1102 Morning Spg · Timberwood Park, TX 78260

$409,900

5 bd · 3.0 ba · 3,020 sqft · SingleFamily public records · 60 Days on market

Built 2006 7,579 sqft lot $136/sqft · 14% below area Est $475k · 14% under $127/mo HOA · 4% of rent ↓ 1% 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 +13.7/15.0
• Cash flow +7.7/30.0
• Schools +5.2/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

"The Enclave at Canyon Springs" Come see the pride of home ownership in this beautiful 5 bedroom, 3 bath, 2 car garage, Approx 3,020 square feet, Corner Lot, Grand staircase at entrance, Formal dining room, Island kitchen with granite counter tops, Spacious living area and breakfast room overlooking beautiful back yard. Separate bedroom downstairs, and full hallway bath, Upstairs offers a spacious family room, Good sized primary bedroom, Primary bath tub and separate shower, dual vanity and good sized walk in closet, 3 spare bedrooms and another full bath, Covered and extended back patio, Carpet was replaced about a month ago, Water softener, this corner lot also has mature trees, Sprinkler system and is located near Canyon Golf Road and Lookout Road and near Canyon Springs Golf Course

Key facts

• 7,579 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $410k.

Deal economics

• At list price, monthly cash flow is $-482 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (29.5% below list).
• Recommended offer: $289k (29.5% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.8% in Timberwood Park — 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 (#607 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living D, amenities F, commute F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mh Specht El (math 52% / reading 56%, grade C, #664 of 4,322 statewide, top 16%, 802 students, 28% FRL); Spring Branch Middle (math 61% / reading 61%, grade B+, #145 of 1,662 statewide, top 9%, 578 students, 27% FRL); Smithson Valley H S (math 57% / reading 77%, grade B, #163 of 1,632 statewide, top 11%, 2,332 students, 17% FRL).
• Market conditions: Rents rising (+3.0%/yr); 408 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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 60 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $288,966 (29.5% 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 60 days. Have you received any prior offers? Is the seller open to a 30% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 11.8

CMA / ARV

• ARV (median comp): $474,911
• List price: $409,900
• Delta: -13.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203 Ganton Ln	0.23mi	4/3.0 (-1)	3,036 (+0%)	0mo	$374,900	$123	83
1417 Tanager Ct	0.36mi	4/3.0 (-1)	3,007 (-0%)	3mo	$510,000	$170	75
25916 Stone Cyn	0.35mi	4/2.5 (-1)	3,087 (+2%)	2mo	$490,000	$159	71
26111 Starling Hl	0.26mi	4/3.0 (-1)	2,699 (-11%)	5mo	$460,000	$170	61
1450 Sparrow Song	0.42mi	4/2.5 (-1)	2,776 (-8%)	1mo	$440,000	$159	59
1606 Lookout Frst	0.59mi	4/3.5 (-1)	3,141 (+4%)	1mo	$459,000	$146	58
1018 Tumbling Oaks	0.59mi	4/3.0 (-1)	2,761 (-9%)	1mo	$410,000	$148	52
955 Vista Serena	0.39mi	4/3.0 (-1)	2,597 (-14%)	5mo	$525,000	$202	50
1852 Lookout Frst	0.71mi	4/3.5 (-1)	3,209 (+6%)	1mo	$530,000	$165	48
25518 Coronado Blf	0.40mi	4/3.5 (-1)	3,462 (+15%)	5mo	$600,000	$173	46
1030 Toad Pond	0.56mi	4/3.0 (-1)	2,641 (-12%)	5mo	$439,900	$167	44
930 Dulce Vis	0.57mi	4/4.0 (-1)	3,472 (+15%)	5mo	$685,000	$197	36

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 · 3.01% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.15×
• Total profit: $-97,059
• Equity at exit: $61,117

10-year hold

• IRR: -20.6%
• Equity multiple: -0.08×
• Total profit: $-123,881
• Equity at exit: $35,441

Cash invested: $114,772 (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 78260

• Home prices YoY: -20.1%
• Rents YoY: 3.0%
• Active inventory: 408
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,890 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$317 /mo · $3,804/yr
• Insurance: −$171
• HOA: −$127
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $-482

Break-even live

Break-even rent $3,499

Max offer price $324,838

Occupancy floor —

Sensitivity live

Price	-10% $-249	-5% $-366	+0% $-482	+5% $-598	+10% $-714
Rent	-10% $-710	-5% $-596	+0% $-482	+5% $-367	+10% $-253
Rate	-1.0pp $-275	-0.5pp $-377	base $-482	+0.5pp $-588	+1.0pp $-696

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: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Mineral Hls San Antonio, TX	4.0	3.5	2549	$2,750	$1.08	4d	1	0.05mi
26123 Destiny Rdg Unit Labs San Antonio, TX	5.0	3.5	3074	$2,999	$0.98	12d	1	0.20mi
26002 Meadowlark Bay San Antonio, TX	4.0	2.5	2642	$2,950	$1.12	19d	1	0.26mi
714 Misty Water Ln San Antonio, TX	4.0	3.5	3004	$3,850	$1.28	0d	1	0.57mi
1507 Lookout Pt San Antonio, TX	4.0	3.0	3193	$2,800	$0.88	25d	1	0.58mi
25427 Bunker Dr San Antonio, TX	5.0	4.0	3842	$3,650	$0.95	13d	1	0.61mi
1619 Spice Spg San Antonio, TX	4.0	2.5	2336	$2,385	$1.02	0d	1	0.66mi
1648 Mason King San Antonio, TX	4.0	2.5	2740	$2,195	$0.80	0d	1	0.71mi
26714 Sunstream Way San Antonio, TX	4.0	2.5	2454	$2,800	$1.14	23d	1	0.80mi
25610 Crimson Beauty San Antonio, TX	4.0	3.0	2740	$2,125	$0.78	4d	1	0.83mi
24922 Shinnecock Trl San Antonio, TX	4.0	2.0	2495	$2,900	$1.16	6d	1	0.92mi
27018 Rustic Cabin San Antonio, TX	5.0	3.5	3030	$2,500	$0.83	0d	1	1.06mi
24919 Birdie Rdg San Antonio, TX	4.0	4.5	4364	$5,400	$1.24	6d	1	1.09mi
26144 Amber Sky San Antonio, TX	4.0	3.5	3744	$2,795	$0.75	45d	1	1.14mi
602 Trinity Mdw San Antonio, TX	4.0	2.5	2390	$2,500	$1.05	4d	1	1.17mi
1215 Via Se Villa San Antonio, TX	5.0	4.0	3595	$5,000	$1.39	5d	1	1.20mi
27327 Lasso Bnd San Antonio, TX	4.0	3.0	2686	$2,100	$0.78	25d	1	1.22mi
815 Cactus Star San Antonio, TX	4.0	3.5	2313	$2,275	$0.98	45d	1	1.38mi
24345 Wilderness Oak San Antonio, TX	1.0–4.0	1.0–3.0	1623	$2,995	$1.85	6d	29	1.39mi

HOA detail

• Monthly dues: $127 · $1,524/yr
• Likely covers: water

Listing history 13 events

1. 2026-06-15
   statusdays on market $409,900 Pending 60 DOM
2. 2026-06-13
   days on market $409,900 Active Option 59 DOM
3. 2026-06-09
   days on market $409,900 Active Option 55 DOM
4. 2026-06-08
   days on market $409,900 Active Option 54 DOM
5. 2026-06-07
   statusdays on market $409,900 Active Option 53 DOM
6. 2026-06-04
   days on market $409,900 Price Change 50 DOM
7. 2026-06-03
   days on market $409,900 Price Change 49 DOM
8. 2026-06-02
   days on market $409,900 Price Change 48 DOM
9. 2026-06-02
   pricestatus $409,900 Price Change 47 DOM
10. 2026-06-01
    days on market $419,900 Active 47 DOM
11. 2026-05-31
    days on market $419,900 Active 46 DOM
12. 2026-04-30
    price $419,900 809-char remark

    Show marketing remark (809 chars)

    "The Enclave at Canyon Springs" Come see the pride of home ownership in this beautiful 5 bedroom, 3 bath, 2 car garage, Approx 3,020 square feet, Corner Lot, Grand staircase at entrance, Formal dining room, Island kitchen with granite counter tops, Spacious living area and breakfast room overlooking beautiful back yard. Separate bedroom downstairs, and full hallway bath, Upstairs offers a spacious family room, Good sized primary bedroom, Primary bath tub and separate shower, dual vanity and good sized walk in closet, 3 spare bedrooms and another full bath, Covered and extended back patio, Carpet was replaced about a month ago, Water softener, this corner lot also has mature trees, Sprinkler system and is located near Canyon Golf Road and Lookout Road and near Canyon Springs Golf Course

13. 2026-04-15
    listed $425,900 New 809-char remark

    Show marketing remark (809 chars)

    "The Enclave at Canyon Springs" Come see the pride of home ownership in this beautiful 5 bedroom, 3 bath, 2 car garage, Approx 3,020 square feet, Corner Lot, Grand staircase at entrance, Formal dining room, Island kitchen with granite counter tops, Spacious living area and breakfast room overlooking beautiful back yard. Separate bedroom downstairs, and full hallway bath, Upstairs offers a spacious family room, Good sized primary bedroom, Primary bath tub and separate shower, dual vanity and good sized walk in closet, 3 spare bedrooms and another full bath, Covered and extended back patio, Carpet was replaced about a month ago, Water softener, this corner lot also has mature trees, Sprinkler system and is located near Canyon Golf Road and Lookout Road and near Canyon Springs Golf Course

ⓘ 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: $3,804 · $317/mo
• Projected year-2 tax: $7,501 · $625/mo
• Expected delta: +$3,697/yr (+$308/mo · 97.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $34,676
• − Mortgage interest: −$22,961
• − Property taxes: −$3,804
• − Insurance: −$2,050
• − Repairs & maintenance: −$2,774
• − Management: −$2,774
• − HOA: −$1,524
• − Depreciation: −$11,924
• Taxable loss: −$13,135
• Est. tax savings @ 24.0%: +$3,152
• After-tax cash flow: $-2,626/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: Comal ISD
• NCES district ID: 4814730
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $74,792
• Composite: 51.79/100
• National rank: #1671
• State rank: #58 of 826 in TX

Livability — Timberwood Park

• Score: 66/100
• State rank: #607
• US rank: #11535

Category grades

Amenities F Commute F Cost of living D Crime A Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Timberwood Park, TX
• County: Bexar County · 1,990,555 people
• City population: 37,389
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 38,023
• Household income: $154,590
• Rent vs Own: 13.1% rent · 86.9% own
• Severe rent burden: 347.0

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 0.63)
• Race & ethnicity: White 49% Hispanic / Latino 35% Two or more races 21% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 27% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 15% · Canada, China, Guatemala
• Languages at home: 75% English-only · Spanish 17% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -60.42%
• Current HPI: 240.044
• Rent YoY: ▲ 3.01%
• 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

-1.4% since first listed

2 events — show timeline

• 2026-04-30 Price Changed $419,900 LERA
• 2026-04-15 Listed $425,900 LERA

Property tax history

+6.6%/yr

Latest (2025): $3,804 · -52.9% YoY. Source: county tax records.