8703-8705 Vista De Nubes · Converse, TX 78109

$395,000

6 bd · 6.0 ba · 3,032 sqft · MultiFamily · 63 Days on market

Built 2014 9,975 sqft lot $130/sqft · at area comps Est $384k · at est.

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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).

• Cash flow +13.8/30.0
• ARV discount +6.2/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Turnkey duplex opportunity in Judson Heights, recently refreshed and ready for immediate lease-up. Each unit features an open-concept layout with a spacious living area flowing into the kitchen and dining space, a convenient downstairs half bath, and all bedrooms upstairs, including a primary suite with a full bath. Both units (8703-8705) have been fully updated with fresh interior paint, new carpet, new wood decks, and new toilets, offering a clean, move-in ready feel that minimizes upfront costs for the next owner. Previously leased at $1,350 per unit, the property presents a projected gross annual income of $32,400. With estimated operating expenses of approximately $11,000-$13,000 annually (including property taxes of $9,800), the projected net operating income ranges from approximately $20,000-$22,600. Ideally located near shopping, dining, schools, Converse City Park, and Randolph AFB, with easy access to Loop 1604, this property is well-positioned for consistent rental demand. Whether you're looking to start or grow your portfolio, this is a strong opportunity with immediate leasing potential and minimal upfront work. Buyer to independently verify all income and expenses.

Key facts

• New carpet
• Fully updated
• Fresh interior paint

Tags

• TURNKEY DUPLEX OPPORTUNITY
• OPEN-CONCEPT LAYOUT
• PRIMARY SUITE WITH FULL BATH
• FULLY UPDATED
• FRESH INTERIOR PAINT
• NEW CARPET

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.5-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $33 ($394/yr) — positive. Per door: $16/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (11.5% below list).
• Recommended offer: $350k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: schools C-, crime C-, amenities 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.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $3,497/mo this rent would consume 46% of the median local household income ($91k/yr) (locally 1732% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 63 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $349,700 (11.5% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 11% 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. 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. 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?
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 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: 0.89% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $383,676
• List price: $395,000
• Delta: 2.95%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8702 Azul Sky	0.09mi	6/5.0	2,772 (-9%)	6mo	$379,999	$137	73
7218 7220 Colina Way	0.08mi	6/5.0	2,674 (-12%)	17mo	$389,000	$145	58

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: -19.1%
• Equity multiple: 0.35×
• Total profit: $-72,109
• Equity at exit: $58,896

10-year hold

• IRR: -19.6%
• Equity multiple: 0.10×
• Total profit: $-99,486
• Equity at exit: $34,152

Cash invested: $110,600 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1152
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $3,497 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$734
• Net cashflow: $33

Break-even live

Break-even rent $3,455

Max offer price $395,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3.5	$3,498
Total (2 units)			$3,497

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6911 Waterfall Pass Converse, TX	5.0	2.5	2109	$1,840	$0.87	43d	1	0.41mi
8223 Maple Meadow Dr Converse, TX	5.0	2.5	2330	$1,595	$0.68	43d	1	0.58mi
9019 Gore Cres Converse, TX	3.0–5.0	2.0–3.5	2058	$2,960	$1.44	1d	1	0.77mi
9206 Foxing Blfs Converse, TX	5.0	2.5	2544	$2,295	$0.90	23d	1	0.85mi
6622 Aglet Aly Converse, TX	5.0	3.5	2723	$2,300	$0.84	3d	1	0.88mi
9142 Canvas Run Converse, TX	5.0	3.0	2544	$2,595	$1.02	16d	1	0.94mi
9338 Espadrille Run Converse, TX	5.0	2.5	2543	$2,197	$0.86	23d	1	0.97mi
5735 Cool River Way San Antonio, TX	3.0–5.0	2.0–3.5	2059	$2,142	$1.04	1d	5	1.21mi

Listing history 18 events

1. 2026-06-18
   days on market $395,000 Active 63 DOM
2. 2026-06-17
   days on market $395,000 Active 62 DOM
3. 2026-06-16
   days on market $395,000 Active 61 DOM
4. 2026-06-15
   days on market $395,000 Active 60 DOM
5. 2026-06-13
   days on market $395,000 Active 58 DOM
6. 2026-06-09
   statusdays on market $395,000 Active 54 DOM
7. 2026-06-08
   days on market $395,000 Price Change 53 DOM
8. 2026-06-07
   days on market $395,000 Price Change 52 DOM
9. 2026-06-04
   days on market $395,000 Price Change 49 DOM
10. 2026-06-03
    days on market $395,000 Price Change 48 DOM
11. 2026-06-02
    days on market $395,000 Price Change 47 DOM
12. 2026-06-01
    days on market $395,000 Price Change 46 DOM
13. 2026-05-31
    days on market $395,000 Price Change 45 DOM
14. 2026-04-16
    listed $415,000 New 1197-char remark

    Show marketing remark (1197 chars)

    Turnkey duplex opportunity in Judson Heights, recently refreshed and ready for immediate lease-up. Each unit features an open-concept layout with a spacious living area flowing into the kitchen and dining space, a convenient downstairs half bath, and all bedrooms upstairs, including a primary suite with a full bath. Both units (8703-8705) have been fully updated with fresh interior paint, new carpet, new wood decks, and new toilets, offering a clean, move-in ready feel that minimizes upfront costs for the next owner. Previously leased at $1,350 per unit, the property presents a projected gross annual income of $32,400. With estimated operating expenses of approximately $11,000-$13,000 annually (including property taxes of $9,800), the projected net operating income ranges from approximately $20,000-$22,600. Ideally located near shopping, dining, schools, Converse City Park, and Randolph AFB, with easy access to Loop 1604, this property is well-positioned for consistent rental demand. Whether you're looking to start or grow your portfolio, this is a strong opportunity with immediate leasing potential and minimal upfront work. Buyer to independently verify all income and expenses.

15. 2016-07-15
    soldstatus Sold 517-char remark

    Show marketing remark (517 chars)

    New construction completed Oct 2014! Open floor plan. Each unit has 3 bedrooms (all upstairs), 2 full bathrooms up, & powder bath down. Granite counter tops in kitchen & bathrooms. Range, microwave, & dishwasher. Ceramic tile floors in entry, kitchen & bathrooms, carpet in living & bedrooms. Ceiling fan in living & master bdrm. 6' wood privacy fence. Close to nearby Randolph Air Force Base, shopping, restaurants, & minutes to Ft. Sam Houston. Photos are unit prior to tenant moving in.

16. 2016-07-11
    status Pending 517-char remark

    Show marketing remark (517 chars)

    New construction completed Oct 2014! Open floor plan. Each unit has 3 bedrooms (all upstairs), 2 full bathrooms up, & powder bath down. Granite counter tops in kitchen & bathrooms. Range, microwave, & dishwasher. Ceramic tile floors in entry, kitchen & bathrooms, carpet in living & bedrooms. Ceiling fan in living & master bdrm. 6' wood privacy fence. Close to nearby Randolph Air Force Base, shopping, restaurants, & minutes to Ft. Sam Houston. Photos are unit prior to tenant moving in.

17. 2016-06-05
    historical Active Option 517-char remark

    Show marketing remark (517 chars)

    New construction completed Oct 2014! Open floor plan. Each unit has 3 bedrooms (all upstairs), 2 full bathrooms up, & powder bath down. Granite counter tops in kitchen & bathrooms. Range, microwave, & dishwasher. Ceramic tile floors in entry, kitchen & bathrooms, carpet in living & bedrooms. Ceiling fan in living & master bdrm. 6' wood privacy fence. Close to nearby Randolph Air Force Base, shopping, restaurants, & minutes to Ft. Sam Houston. Photos are unit prior to tenant moving in.

18. 2016-05-16
    listed $289,900 New 517-char remark

    Show marketing remark (517 chars)

    New construction completed Oct 2014! Open floor plan. Each unit has 3 bedrooms (all upstairs), 2 full bathrooms up, & powder bath down. Granite counter tops in kitchen & bathrooms. Range, microwave, & dishwasher. Ceramic tile floors in entry, kitchen & bathrooms, carpet in living & bedrooms. Ceiling fan in living & master bdrm. 6' wood privacy fence. Close to nearby Randolph Air Force Base, shopping, restaurants, & minutes to Ft. Sam Houston. Photos are unit prior to tenant moving in.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 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: $41,964
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,357
• − Management: −$3,357
• − Depreciation: −$11,491
• Taxable loss: −$6,267
• Est. tax savings @ 24.0%: +$1,504
• After-tax cash flow: $1,899/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: 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: 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

+43.2% since first listed

5 events — show timeline

• 2026-04-16 Listed $415,000 LERA
• 2016-07-15 Sold (MLS) — LERA
• 2016-07-11 Pending — LERA
• 2016-06-05 Contingent — LERA
• 2016-05-16 Listed $289,900 LERA