12047 Overton Way

San Antonio, TX 78221

$213,000D-

3 bd · 2.0 ba · 1,276 sqft · Built 2021 · SingleFamily · Active · 179 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,642/mo
• Mortgage (P&I): −$1,117
• Tax + insurance: −$460
• HOA: −$29
• Vac / Maint / Mgmt: −$345
• Net cashflow: $-309/mo
• Annual: $-3,705/yr
• Cap rate: 4.55%
• Cash-on-cash: -6.21%
• DSCR: 0.72
• 1% rule: 0.77%
• Cash to close: $59,640

Investor read

• This is a 3-bed/2.0-bath single-family listed at $213k.
• At list price, monthly cash flow is $-309 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (25.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (22.9% below list).
• It's been on market 179 days — a 12% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (25.6% below list) — sets the bar for cash-flow.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.0% 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: crime F.
• Southside ISD (rural): math 16% / reading 25% proficiency, ranked #771 of 826 in TX (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: W M Pearce Pri (math 20% / reading 22%, grade F, #3,492 of 4,322 statewide, top 81%, 466 students, 90% FRL); Julius L Matthey Middle (math 17% / reading 25%, grade F, #1,387 of 1,662 statewide, top 85%, 604 students, 92% FRL); Southside H S (math 18% / reading 25%, grade F, #1,377 of 1,632 statewide, top 85%, 1,685 students, 85% FRL).
• Market conditions: Rents falling (-7.2%/yr); 389 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• This rent runs 31% of the median local income ($64k/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 179 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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.