225 Joy St · San Antonio, TX 78212

$75,000

2 bd · 1.0 ba · 600 sqft · SingleFamily public records · 48 Days on market

Built 1945 5,227 sqft lot $125/sqft · 52% below area

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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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This is an Investor Special.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1945

Property features AI

Finance

• Other: Possession at closing/funding; For sale
• Financial info: Down payment resources available
• HOA & community: Subdivision: KENWOOD (Kenwood/Zilla)

Exterior

• Parking: 1-car garage with side entry
• Utilities: Water service (SAWS); Sewer service (SAWS); Electric service (CPS); Gas service (CPS)
• Home design: Pre-owned single-family style; Composition roof; Wood and aluminum exterior
• Construction: Approximately 81 years old
• Exterior features: Park/playground nearby

Interior

• Kitchen: Kitchen (10 x 9)
• Bedrooms: Master bedroom on lower level (10 x 9); Second bedroom (8 x 8)
• Flooring: Carpeting; Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Electric heat (window unit); One window A/C
• Interior features: Open floor plan; One living area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: 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: Rogers Academy (math 5% / reading 17%, grade F, #4,237 of 4,322 statewide, top 98%, 695 students, 93% FRL); Edison H S (math 14% / reading 24%, grade F, #1,431 of 1,632 statewide, top 88%, 1,329 students, 90% FRL).
• Market conditions: Rents flat; 186 active listings in the ZIP; 30 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 48 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1945 — 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.40% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.50%
• DSCR: 1.51
• GRM: 6.0

CMA / ARV

• ARV (median comp): $154,680
• List price: $75,000
• Delta: -51.51%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-1,434
• Equity at exit: $11,183

10-year hold

• IRR: 5.1%
• Equity multiple: 1.33×
• Total profit: $7,023
• Equity at exit: $6,485

Cash invested: $21,000 (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 78212

• Home prices YoY: -25.2%
• Rents YoY: 0.9%
• Active inventory: 186
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,046 high
• Mortgage (P&I): −$393
• Tax from tax record: −$201 /mo · $2,411/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $201

Break-even live

Break-even rent $792

Max offer price $75,000

Occupancy floor 76%

Sensitivity live

Price	-10% $244	-5% $222	+0% $201	+5% $180	+10% $159
Rent	-10% $119	-5% $160	+0% $201	+5% $243	+10% $284
Rate	-1.0pp $239	-0.5pp $220	base $201	+0.5pp $182	+1.0pp $162

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Dora St Unit 2 San Antonio, TX	1.0	1.0	494	$925	$1.87	0d	1	0.28mi
130 Melrose Pl San Antonio, TX	3.0	1.0–2.5	1230	$1,542	$1.25	4d	22	0.65mi
137 E Norwood Ct Unit 8 San Antonio, TX	1.0	1.0	450	$825	$1.83	25d	1	0.69mi
137 E Norwood Ct Unit 8 San Antonio, TX	1.0	1.0	450	$825	$1.83	23d	1	0.69mi
130 W Norwood Ct Unit 3 San Antonio, TX	2.0	1.0	729	$1,295	$1.78	45d	1	0.71mi
1045 Shook Ave San Antonio, TX	1.0	1.0	530	$794	$1.50	0d	2	0.81mi
815 W Olmos Dr Unit 815 San Antonio, TX	2.0	1.0	750	$850	$1.13	45d	1	0.86mi
808 W Olmos Dr San Antonio, TX	2.0	1.0	750	$1,024	$1.37	5d	1	0.87mi
810 W Olmos Dr San Antonio, TX	2.0	1.0	750	$1,049	$1.40	25d	1	0.88mi
203 E Rosewood Ave San Antonio, TX	1.0	1.0	395	$950	$2.41	25d	1	0.89mi
3518 Grant Ave Unit 223 San Antonio, TX	1.0	1.0	545	$630	$1.16	14d	1	0.90mi
3518 Grant Ave Unit 321 San Antonio, TX	1.0	1.0	545	$630	$1.16	45d	1	0.90mi
218 E Rosewood Ave Unit 3 San Antonio, TX	1.0	1.0	750	$1,025	$1.37	25d	1	0.94mi
311 E Rosewood Ave Unit 311-R 103 San Antonio, TX	1.0	1.0	426	$750	$1.76	45d	1	0.96mi
403 W Hollywood Ave Unit 1 San Antonio, TX	1.0	1.0	600	$1,200	$2.00	4d	1	0.98mi
1039 Edison Dr Unit 2 (backhouse) San Antonio, TX	1.0	1.0	600	$850	$1.42	17d	1	0.99mi
401 W Lynwood Ave Apt 2 San Antonio, TX	1.0	1.0	750	$1,000	$1.33	45d	1	1.04mi
119 Venice San Antonio, TX	2.0	1.0	732	$1,350	$1.84	4d	1	1.07mi
526 W Lynwood Ave San Antonio, TX	1.0	1.0	560	$950	$1.70	25d	1	1.12mi
1221 W Thorain Blvd San Antonio, TX	1.0	1.0	400	$950	$2.38	0d	1	1.18mi
1417 E Olmos Dr San Antonio, TX	2.0	1.0	640	$1,075	$1.68	5d	1	1.20mi
215 Jackson Keller Rd Unit 216 San Antonio, TX	1.0	1.0	635	$990	$1.56	45d	1	1.25mi
614 Fulton Ave #2 San Antonio, TX	1.0	1.0	700	$999	$1.43	45d	1	1.25mi
905 W Lynwood Ave #3 San Antonio, TX	1.0	1.0	476	$695	$1.46	45d	1	1.27mi
2551 San Pedro Ave Unit 209 San Antonio, TX	1.0	1.0	662	$895	$1.35	12d	1	1.30mi
2551 San Pedro Ave Unit 209 San Antonio, TX	1.0	1.0	662	$895	$1.35	5d	1	1.30mi
6822 Basilwood Dr San Antonio, TX	1.0	1.0	606	$750	$1.24	25d	1	1.41mi
643 W Summit Ave Unit 12 San Antonio, TX	1.0	1.0	549	$675	$1.23	45d	1	1.42mi
1417 W Olmos Dr San Antonio, TX	2.0	1.0	640	$1,075	$1.68	5d	1	1.42mi
230 E Mulberry Ave Unit 2 San Antonio, TX	2.0	1.0	600	$825	$1.38	21d	1	1.50mi

Listing history 19 events

1. 2026-06-21
   days on market $75,000 Active 48 DOM
2. 2026-06-18
   days on market $75,000 Active 45 DOM
3. 2026-06-17
   days on market $75,000 Active 44 DOM
4. 2026-06-16
   days on market $75,000 Active 43 DOM
5. 2026-06-15
   days on market $75,000 Active 42 DOM
6. 2026-06-13
   days on market $75,000 Active 40 DOM
7. 2026-06-09
   days on market $75,000 Active 36 DOM
8. 2026-06-08
   days on market $75,000 Active 35 DOM
9. 2026-06-07
   days on market $75,000 Active 34 DOM
10. 2026-06-04
    days on market $75,000 Active 31 DOM
11. 2026-06-03
    days on market $75,000 Active 30 DOM
12. 2026-06-02
    days on market $75,000 Active 29 DOM
13. 2026-06-01
    days on market $75,000 Active 28 DOM
14. 2026-05-31
    days on market $75,000 Active 27 DOM
15. 2026-05-04
    listed $75,000 New 28-char remark
16. 2003-06-10
    soldstatus
17. 2002-12-12
    soldstatus
18. 2002-11-19
    soldstatus
19. 2002-09-16
    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: $2,411 · $201/mo
• Projected year-2 tax: $2,411 · $201/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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,557
• − Mortgage interest: −$4,201
• − Property taxes: −$2,411
• − Insurance: −$375
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$2,182
• Taxable income: $1,379
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $2,083/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): 27,437
• Household income: $62,801
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 1505.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 58% White 34% Two or more races 34% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 13% · Canada, China
• Languages at home: 62% English-only · Spanish 36% 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: ▼ -94.24%
• Current HPI: 280.1006
• Rent YoY: ▲ 0.89%
• 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 events — show timeline

• 2026-05-04 Listed $75,000 LERA
• 2003-06-10 Sold (Public Records) — Public Records
• 2002-12-12 Sold (Public Records) — Public Records
• 2002-11-19 Sold (Public Records) — Public Records
• 2002-09-16 Sold (Public Records) — Public Records

Property tax history

+7.6%/yr

Latest (2025): $2,411 · -2.5% YoY. Source: county tax records.