423 Barrett Pl · San Antonio, TX 78225

$112,900

3 bd · 1.0 ba · 1,432 sqft · SingleFamily public records · 29 Days on market

Built 1940 6,490 sqft lot Est $208k · 46% under

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Why this score? — see what drove the B+ 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +8.5/10.0
• Appreciation +6.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

A great investment property on this Palm Heights 5 bedroom 2 bath home. Lots of home for the money no doubt. Right off Nogalitos and a few blocks from Hwy 90. Minutes to downtown San Antonio.

Key facts

• 6,490 sq ft lot
• Garage
• Built 1940

Property features AI

Finance

• Financial info: Down payment assistance not indicated

Exterior

• Parking: Detached 1-car garage
• Utilities: Water system
• Home design: Pre-owned home; Approximate age: 86 years
• Construction: Asbestos shingle and siding exterior; Composition roof
• Exterior features: Located in the PALM HEIGHTS subdivision

Interior

• Kitchen: Kitchen about 12 x 11; Dining area about 11 x 10; Living room about 14 x 9
• Bedrooms: Master bedroom about 12 x 8; Bedroom 2 about 12 x 8; Bedroom 3 about 15 x 10; Bedroom 4 about 13 x 12; Bedroom 5 about 15 x 12
• Flooring: Other flooring (see remarks)
• Bathrooms: Two full bathrooms
• Heating & cooling: Other heating fuel (see remarks)
• Interior features: One living area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $113k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Recommended offer: $111k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• San Antonio ISD (urban): math 12% / reading 22% proficiency, ranked #805 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Collins Garden El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 426 students, 95% FRL); Burbank H S (math 9% / reading 20%, grade F, #1,522 of 1,632 statewide, top 94%, 1,319 students, 90% FRL, charter).
• Market conditions: 36 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 39% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($781 loan paydown + $4k appreciation (3.8% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($111k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $111,206 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.35% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.67%
• DSCR: 1.52
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $207,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
253 Carroll	0.19mi	3/2.0	1,523 (+6%)	1mo	$165,000	$108	76
342 Kirk	0.14mi	4/2.0 (+1)	1,392 (-3%)	8mo	$159,000	$114	73
112 Barrett Pl	0.42mi	3/1.0	1,504 (+5%)	9mo	$170,000	$113	64
307 Jennings	0.23mi	3/1.0	1,236 (-14%)	4mo	$129,000	$104	63
346 Walton Ave	0.15mi	3/2.5	1,626 (+14%)	4mo	$235,000	$145	60
1314 W Theo Ave	0.56mi	4/2.0 (+1)	1,404 (-2%)	3mo	$299,999	$214	59
259 Drake Ave	0.60mi	3/2.0	1,505 (+5%)	8mo	$260,000	$173	53
138 c	0.56mi	3/2.0	1,350 (-6%)	9mo	$228,000	$169	53
446 Drake Ave	0.43mi	2/2.0 (-1)	1,554 (+8%)	10mo	$224,969	$145	49
822 Glenn	0.54mi	3/1.0	1,220 (-15%)	5mo	$52,000	$43	46
457 N Park Blvd	0.39mi	3/2.0	1,641 (+15%)	9mo	$270,000	$165	46
1459 Winnipeg	0.74mi	3/2.0	1,642 (+15%)	3mo	$180,000	$110	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.21×
• Total profit: $38,177
• Equity at exit: $55,976

10-year hold

• IRR: 20.9%
• Equity multiple: 4.25×
• Total profit: $102,749
• Equity at exit: $90,557

Cash invested: $31,612 (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 78225

• Home prices YoY: 1.5%
• Active inventory: 36
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$592
• Tax from tax record: −$254 /mo · $3,051/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $308

Break-even live

Break-even rent $1,131

Max offer price $112,900

Occupancy floor 75%

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: $28,225
• Closing costs: $3,387
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 Taft Blvd San Antonio, TX	3.0	1.0	883	$1,295	$1.47	44d	1	0.07mi
323 Thompson Pl San Antonio, TX	4.0	2.0	1600	$1,800	$1.12	44d	1	0.17mi
626 Kirk Pl San Antonio, TX	2.0	1.0	912	$1,100	$1.21	20d	1	0.30mi
542 Drake Ave San Antonio, TX	3.0	2.0	1368	$1,875	$1.37	44d	1	0.37mi
150 Hearne San Antonio, TX	2.0	1.0	1044	$1,400	$1.34	24d	1	0.39mi
410 N Park Blvd San Antonio, TX	3.0	2.0	1326	$1,650	$1.24	44d	1	0.47mi
463 Linares St San Antonio, TX	3.0	1.0	1220	$1,400	$1.15	24d	1	0.55mi
242 Drake Ave Unit 242 San Antonio, TX	3.0	2.0	1472	$1,700	$1.15	44d	1	0.62mi
333 Frio City Rd Unit 1 San Antonio, TX	2.0	1.0	1350	$1,350	$1.00	11d	1	0.75mi
319 Noria St San Antonio, TX	3.0	1.0	1002	$1,100	$1.10	24d	1	0.76mi
2003 S Zarzamora St San Antonio, TX	1.0–4.0	1.0–2.0	1028	$1,257	$1.22	24d	1	0.78mi
1130 Sims Ave San Antonio, TX	3.0	2.0	1206	$1,300	$1.08	24d	1	0.79mi
1938 S Zarzamora St Unit 710 San Antonio, TX	2.0	2.0	955	$1,102	$1.15	3d	1	0.79mi
909 Sims Ave San Antonio, TX	4.0	2.0	1400	$1,750	$1.25	24d	1	0.79mi
231 Ceralvo St Unit Na San Antonio, TX	3.0	2.0	1160	$1,695	$1.46	44d	1	0.84mi
616 Sims Ave San Antonio, TX	3.0	1.0	1148	$875	$0.76	44d	1	0.86mi
3103 Neptune St San Antonio, TX	3.0	2.0	1008	$1,350	$1.34	44d	1	0.89mi
2114 Jupiter St San Antonio, TX	3.0	3.0	1233	$1,457	$1.18	22d	1	0.93mi
439 W Lubbock St San Antonio, TX	4.0	2.0	1288	$1,635	$1.27	24d	1	0.97mi
439 W Lubbock St San Antonio, TX	4.0	2.0	1288	$1,620	$1.26	3d	1	0.97mi
438 Pruitt Ave #1 San Antonio, TX	2.0	1.0	980	$1,245	$1.27	44d	1	1.00mi
1901 S San Marcos Unit 710 San Antonio, TX	2.0	2.0	985	$1,147	$1.16	3d	1	1.07mi
222 Glass Ave San Antonio, TX	2.0	2.0	1007	$2,400	$2.38	44d	1	1.13mi
834 Division Ave Unit 2 San Antonio, TX	2.0	1.0	936	$950	$1.01	4d	1	1.15mi
2406 S Laredo St San Antonio, TX	3.0	1.0	944	$1,200	$1.27	15d	1	1.23mi
415 Furnish Ave San Antonio, TX	3.0	2.0	1670	$1,995	$1.19	18d	1	1.24mi
118 Carthage Ct San Antonio, TX	3.0	2.0	1368	$1,450	$1.06	18d	1	1.25mi
131 Elsie Unit 301 San Antonio, TX	2.0	1.0	950	$795	$0.84	4d	1	1.28mi
1135 Ceralvo St San Antonio, TX	3.0	2.0	1164	$1,450	$1.25	4d	1	1.30mi
1135 Ceralvo St San Antonio, TX	3.0	2.0	1164	$1,450	$1.25	22d	1	1.30mi
575 Division Ave San Antonio, TX	3.0	1.5	1362	$1,950	$1.43	18d	1	1.32mi
503 W Hart Ave San Antonio, TX	3.0	1.0	1232	$1,750	$1.42	11d	1	1.37mi
120 Bank St San Antonio, TX	3.0	2.0	1035	$1,495	$1.44	44d	1	1.37mi
120 Bank St San Antonio, TX	3.0	2.0	1035	$1,450	$1.40	20d	1	1.37mi
114 Teresa San Antonio, TX	3.0	1.0	984	$1,450	$1.47	24d	1	1.41mi
161 Kaine St San Antonio, TX	3.0	1.0	1000	$1,450	$1.45	18d	1	1.43mi
328 Elks Dr San Antonio, TX	4.0	1.0	1600	$1,500	$0.94	24d	1	1.45mi
134 Gladstone St San Antonio, TX	2.0	1.0	1407	$1,000	$0.71	11d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $112,900 Active 29 DOM
2. 2026-06-17
   days on market $112,900 Active 28 DOM
3. 2026-06-16
   days on market $112,900 Active 27 DOM
4. 2026-06-15
   days on market $112,900 Active 26 DOM
5. 2026-06-13
   days on market $112,900 Active 24 DOM
6. 2026-06-09
   days on market $112,900 Active 20 DOM
7. 2026-06-08
   days on market $112,900 Active 19 DOM
8. 2026-06-07
   days on market $112,900 Active 18 DOM
9. 2026-06-04
   days on market $112,900 Active 15 DOM
10. 2026-06-03
    days on market $112,900 Active 14 DOM
11. 2026-06-02
    days on market $112,900 Active 13 DOM
12. 2026-06-01
    days on market $112,900 Active 12 DOM
13. 2026-05-31
    statusdays on market $112,900 Active 11 DOM
14. 2026-05-20
    listed $112,900 New
15. 2014-08-22
    soldstatus
16. 1982-01-01
    soldstatus

ⓘ 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: $3,051 · $254/mo
• Projected year-2 tax: $3,051 · $254/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,241
• − Mortgage interest: −$6,324
• − Property taxes: −$3,051
• − Insurance: −$564
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$3,284
• Taxable income: $2,098
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $3,187/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: San Antonio ISD
• NCES district ID: 4838730
• Math proficiency: 12% ▼ -21.00%
• Reading proficiency: 22% ▼ -7.00%
• Median HH income: $30,952
• Composite: 13.57/100
• National rank: #9512
• State rank: #805 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): 13,104
• Household income: $46,955
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 381.0

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: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 41% White 5% Black 4% Native American 3%
• Hispanic origin (detail): Mexican 85%
• Foreign-born: 13% · Canada
• Languages at home: 35% English-only · Spanish 65%

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: ▲ 3.81%
• Current HPI: 264.2018
• Rent YoY: —
• 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

3 events — show timeline

• 2026-05-20 Listed $112,900 LERA
• 2014-08-22 Sold (Public Records) — Public Records
• 1982-01-01 Sold (Public Records) — Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,051 · +0.0% YoY. Source: county tax records.