201 Avenue D · Converse, TX 78109

$165,000

3 bd · 2.0 ba · 1,388 sqft · SingleFamily public records · 139 Days on market

Built 1966 9,234 sqft lot $119/sqft · 15% below area Est $195k · 15% under ↓ 11% since listing

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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).

• ARV discount +14.4/15.0
• Cash flow +9.2/30.0
• 1% rule +4.0/10.0
• Livability +3.3/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a great opportunity to own a midcentury home of your own! You will love the layout of this property! Spacious backyard on a corner lot. Enjoy the backyard while sitting on the oversized covered patio. * Verify all house & room measurements. Verify Schools with Judson ISD.

Key facts

• Midcentury home
• Spacious backyard
• Corner lot

Tags

• MIDCENTURY HOME
• SPACIOUS BACKYARD
• CORNER LOT
• OVERSIZED COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (10.3% below list).
• Recommended offer: $143k (13.3% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 4.4% in Converse — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#649 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime C-, amenities F, commute F.
• Judson ISD (suburban): math 21% / reading 33% proficiency, ranked #660 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Converse El (math 21% / reading 30%, grade F, #2,982 of 4,322 statewide, top 70%, 604 students, 63% FRL); Judson Middle (math 21% / reading 34%, grade F, #1,156 of 1,662 statewide, top 71%, 1,259 students, 70% FRL); Judson H S (math 19% / reading 38%, grade F, #1,157 of 1,632 statewide, top 72%, 2,666 students, 62% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1219 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,063 (13.3% 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 139 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.90% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• GRM: 9.3

CMA / ARV

• ARV (median comp): $195,002
• List price: $165,000
• Delta: -15.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Legion	0.05mi	3/2.0	1,358 (-2%)	9mo	$160,000	$118	87
519 Willow Dr	0.31mi	3/2.0	1,401 (+1%)	3mo	$230,000	$164	81
614 Oak	0.20mi	3/2.0	1,452 (+5%)	5mo	$119,600	$82	79
107 Avenue B	0.13mi	2/1.0 (-1)	1,300 (-6%)	9mo	$173,000	$133	67
60 3rd	0.47mi	4/2.0 (+1)	1,364 (-2%)	4mo	$200,000	$147	67
422 Bridgit	0.55mi	4/2.0 (+1)	1,360 (-2%)	3mo	$180,000	$132	63
1920 Chicksaw Rose	0.73mi	3/2.0	1,411 (+2%)	2mo	$203,999	$145	61
609 Jamie Sue Dr	0.65mi	3/2.0	1,412 (+2%)	7mo	$199,900	$142	61
735 Dana Dr	0.74mi	3/2.0	1,363 (-2%)	2mo	$225,900	$166	61
517 5th	0.63mi	3/2.0	1,299 (-6%)	1mo	$200,000	$154	60
440 Bridgit	0.60mi	4/2.0 (+1)	1,534 (+10%)	5mo	$149,000	$97	46
611 Janice	0.72mi	3/2.0	1,256 (-10%)	6mo	$229,700	$183	45

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -25.5%
• Equity multiple: 0.16×
• Total profit: $-38,869
• Equity at exit: $24,602

10-year hold

• IRR: -38.2%
• Equity multiple: -0.31×
• Total profit: $-60,328
• Equity at exit: $14,266

Cash invested: $46,200 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1219
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,481 high
• Mortgage (P&I): −$865
• Tax from tax record: −$360 /mo · $4,320/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-124

Break-even live

Break-even rent $1,638

Max offer price $143,063

Occupancy floor —

Sensitivity live

Price	-10% $-31	-5% $-77	+0% $-124	+5% $-171	+10% $-218
Rent	-10% $-241	-5% $-183	+0% $-124	+5% $-66	+10% $-7
Rate	-1.0pp $-41	-0.5pp $-82	base $-124	+0.5pp $-167	+1.0pp $-210

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Station St Unit 101 Converse, TX	2.0	2.0	877	$825	$0.94	15d	1	0.03mi
103 Avenue F Unit A Converse, TX	2.0	1.0	1372	$1,175	$0.86	46d	1	0.15mi
301 Converse Center St Converse, TX	1.0–3.0	1.0–2.0	975	$1,417	$1.45	46d	1	0.23mi
517 Oak Dr Converse, TX	3.0	1.5	894	$1,500	$1.68	26d	1	0.25mi
202 Ash Dr Unit 103 Converse, TX	2.0	2.0	900	$995	$1.11	26d	1	0.31mi
810 Station St Unit 1 Converse, TX	2.0	2.0	1088	$899	$0.83	26d	1	0.35mi
810 Station St Apt 3 Converse, TX	2.0	2.0	1088	$825	$0.76	6d	1	0.35mi
812 Station St Converse, TX	2.0	1.0	1100	$975	$0.89	26d	1	0.37mi
208 Michelle Dr Converse, TX	3.0	2.0	1156	$1,400	$1.21	26d	1	0.38mi
9205 Farm to Market Road 78 Unit 710 Converse, TX	2.0	2.0	896	$1,043	$1.16	1d	1	0.42mi
10 4th St W Converse, TX	4.0	2.0	1429	$1,595	$1.12	1d	1	0.52mi
601 Jamie Sue Dr Converse, TX	3.0	2.0	1225	$1,600	$1.31	26d	1	0.63mi
531 Erna Dr Converse, TX	3.0	2.0	1002	$1,350	$1.35	13d	1	0.64mi
8422 Parry Path Converse, TX	3.0	2.0	1641	$1,550	$0.94	46d	1	0.65mi
115 N Meadow St Converse, TX	3.0	2.0	1048	$1,650	$1.57	46d	1	0.65mi
714 Dana Dr Converse, TX	3.0	2.0	1194	$1,465	$1.23	6d	1	0.66mi
9060 FM 78 Converse, TX	1.0–2.0	1.0	769	$1,150	$1.50	1d	10	0.73mi
116 Meadow Lark Converse, TX	3.0	2.0	1527	$1,650	$1.08	46d	1	0.74mi
116 Meadow Lark Converse, TX	3.0	2.0	1527	$1,650	$1.08	26d	1	0.74mi
9515 Boatman Pier Converse, TX	3.0	2.0	1672	$1,750	$1.05	26d	1	0.75mi
9523 Bent Tree Holw Converse, TX	3.0	2.0	1661	$1,650	$0.99	1d	1	0.81mi
823 Meadow Stone Converse, TX	3.0	2.0	1286	$1,465	$1.14	6d	1	0.87mi
8307 Forest Ridge Dr San Antonio, TX	4.0	2.0	1860	$1,199	$0.64	4d	1	0.89mi
9310 Hanover Sky Converse, TX	3.0	2.0	1672	$1,595	$0.95	26d	1	0.89mi
509 Meadow Frg Unit B Converse, TX	3.0	1.0	950	$925	$0.97	17d	1	0.89mi
509 Meadow Frg Unit A Converse, TX	3.0	1.5	950	$925	$0.97	17d	1	0.89mi
209 Royal Dr Converse, TX	3.0	2.0	952	$1,500	$1.58	17d	1	0.90mi
8810 Appaloosa Pass Converse, TX	3.0	2.5	1790	$1,795	$1.00	46d	1	0.93mi
8715 8th St Unit 1 Converse, TX	3.0	2.5	1502	$1,555	$1.04	46d	1	0.94mi
8711 8th St Unit 1 Converse, TX	3.0	2.5	1502	$1,525	$1.02	46d	1	0.94mi
8416 Dixon Ridge Dr San Antonio, TX	3.0	2.0	1104	$1,225	$1.11	5d	1	0.95mi
8206 Talkenhorn Converse, TX	3.0	2.0	1584	$1,895	$1.20	26d	1	0.95mi
8206 Talkenhorn Converse, TX	3.0	2.0	1584	$1,595	$1.01	46d	1	0.95mi
8404 Forest Ridge Dr San Antonio, TX	2.0	2.5	1860	$1,500	$0.81	26d	1	0.97mi
8406 Forest Ridge Dr San Antonio, TX	3.0	2.0	1121	$1,500	$1.34	46d	1	0.97mi
317 Vivian Dr Converse, TX	3.0	2.0	1454	$1,650	$1.13	5d	1	1.00mi
8003 Chestnut Manor Dr Converse, TX	3.0	2.0	1641	$1,795	$1.09	18d	1	1.00mi
8607 Cheyenne Blf Converse, TX	4.0	2.0	1697	$1,800	$1.06	46d	1	1.01mi
305 Jeanette Dr Converse, TX	3.0	2.0	1084	$1,600	$1.48	26d	1	1.01mi
309 Jeanette Dr Converse, TX	4.0	2.0	1105	$1,595	$1.44	26d	1	1.02mi

Listing history 19 events

1. 2026-06-22
   days on market $165,000 Active 139 DOM
2. 2026-06-21
   days on market $165,000 Active 138 DOM
3. 2026-06-18
   days on market $165,000 Active 135 DOM
4. 2026-06-17
   days on market $165,000 Active 134 DOM
5. 2026-06-16
   days on market $165,000 Active 133 DOM
6. 2026-06-15
   days on market $165,000 Active 132 DOM
7. 2026-06-13
   days on market $165,000 Active 130 DOM
8. 2026-06-09
   days on market $165,000 Active 126 DOM
9. 2026-06-08
   days on market $165,000 Active 125 DOM
10. 2026-06-07
    days on market $165,000 Active 124 DOM
11. 2026-06-04
    days on market $165,000 Active 121 DOM
12. 2026-06-03
    days on market $165,000 Active 120 DOM
13. 2026-06-02
    days on market $165,000 Active 119 DOM
14. 2026-06-01
    days on market $165,000 Active 118 DOM
15. 2026-05-31
    days on market $165,000 Active 117 DOM
16. 2026-05-11
    status Back on Market 291-char remark

    Show marketing remark (291 chars)

    This is a great opportunity to own a midcentury home of your own! You will love the layout of this property! Spacious backyard on a corner lot. Enjoy the backyard while sitting on the oversized covered patio. * Verify all house & room measurements. Verify Schools with Judson ISD.

17. 2026-05-09
    historical Active Option 291-char remark

    Show marketing remark (291 chars)

    This is a great opportunity to own a midcentury home of your own! You will love the layout of this property! Spacious backyard on a corner lot. Enjoy the backyard while sitting on the oversized covered patio. * Verify all house & room measurements. Verify Schools with Judson ISD.

18. 2026-03-20
    price $165,000 291-char remark

    Show marketing remark (291 chars)

    This is a great opportunity to own a midcentury home of your own! You will love the layout of this property! Spacious backyard on a corner lot. Enjoy the backyard while sitting on the oversized covered patio. * Verify all house & room measurements. Verify Schools with Judson ISD.

19. 2026-02-03
    listed $185,000 New 291-char remark

    Show marketing remark (291 chars)

    This is a great opportunity to own a midcentury home of your own! You will love the layout of this property! Spacious backyard on a corner lot. Enjoy the backyard while sitting on the oversized covered patio. * Verify all house & room measurements. Verify Schools with Judson ISD.

ⓘ 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: $4,320 · $360/mo
• Projected year-2 tax: $4,320 · $360/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 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,770
• − Mortgage interest: −$9,243
• − Property taxes: −$4,320
• − Insurance: −$825
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$4,800
• Taxable loss: −$4,261
• Est. tax savings @ 24.0%: +$1,023
• After-tax cash flow: $-468/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: Judson ISD
• NCES district ID: 4824990
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $57,542
• Composite: 24.39/100
• National rank: #7689
• State rank: #660 of 826 in TX

Livability — Converse

• Score: 66/100
• State rank: #649
• US rank: #12250

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment B Housing A+ Health & safety F User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Converse, TX
• County: Bexar County · 1,990,555 people
• City population: 1,806,925
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 1732.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -51.02%
• Current HPI: 236.4923
• Rent YoY: ▼ -1.08%
• 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

-10.8% since first listed

4 events — show timeline

• 2026-05-11 Relisted — LERA
• 2026-05-09 Contingent — LERA
• 2026-03-20 Price Changed $165,000 LERA
• 2026-02-03 Listed $185,000 LERA

Property tax history

+10.8%/yr

Latest (2025): $4,320 · +3.6% YoY. Source: county tax records.