110 Plan St · San Antonio, TX 78203

$299,900

6 bd · 4.0 ba · 1,752 sqft · MultiFamily · 39 Days on market

Built 2021 Good condition 6,316 sqft lot $171/sqft · 13% below area Est $346k · 13% under ↓ 11% since listing

---

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 +15.4/30.0
• ARV discount +13.5/15.0
• Appreciation +5.7/10.0
• Rent growth +5.0/5.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +1.4/10.0

Multi-family units

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

Listing remarks MLS

MLS# 1608596 - Built by Ameritex Homes - Ready Now! ~ Amazing opportunity for investors or house hackers! Brand new duplex includes two identical units 876 sqft each with three bedrooms, two bathrooms and modern amenities throughout. Energy-efficient features and appliances are proven to drive down utility costs. Fully equipped with SMART HOME TECHNOLOGY that includes programmable thermostat, keyless smart locks all connected and secured through a smart home hub. AND it comes with a NEW HOME WARRANTY; Schedule a showing today before it's gone! . . Images may be reflective of a staged or representative unit; homes are unfurnished and features may vary by floor plan and location.

Key facts

• 6,316 sq ft lot
• 4 parking spots
• Built 2021

Property features AI

Finance

• Other: 10% assumed vacancy rate; For Sale
• Financial info: Gross annual income: $36,288; Net operating income: $26,292; Annual operating expenses: $13,750; Operating expenses include taxes, insurance, and maintenance; Down payment resources available
• HOA & community: Located in the Denver Heights subdivision

Exterior

• Parking: Unit 1: 2 pad parking spaces; Unit 2: 2 pad parking spaces
• Utilities: City water; Separate electric meters
• Home design: 2-unit property; Approximately 5 years old
• Construction: Slab foundation; Wood shingle/shake roof
• Exterior features: Cement fiber exterior

Interior

• Kitchen: Unit 1: Oven/stove, Dishwasher, Refrigerator; Unit 2: Oven/stove, Dishwasher, Disposal, Refrigerator
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Flooring: Laminate
• Bathrooms: Unit 1: 2 full baths; Unit 2: 2 full baths
• Heating & cooling: Central heating (electric); Central A/C
• Interior features: Laminate flooring
• Laundry & utility: Separate electric meters

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive. Per door: $57/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 $277k (7.7% below list).
• Recommended offer: $277k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 (+10.9%/yr); 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $2,769/mo this rent would consume 94% of the median local household income ($36k/yr) (locally 470% 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 $6k of equity ($2k loan paydown + $4k appreciation (1.3% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.3% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $276,900 (7.7% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

• ARV (median comp): $346,196
• List price: $299,900
• Delta: -13.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.34% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.39×
• Total profit: $32,560
• Equity at exit: $107,651

10-year hold

• IRR: 14.1%
• Equity multiple: 2.99×
• Total profit: $167,058
• Equity at exit: $147,226

Cash invested: $83,972 (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 78203

• Home prices YoY: 0.5%
• Rents YoY: 10.9%
• Active inventory: 99
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $2,769 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $115

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 91%

Sensitivity live

Price	-10% $322	-5% $219	+0% $115	+5% $11	+10% $-92
Rent	-10% $-104	-5% $6	+0% $115	+5% $224	+10% $334
Rate	-1.0pp $266	-0.5pp $191	base $115	+0.5pp $37	+1.0pp $-42

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,770
Total (2 units)			$2,769

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Hub Ave San Antonio, TX	5.0	2.0	1644	$1,200	$0.73	5d	1	0.85mi
206 Hub Ave San Antonio, TX	5.0	2.0	1644	$1,495	$0.91	24d	1	0.85mi
622 Denver Blvd San Antonio, TX	5.0	3.5	1990	$2,100	$1.06	44d	1	1.08mi
747 Bailey Ave San Antonio, TX	5.0	3.0	2069	$2,495	$1.21	13d	1	1.30mi

Listing history 17 events

1. 2026-06-18
   days on market $299,900 Active 39 DOM
2. 2026-06-17
   days on market $299,900 Active 38 DOM
3. 2026-06-16
   days on market $299,900 Active 37 DOM
4. 2026-06-15
   days on market $299,900 Active 36 DOM
5. 2026-06-13
   days on market $299,900 Active 34 DOM
6. 2026-06-09
   days on market $299,900 Active 30 DOM
7. 2026-06-08
   days on market $299,900 Active 29 DOM
8. 2026-06-07
   days on market $299,900 Active 28 DOM
9. 2026-06-04
   days on market $299,900 Active 25 DOM
10. 2026-06-03
    days on market $299,900 Active 24 DOM
11. 2026-06-02
    days on market $299,900 Active 23 DOM
12. 2026-06-01
    days on market $299,900 Active 22 DOM
13. 2026-05-31
    days on market $299,900 Active 21 DOM
14. 2026-05-10
    listed $299,900 New 441-char remark
15. 2022-06-30
    soldstatus Sold 686-char remark

    Show marketing remark (686 chars)

    MLS# 1608596 - Built by Ameritex Homes - Ready Now! ~ Amazing opportunity for investors or house hackers! Brand new duplex includes two identical units 876 sqft each with three bedrooms, two bathrooms and modern amenities throughout. Energy-efficient features and appliances are proven to drive down utility costs. Fully equipped with SMART HOME TECHNOLOGY that includes programmable thermostat, keyless smart locks all connected and secured through a smart home hub. AND it comes with a NEW HOME WARRANTY; Schedule a showing today before it's gone! . . Images may be reflective of a staged or representative unit; homes are unfurnished and features may vary by floor plan and location.

16. 2022-05-16
    listed $337,490 686-char remark

    Show marketing remark (686 chars)

    MLS# 1608596 - Built by Ameritex Homes - Ready Now! ~ Amazing opportunity for investors or house hackers! Brand new duplex includes two identical units 876 sqft each with three bedrooms, two bathrooms and modern amenities throughout. Energy-efficient features and appliances are proven to drive down utility costs. Fully equipped with SMART HOME TECHNOLOGY that includes programmable thermostat, keyless smart locks all connected and secured through a smart home hub. AND it comes with a NEW HOME WARRANTY; Schedule a showing today before it's gone! . . Images may be reflective of a staged or representative unit; homes are unfurnished and features may vary by floor plan and location.

17. 2022-05-16
    historical 686-char remark

    Show marketing remark (686 chars)

    MLS# 1608596 - Built by Ameritex Homes - Ready Now! ~ Amazing opportunity for investors or house hackers! Brand new duplex includes two identical units 876 sqft each with three bedrooms, two bathrooms and modern amenities throughout. Energy-efficient features and appliances are proven to drive down utility costs. Fully equipped with SMART HOME TECHNOLOGY that includes programmable thermostat, keyless smart locks all connected and secured through a smart home hub. AND it comes with a NEW HOME WARRANTY; Schedule a showing today before it's gone! . . Images may be reflective of a staged or representative unit; homes are unfurnished and features may vary by floor plan and location.

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 5 d/yr ≥108°F today · 14 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: $33,228
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,658
• − Management: −$2,658
• − Depreciation: −$8,724
• Taxable loss: −$3,610
• Est. tax savings @ 24.0%: +$866
• After-tax cash flow: $2,246/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 · 11 photos

Good 75/100 Cosmetic rehab

This well-maintained, good-condition duplex is ready for immediate viewing and investment. It offers a good return on investment with minimal updates needed.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Aesthetic improvements can attract more buyers and renters
• Resale Upgrading kitchen appliances — Modern appliances can increase the home's appeal to potential buyers
• Resale Upgrading bathroom fixtures — Upgraded fixtures can increase the home's appeal to potential buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Aesthetic improvements can attract more buyers and renters ↑
• Resale Upgrading kitchen appliances — Modern appliances can increase the home's appeal to potential buyers ↑
• Resale Upgrading bathroom fixtures — Upgraded fixtures can increase the home's appeal to potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 5,200
• Household income: $35,536
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 470.0

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 (84%)
• Race & ethnicity: Hispanic / Latino 84% Two or more races 37% Black 8% White 7% Native American 1%
• Hispanic origin (detail): Mexican 67% Puerto Rican 3%
• Common ancestry: Portuguese 2% Lithuanian 2%
• Foreign-born: 18% · Canada
• Languages at home: 53% English-only · Spanish 46%

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: ▲ 1.34%
• Current HPI: 257.4183
• Rent YoY: ▲ 10.86%
• 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

-11.1% since first listed

4 events — show timeline

• 2026-05-10 Listed $299,900 LERA
• 2022-06-30 Sold (MLS) — LERA
• 2022-05-16 Listing Removed — LERA
• 2022-05-16 Listed $337,490 LERA