11405 Evergreen Rose · Converse, TX 78109

$175,199

4 bd · 2.0 ba · 1,500 sqft · SingleFamily · 78 Days on market

Built 2026 Good condition 4,791 sqft lot $117/sqft · 10% below area Est $194k · 10% under $69/mo HOA · 4% of rent

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Why this score? — see what drove the C- 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).

• Cash flow +17.5/30.0
• ARV discount +11.8/15.0
• DSCR +5.5/10.0
• 1% rule +5.2/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

The Timms- This convenient single-story plan opens to three secondary bedrooms framing the entryway. Down the hall, an open peninsula-style kitchen overlooks an inviting dining area and a spacious family room, ideal for seamless modern living. The owner's suite is ideally situated in the back corner to provide a serene retreat, featuring a bedroom, attached bathroom and a walk-in closet. Estimated Completion October 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

• 4,791 sq ft lot
• Built 2026
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $165k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.4% in Converse — 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.

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.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Central Heritage Middle (math 11% / reading 26%, grade F, #1,478 of 1,662 statewide, top 90%, 1,120 students, 44% FRL); East Central H S (math 21% / reading 28%, grade F, #1,264 of 1,632 statewide, top 82%, 3,252 students, 52% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1757 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 78 days — a 6% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Recommended offer $164,687 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 8.2

CMA / ARV

• ARV (median comp): $193,874
• List price: $175,199
• Delta: -9.63%
• 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
11311 Evergreen Rose	0.00mi	4/2.0	1,500 (0%)	2mo	$172,099	$115	99
11331 Evergreen Rose	0.00mi	4/2.0	1,483 (-1%)	1mo	$201,999	$136	97
2122 French Rose	0.05mi	4/2.0	1,500 (0%)	3mo	$173,999	$116	96
11581 Cinnamon Rose	0.08mi	4/2.0	1,500 (0%)	2mo	$173,449	$116	95
2101 French Rose	0.06mi	4/2.0	1,483 (-1%)	1mo	$200,999	$136	95
1952 Pasture Rose	0.12mi	3/2.0 (-1)	1,402 (-6%)	1mo	$197,999	$141	78
2126 French Rose	0.06mi	3/2.0 (-1)	1,380 (-8%)	2mo	$186,749	$135	78
2118 French Rose	0.04mi	3/2.0 (-1)	1,380 (-8%)	3mo	$165,349	$120	78
1941 Pasture Rose	0.18mi	3/2.0 (-1)	1,411 (-6%)	2mo	$198,999	$141	74
11319 Evergreen Rose	0.00mi	4/2.5	1,692 (+13%)	3mo	$217,999	$129	74
11561 Cinnamon Rose	0.10mi	4/2.5	1,692 (+13%)	1mo	$214,999	$127	71
11227 Prairie Lndg	0.73mi	3/2.0 (-1)	1,719 (+15%)	2mo	$299,990	$175	35

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: -14.7%
• Equity multiple: 0.49×
• Total profit: $-24,997
• Equity at exit: $26,123

10-year hold

• IRR: -12.4%
• Equity multiple: 0.37×
• Total profit: $-30,725
• Equity at exit: $15,148

Cash invested: $49,056 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 59 active · 34 under contract
• Months of supply: 9.3 mo (11%/mo absorbed)
• Median asking: $252,990 ($160/sqft)
• Median days on market: 322 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -19.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1757
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,790 high
• Mortgage (P&I): −$919
• Tax est. 1.5%: −$219 /mo · $2,628/yr
• Insurance: −$73
• HOA: −$69
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $135

Break-even live

Break-even rent $1,620

Max offer price $175,199

Occupancy floor 87%

Sensitivity live

Price	-10% $256	-5% $195	+0% $135	+5% $74	+10% $13
Rent	-10% $-7	-5% $64	+0% $135	+5% $205	+10% $276
Rate	-1.0pp $223	-0.5pp $179	base $135	+0.5pp $89	+1.0pp $43

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: $43,800
• Closing costs: $5,256
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11327 Evergreen Rose Converse, TX	4.0	2.5	1802	$1,500	$0.83	10d	1	0.03mi
1937 Pasture Rose Converse, TX	4.0	2.0	1575	$1,545	$0.98	29d	1	0.09mi
11559 Field Briar Converse, TX	3.0	2.0	1380	$1,395	$1.01	10d	1	0.22mi
2235 Camellia Rose Converse, TX	4.0	2.0	1500	$1,450	$0.97	6d	1	0.22mi
11653 Dog Rose Converse, TX	4.0	2.0	1483	$1,449	$0.98	10d	1	0.27mi
11507 Field Briar Converse, TX	3.0	2.0	1200	$1,450	$1.21	10d	1	0.27mi
11767 Arctic Rose Converse, TX	3.0	2.0	1450	$1,500	$1.03	24d	1	0.29mi
11602 Dog Rose Converse, TX	3.0	2.0	1354	$1,650	$1.22	119d	1	0.29mi
4611 E 1604 N Converse, TX	1.0–4.0	1.0–2.0	990	$1,413	$1.43	0d	1	0.62mi
11221 Hollinger Cir Converse, TX	3.0	2.5	1788	$1,900	$1.06	10d	1	0.92mi
11151 Hollinger Cir Converse, TX	4.0	2.5	1859	$1,705	$0.92	119d	1	0.98mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1689	$1,950	$1.15	97d	1	0.99mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1709	$1,950	$1.14	117d	1	0.99mi
11131 Hollinger Cir Converse, TX	3.0	2.5	1628	$2,300	$1.41	84d	1	1.01mi
11050 Eyelet Hbr Converse, TX	4.0	2.5	2205	$1,875	$0.85	139d	1	1.03mi
2810 Praline Fry Converse, TX	4.0	2.5	2204	$1,745	$0.79	139d	1	1.04mi
2818 Praline Fry Converse, TX	3.0	2.5	1428	$1,500	$1.05	84d	1	1.04mi
2822 Praline Fry Converse, TX	3.0	2.0	1525	$1,770	$1.16	67d	1	1.04mi
3106 Drayton Ests Converse, TX	2.0–5.0	2.0–3.5	1733	$2,293	$1.32	0d	1	1.04mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	119d	1	1.04mi
2815 Praline Fry Converse, TX	4.0	2.5	2204	$1,790	$0.81	60d	1	1.07mi
11038 Chatham Ct Converse, TX	4.0	2.5	2205	$1,699	$0.77	29d	1	1.07mi
11030 Yonder Flts Converse, TX	3.0	2.5	1428	$1,500	$1.05	100d	1	1.08mi
11026 Yonder Flts Converse, TX	3.0	2.0	1525	$1,725	$1.13	74d	1	1.09mi
2826 Tybee Crk Converse, TX	4.0	2.5	2204	$1,830	$0.83	100d	1	1.09mi
11002 Eyelet Hbr Converse, TX	4.0	2.5	2204	$1,745	$0.79	139d	1	1.12mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	139d	1	1.12mi
3006 Citron Gdn Converse, TX	4.0	2.5	2198	$1,750	$0.80	10d	1	1.13mi
2838 Citron Gdn Converse, TX	4.0	2.5	2204	$1,825	$0.83	3d	1	1.14mi
2927 Citron Gdn Converse, TX	3.0	2.5	1428	$1,565	$1.10	7d	1	1.16mi
2927 Citron Gdn Converse, TX	3.0	2.5	1428	$1,565	$1.10	6d	1	1.16mi
10922 Chatham Ct Converse, TX	3.0	2.0	1525	$1,635	$1.07	24d	1	1.20mi
2939 Gastonian Ml Converse, TX	3.0	2.0	1525	$1,495	$0.98	139d	1	1.21mi
10918 Chatham Ct Converse, TX	4.0	2.5	2205	$1,789	$0.81	10d	1	1.21mi
10918 Chatham Ct Converse, TX	4.0	2.5	2205	$2,049	$0.93	40d	1	1.21mi
2927 Gastonian Ml Converse, TX	4.0	2.5	2205	$1,850	$0.84	97d	1	1.21mi
2927 Gastonian Ml Converse, TX	4.0	2.5	2205	$1,850	$0.84	94d	1	1.21mi
2927 Gastonian Ml Converse, TX	4.0	2.5	2205	$1,750	$0.79	70d	1	1.21mi
10950 Chippewa Trce Converse, TX	4.0	2.5	2205	$1,800	$0.82	119d	1	1.21mi
10950 Chippewa Trce Converse, TX	4.0	2.5	2205	$1,750	$0.79	94d	1	1.21mi

Property features AI

Finance

• Other: Listing status: ActiveLast modified: 2026-05-31
• Financial info: List price $175,999

Exterior

• Home design: Single-family home (spec new construction)Timms floor plan
• Exterior features: Living area of 1500Address: 11405 Evergreen Rose, Converse, TX 78109

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 bathrooms (both full)
• Interior features: Spec new construction (Timms plan)

Listing history 50 events

1. 2026-09-24
   days on market $175,199 Active 78 DOM
2. 2026-09-23
   days on market $175,199 Active 77 DOM
3. 2026-09-22
   days on market $175,199 Active 76 DOM
4. 2026-09-21
   days on market $175,199 Active 75 DOM
5. 2026-09-20
   days on market $175,199 Active 74 DOM
6. 2026-09-19
   days on market $175,199 Active 73 DOM
7. 2026-09-18
   days on market $175,199 Active 72 DOM
8. 2026-09-17
   days on market $175,199 Active 71 DOM
9. 2026-09-16
   days on market $175,199 Active 70 DOM
10. 2026-09-15
    days on market $175,199 Active 69 DOM
11. 2026-09-14
    days on market $175,199 Active 68 DOM
12. 2026-09-13
    days on market $175,199 Active 67 DOM
13. 2026-09-12
    days on market $175,199 Active 66 DOM
14. 2026-09-11
    days on market $175,199 Active 65 DOM
15. 2026-09-05
    days on market $175,199 Active 59 DOM
16. 2026-09-04
    days on market $175,199 Active 58 DOM
17. 2026-09-03
    days on market $175,199 Active 57 DOM
18. 2026-08-30
    days on market $175,199 Active 53 DOM
19. 2026-08-29
    days on market $175,199 Active 52 DOM
20. 2026-08-28
    statusdays on market $175,199 Active 51 DOM
21. 2026-08-27
    days on market $175,199 Price Change 50 DOM
22. 2026-08-26
    days on market $175,199 Price Change 49 DOM
23. 2026-08-25
    days on market $175,199 Price Change 48 DOM
24. 2026-08-24
    days on market $175,199 Price Change 47 DOM
25. 2026-08-23
    days on market $175,199 Price Change 46 DOM
26. 2026-08-22
    days on market $175,199 Price Change 45 DOM
27. 2026-08-21
    days on market $175,199 Price Change 44 DOM
28. 2026-08-20
    days on market $175,199 Price Change 43 DOM
29. 2026-08-19
    days on market $175,199 Price Change 42 DOM
30. 2026-08-18
    days on market $175,199 Price Change 41 DOM
31. 2026-08-17
    pricedays on market $175,199 Price Change 40 DOM
32. 2026-08-16
    days on market $174,999 Price Change 39 DOM
33. 2026-08-15
    days on market $174,999 Price Change 38 DOM
34. 2026-08-14
    days on market $174,999 Price Change 37 DOM
35. 2026-08-13
    days on market $174,999 Price Change 36 DOM
36. 2026-08-12
    days on market $174,999 Price Change 35 DOM
37. 2026-08-11
    days on market $174,999 Price Change 34 DOM
38. 2026-08-10
    pricestatus $174,999 Price Change 33 DOM
39. 2026-08-10
    days on market $174,799 Active 33 DOM
40. 2026-08-09
    days on market $174,799 Active 32 DOM
41. 2026-08-08
    days on market $174,799 Active 31 DOM
42. 2026-08-06
    days on market $174,799 Active 29 DOM
43. 2026-08-05
    days on market $174,799 Active 28 DOM
44. 2026-08-04
    days on market $174,799 Active 27 DOM
45. 2026-08-03
    days on market $174,799 Active 26 DOM
46. 2026-07-31
    statusdays on market $174,799 Active 23 DOM
47. 2026-07-30
    days on market $174,799 Price Change 21 DOM
48. 2026-07-28
    days on market $174,799 Price Change 20 DOM
49. 2026-07-26
    days on market $174,799 Price Change 18 DOM
50. 2026-07-24
    days on market $174,799 Price Change 16 DOM

ⓘ 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: $21,483
• − Mortgage interest: −$9,814
• − Property taxes: −$2,628
• − Insurance: −$876
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − HOA: −$828
• − Depreciation: −$5,097
• Taxable loss: −$1,197
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $1,902/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $7,500–$22,500 screening

This modern single-level home is in good condition with a good condition score of 80. It features a well-maintained exterior, modern kitchen, and bathrooms. The home is move-in ready with minor cosmetic updates needed for the exterior siding and curtains.

Value-add opportunities

• Resale Paint the exterior siding — Enhances curb appeal and can add value ↑
• Rental Replace the curtains — Fresh curtains can make the space more inviting for renters ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Middle East Central Heritage Middle F TX #1,478/1,662 Nat'l #12,017/14,009 High East Central H S F TX #1,264/1,632 Nat'l #12,478/17,239

Schools (NCES district)

• District: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 of 826 in TX

C Composite livability gradescore 66/100

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

• County: Bexar County · 2,336,851 people
• City population: 63,067
• 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: 16% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Listing status: ActiveLast modified: 2026-05-31
• Financial info: List price $175,999

Exterior

• Home design: Single-family home (spec new construction)Timms floor plan
• Exterior features: Living area of 1500Address: 11405 Evergreen Rose, Converse, TX 78109

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 bathrooms (both full)
• Interior features: Spec new construction (Timms plan)