3218 Gilbert Gdn · San Antonio, TX 78109

$217,999

4 bd · 2.0 ba · 1,667 sqft · SingleFamily · 65 Days on market

Built 2026 Excellent condition 4,791 sqft lot $131/sqft · at area comps Est $223k · at est. $37/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 +13.0/30.0
• ARV discount +8.6/15.0
• Condition / age +5.0/5.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• DSCR +3.9/10.0
• Rent growth +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $218k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-12 ($-142/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (11.1% below list).
• Recommended offer: $194k (11.1% 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: 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.
• Zoned schools: East Central Heritage Middle (math 11% / reading 26%, grade F, #1,478 of 1,662 statewide, top 90%, 1,120 students, 44% FRL); East Central H S (math 21% / reading 28%, grade F, #1,264 of 1,632 statewide, top 82%, 3,252 students, 52% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1207 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 65 days — a 6% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $193,882 (11.1% 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 65 days. Have you received any prior offers? Is the seller open to a 11% 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: 0.89% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 9.4

CMA / ARV

• ARV (median comp): $223,422
• List price: $217,999
• Delta: -2.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10759 Francisco Way	0.31mi	3/2.0 (-1)	1,690 (+1%)	1mo	$275,000	$163	78
11130 Hollinger Cir	0.43mi	3/2.5 (-1)	1,689 (+1%)	1mo	$298,385	$177	70
11011 Airmen Dr	0.48mi	4/2.0	1,585 (-5%)	1mo	$279,990	$177	69
10643 Vinateros Dr	0.27mi	3/2.0 (-1)	1,851 (+11%)	1mo	$199,000	$108	64
3658 Georgia Trce	0.31mi	4/2.5	1,885 (+13%)	1mo	$231,999	$123	61
10735 Fairchild Way	0.28mi	4/2.5	1,900 (+14%)	1mo	$301,536	$159	61
10423 Francisco Way	0.67mi	3/2.0 (-1)	1,636 (-2%)	0mo	$225,000	$138	60
4119 Spirit Star Dr	0.41mi	3/2.5 (-1)	1,802 (+8%)	1mo	$299,990	$166	59
11006 Airmen Dr	0.44mi	3/2.5 (-1)	1,802 (+8%)	0mo	$299,990	$166	59
10411 Francisco	0.70mi	3/2.0 (-1)	1,636 (-2%)	1mo	$249,900	$153	58
10839 Monterey	0.23mi	3/2.5 (-1)	1,428 (-14%)	1mo	$215,000	$151	58
10415 Mcclintock	0.67mi	3/2.0 (-1)	1,450 (-13%)	1mo	$184,900	$128	42

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: -20.2%
• Equity multiple: 0.32×
• Total profit: $-41,711
• Equity at exit: $32,504

10-year hold

• IRR: -21.9%
• Equity multiple: 0.03×
• Total profit: $-59,043
• Equity at exit: $18,849

Cash invested: $61,040 (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: 1207
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,939 high
• Mortgage (P&I): −$1,143
• Tax est. 1.5%: −$272 /mo · $3,270/yr
• Insurance: −$91
• HOA: −$37
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-12

Break-even live

Break-even rent $1,954

Max offer price $216,281

Occupancy floor 96%

Sensitivity live

Price	-10% $139	-5% $63	+0% $-12	+5% $-87	+10% $-163
Rent	-10% $-165	-5% $-88	+0% $-12	+5% $65	+10% $141
Rate	-1.0pp $98	-0.5pp $44	base $-12	+0.5pp $-68	+1.0pp $-126

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3158 Jackson Smt Converse, TX	4.0	2.5	2205	$1,895	$0.86	3d	1	0.13mi
4150 Admirals Bnd Converse, TX	4.0	2.0	1602	$1,750	$1.09	6d	1	0.15mi
3130 Jackson Smt Converse, TX	3.0	2.5	1428	$1,885	$1.32	6d	1	0.18mi
10723 Vinateros Dr Converse, TX	4.0	2.0	1667	$1,776	$1.07	45d	1	0.18mi
10690 Pablo Way Converse, TX	3.0	2.0	1207	$1,650	$1.37	45d	1	0.20mi
10922 Lockheed Dr Converse, TX	4.0	2.5	2179	$1,995	$0.92	18d	1	0.22mi
3055 Jackson Smt Converse, TX	3.0	2.0	1525	$1,595	$1.05	45d	1	0.27mi
4250 Admirals Bnd Converse, TX	4.0	2.0	1602	$1,699	$1.06	25d	1	0.27mi
10819 Juliette Pass Converse, TX	4.0	2.5	2204	$1,745	$0.79	45d	1	0.28mi
10627 Erinita Way Converse, TX	3.0	2.0	1474	$1,466	$0.99	25d	1	0.30mi
10922 Chatham Ct Converse, TX	3.0	2.0	1525	$1,645	$1.08	25d	1	0.32mi
3026 Jackson Smt Converse, TX	4.0	2.5	2204	$1,745	$0.79	45d	1	0.32mi
4303 Brigade Bnd Converse, TX	4.0	2.5	2179	$2,200	$1.01	45d	1	0.32mi
10754 Francisco Way Converse, TX	3.0	2.0	1971	$1,875	$0.95	25d	1	0.34mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	45d	1	0.35mi
10606 Pablo Way Converse, TX	4.0	2.0	1667	$1,631	$0.98	0d	1	0.36mi
10818 Fox Trot Converse, TX	3.0	2.0	1465	$1,850	$1.26	6d	1	0.37mi
2943 Forsyth Cyn Converse, TX	4.0	2.5	2203	$1,795	$0.81	25d	1	0.37mi
10827 Fox Trot Converse, TX	3.0	2.0	1650	$1,645	$1.00	21d	1	0.38mi
10739 Rosalina Loop Converse, TX	3.0	2.0	1994	$2,100	$1.05	4d	1	0.38mi
10906 Airmen Dr Converse, TX	3.0	2.0	1535	$1,550	$1.01	4d	1	0.39mi
10930 Juliette Pass Converse, TX	4.0	2.5	2205	$1,850	$0.84	4d	1	0.39mi
11002 Eyelet Hbr Converse, TX	4.0	2.5	2204	$1,745	$0.79	45d	1	0.40mi
2942 Jackson Smt Converse, TX	4.0	2.5	2204	$1,745	$0.79	45d	1	0.40mi
11038 Chatham Ct Converse, TX	4.0	2.5	2205	$1,995	$0.90	14d	1	0.41mi
2934 Jackson Smt Converse, TX	4.0	2.5	2204	$2,070	$0.94	45d	1	0.42mi
3106 Drayton Ests Converse, TX	2.0–5.0	2.0–3.5	1733	$2,293	$1.32	0d	1	0.44mi
2939 Gastonian Ml Converse, TX	3.0	2.0	1525	$1,495	$0.98	45d	1	0.44mi
3006 Citron Gdn Converse, TX	4.0	2.5	2198	$1,950	$0.89	5d	1	0.45mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1709	$1,950	$1.14	23d	1	0.46mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1689	$1,950	$1.15	3d	1	0.46mi
2927 Gastonian Ml Converse, TX	4.0	2.5	2205	$1,850	$0.84	0d	1	0.46mi
2927 Gastonian Ml Converse, TX	4.0	2.5	2205	$1,850	$0.84	3d	1	0.46mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1450	$1,410	$0.97	25d	1	0.47mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1440	$1,476	$1.02	23d	1	0.47mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	25d	1	0.48mi
11151 Hollinger Cir Converse, TX	4.0	2.5	1859	$1,705	$0.92	25d	1	0.48mi
11050 Eyelet Hbr Converse, TX	4.0	2.5	2205	$1,875	$0.85	45d	1	0.48mi
10950 Chippewa Trce Converse, TX	4.0	2.5	2205	$1,800	$0.82	25d	1	0.49mi
10950 Chippewa Trce Converse, TX	4.0	2.5	2205	$1,750	$0.79	0d	1	0.49mi

HOA detail

• Monthly dues: $37 · $444/yr

Listing history 14 events

1. 2026-06-13
   statusdays on market $217,999 Pending 65 DOM
2. 2026-06-09
   pricedays on market $217,999 Price Change 64 DOM
3. 2026-06-08
   days on market $218,999 Price Change 63 DOM
4. 2026-06-07
   days on market $218,999 Price Change 62 DOM
5. 2026-06-04
   days on market $218,999 Price Change 59 DOM
6. 2026-06-03
   days on market $218,999 Price Change 58 DOM
7. 2026-06-02
   days on market $218,999 Price Change 57 DOM
8. 2026-06-02
   price $218,999 Price Change 56 DOM
9. 2026-06-01
   days on market $219,999 Price Change 56 DOM
10. 2026-05-31
    days on market $219,999 Price Change 55 DOM
11. 2026-05-07
    price $227,999 414-char remark

    Show marketing remark (615 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 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.

12. 2026-05-07
    price $227,999 615-char remark

    Show marketing remark (615 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 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.

13. 2026-05-03
    listed $247,999 Active 414-char remark

    Show marketing remark (414 chars)

    This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet.

14. 2026-04-06
    listed $247,999 New 615-char remark

    Show marketing remark (615 chars)

    The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down the foyer is a modern layout connecting a peninsula-style kitchen made for inspired meals, an intimate dining area and a family room ideal for gatherings. Tucked in a quiet corner is the owner's suite with an attached bathroom and walk-in closet. Estimated Completion June 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.

ⓘ 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: $23,266
• − Mortgage interest: −$12,211
• − Property taxes: −$3,270
• − Insurance: −$1,090
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − HOA: −$444
• − Depreciation: −$6,342
• Taxable loss: −$3,814
• Est. tax savings @ 24.0%: +$915
• After-tax cash flow: $773/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 · 12 photos

Excellent 100/100 None rehab

This single-story home is in excellent condition with no visible repairs or maintenance needed. The interior is modern and well-maintained, and the exterior is well-landscaped. The home is move-in ready and would benefit from some minor updates to increase its resale and rental value.

Value-add opportunities

• Resale Painting the interior walls in a more vibrant color — A fresh coat of paint can make the interior more inviting and appealing to potential buyers.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers and renters.
• Resale Upgrading the flooring in the bathrooms — Upgrading the flooring in the bathrooms can make the space more appealing and increase the home's resale value.
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and make the home more attractive to renters looking for energy-efficient properties.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the interior walls in a more vibrant color — A fresh coat of paint can make the interior more inviting and appealing to potential buyers. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers and renters. ↑
• Resale Upgrading the flooring in the bathrooms — Upgrading the flooring in the bathrooms can make the space more appealing and increase the home's resale value. ↑
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and make the home more attractive to renters looking for energy-efficient properties. ↑

ⓘ 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: 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

-8.1% since first listed

4 events — show timeline

• 2026-05-07 Price Changed $227,999 Zillow
• 2026-05-07 Price Changed $227,999 LERA
• 2026-05-03 Listed $247,999 Zillow
• 2026-04-06 Listed $247,999 LERA