21207 Boulder Flts · San Antonio, TX 78266

$365,000

4 bd · 2.0 ba · 1,840 sqft · SingleFamily public records · 21 Days on market

Built 2023 6,185 sqft lot $198/sqft · at area comps Est $383k · at est. $84/mo HOA · 4% of rent

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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 +9.7/15.0
• Cash flow +5.0/30.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.0/10.0

Listing remarks

Better Than New Farmhouse Dream Home - Packed with Upgrades! Why wait months to build when you can move into this better-than-new farmhouse-style home loaded with upgrades and priced for serious savings? This in-demand modern farmhouse offers incredible space and style, featuring an oversized dining/flex room that flows seamlessly into a bright, open living area complete with a stunning acoustic wood accent wall that creates the perfect focal point. The chef-inspired kitchen is designed to impress with granite countertops, gas cooking, bar seating, and a spacious pantry-plus the fridge is included, saving you even more. Retreat to the oversized primary suite with dual vanities, a large walk

Key facts

• Gas cooking
• Granite countertops
• Bar seating

Tags

• OVERSIZED DINING FLEX ROOM
• ACOUSTIC WOOD ACCENT WALL
• CHEF INSPIRED KITCHEN
• GRANITE COUNTERTOPS
• GAS COOKING
• BAR SEATING

Property features AI

Finance

• Financial info: Down payment resources available
• HOA & community: Mandatory HOA; HOA fee $252 paid quarterly; Association transfer fee $375; Community amenities: pool, clubhouse, park/playground; Subdivision: Brookstone Creek

Exterior

• Parking: Attached 2-car garage
• Security: Pre-wired for security; Smoke alarm
• Utilities: Water: SAWS; Sewer: SAWS; Gas: CPS; Electricity: CPS; Garbage service: Republic; Other utility: AT&T
• Home design: Pre-owned single-family home; Accessible/adaptive home with no stairs; Bathroom and bedroom on first floor
• Construction: Siding and cement fiber exterior; Slab foundation; Composition roof; Approximately 3 years old
• Exterior features: Privacy fence; Sprinkler system; Gutters; Street paved with curbs, sidewalks and streetlights

Interior

• Kitchen: Island kitchen; Breakfast bar; Microwave; Dishwasher; Solid countertops
• Bedrooms: Master bedroom on lower level with walk-in closet, ceiling fan, and full bath; Second bedroom (13 x 10); Third bedroom (14 x 10); Fourth bedroom (14 x 11); Master bedroom dimensions approximately 19 x 14
• Flooring: Carpeting; Ceramic tile; Vinyl flooring
• Bathrooms: Two full bathrooms; Master bath with tub/shower combination and double vanity (approx. 11 x 9)
• Heating & cooling: Central heating (natural gas); Central air conditioning (1 unit)
• Interior features: Ceiling fans; Smoke alarm; Pre-wired for security; Garage door opener; Water softener plumbing; Solid countertops; Living/dining room combination; Island kitchen with breakfast bar; Open floor plan; Ground level / no steps; Laundry room on main level; Utility room inside
• Laundry & utility: Washer connection; Dryer connection; Laundry on main level; Utility room (approx. 6 x 8)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $-859 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (41.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (35.3% below list).
• Recommended offer: $213k (41.6% below list) — sets the bar for cash-flow.

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.
• North East ISD (urban): math 38% / reading 49% proficiency, ranked #276 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roan Forest El (math 58% / reading 68%, grade B, #300 of 4,322 statewide, top 7%, 861 students, 34% FRL); Hill Middle (math 51% / reading 64%, grade B, #206 of 1,662 statewide, top 13%, 1,044 students, 28% FRL); Johnson H S (math 69% / reading 80%, grade B+, #82 of 1,632 statewide, top 6%, 3,202 students, 24% FRL).
• Zoned-school proficiency averages 65% at this address vs 44% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the North East ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 230 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• In year one you build about $39k of equity ($3k loan paydown + $36k 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 ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($360k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,213 (41.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 3.47%
• Cash-on-cash: -10.09%
• DSCR: 0.55
• GRM: 12.9

CMA / ARV

• ARV (median comp): $383,324
• List price: $365,000
• Delta: -4.78%
• 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
21207 Boulder Flts	0.00mi	4/2.0	1,840 (0%)	1mo	$365,000	$198	100
21154 Boulder Flts	0.07mi	4/2.5	1,823 (-1%)	2mo	$391,950	$215	92
21138 Boulder Flts	0.10mi	4/2.5	1,823 (-1%)	2mo	$393,950	$216	90
21150 Boulder Flts	0.08mi	4/2.0	1,778 (-3%)	1mo	$384,950	$217	90
21130 Boulder Flts	0.12mi	4/2.0	1,778 (-3%)	1mo	$387,950	$218	88
20944 Gravel Keep	0.19mi	4/2.5	1,823 (-1%)	0mo	$417,500	$229	87
20921 Gravel Keep	0.25mi	4/2.5	1,823 (-1%)	0mo	$424,105	$233	84
21162 Boulder Flts	0.06mi	4/2.0	1,680 (-9%)	1mo	$368,950	$220	82
21118 Boulder Flts	0.15mi	4/2.0	1,680 (-9%)	1mo	$367,950	$219	78
20931 Stonework Spur	0.26mi	4/2.0	2,031 (+10%)	1mo	$425,950	$210	69
21126 Boulder Flts	0.13mi	3/2.0 (-1)	1,595 (-13%)	0mo	$379,950	$238	66
21503 Riverton Rise	0.73mi	3/2.0 (-1)	1,770 (-4%)	2mo	$280,000	$158	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 2.41×
• Total profit: $144,224
• Equity at exit: $328,821

10-year hold

• IRR: 16.3%
• Equity multiple: 5.58×
• Total profit: $468,071
• Equity at exit: $709,115

Cash invested: $102,200 (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 78266

• Home prices YoY: 3.9%
• Active inventory: 230
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,363 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$575 /mo · $6,906/yr
• Insurance: −$152
• HOA: −$84
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $-859

Break-even live

Break-even rent $3,450

Max offer price $213,213

Occupancy floor —

Sensitivity live

Price	-10% $-653	-5% $-756	+0% $-859	+5% $-963	+10% $-1,066
Rent	-10% $-1,046	-5% $-953	+0% $-859	+5% $-766	+10% $-673
Rate	-1.0pp $-675	-0.5pp $-766	base $-859	+0.5pp $-954	+1.0pp $-1,050

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21066 Gravel Keep San Antonio, TX	4.0	2.5	2257	$2,400	$1.06	0d	1	0.01mi
21223 Cobbles Loop San Antonio, TX	4.0	3.0	2464	$2,850	$1.16	0d	1	0.10mi
5536 Jewel Curv San Antonio, TX	4.0	2.0	1750	$2,500	$1.43	45d	1	0.23mi
5518 Stormie Keep San Antonio, TX	4.0	2.0	1778	$2,250	$1.27	3d	1	0.26mi
5518 Stormie Keep San Antonio, TX	4.0	2.0	1779	$2,250	$1.26	4d	1	0.26mi
5103 Gully Way San Antonio, TX	4.0	2.0	1778	$2,200	$1.24	13d	1	0.27mi
5515 Stormie Keep San Antonio, TX	4.0	3.0	2257	$2,450	$1.09	23d	1	0.28mi
21266 Watercourse Way San Antonio, TX	4.0	3.0	2257	$2,400	$1.06	45d	1	0.33mi
5015 Gully Way San Antonio, TX	4.0	2.5	2023	$2,400	$1.19	0d	1	0.34mi
5714 Pin Pt San Antonio, TX	4.0	2.5	2146	$2,400	$1.12	0d	1	0.37mi
10822 Rindle Ln San Antonio, TX	3.0	2.5	2320	$1,949	$0.84	45d	1	0.39mi
20859 Rindle Ln San Antonio, TX	4.0	3.0	2032	$2,500	$1.23	21d	1	0.43mi
21339 Watercourse Way San Antonio, TX	4.0	2.5	2171	$2,300	$1.06	46d	1	0.44mi
5602 Chestnut Xing San Antonio, TX	3.0	2.5	1958	$2,250	$1.15	25d	1	0.46mi
21027 Watercourse Way San Antonio, TX	4.0	2.5	1823	$2,195	$1.20	22d	1	0.50mi
21735 Thunder Basin San Antonio, TX	4.0	2.5	2363	$2,150	$0.91	45d	1	0.62mi
21514 Thunder Basin San Antonio, TX	3.0	2.5	1928	$2,100	$1.09	19d	1	0.62mi
22224 Backspin San Antonio, TX	4.0	2.5	2323	$2,290	$0.99	12d	1	0.70mi
22219 Esperanza Way San Antonio, TX	3.0	2.0	2428	$2,350	$0.97	4d	1	0.72mi
22419 Carriage Bush San Antonio, TX	4.0	3.0	2340	$2,395	$1.02	45d	1	0.82mi
22507 Green Jacket San Antonio, TX	3.0	2.0	1535	$2,100	$1.37	45d	1	0.94mi
5951 Southern Knl San Antonio, TX	3.0	2.0	1648	$2,500	$1.52	0d	1	0.95mi
22618 Double Bogey San Antonio, TX	4.0	2.0	1720	$1,950	$1.13	5d	1	0.97mi
22626 Double Bogey San Antonio, TX	4.0	2.5	2309	$2,500	$1.08	45d	1	0.99mi
5131 Blind Shot San Antonio, TX	4.0	2.0	1572	$2,100	$1.34	45d	1	1.00mi
4610 Sebastian Oak San Antonio, TX	3.0	2.0	2094	$2,095	$1.00	19d	1	1.00mi
4526 Bexley Trl San Antonio, TX	3.0	2.0	1657	$1,975	$1.19	3d	1	1.05mi
5714 Agave Spine San Antonio, TX	4.0	3.0	2011	$2,600	$1.29	45d	1	1.06mi
6015 Akin Stroll San Antonio, TX	3.0	2.0	1534	$2,100	$1.37	45d	1	1.08mi
5707 Tpc Pkwy San Antonio, TX	4.0	1.0–3.0	1013	$1,838	$1.81	3d	19	1.08mi
20803 Cape Coral San Antonio, TX	4.0	2.0	1699	$2,200	$1.29	15d	1	1.11mi
5040 Pitch San Antonio, TX	4.0	3.0	2473	$2,600	$1.05	0d	1	1.13mi
5819 Akin Pl San Antonio, TX	4.0	2.0	1648	$1,800	$1.09	25d	1	1.16mi
22763 Tee Shot San Antonio, TX	3.0	2.5	2041	$2,300	$1.13	45d	1	1.18mi
5106 Blind Shot San Antonio, TX	5.0	2.5	1950	$2,400	$1.23	45d	1	1.20mi
5505 TPC Pkwy Unit 3213 San Antonio, TX	3.0	2.0	1895	$2,438	$1.29	0d	1	1.24mi
23215 Langdon Lndg San Antonio, TX	4.0	2.5	2075	$2,550	$1.23	4d	1	1.28mi
5040 Fairway Wood San Antonio, TX	5.0	3.0	2548	$2,900	$1.14	19d	1	1.31mi
6035 Akin Pl San Antonio, TX	3.0	2.0	1690	$2,100	$1.24	6d	1	1.32mi
6022 Akin Quay San Antonio, TX	4.0	2.0	1739	$2,200	$1.27	6d	1	1.32mi

HOA detail

• Monthly dues: $84 · $1,008/yr
• Likely covers: gas

Listing history 2 events

1. 2026-05-06
   historical Active Option 1379-char remark
2. 2026-04-29
   listed $365,000 New 1379-char remark

ⓘ 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: $6,906 · $575/mo
• Projected year-2 tax: $6,906 · $575/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 5 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $28,351
• − Mortgage interest: −$20,446
• − Property taxes: −$6,906
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,268
• − Management: −$2,268
• − HOA: −$1,008
• − Depreciation: −$10,618
• Taxable loss: −$16,988
• Est. tax savings @ 24.0%: +$4,077
• After-tax cash flow: $-6,234/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: North East ISD
• NCES district ID: 4832940
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $57,715
• Composite: 38.1/100
• National rank: #4276
• State rank: #276 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

• City population: 1,806,925
• Population (ZIP): 7,274

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 0.65)
• Race & ethnicity: White 44% Hispanic / Latino 36% Two or more races 25% Black 14%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Romanian 3% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 11% German/W. Germanic 2% Korean 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: ▲ 13.56%
• Current HPI: 361.01
• Rent YoY: —
• Metro: —
• 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

5 events — show timeline

• 2026-06-08 Sold (Public Records) — Public Records
• 2026-06-05 Sold (MLS) — LERA
• 2026-05-20 Pending — LERA
• 2026-05-06 Contingent — LERA
• 2026-04-29 Listed $365,000 LERA

Property tax history

+185.8%/yr

Latest (2025): $6,906 · +5.8% YoY. Source: county tax records.