1114 S San Marcos · San Antonio, TX 78207

$245,000

6 bd · 3.0 ba · 2,472 sqft · MultiFamily public records · 113 Days on market

Built 1920 4,835 sqft lot $99/sqft · 29% below area Est $347k · 29% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime Investment Opportunity - 3-Unit Multi-Family Property! Don't miss this solid investment property featuring three income-generating units, each with full appliance package. Conveniently located just minutes from downtown with easy highway access, this property offers both tenant appeal and long-term value. Easy access to four local parks and green spaces. A fantastic opportunity for investors seeking steady rental income.

Key facts

• Easy highway access
• 4,835 sq ft lot
• 2 parking spots

Tags

• 3 UNIT MULTI FAMILY PROPERTY
• FULL APPLIANCE PACKAGE
• EASY HIGHWAY ACCESS

🏷️ Possibly a rental listed for sale. The $245,000 price doesn't fit this home's estimated sale value (~$347,423) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $358/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $223k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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.

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.
• San Antonio ISD (urban): math 12% / reading 22% proficiency, ranked #805 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.7%/yr); 154 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $3,805/mo this rent would consume 141% of the median local household income ($32k/yr) (locally 2789% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 7.7% rent growth), your $69k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.55% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.81%
• DSCR: 1.84
• GRM: 5.4

CMA / ARV

• ARV (median comp): $347,423
• List price: $245,000
• Delta: -29.48%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 7.73% rent growth · sell at horizon

5-year hold

• IRR: 41.0%
• Equity multiple: 4.22×
• Total profit: $221,083
• Equity at exit: $220,715

10-year hold

• IRR: 37.4%
• Equity multiple: 10.39×
• Total profit: $644,120
• Equity at exit: $475,981

Cash invested: $68,600 (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 78207

• Home prices YoY: 15.2%
• Rents YoY: 7.7%
• Active inventory: 154
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $3,805 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$544 /mo · $6,528/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $1,075

Break-even live

Break-even rent $2,444

Max offer price $245,000

Occupancy floor 67%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,804
Total (3 units)			$3,805

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Dewitt San Antonio, TX	5.0	3.0	2250	$2,350	$1.04	1d	1	1.27mi

Listing history 48 events

1. 2026-06-18
   days on market $245,000 Active 113 DOM
2. 2026-06-17
   days on market $245,000 Active 112 DOM
3. 2026-06-16
   days on market $245,000 Active 111 DOM
4. 2026-06-15
   days on market $245,000 Active 110 DOM
5. 2026-06-13
   statusdays on market $245,000 Active 108 DOM
6. 2026-06-09
   days on market $245,000 Price Change 104 DOM
7. 2026-06-08
   days on market $245,000 Price Change 103 DOM
8. 2026-06-07
   days on market $245,000 Price Change 102 DOM
9. 2026-06-04
   days on market $245,000 Price Change 99 DOM
10. 2026-06-03
    days on market $245,000 Price Change 98 DOM
11. 2026-06-02
    pricestatusdays on market $245,000 Price Change 97 DOM
12. 2026-06-01
    days on market $250,000 Active 96 DOM
13. 2026-05-31
    days on market $250,000 Active 95 DOM
14. 2026-05-15
    price $250,000 430-char remark

    Show marketing remark (430 chars)

    Prime Investment Opportunity - 3-Unit Multi-Family Property! Don't miss this solid investment property featuring three income-generating units, each with full appliance package. Conveniently located just minutes from downtown with easy highway access, this property offers both tenant appeal and long-term value. Easy access to four local parks and green spaces. A fantastic opportunity for investors seeking steady rental income.

15. 2026-04-14
    price $255,000 430-char remark

    Show marketing remark (430 chars)

    Prime Investment Opportunity - 3-Unit Multi-Family Property! Don't miss this solid investment property featuring three income-generating units, each with full appliance package. Conveniently located just minutes from downtown with easy highway access, this property offers both tenant appeal and long-term value. Easy access to four local parks and green spaces. A fantastic opportunity for investors seeking steady rental income.

16. 2026-03-18
    price $260,000 430-char remark

    Show marketing remark (430 chars)

    Prime Investment Opportunity - 3-Unit Multi-Family Property! Don't miss this solid investment property featuring three income-generating units, each with full appliance package. Conveniently located just minutes from downtown with easy highway access, this property offers both tenant appeal and long-term value. Easy access to four local parks and green spaces. A fantastic opportunity for investors seeking steady rental income.

17. 2026-02-25
    listed $265,000 New 430-char remark

    Show marketing remark (430 chars)

    Prime Investment Opportunity - 3-Unit Multi-Family Property! Don't miss this solid investment property featuring three income-generating units, each with full appliance package. Conveniently located just minutes from downtown with easy highway access, this property offers both tenant appeal and long-term value. Easy access to four local parks and green spaces. A fantastic opportunity for investors seeking steady rental income.

18. 2025-06-22
    historical
19. 2025-03-12
    price $275,000
20. 2025-02-26
    listed $285,000 New
21. 2024-04-01
    soldstatus
22. 2024-03-29
    historical $1,100
23. 2024-03-28
    soldstatus Sold
24. 2024-03-20
    listed $1,100
25. 2024-03-11
    historical Active Option
26. 2024-02-08
    status Back on Market
27. 2024-01-29
    historical Active Option
28. 2024-01-23
    status Back on Market
29. 2024-01-12
    historical Active Option
30. 2023-12-31
    listed $175,000 New
31. 2023-11-07
    historical $650
32. 2023-09-28
    listed $650
33. 2023-07-11
    historical
34. 2018-12-28
    soldstatus
35. 2018-01-04
    soldstatus
36. 2016-10-11
    soldstatus
37. 2016-10-05
    soldstatus Sold
38. 2016-09-07
    status Pending
39. 2016-09-02
    historical Active Option
40. 2016-08-14
    price $24,500
41. 2016-08-06
    price $29,500
42. 2016-08-05
    status Back on Market
43. 2016-07-29
    historical
44. 2016-07-10
    price $31,900
45. 2016-06-28
    price $32,500
46. 2016-06-16
    price $35,900
47. 2016-05-27
    price $38,900
48. 2016-05-04
    listed $39,900 New

ⓘ 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: $6,528 · $544/mo
• Projected year-2 tax: $6,528 · $544/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,660
• − Mortgage interest: −$13,724
• − Property taxes: −$6,528
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,653
• − Management: −$3,653
• − Depreciation: −$7,127
• Taxable income: $9,751
• Est. tax owed @ 24.0%: −$2,340
• After-tax cash flow: $10,561/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: San Antonio ISD
• NCES district ID: 4838730
• Math proficiency: 12% ▼ -21.00%
• Reading proficiency: 22% ▼ -7.00%
• Median HH income: $30,952
• Composite: 13.57/100
• National rank: #9512
• State rank: #805 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): 55,474
• Household income: $32,472
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2789.0

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 (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 41% White 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 79%
• Foreign-born: 19% · Canada
• Languages at home: 39% English-only · Spanish 60%

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: ▲ 34.92%
• Current HPI: 264.7559
• Rent YoY: ▲ 7.73%
• 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

+526.6% since first listed

35 events — show timeline

• 2026-05-15 Price Changed $250,000 LERA
• 2026-04-14 Price Changed $255,000 LERA
• 2026-03-18 Price Changed $260,000 LERA
• 2026-02-25 Listed $265,000 LERA
• 2025-06-22 Listing Removed — LERA
• 2025-03-12 Price Changed $275,000 LERA
• 2025-02-26 Listed $285,000 LERA
• 2024-04-01 Sold (Public Records) — Public Records
• 2024-03-29 Rental Removed $1,100 APPFOLIO
• 2024-03-28 Sold (MLS) — LERA
• 2024-03-20 Listed for Rent $1,100 APPFOLIO
• 2024-03-11 Contingent — LERA
• 2024-02-08 Relisted — LERA
• 2024-01-29 Contingent — LERA
• 2024-01-23 Relisted — LERA
• 2024-01-12 Contingent — LERA
• 2023-12-31 Listed $175,000 LERA
• 2023-11-07 Rental Removed $650 APPFOLIO
• 2023-09-28 Listed for Rent $650 APPFOLIO
• 2023-07-11 Rental Removed — APPFOLIO
• 2018-12-28 Sold (Public Records) — Public Records
• 2018-01-04 Sold (Public Records) — Public Records
• 2016-10-11 Sold (Public Records) — Public Records
• 2016-10-05 Sold (MLS) — LERA
• 2016-09-07 Pending — LERA
• 2016-09-02 Contingent — LERA
• 2016-08-14 Price Changed $24,500 LERA
• 2016-08-06 Price Changed $29,500 LERA
• 2016-08-05 Relisted — LERA
• 2016-07-29 Listing Removed — LERA
• 2016-07-10 Price Changed $31,900 LERA
• 2016-06-28 Price Changed $32,500 LERA
• 2016-06-16 Price Changed $35,900 LERA
• 2016-05-27 Price Changed $38,900 LERA
• 2016-05-04 Listed $39,900 LERA

Property tax history

+13.7%/yr

Latest (2025): $6,528 · -0.9% YoY. Source: county tax records.