1139 Morales · San Antonio, TX 78207

$198,800

4 bd · 2.0 ba · 972 sqft · SingleFamily public records · 93 Days on market

Built 1925 4,094 sqft lot $205/sqft · 54% above area Est $209k · 5% under

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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).

• Appreciation +10.0/10.0
• ARV discount +9.8/15.0
• Cash flow +7.3/30.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Schools +1.4/10.0

Listing remarks MLS

OWNER FINANCING or LEASE OPTION, this dual-living property offers a rare chance to acquire a versatile home while bypassing traditional bank requirements. The main residence is a functional 972 sqft three-bedroom, one-bathroom home, perfectly paired with a private 600 sqft accessory dwelling unit (ADU) in the rear that includes its own bedroom and bathroom. Whether you are looking for a multi-generational living solution or a property with a built-in rental stream to offset monthly costs, this dual-unit setup provides maximum flexibility and accessibility through tailored, creative terms.

Key facts

• 4,094 sq ft lot
• Built 1925
• Listed 93 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-265 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (23.7% below list).
• Recommended offer: $152k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.8% in San Antonio — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Margil El (math 10% / reading 15%, grade F, #4,167 of 4,322 statewide, top 97%, 436 students, 97% FRL); Lanier H S (math 9% / reading 15%, grade F, #1,554 of 1,632 statewide, top 95%, 1,547 students, 97% FRL) — zoned schools average 97% FRL vs 80% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.7%/yr); 164 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $1,516/mo this rent would consume 56% of the median local household income ($32k/yr) (locally 2789% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,587 (23.7% 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 93 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.76% ✗
• Cap rate: 4.69%
• Cash-on-cash: -5.72%
• DSCR: 0.75
• GRM: 10.9

CMA / ARV

• ARV (median comp): $209,441
• List price: $198,800
• Delta: -5.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 Eddie Wessley	0.03mi	3/1.0 (-1)	1,041 (+7%)	12mo	$157,900	$152	68
1129 N Smith St	0.43mi	3/1.0 (-1)	1,036 (+7%)	10mo	$170,000	$164	52
823 N Trinity St	0.38mi	3/1.0 (-1)	1,064 (+10%)	8mo	$129,000	$121	51
945 Delgado	0.69mi	3/1.0 (-1)	987 (+2%)	7mo	$50,000	$51	51
109 Rounds St	0.49mi	3/2.0 (-1)	1,031 (+6%)	16mo	$120,000	$116	48
1215 Perez St	0.31mi	3/2.0 (-1)	1,068 (+10%)	20mo	$195,000	$183	48

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

Projected returns pro-forma

10.0% appreciation · 7.73% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.78×
• Total profit: $99,012
• Equity at exit: $179,095

10-year hold

• IRR: 20.7%
• Equity multiple: 6.81×
• Total profit: $323,543
• Equity at exit: $386,225

Cash invested: $55,664 (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 78207

• Home prices YoY: 15.2%
• Rents YoY: 7.7%
• Active inventory: 164
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$1,043
• Tax from tax record: −$337 /mo · $4,049/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-265

Break-even live

Break-even rent $1,852

Max offer price $151,937

Occupancy floor —

Sensitivity live

Price	-10% $-153	-5% $-209	+0% $-265	+5% $-322	+10% $-378
Rent	-10% $-385	-5% $-325	+0% $-265	+5% $-205	+10% $-146
Rate	-1.0pp $-165	-0.5pp $-215	base $-265	+0.5pp $-317	+1.0pp $-369

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: $49,700
• Closing costs: $5,964
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 N Colorado St San Antonio, TX	3.0	1.0	1100	$1,199	$1.09	45d	1	0.14mi
614 N Sabinas St San Antonio, TX	3.0	2.0	930	$1,249	$1.34	6d	1	0.42mi
542 Rivas St Unit B San Antonio, TX	3.0	2.0	876	$985	$1.12	0d	1	0.45mi
215 S Brazos St San Antonio, TX	3.0	1.0	900	$1,350	$1.50	6d	1	0.48mi
1711 W Cesar E Chavez Blvd Unit 1 San Antonio, TX	3.0	1.0	800	$1,275	$1.59	45d	1	0.68mi
509 S Trinity St San Antonio, TX	3.0	1.0	921	$1,300	$1.41	6d	1	0.76mi
2619 W Houston St San Antonio, TX	3.0	1.0	776	$1,800	$2.32	45d	1	0.76mi
1102 El Paso St San Antonio, TX	1.0–3.0	1.0–2.0	888	$1,437	$1.62	5d	1	0.89mi
100 N Santa Rosa San Antonio, TX	3.0	1.0–3.0	1299	$3,845	$2.96	0d	37	0.96mi
206 Roberts St Unit 201 San Antonio, TX	3.0	2.0	1100	$1,350	$1.23	26d	1	1.12mi
1011 S Frio St San Antonio, TX	3.0	1.0–3.0	1121	$2,195	$1.96	0d	31	1.13mi
300 N Main Ave San Antonio, TX	3.0	1.0–2.5	1153	$10,437	$9.05	0d	98	1.14mi
614 Chihuahua St San Antonio, TX	3.0	2.0	1082	$1,400	$1.29	45d	1	1.19mi
214 Aztec St San Antonio, TX	3.0	2.0	973	$1,275	$1.31	17d	1	1.19mi
1231 Rivas St Unit 102 San Antonio, TX	3.0	2.0	1120	$1,299	$1.16	45d	1	1.19mi
1415 N Main Ave San Antonio, TX	3.0	1.0–3.0	906	$2,150	$2.37	5d	12	1.27mi
1415 N Main Ave San Antonio, TX	1.0–3.0	1.0–3.0	818	$1,899	$2.32	0d	33	1.27mi
1415 N Main Ave San Antonio, TX	1.0–3.0	1.0–3.0	980	$2,715	$2.77	12d	15	1.27mi
143 E Commerce St San Antonio, TX	1.0–3.0	1.0–3.5	1442	$9,885	$6.85	0d	15	1.30mi
2406 S Laredo St San Antonio, TX	3.0	1.0	944	$1,200	$1.27	17d	1	1.44mi

Listing history 50 events

1. 2026-06-21
   days on market $198,800 Active 93 DOM
2. 2026-06-18
   days on market $198,800 Active 90 DOM
3. 2026-06-17
   days on market $198,800 Active 89 DOM
4. 2026-06-16
   days on market $198,800 Active 88 DOM
5. 2026-06-15
   days on market $198,800 Active 87 DOM
6. 2026-06-13
   days on market $198,800 Active 85 DOM
7. 2026-06-09
   days on market $198,800 Active 81 DOM
8. 2026-06-08
   days on market $198,800 Active 80 DOM
9. 2026-06-07
   days on market $198,800 Active 79 DOM
10. 2026-06-04
    days on market $198,800 Active 76 DOM
11. 2026-06-03
    days on market $198,800 Active 75 DOM
12. 2026-06-02
    days on market $198,800 Active 74 DOM
13. 2026-06-01
    days on market $198,800 Active 73 DOM
14. 2026-05-31
    days on market $198,800 Active 72 DOM
15. 2026-04-17
    price $198,800 595-char remark

    Show marketing remark (595 chars)

    OWNER FINANCING or LEASE OPTION, this dual-living property offers a rare chance to acquire a versatile home while bypassing traditional bank requirements. The main residence is a functional 972 sqft three-bedroom, one-bathroom home, perfectly paired with a private 600 sqft accessory dwelling unit (ADU) in the rear that includes its own bedroom and bathroom. Whether you are looking for a multi-generational living solution or a property with a built-in rental stream to offset monthly costs, this dual-unit setup provides maximum flexibility and accessibility through tailored, creative terms.

16. 2026-03-20
    listed $199,800 New 595-char remark

    Show marketing remark (595 chars)

    OWNER FINANCING or LEASE OPTION, this dual-living property offers a rare chance to acquire a versatile home while bypassing traditional bank requirements. The main residence is a functional 972 sqft three-bedroom, one-bathroom home, perfectly paired with a private 600 sqft accessory dwelling unit (ADU) in the rear that includes its own bedroom and bathroom. Whether you are looking for a multi-generational living solution or a property with a built-in rental stream to offset monthly costs, this dual-unit setup provides maximum flexibility and accessibility through tailored, creative terms.

17. 2026-03-02
    historical $800
18. 2026-03-02
    historical $800
19. 2026-02-06
    listed $800
20. 2026-02-06
    listed $1,500
21. 2025-08-25
    historical
22. 2025-08-06
    listed $199,900 New
23. 2025-08-02
    historical
24. 2025-07-16
    price $235,000
25. 2025-07-03
    price $239,990
26. 2025-05-08
    price $240,000
27. 2025-03-08
    listed $245,000 New
28. 2022-07-11
    soldstatus Sold
29. 2022-07-11
    soldstatus
30. 2022-06-22
    status Pending
31. 2022-06-11
    historical Active Option
32. 2022-06-04
    listed $199,999 New
33. 2022-02-10
    historical
34. 2022-01-21
    status Back on Market
35. 2022-01-18
    historical Active Option
36. 2022-01-14
    listed $199,999 New
37. 2021-09-29
    soldstatus
38. 2021-09-24
    soldstatus Sold
39. 2021-08-23
    status Pending
40. 2021-08-19
    historical Active Option
41. 2021-08-16
    price $118,000
42. 2021-08-15
    status Back on Market
43. 2021-08-10
    historical Active Option
44. 2021-07-26
    listed $134,000 New
45. 2019-08-07
    soldstatus Sold
46. 2019-08-05
    soldstatus
47. 2019-07-29
    status Pending
48. 2019-07-14
    listed $140,000 New
49. 2018-10-18
    soldstatus Sold
50. 2018-09-29
    status Pending

ⓘ 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: $4,049 · $337/mo
• Projected year-2 tax: $4,049 · $337/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 · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $18,190
• − Mortgage interest: −$11,136
• − Property taxes: −$4,049
• − Insurance: −$994
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$5,783
• Taxable loss: −$6,683
• Est. tax savings @ 24.0%: +$1,604
• After-tax cash flow: $-1,580/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): 55,474
• Household income: $32,472
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2789.0

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 (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 41% White 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 79%
• Foreign-born: 19% · Canada
• Languages at home: 39% English-only · Spanish 60%

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: ▲ 34.92%
• Current HPI: 264.7559
• Rent YoY: ▲ 7.73%
• 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

+899.0% since first listed

43 events — show timeline

• 2026-04-17 Price Changed $198,800 LERA
• 2026-03-20 Listed $199,800 LERA
• 2026-03-02 Rental Removed $800 SABOR
• 2026-03-02 Rental Removed $800 SABOR
• 2026-02-06 Listed for Rent $800 SABOR
• 2026-02-06 Listed for Rent $1,500 SABOR
• 2025-08-25 Listing Removed — LERA
• 2025-08-06 Listed $199,900 LERA
• 2025-08-02 Listing Removed — LERA
• 2025-07-16 Price Changed $235,000 LERA
• 2025-07-03 Price Changed $239,990 LERA
• 2025-05-08 Price Changed $240,000 LERA
• 2025-03-08 Listed $245,000 LERA
• 2022-07-11 Sold (MLS) — LERA
• 2022-07-11 Sold (Public Records) — Public Records
• 2022-06-22 Pending — LERA
• 2022-06-11 Contingent — LERA
• 2022-06-04 Listed $199,999 LERA
• 2022-02-10 Listing Removed — LERA
• 2022-01-21 Relisted — LERA
• 2022-01-18 Contingent — LERA
• 2022-01-14 Listed $199,999 LERA
• 2021-09-29 Sold (Public Records) — Public Records
• 2021-09-24 Sold (MLS) — LERA
• 2021-08-23 Pending — LERA
• 2021-08-19 Contingent — LERA
• 2021-08-16 Price Changed $118,000 LERA
• 2021-08-15 Relisted — LERA
• 2021-08-10 Contingent — LERA
• 2021-07-26 Listed $134,000 LERA
• 2019-08-07 Sold (MLS) — LERA
• 2019-08-05 Sold (Public Records) — Public Records
• 2019-07-29 Pending — LERA
• 2019-07-14 Listed $140,000 LERA
• 2018-10-18 Sold (MLS) — LERA
• 2018-09-29 Pending — LERA
• 2018-09-18 Price Changed $54,900 LERA
• 2018-08-13 Listed $59,900 LERA
• 2006-06-06 Sold (Public Records) — Public Records
• 2005-12-15 Sold (Public Records) — Public Records
• 2005-12-09 Sold (MLS) — LERA
• 2005-11-11 Listed $19,900 LERA
• 1998-12-28 Sold (Public Records) — Public Records

Property tax history

+11.7%/yr

Latest (2025): $4,049 · +0.0% YoY. Source: county tax records.