216 Milvid

San Antonio, TX 78211

$149,900C-

3 bd · 2.0 ba · 1,394 sqft · Built 2025 · SingleFamily · Active · 195 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,547/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$498
• HOA: −$0
• Vac / Maint / Mgmt: −$325
• Net cashflow: $-62/mo
• Annual: $-742/yr
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• 1% rule: 1.03%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-62 ($-742/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (7.3% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 195 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• In year one you build about $363 of equity ($1k loan paydown + $-673 appreciation (-0.5% 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: crime F.
• Harlandale ISD (urban): math 20% / reading 27% proficiency, ranked #748 of 826 in TX (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Columbia Heights El (math 8% / reading 27%, grade F, #3,833 of 4,322 statewide, top 89%, 320 students, 92% FRL); A Leal Jr Middle (math 16% / reading 25%, grade F, #1,407 of 1,662 statewide, top 86%, 629 students, 90% FRL); Harlandale H S (math 17% / reading 29%, grade F, #1,348 of 1,632 statewide, top 83%, 1,664 students, 82% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.5% of price.
• Market conditions: 162 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $59k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• Cap rate 5.8% 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.
• This rent runs 33% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.
• 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.