-05
   days on market $218,990 Active 379 DOM
4. 2026-08-04
   days on market $218,990 Active 378 DOM
5. 2026-08-03
   days on market $218,990 Active 377 DOM
6. 2026-07-31
   days on market $218,990 Active 374 DOM
7. 2026-07-30
   days on market $218,990 Active 372 DOM
8. 2026-07-28
   days on market $218,990 Active 371 DOM
9. 2026-07-26
   days on market $218,990 Active 369 DOM
10. 2026-07-24
    days on market $218,990 Active 367 DOM
11. 2026-07-23
    days on market $218,990 Active 366 DOM
12. 2026-07-22
    days on market $218,990 Active 365 DOM
13. 2026-07-21
    days on market $218,990 Active 364 DOM
14. 2026-07-20
    days on market $218,990 Active 363 DOM
15. 2026-07-18
    days on market $218,990 Active 361 DOM
16. 2026-07-18
    days on market $218,990 Active 360 DOM
17. 2026-07-16
    days on market $218,990 Active 359 DOM
18. 2026-07-15
    days on market $218,990 Active 358 DOM
19. 2026-07-14
    days on market $218,990 Active 357 DOM
20. 2026-07-13
    days on market $218,990 Active 356 DOM
21. 2026-07-13
    days on market $218,990 Active 355 DOM
22. 2026-07-11
    days on market $218,990 Active 354 DOM
23. 2026-07-10
    days on market $218,990 Active 353 DOM
24. 2026-07-09
    days on market $218,990 Active 352 DOM
25. 2026-07-07
    days on market $218,990 Active 350 DOM
26. 2026-07-06
    days on market $218,990 Active 349 DOM
27. 2026-07-05
    days on market $218,990 Active 348 DOM
28. 2026-07-03
    days on market $218,990 Active 346 DOM
29. 2026-07-02
    days on market $218,990 Active 345 DOM
30. 2026-07-01
    days on market $218,990 Active 344 DOM
31. 2026-06-30
    days on market $218,990 Active 343 DOM
32. 2026-06-29
    days on market $218,990 Active 342 DOM
33. 2026-06-28
    days on market $218,990 Active 341 DOM
34. 2026-06-27
    days on market $218,990 Active 340 DOM
35. 2026-06-26
    days on market $218,990 Active 339 DOM
36. 2026-06-24
    days on market $218,990 Active 337 DOM
37. 2026-06-22
    days on market $218,990 Active 335 DOM
38. 2026-06-21
    days on market $218,990 Active 334 DOM
39. 2026-06-18
    days on market $218,990 Active 331 DOM
40. 2026-06-17
    days on market $218,990 Active 330 DOM
41. 2026-06-16
    days on market $218,990 Active 329 DOM
42. 2026-06-15
    days on market $218,990 Active 328 DOM
43. 2026-06-13
    days on market $218,990 Active 326 DOM
44. 2026-06-09
    days on market $218,990 Active 322 DOM
45. 2026-06-08
    days on market $218,990 Active 321 DOM
46. 2026-06-07
    days on market $218,990 Active 320 DOM
47. 2026-06-04
    days on market $218,990 Active 317 DOM
48. 2026-06-03
    days on market $218,990 Active 316 DOM
49. 2026-06-02
    days on market $218,990 Active 315 DOM
50. 2026-06-01
    days on market $218,990 Active 314 DOM

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

Taxation est. · year 1

• Rental income: $22,134
• − Mortgage interest: −$14,829
• − Property taxes: −$3,971
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$7,701
• Taxable loss: −$9,233
• Est. tax savings @ 24.0%: +$2,216
• After-tax cash flow: $-2,253/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.

Condition & rehab AI · 1 photo

Excellent 95/100 None rehab

This single-family home is in excellent condition with no visible repairs needed. It offers a good return on investment with updates that can significantly increase its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
• Both New kitchen appliances — Enhances functionality and aesthetics ↑
• Both New bathroom fixtures — Enhances functionality and aesthetics ↑

F Composite school gradezoned avg 22/100

Zoned Schools

Middle East Central Heritage Middle F TX #1,478/1,662 Nat'l #12,017/14,009 High East Central H S F TX #1,264/1,632 Nat'l #12,478/17,239

Schools (NCES district)

• District: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 of 826 in TX

C Composite livability gradescore 66/100

Livability — Converse

• Score: 66/100
• State rank: #649
• US rank: #12250

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment B Housing A+ Health & safety F User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bexar County · 2,336,851 people
• City population: 63,067
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 1%

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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: ▼ -51.02%
• Current HPI: 236.4923
• Rent YoY: ▼ -1.08%
• Metro: San Antonio-New Braunfels, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-6.4% since first listed

2 events — show timeline

• 2026-03-28 Price Changed $218,990 Zillow
• 2025-07-23 Listed $233,990 Zillow