1021 Cherry · San Antonio, TX 78202

$190,000

3 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 104 Days on market

Built 1930 4,660 sqft lot $143/sqft · 44% below area Est $341k · 44% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• Appreciation +10.0/10.0
• 1% rule +5.2/10.0
• Rent growth +4.5/5.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Adjacent 1021 is also for sale and these homes can be purchased together or separately. Historic home with great trees for remodel or lot for new build. Please do not disturb current tenant. Tenant can remain or be out for closing. Many attractive new builds and renovations nearby. Two blocks from new skate board sports park. 1023 Cherry is adjacent and also for sale. The two homes/lots can be purchased together or separately. Seller will consider owner financing.

Key facts

• 4,660 sq ft lot
• Built 1930
• Listed 104 days

🏷️ Possibly a rental listed for sale. The $190,000 price doesn't fit this home's estimated sale value (~$341,463) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $44 ($529/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: 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.
• Zoned schools: Bowden Academy (math 10% / reading 18%, grade F, #4,127 of 4,322 statewide, top 96%, 477 students, 94% FRL, charter); Brackenridge H S (math 12% / reading 25%, grade F, #1,436 of 1,632 statewide, top 88%, 1,568 students, 88% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 201 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); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k 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 + 8.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% 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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
8. 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.
9. 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: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 8.1

CMA / ARV

• ARV (median comp): $341,463
• List price: $190,000
• Delta: -44.36%
• 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
826 N Pine St	0.46mi	2/1.5 (-1)	1,368 (+3%)	5mo	$250,000	$183	62
1669 Olive Ibis	0.54mi	3/2.0	1,280 (-4%)	4mo	$229,950	$180	62
1629 Olive Ibis	0.52mi	3/2.0	1,280 (-4%)	4mo	$229,950	$180	62
1119 N Pine St	0.36mi	3/2.0	1,432 (+8%)	7mo	$297,000	$207	61
115 Sharer	0.48mi	3/2.0	1,245 (-6%)	4mo	$316,000	$254	59
1661 Olive Ibis	0.53mi	3/2.0	1,280 (-4%)	7mo	$229,245	$179	59
1621 Olive Ibis	0.51mi	3/2.0	1,434 (+8%)	4mo	$242,950	$169	56
1657 Olive Ibis	0.53mi	3/2.0	1,434 (+8%)	6mo	$246,200	$172	53
1719 Interstate 35	0.59mi	3/2.0	1,418 (+7%)	6mo	$275,000	$194	52
1019 Nolan	0.64mi	3/1.0	1,184 (-11%)	2mo	$210,000	$177	50
1645 Olive Ibis	0.53mi	3/2.5	1,470 (+11%)	6mo	$240,245	$163	47
823 N Palmetto	0.68mi	3/2.0	1,462 (+10%)	1mo	$265,000	$181	46

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 3.19×
• Total profit: $116,704
• Equity at exit: $171,167

10-year hold

• IRR: 25.3%
• Equity multiple: 7.90×
• Total profit: $367,210
• Equity at exit: $369,128

Cash invested: $53,200 (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 78202

• Home prices YoY: 27.0%
• Rents YoY: 8.2%
• Active inventory: 201
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,945 high
• Mortgage (P&I): −$996
• Tax from tax record: −$417 /mo · $5,003/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $44

Break-even live

Break-even rent $1,889

Max offer price $190,000

Occupancy floor 93%

Sensitivity live

Price	-10% $152	-5% $98	+0% $44	+5% $-10	+10% $-63
Rent	-10% $-110	-5% $-33	+0% $44	+5% $121	+10% $198
Rate	-1.0pp $140	-0.5pp $92	base $44	+0.5pp $-5	+1.0pp $-55

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 N Alamo St San Antonio, TX	2.0	1.0	1202	$2,000	$1.66	45d	1	0.24mi
704 N Cherry St Unit 704 San Antonio, TX	2.0	2.5	1200	$1,800	$1.50	45d	1	0.25mi
1018 N Olive St San Antonio, TX	3.0	2.0	1600	$1,495	$0.93	45d	1	0.29mi
1221 Broadway San Antonio, TX	2.0	1.0–2.0	851	$2,390	$2.81	0d	10	0.37mi
603 N Mesquite St San Antonio, TX	3.0	2.5	1333	$1,750	$1.31	25d	1	0.37mi
111 W Jones Ave San Antonio, TX	2.0	1.0–2.0	773	$2,689	$3.48	3d	17	0.40mi
891 Avenue B San Antonio, TX	2.0	2.0	1053	$1,777	$1.69	45d	1	0.40mi
120 9th St San Antonio, TX	1.0–2.0	1.0–2.0	923	$2,054	$2.22	0d	22	0.44mi
1606 N Hackberry St #102 San Antonio, TX	2.0	2.5	1474	$2,500	$1.70	12d	1	0.46mi
431 N Mesquite St San Antonio, TX	3.0	2.0	1220	$1,750	$1.43	16d	1	0.47mi
1542 N Alamo St San Antonio, TX	2.0	2.0	1013	$2,485	$2.45	45d	1	0.48mi
1542 N Alamo St San Antonio, TX	1.0–2.0	1.0–2.0	852	$2,000	$2.35	6d	2	0.48mi
821 Burleson San Antonio, TX	2.0	2.5	1456	$1,629	$1.12	45d	1	0.49mi
122 Roy Smith St San Antonio, TX	3.0	1.0–3.0	996	$3,299	$3.31	0d	17	0.51mi
503 Avenue A San Antonio, TX	2.0	1.0–2.0	906	$3,495	$3.86	0d	57	0.62mi
1203 Austin St San Antonio, TX	1.0–2.0	1.0–2.0	933	$2,698	$2.89	0d	42	0.63mi
201 E Carson St Unit 2 San Antonio, TX	2.0	2.0	927	$2,500	$2.70	45d	1	0.63mi
201 E Carson St Unit 1 San Antonio, TX	2.0	2.0	1854	$2,250	$1.21	25d	1	0.63mi
1121 Willow St San Antonio, TX	2.0	1.0	900	$1,000	$1.11	45d	1	0.63mi
330 E Carson St San Antonio, TX	2.0	2.0	1398	$1,890	$1.35	21d	1	0.64mi
330 E Carson St Unit 2103 San Antonio, TX	3.0	3.0	1428	$1,930	$1.35	25d	1	0.64mi
330 E Carson St Unit 3103 San Antonio, TX	2.0	2.5	1398	$1,890	$1.35	25d	1	0.64mi
330 E Carson St Unit 2103 San Antonio, TX	3.0	3.0	1428	$2,215	$1.55	45d	1	0.64mi
330 E Carson St Unit 1201 San Antonio, TX	2.0	2.0	1215	$1,650	$1.36	25d	1	0.64mi
330 E Carson St Unit 3103 San Antonio, TX	2.0	2.5	1398	$2,170	$1.55	45d	1	0.64mi
330 E Carson St San Antonio, TX	2.0	2.0	1398	$1,890	$1.35	23d	1	0.64mi
1800 Broadway St San Antonio, TX	2.0	1.0–2.5	1100	$2,734	$2.49	0d	41	0.65mi
410 E Carson St Unit 3 San Antonio, TX	2.0	1.5	900	$1,800	$2.00	45d	1	0.69mi
312 Pearl Pkwy San Antonio, TX	1.0–2.0	1.5–2.0	1118	$6,475	$5.79	45d	4	0.69mi
511 N Monumental San Antonio, TX	2.0	2.0	1206	$1,595	$1.32	6d	1	0.69mi
215 Center St #307 San Antonio, TX	2.0	2.0	1424	$2,350	$1.65	25d	1	0.70mi
215 Center St #307 San Antonio, TX	2.0	2.0	1424	$2,350	$1.65	21d	1	0.70mi
1102 Burleson San Antonio, TX	3.0	2.0	1400	$2,500	$1.79	25d	1	0.72mi
118 Canadian St San Antonio, TX	3.0	2.0	1232	$2,300	$1.87	45d	1	0.72mi
1116 Muncey St Unit 2 San Antonio, TX	3.0	2.0	896	$1,500	$1.67	18d	1	0.72mi
1116 Muncey St Unit 1 San Antonio, TX	3.0	2.0	896	$1,600	$1.79	45d	1	0.72mi
239 Center St San Antonio, TX	2.0	1.0–2.0	842	$1,770	$2.10	0d	16	0.72mi
1225 Burnet St Unit 101 San Antonio, TX	3.0	2.0	1218	$1,850	$1.52	45d	1	0.74mi
1219 Muncey San Antonio, TX	2.0	2.0	944	$1,350	$1.43	25d	1	0.76mi
1915 Broadway Unit 710 San Antonio, TX	2.0	2.0	1134	$2,058	$1.81	0d	1	0.76mi

Listing history 27 events

1. 2026-06-21
   days on market $190,000 Active 104 DOM
2. 2026-06-18
   days on market $190,000 Active 101 DOM
3. 2026-06-17
   days on market $190,000 Active 100 DOM
4. 2026-06-16
   days on market $190,000 Active 99 DOM
5. 2026-06-15
   days on market $190,000 Active 98 DOM
6. 2026-06-13
   days on market $190,000 Active 96 DOM
7. 2026-06-09
   days on market $190,000 Active 92 DOM
8. 2026-06-08
   days on market $190,000 Active 91 DOM
9. 2026-06-07
   days on market $190,000 Active 90 DOM
10. 2026-06-04
    days on market $190,000 Active 87 DOM
11. 2026-06-03
    days on market $190,000 Active 86 DOM
12. 2026-06-02
    days on market $190,000 Active 85 DOM
13. 2026-06-01
    days on market $190,000 Active 84 DOM
14. 2026-05-31
    days on market $190,000 Active 83 DOM
15. 2026-03-08
    listed $190,000 New 468-char remark

    Show marketing remark (468 chars)

    Adjacent 1021 is also for sale and these homes can be purchased together or separately. Historic home with great trees for remodel or lot for new build. Please do not disturb current tenant. Tenant can remain or be out for closing. Many attractive new builds and renovations nearby. Two blocks from new skate board sports park. 1023 Cherry is adjacent and also for sale. The two homes/lots can be purchased together or separately. Seller will consider owner financing.

16. 2022-02-16
    soldstatus
17. 2022-02-15
    soldstatus Sold 331-char remark

    Show marketing remark (331 chars)

    MOTIVATED SELLER! BEING SOLD AS IS! Calling all Developers and Investors!! Prime opportunity for an investor looking to acquire property in the Dignowity Hill District to renovate and lease or resale. Property is in close proximity to Interstate 35, Interstate 37 and Interstate 10. THIS PROPERTY DOES NOT HAVE A HISTORICAL ZONING.

18. 2022-02-10
    status Pending 331-char remark

    Show marketing remark (331 chars)

    MOTIVATED SELLER! BEING SOLD AS IS! Calling all Developers and Investors!! Prime opportunity for an investor looking to acquire property in the Dignowity Hill District to renovate and lease or resale. Property is in close proximity to Interstate 35, Interstate 37 and Interstate 10. THIS PROPERTY DOES NOT HAVE A HISTORICAL ZONING.

19. 2022-02-04
    historical Active Option 331-char remark

    Show marketing remark (331 chars)

    MOTIVATED SELLER! BEING SOLD AS IS! Calling all Developers and Investors!! Prime opportunity for an investor looking to acquire property in the Dignowity Hill District to renovate and lease or resale. Property is in close proximity to Interstate 35, Interstate 37 and Interstate 10. THIS PROPERTY DOES NOT HAVE A HISTORICAL ZONING.

20. 2021-12-21
    price $185,000 331-char remark

    Show marketing remark (331 chars)

    MOTIVATED SELLER! BEING SOLD AS IS! Calling all Developers and Investors!! Prime opportunity for an investor looking to acquire property in the Dignowity Hill District to renovate and lease or resale. Property is in close proximity to Interstate 35, Interstate 37 and Interstate 10. THIS PROPERTY DOES NOT HAVE A HISTORICAL ZONING.

21. 2021-12-06
    historical
22. 2021-09-29
    listed $242,500 New 331-char remark

    Show marketing remark (331 chars)

    MOTIVATED SELLER! BEING SOLD AS IS! Calling all Developers and Investors!! Prime opportunity for an investor looking to acquire property in the Dignowity Hill District to renovate and lease or resale. Property is in close proximity to Interstate 35, Interstate 37 and Interstate 10. THIS PROPERTY DOES NOT HAVE A HISTORICAL ZONING.

23. 2021-07-01
    listed $485,000 New
24. 2007-03-06
    soldstatus
25. 2007-03-06
    soldstatus
26. 2006-10-20
    historical
27. 2006-03-21
    listed $30,000

ⓘ 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: $5,003 · $417/mo
• Projected year-2 tax: $5,003 · $417/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 6/10 Major 77% 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: $23,340
• − Mortgage interest: −$10,643
• − Property taxes: −$5,003
• − Insurance: −$950
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$5,527
• Taxable loss: −$2,518
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $1,133/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): 10,224
• Household income: $47,478
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 543.0

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 (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 28% White 17% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 57% Puerto Rican 1% Cuban 1%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 59% English-only · Spanish 41%

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: ▲ 53.82%
• Current HPI: 253.3196
• Rent YoY: ▲ 8.20%
• 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

+533.3% since first listed

13 events — show timeline

• 2026-03-08 Listed $190,000 LERA
• 2022-02-16 Sold (Public Records) — Public Records
• 2022-02-15 Sold (MLS) — LERA
• 2022-02-10 Pending — LERA
• 2022-02-04 Contingent — LERA
• 2021-12-21 Price Changed $185,000 LERA
• 2021-12-06 Listing Removed — LERA
• 2021-09-29 Listed $242,500 LERA
• 2021-07-01 Listed $485,000 LERA
• 2007-03-06 Sold (Public Records) — Public Records
• 2007-03-06 Sold (Public Records) — Public Records
• 2006-10-20 Listing Removed — LERA
• 2006-03-21 Listed $30,000 LERA

Property tax history

+12.7%/yr

Latest (2025): $5,003 · -2.4% YoY. Source: county tax records.