9305 Dassler Spgs · Converse, TX 78109

$224,999

4 bd · 2.5 ba · 1,885 sqft · SingleFamily · 15 Days on market

Built 2026 Excellent condition 4,791 sqft lot Est $254k · 12% under $32/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).

• Cash flow +14.0/30.0
• ARV discount +12.7/15.0
• Condition / age +4.8/5.0
• DSCR +4.2/10.0
• 1% rule +4.1/10.0
• Livability +3.3/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• 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 May 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 $225k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $28 ($333/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (9.2% below list).
• Recommended offer: $204k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.4% in Converse — 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 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.
• Judson ISD (suburban): math 21% / reading 33% proficiency, ranked #660 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Converse El (math 21% / reading 30%, grade F, #2,982 of 4,322 statewide, top 70%, 604 students, 63% FRL); Judson Middle (math 21% / reading 34%, grade F, #1,156 of 1,662 statewide, top 71%, 1,259 students, 70% FRL); Judson H S (math 19% / reading 38%, grade F, #1,157 of 1,632 statewide, top 72%, 2,666 students, 62% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1219 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 15 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,392 (9.2% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $254,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9305 Dassler Spgs	0.00mi	4/2.5	1,885 (0%)	1mo	$224,999	$119	99
6624 Titan Park	0.03mi	3/2.0 (-1)	1,904 (+1%)	1mo	$266,999	$140	89
6514 Titan Park	0.10mi	3/2.0 (-1)	1,904 (+1%)	1mo	$265,000	$139	86
9410 Dassler Spgs	0.09mi	4/3.0	2,024 (+7%)	1mo	$264,999	$131	80
9411 Dassler Spgs	0.09mi	4/3.0	2,024 (+7%)	4mo	$274,999	$136	78
9415 Dassler Spgs	0.10mi	4/3.0	2,024 (+7%)	4mo	$264,999	$131	78
6722 Shiraz Way	0.15mi	3/2.0 (-1)	1,973 (+5%)	4mo	$218,000	$110	75
9422 Nubuck Br	0.45mi	4/2.0	1,849 (-2%)	3mo	$369,900	$200	71
6643 Titan Park	0.06mi	4/3.5	2,149 (+14%)	5mo	$290,999	$135	66
6510 Titan Park	0.11mi	4/3.5	2,149 (+14%)	5mo	$273,999	$128	64
9207 Crestway Rd	0.17mi	3/2.0 (-1)	1,634 (-13%)	2mo	$250,999	$154	61
9111 Spigel Way	0.34mi	3/2.5 (-1)	2,082 (+10%)	3mo	$240,000	$115	59

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: -18.9%
• Equity multiple: 0.36×
• Total profit: $-40,630
• Equity at exit: $33,548

10-year hold

• IRR: -19.4%
• Equity multiple: 0.11×
• Total profit: $-56,045
• Equity at exit: $19,454

Cash invested: $63,000 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1219
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$32
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $28

Break-even live

Break-even rent $2,009

Max offer price $224,999

Occupancy floor 94%

Sensitivity live

Price	-10% $183	-5% $106	+0% $28	+5% $-50	+10% $-128
Rent	-10% $-134	-5% $-53	+0% $28	+5% $109	+10% $189
Rate	-1.0pp $141	-0.5pp $85	base $28	+0.5pp $-31	+1.0pp $-90

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9338 Espadrille Run Converse, TX	5.0	2.5	2543	$2,197	$0.86	26d	1	0.19mi
9219 Foxing Blfs Converse, TX	3.0	2.0	1526	$1,850	$1.21	26d	1	0.20mi
9234 Foxing Blfs Converse, TX	3.0	2.5	1414	$1,825	$1.29	5d	1	0.23mi
9206 Foxing Blfs Converse, TX	5.0	2.5	2544	$2,295	$0.90	26d	1	0.24mi
9219 Bennett Frst Converse, TX	3.0	2.0	1526	$1,900	$1.25	46d	1	0.24mi
9310 Bennett Frst Converse, TX	4.0	2.5	2198	$2,300	$1.05	20d	1	0.24mi
9334 Aniston Blf Converse, TX	4.0	2.5	2243	$2,200	$0.98	6d	1	0.29mi
6426 Thorpe Holw Converse, TX	3.0	2.5	1414	$1,600	$1.13	26d	1	0.31mi
9142 Canvas Run Converse, TX	5.0	3.0	2544	$2,595	$1.02	18d	1	0.32mi
9335 Nubuck Br Converse, TX	4.0	2.5	2243	$2,095	$0.93	46d	1	0.34mi
9019 Gore Cres Converse, TX	3.0–5.0	2.0–3.5	2058	$2,590	$1.26	0d	1	0.35mi
9310 Nubuck Br Converse, TX	3.0	2.0	1525	$1,895	$1.24	6d	1	0.36mi
6414 Kensinger Pass Converse, TX	3.0	2.5	1582	$2,100	$1.33	46d	1	0.48mi
326 Diana Dr Converse, TX	4.0	2.5	2422	$1,800	$0.74	26d	1	0.50mi
6610 Eastern Clouds Converse, TX	3.0	2.0	1496	$1,610	$1.08	1d	1	0.52mi
6326 Kensinger Pass Converse, TX	4.0	2.5	2278	$1,800	$0.79	17d	1	0.52mi
10814 Lillia BR San Antonio, TX	3.0	2.0	1266	$1,600	$1.26	46d	1	0.56mi
9714 Autumn Holw Converse, TX	3.0	2.0	1529	$1,650	$1.08	26d	1	0.57mi
8818 Slumber Ln Converse, TX	3.0	2.0	1259	$1,700	$1.35	4d	1	0.57mi
8827 Slumber Ln Converse, TX	3.0	2.0	1292	$2,000	$1.55	46d	1	0.59mi
313 Renee Dr Converse, TX	3.0	3.0	1884	$1,650	$0.88	26d	1	0.59mi
317 Vivian Dr Converse, TX	3.0	2.0	1454	$1,650	$1.13	5d	1	0.64mi
8914 Kestrel Oak Converse, TX	3.0	2.5	1582	$1,600	$1.01	26d	1	0.65mi
6606 Highland Grass Converse, TX	4.0	2.5	2278	$1,800	$0.79	46d	1	0.70mi
9818 Copper Rose Converse, TX	4.0	2.5	2030	$2,075	$1.02	0d	1	0.70mi
8818 Kestrel Oak Converse, TX	3.0	2.5	1972	$1,525	$0.77	46d	1	0.76mi
7038 Cole Creek Dr Converse, TX	3.0	2.5	1582	$1,695	$1.07	26d	1	0.77mi
6911 Waterfall Pass Converse, TX	5.0	2.5	2109	$1,840	$0.87	46d	1	0.78mi
9711 Copper Rock Converse, TX	3.0	2.0	1327	$1,645	$1.24	46d	1	0.79mi
8732 Seneca Crk Converse, TX	3.0	2.5	1582	$1,445	$0.91	46d	1	0.79mi
8206 Longhorn Ridge Dr Converse, TX	3.0	2.0	1386	$1,525	$1.10	5d	1	0.79mi
7306 Autumn Brk Converse, TX	3.0	2.5	1996	$1,519	$0.76	6d	1	0.79mi
6123 Ironmill Crk Converse, TX	3.0	2.0	1590	$1,595	$1.00	46d	1	0.81mi
6027 Kensinger Pass Converse, TX	3.0	2.0	1332	$1,480	$1.11	6d	1	0.81mi
6863 Cypress Mist Dr Converse, TX	3.0	2.0	1735	$1,550	$0.89	13d	1	0.82mi
9503 Copper Mist Converse, TX	3.0	2.5	2440	$1,850	$0.76	46d	1	0.83mi
9619 Copper Rock Converse, TX	3.0	2.0	1301	$1,700	$1.31	46d	1	0.83mi
6870 Flaming Ridge Dr Converse, TX	3.0	2.0	1698	$1,695	$1.00	26d	1	0.85mi
6870 Flaming Ridge Dr Converse, TX	3.0	2.5	1698	$1,695	$1.00	15d	1	0.85mi
9213 Groff Lndg Converse, TX	3.0	2.0	1344	$1,600	$1.19	13d	1	0.86mi

HOA detail

• Monthly dues: $32 · $384/yr

Listing history 8 events

1. 2026-04-27
   status Pending
2. 2026-04-25
   price $224,999
3. 2026-04-22
   price $233,999
4. 2026-04-21
   price $253,999
5. 2026-04-20
   status Back on Market
6. 2026-03-07
   status Pending
7. 2026-02-28
   price $239,999
8. 2026-02-26
   listed $243,999 New

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,527
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − HOA: −$384
• − Depreciation: −$6,545
• Taxable loss: −$3,430
• Est. tax savings @ 24.0%: +$823
• After-tax cash flow: $1,157/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs needed. It offers a modern and well-maintained interior and exterior, making it a great investment for both resale and rental purposes.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both Adding smart home features — Improves convenience and can increase both resale and rental value.
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Adding smart home features — Improves convenience and can increase both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Judson ISD
• NCES district ID: 4824990
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $57,542
• Composite: 24.39/100
• National rank: #7689
• State rank: #660 of 826 in TX

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

• Census place: Converse, TX
• County: Bexar County · 1,990,555 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: 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

-7.8% since first listed

8 events — show timeline

• 2026-04-27 Pending — LERA
• 2026-04-25 Price Changed $224,999 LERA
• 2026-04-22 Price Changed $233,999 LERA
• 2026-04-21 Price Changed $253,999 LERA
• 2026-04-20 Relisted — LERA
• 2026-03-07 Pending — LERA
• 2026-02-28 Price Changed $239,999 LERA
• 2026-02-26 Listed $243,999 LERA