2005 Gold Lace Cactus

San Antonio, TX 78221

$221,000C-

4 bd · 2.5 ba · 1,543 sqft · Built 2026 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,987/mo
• Mortgage (P&I): −$1,159
• Tax + insurance: −$494
• HOA: −$15
• Vac / Maint / Mgmt: −$417
• Net cashflow: $-97/mo
• Annual: $-1,169/yr
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• 1% rule: 0.90%
• Cash to close: $61,880

Investor read

• This is a 4-bed/2.5-bath single-family listed at $221k. Condition is rated good.
• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (10.1% below list).
• It's been on market 52 days — a 3% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (10.1% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($2k 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: Julian C Gallardo El (math 13% / reading 22%, grade F, #3,805 of 4,322 statewide, top 89%, 544 students, 87% FRL); Southside H S (math 18% / reading 25%, grade F, #1,377 of 1,632 statewide, top 85%, 1,685 students, 85% FRL).
• Watch-outs: flood insurance adds $125/mo.
• 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 25d 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 ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% 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.
• This rent runs 37% 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 52 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?