7150 Magnolia Crk

San Antonio, TX 78252

$405,990C-

6 bd · 4.0 ba · 2,526 sqft · Built 2026 · MultiFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,499/mo
• Mortgage (P&I): −$2,129
• Tax + insurance: −$677
• HOA: −$83
• Vac / Maint / Mgmt: −$735
• Net cashflow: $-124/mo
• Annual: $-1,494/yr
• Cap rate: 5.92%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• 1% rule: 0.86%
• Cash to close: $113,677

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $406k. Condition is rated excellent.
• At list price, monthly cash flow is $-124 ($-1k/yr) — negative. Per door: $-62/mo.
• To cash-flow at today's rent, offer at most $388k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (13.8% below list).
• It's been on market 93 days — a 9% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $350k (13.8% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($3k loan paydown + $-7 appreciation (-0.0% local appreciation)).
• 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.
• Southwest ISD (rural): math 21% / reading 31% proficiency, ranked #701 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.7%/yr); 537 active listings in the ZIP; solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 9, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.9% 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.
• At $3,499/mo this rent would consume 49% of the median local household income ($86k/yr) (locally 152% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?