3658 Georgia Trce · San Antonio, TX 78109

$231,999

4 bd · 2.5 ba · 1,885 sqft · SingleFamily · 89 Days on market

Built 2024 4,791 sqft lot Est $300k · 23% under $36/mo HOA · 2% of rent ↓ 8% since listing

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Why this score? — see what drove the D+ 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 +15.0/15.0
• Cash flow +12.7/30.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

The Littleton - On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations. Estimated Completion April 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Central game room
• Attached bathroom
• Walk-in closet

Tags

• OWNER'S SUITE
• ATTACHED BATHROOM
• WALK-IN CLOSET
• CENTRAL GAME ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $232k.

Deal economics

• At list price, monthly cash flow is $-26 ($-311/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (12.0% below list).
• Recommended offer: $204k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• 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.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $7k 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 89 days — a 6% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,223 (12.0% 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 89 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $299,715
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3658 Georgia Trce	0.00mi	4/2.5	1,885 (0%)	1mo	$231,999	$123	99
10735 Fairchild Way	0.33mi	4/2.5	1,900 (+1%)	1mo	$301,536	$159	83
11006 Airmen Dr	0.16mi	3/2.5 (-1)	1,802 (-4%)	0mo	$299,990	$166	80
3634 Georgia Trce	0.05mi	4/2.0	1,667 (-12%)	1mo	$223,999	$134	75
11014 Tea Cv	0.06mi	4/2.0	1,667 (-12%)	2mo	$231,999	$139	75
10643 Vinateros Dr	0.38mi	3/2.0 (-1)	1,851 (-2%)	1mo	$199,000	$108	72
4119 Spirit Star Dr	0.35mi	3/2.5 (-1)	1,802 (-4%)	1mo	$299,990	$166	71
10803 Airmen Dr	0.31mi	4/2.5	2,072 (+10%)	0mo	$272,850	$132	69
10734 Francisco Way	0.60mi	3/2.5 (-1)	2,037 (+8%)	1mo	$294,500	$145	53
10759 Francisco Way	0.55mi	3/2.0 (-1)	1,690 (-10%)	1mo	$275,000	$163	49
3007 Heidfeld Ln	0.69mi	4/3.0	2,084 (+11%)	0mo	$370,063	$178	48
11130 Hollinger Cir	0.64mi	3/2.5 (-1)	1,689 (-10%)	1mo	$298,385	$177	47

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: -20.6%
• Equity multiple: 0.30×
• Total profit: $-45,177
• Equity at exit: $34,592

10-year hold

• IRR: -22.7%
• Equity multiple: 0.01×
• Total profit: $-64,381
• Equity at exit: $20,059

Cash invested: $64,960 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1152
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$1,217
• Tax est. 1.5%: −$290 /mo · $3,480/yr
• Insurance: −$97
• HOA: −$36
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-26

Break-even live

Break-even rent $2,075

Max offer price $228,247

Occupancy floor 96%

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: $58,000
• Closing costs: $6,960
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4326 Admirals Bnd Converse, TX	4.0	3.0	2391	$2,350	$0.98	43d	1	0.07mi
4250 Admirals Bnd Converse, TX	4.0	2.0	1602	$1,699	$1.06	23d	1	0.08mi
4303 Brigade Bnd Converse, TX	4.0	2.5	2179	$2,200	$1.01	43d	1	0.16mi
10922 Lockheed Dr Converse, TX	4.0	2.5	2179	$1,995	$0.92	16d	1	0.16mi
10906 Airmen Dr Converse, TX	3.0	2.0	1535	$1,550	$1.01	2d	1	0.18mi
4150 Admirals Bnd Converse, TX	4.0	2.0	1602	$1,750	$1.09	4d	1	0.19mi
11038 Airmen Dr Converse, TX	4.0	2.5	2096	$2,250	$1.07	4d	1	0.22mi
10827 Fox Trot Converse, TX	3.0	2.0	1650	$1,645	$1.00	20d	1	0.24mi
10818 Fox Trot Converse, TX	3.0	2.0	1465	$1,850	$1.26	4d	1	0.26mi
10723 Vinateros Dr Converse, TX	4.0	2.0	1667	$1,776	$1.07	43d	1	0.36mi
3158 Jackson Smt Converse, TX	4.0	2.5	2205	$1,895	$0.86	2d	1	0.42mi
10627 Erinita Way Converse, TX	3.0	2.0	1474	$1,466	$0.99	23d	1	0.45mi
3130 Jackson Smt Converse, TX	3.0	2.5	1428	$1,885	$1.32	4d	1	0.48mi
10679 Penelope Way Converse, TX	4.0	2.5	2455	$2,000	$0.81	43d	1	0.50mi
3103 Jackson Smt Converse, TX	5.0	2.5	2543	$2,000	$0.79	43d	1	0.54mi
10606 Pablo Way Converse, TX	4.0	2.0	1667	$1,736	$1.04	4d	1	0.54mi
10583 Pablo Way Converse, TX	4.0	2.5	2601	$2,200	$0.85	23d	1	0.55mi
3055 Jackson Smt Converse, TX	3.0	2.0	1525	$1,595	$1.05	43d	1	0.56mi
10902 Chatham Ct Converse, TX	5.0	2.5	2543	$2,195	$0.86	43d	1	0.58mi
10819 Juliette Pass Converse, TX	4.0	2.5	2204	$1,745	$0.79	43d	1	0.58mi
10754 Francisco Way Converse, TX	3.0	2.0	1971	$1,875	$0.95	23d	1	0.59mi
10922 Chatham Ct Converse, TX	3.0	2.0	1525	$1,645	$1.08	23d	1	0.61mi
3026 Jackson Smt Converse, TX	4.0	2.5	2204	$1,745	$0.79	43d	1	0.62mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	43d	1	0.62mi
10739 Rosalina Loop Converse, TX	3.0	2.0	1994	$2,100	$1.05	2d	1	0.63mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1709	$1,950	$1.14	21d	1	0.64mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1689	$1,950	$1.15	2d	1	0.64mi
11151 Hollinger Cir Converse, TX	4.0	2.5	1859	$1,705	$0.92	23d	1	0.64mi
4351 W Vasquez Cir Converse, TX	3.0	2.0	1652	$1,850	$1.12	20d	1	0.65mi
3006 Jackson Smt Converse, TX	5.0	2.5	2543	$2,095	$0.82	23d	1	0.66mi
2943 Forsyth Cyn Converse, TX	4.0	2.5	2203	$1,795	$0.81	23d	1	0.67mi
11038 Chatham Ct Converse, TX	4.0	2.5	2205	$1,995	$0.90	12d	1	0.67mi
4331 W Vasquez Cir Converse, TX	4.0	2.0	1925	$1,800	$0.94	17d	1	0.68mi
11002 Eyelet Hbr Converse, TX	4.0	2.5	2204	$1,745	$0.79	43d	1	0.68mi
10930 Juliette Pass Converse, TX	4.0	2.5	2205	$1,850	$0.84	2d	1	0.69mi
3106 Drayton Ests Converse, TX	2.0–5.0	2.0–3.5	1733	$2,293	$1.32	1d	1	0.69mi
11010 Eyelet Hbr Converse, TX	5.0	2.5	2543	$2,200	$0.87	3d	1	0.69mi
2942 Jackson Smt Converse, TX	4.0	2.5	2204	$1,745	$0.79	43d	1	0.70mi
2934 Jackson Smt Converse, TX	4.0	2.5	2204	$2,070	$0.94	43d	1	0.72mi
2935 Jackson Smt Converse, TX	5.0	2.5	2543	$2,200	$0.87	23d	1	0.72mi

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 7 events

1. 2026-04-18
   status Pending
2. 2026-04-09
   price $231,999
3. 2026-04-03
   price $232,999
4. 2026-03-31
   price $234,999
5. 2026-03-18
   price $252,999
6. 2026-03-12
   price $234,999
7. 2026-01-19
   listed $252,999 New

ⓘ 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: $24,507
• − Mortgage interest: −$12,996
• − Property taxes: −$3,480
• − Insurance: −$1,160
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − HOA: −$432
• − Depreciation: −$6,749
• Taxable loss: −$4,231
• Est. tax savings @ 24.0%: +$1,015
• After-tax cash flow: $704/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: 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

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): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 1732.0

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 0.69)
• 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%

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

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

-8.3% since first listed

7 events — show timeline

• 2026-04-18 Pending — LERA
• 2026-04-09 Price Changed $231,999 LERA
• 2026-04-03 Price Changed $232,999 LERA
• 2026-03-31 Price Changed $234,999 LERA
• 2026-03-18 Price Changed $252,999 LERA
• 2026-03-12 Price Changed $234,999 LERA
• 2026-01-19 Listed $252,999 LERA