10622 Red Shiner Run · San Antonio, TX 78224

$267,999

4 bd · 3.0 ba · 2,015 sqft · Townhouse · 68 Days on market

Built 2026 4,791 sqft lot $133/sqft · 5% above area Est $254k · 5% over $20/mo HOA · 1% 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
• Cash flow +7.4/30.0
• ARV discount +5.1/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.2/10.0
• DSCR +1.6/10.0

Listing remarks MLS

The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

Key facts

• Luxe owner's suite
• Walk-in closet
• Covered patio

Tags

• OPEN-CONCEPT FLOORPLAN
• COVERED PATIO
• LUXE OWNER'S SUITE
• SPA-INSPIRED BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $268k.

Deal economics

• At list price, monthly cash flow is $-342 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (27.7% below list).
• Recommended offer: $194k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: schools C-, crime F.
• Southwest ISD (rural): math 21% / reading 31% proficiency, ranked #701 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 274 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 39% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k 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 ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $193,722 (27.7% 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 68 days. Have you received any prior offers? Is the seller open to a 28% 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: 0.72% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.46%
• DSCR: 0.76
• GRM: 11.5

CMA / ARV

• ARV (median comp): $254,499
• List price: $267,999
• Delta: 5.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 0.83% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.60×
• Total profit: $120,099
• Equity at exit: $241,435

10-year hold

• IRR: 17.7%
• Equity multiple: 5.84×
• Total profit: $363,189
• Equity at exit: $520,663

Cash invested: $75,040 (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 78224

• Home prices YoY: 12.4%
• Rents YoY: 0.8%
• Active inventory: 274
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,937 high
• Mortgage (P&I): −$1,405
• Tax est. 1.5%: −$335 /mo · $4,020/yr
• Insurance: −$112
• HOA: −$20
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-342

Break-even live

Break-even rent $2,370

Max offer price $218,558

Occupancy floor —

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10723 Goose Way San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.13mi
10523 Goose Way San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.15mi
10710 Butterfly Pass San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.15mi
10811 Soupe CV San Antonio, TX	4.0	2.5	2173	$1,995	$0.92	3d	1	0.17mi
1347 Neria LOOP San Antonio, TX	4.0	2.5	2173	$1,699	$0.78	44d	1	0.17mi
10719 Butterfly Pass San Antonio, TX	3.0	2.5	1645	$1,640	$1.00	44d	1	0.18mi
10723 Butterfly Pass San Antonio, TX	4.0	2.5	1687	$1,675	$0.99	44d	1	0.19mi
10527 Hunters Pond San Antonio, TX	4.0	2.5	1510	$1,395	$0.92	44d	1	0.26mi
2222 Fishing Trl San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	24d	1	0.32mi
2226 Fishing Trl San Antonio, TX	3.0	2.5	1777	$1,650	$0.93	24d	1	0.33mi
2230 Fishing Trl San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	24d	1	0.34mi
2242 Fishing Trl San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.37mi
2235 Fishing Trl San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	44d	1	0.37mi
2107 Bigmouth Rod San Antonio, TX	3.0	2.5	1777	$1,675	$0.94	44d	1	0.37mi
2111 Bigmouth Rod San Antonio, TX	4.0	2.5	1917	$1,700	$0.89	44d	1	0.38mi
2115 Bigmouth Rod San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	44d	1	0.38mi
1451 Neria Loop Unit 3 San Antonio, TX	4.0	3.0	1867	$700	$0.37	13d	1	0.44mi
10823 Bernal Cv San Antonio, TX	4.0	2.0	1600	$2,000	$1.25	2d	1	0.45mi
10807 Bernal Cv San Antonio, TX	4.0	2.0	1575	$1,700	$1.08	16d	1	0.45mi
2307 Applewhite Mdw San Antonio, TX	4.0	2.5	1798	$1,750	$0.97	44d	1	0.46mi
2318 Applewhite Mdw San Antonio, TX	4.0	2.5	1798	$1,795	$1.00	24d	1	0.47mi
10611 Vesta Curv San Antonio, TX	4.0	2.0	1627	$1,735	$1.07	4d	1	0.48mi
10622 Vesta Curv San Antonio, TX	4.0	2.0	1627	$1,725	$1.06	4d	1	0.51mi
2335 Applewhite Mdw San Antonio, TX	3.0	2.5	1529	$1,550	$1.01	4d	1	0.51mi
2330 Redlove Dr San Antonio, TX	3.0	2.5	1420	$1,600	$1.13	4d	1	0.51mi
2350 Dry Moss Way San Antonio, TX	3.0	2.5	1420	$1,650	$1.16	44d	1	0.52mi
2343 Applewhite Mdw San Antonio, TX	4.0	2.5	1798	$1,795	$1.00	24d	1	0.53mi
2350 Redlove Dr San Antonio, TX	3.0	2.5	1420	$1,675	$1.18	24d	1	0.55mi
10542 Nye Pass San Antonio, TX	3.0	2.0	1440	$1,595	$1.11	44d	1	0.57mi
1407 Mira Ml San Antonio, TX	4.0	2.0	1600	$2,000	$1.25	16d	1	0.61mi
2434 Dry Moss Way San Antonio, TX	4.0	2.5	2417	$2,500	$1.03	2d	1	0.62mi
10151 Asta Trl San Antonio, TX	4.0	2.0	1625	$1,650	$1.02	13d	1	0.64mi
10750 Twyla Rd San Antonio, TX	3.0	2.0	1402	$1,750	$1.25	16d	1	0.70mi
10135 Ana Hts San Antonio, TX	4.0	2.0	1952	$2,200	$1.13	2d	1	0.70mi
10107 Kersey Ml San Antonio, TX	4.0	2.0	1628	$1,695	$1.04	24d	1	0.71mi
10031 Kersey Ml San Antonio, TX	4.0	2.5	1950	$1,895	$0.97	2d	1	0.74mi
10042 Kersey Ml San Antonio, TX	3.0	2.0	1450	$1,650	$1.14	22d	1	0.75mi
10007 Kersey Ml San Antonio, TX	3.0	2.0	1440	$1,495	$1.04	44d	1	0.76mi
10834 Saleh Cor San Antonio, TX	4.0	4.0	2908	$3,250	$1.12	2d	1	0.77mi
10258 Asta Trl San Antonio, TX	4.0	2.0	1625	$1,590	$0.98	16d	1	0.80mi

HOA detail

• Monthly dues: $20 · $240/yr
• Likely covers: water

Listing history 14 events

1. 2026-05-16
   price $267,999 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

2. 2026-05-15
   status Back on Market 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

3. 2026-04-30
   status Pending 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

4. 2026-04-22
   price $240,000 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

5. 2026-04-21
   status Back on Market 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

6. 2026-04-13
   status Pending 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

7. 2026-04-11
   price $245,999 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

8. 2026-04-09
   price $246,999 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

9. 2026-03-28
   price $249,999 542-char remark

   Show marketing remark (542 chars)

   The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

10. 2026-03-25
    price $254,999 542-char remark

    Show marketing remark (542 chars)

    The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

11. 2026-03-24
    price $253,999 542-char remark

    Show marketing remark (542 chars)

    The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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. 2026-03-18
    price $267,999 542-char remark

    Show marketing remark (542 chars)

    The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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. 2026-03-12
    price $251,999 542-char remark

    Show marketing remark (542 chars)

    The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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.

14. 2026-02-19
    listed $267,999 New 542-char remark

    Show marketing remark (542 chars)

    The Clearwater - This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner's suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet. Estimated Completion May 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: $23,247
• − Mortgage interest: −$15,012
• − Property taxes: −$4,020
• − Insurance: −$1,340
• − Repairs & maintenance: −$1,860
• − Management: −$1,860
• − HOA: −$240
• − Depreciation: −$7,796
• Taxable loss: −$8,881
• Est. tax savings @ 24.0%: +$2,131
• After-tax cash flow: $-1,969/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: Southwest ISD
• NCES district ID: 4840950
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $43,362
• Composite: 22.22/100
• National rank: #8153
• State rank: #701 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): 22,232
• Household income: $59,891
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 721.0

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 (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 24% White 6% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 44% English-only · Spanish 55% Chinese 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: ▲ 29.95%
• Current HPI: 272.0709
• Rent YoY: ▲ 0.83%
• 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

+0.0% since first listed

14 events — show timeline

• 2026-05-16 Price Changed $267,999 LERA
• 2026-05-15 Relisted — LERA
• 2026-04-30 Pending — LERA
• 2026-04-22 Price Changed $240,000 LERA
• 2026-04-21 Relisted — LERA
• 2026-04-13 Pending — LERA
• 2026-04-11 Price Changed $245,999 LERA
• 2026-04-09 Price Changed $246,999 LERA
• 2026-03-28 Price Changed $249,999 LERA
• 2026-03-25 Price Changed $254,999 LERA
• 2026-03-24 Price Changed $253,999 LERA
• 2026-03-18 Price Changed $267,999 LERA
• 2026-03-12 Price Changed $251,999 LERA
• 2026-02-19 Listed $267,999 LERA