123 W Mitchell · San Antonio, TX 78204

$255,000

2 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 115 Days on market

Built 1946 5,009 sqft lot $182/sqft · 9% below area Est $282k · 9% under ↓ 47% since listing

---

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).

• ARV discount +11.7/15.0
• Appreciation +10.0/10.0
• Cash flow +7.1/30.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +1.5/10.0
• Schools +1.4/10.0
• DSCR +1.3/10.0

Listing remarks MLS

*All net/gross income and operating expenses are approximate** Location! Location! Location! This home is for sale with 121 W Mitchell MLS 1943357 right next door for sale as well! Can also be sold as a bundle. These homes are located right across the street from Confluence Park, feet away from the San Antonio River/ bike trails,The Historic San Antonio Missions, the LoneStar/BlueStar areas, South Town and the Pearl! Just the perfect place to keep as a rental or to live in. Come out and take a look !

Key facts

• Confluence park
• Pearl
• Bike trails

Tags

• CONFLUENCE PARK
• SAN ANTONIO RIVER
• BIKE TRAILS
• HISTORIC SAN ANTONIO MISSIONS
• SOUTH TOWN
• PEARL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-363 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (25.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (34.8% below list).
• Recommended offer: $166k (34.8% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.8% in San Antonio — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 soft (-1.4%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $225k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $166,362 (34.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.10%
• DSCR: 0.73
• GRM: 12.8

CMA / ARV

• ARV (median comp): $281,501
• List price: $255,000
• Delta: -9.41%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
559 W Highland Blvd	0.50mi	3/1.0 (+1)	1,409 (+1%)	1mo	$165,000	$117	69
250 Oelkers	0.34mi	3/2.0 (+1)	1,416 (+1%)	8mo	$224,900	$159	67
118 Tipton	0.19mi	3/2.0 (+1)	1,256 (-10%)	2mo	$249,500	$199	64
335 Helena St	0.54mi	3/2.0 (+1)	1,404 (+0%)	7mo	$400,000	$285	59
907 Steves Ave	0.74mi	3/1.0 (+1)	1,400 (0%)	2mo	$165,000	$118	59
206 E Lambert	0.60mi	3/2.0 (+1)	1,344 (-4%)	4mo	$264,000	$196	53
274 Weaver St	0.60mi	3/2.0 (+1)	1,326 (-5%)	7mo	$169,900	$128	48
214 Loretta Pl	0.67mi	2/2.0	1,514 (+8%)	8mo	$435,000	$287	45
231 Wilkens	0.72mi	3/2.0 (+1)	1,460 (+4%)	9mo	$175,000	$120	43
212 W Baylor	0.70mi	3/2.0 (+1)	1,507 (+8%)	6mo	$298,900	$198	40
341 Lone Star	0.68mi	3/2.0 (+1)	1,276 (-9%)	8mo	$305,000	$239	38
238 Lone Star	0.72mi	3/1.0 (+1)	1,240 (-11%)	9mo	$140,000	$113	35

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.55×
• Total profit: $110,859
• Equity at exit: $229,724

10-year hold

• IRR: 17.2%
• Equity multiple: 5.70×
• Total profit: $335,858
• Equity at exit: $495,409

Cash invested: $71,400 (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 78204

• Home prices YoY: 6.4%
• Rents YoY: -1.4%
• Active inventory: 94
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$234 /mo · $2,805/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-363

Break-even live

Break-even rent $2,123

Max offer price $190,879

Occupancy floor —

Sensitivity live

Price	-10% $-219	-5% $-291	+0% $-363	+5% $-435	+10% $-507
Rent	-10% $-494	-5% $-429	+0% $-363	+5% $-297	+10% $-232
Rate	-1.0pp $-235	-0.5pp $-298	base $-363	+0.5pp $-429	+1.0pp $-496

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 W Mitchell St San Antonio, TX	1.0–2.0	1.0–2.0	788	$1,257	$1.59	4d	1	0.10mi
222 E Mitchell St San Antonio, TX	2.0	1.0–2.0	972	$1,825	$1.88	3d	16	0.35mi
271 E Lambert St San Antonio, TX	3.0	1.0	950	$1,250	$1.32	20d	1	0.49mi
413 Probandt San Antonio, TX	2.0	1.0	996	$1,400	$1.41	20d	1	0.65mi
131 Elsie Unit 301 San Antonio, TX	2.0	1.0	950	$795	$0.84	5d	1	0.65mi
120 Bank St San Antonio, TX	3.0	2.0	1035	$1,450	$1.40	20d	1	0.66mi
120 Bank St San Antonio, TX	3.0	2.0	1035	$1,495	$1.44	44d	1	0.66mi
423 Blue Star Unit 710 San Antonio, TX	2.0	2.0	1209	$1,929	$1.60	3d	1	0.74mi
110 Dowdy St San Antonio, TX	3.0	1.0	1120	$1,395	$1.25	24d	1	0.75mi
147 Saint Francis Ave San Antonio, TX	3.0	2.0	1224	$1,800	$1.47	5d	1	0.76mi
114 Teresa San Antonio, TX	3.0	1.0	984	$1,450	$1.47	24d	1	0.82mi
2007 S Presa St San Antonio, TX	2.0	1.0	1276	$1,800	$1.41	15d	1	0.88mi
330 Clay St #24 San Antonio, TX	2.0	2.0	1424	$2,395	$1.68	13d	1	0.89mi
330 Clay St #28 San Antonio, TX	3.0	2.5	1670	$2,400	$1.44	44d	1	0.89mi
220 Hansford St San Antonio, TX	3.0	2.0	1269	$1,600	$1.26	4d	1	0.89mi
1722 S Saint Marys St San Antonio, TX	1.0	1.0	880	$1,350	$1.53	15d	1	0.90mi
438 Pruitt Ave #1 San Antonio, TX	2.0	1.0	980	$1,245	$1.27	44d	1	0.90mi
517 Hicks Ave San Antonio, TX	3.0	2.0	1520	$1,700	$1.12	44d	1	0.91mi
262 E Cevallos San Antonio, TX	2.0	2.5	1354	$2,055	$1.52	44d	1	0.95mi
302 E Cevallos St Unit 1 San Antonio, TX	2.0	1.0	1132	$1,550	$1.37	24d	1	0.96mi
301 E Cevallos San Antonio, TX	2.0	1.0–2.5	983	$1,819	$1.85	3d	14	0.97mi
222 Glass Ave San Antonio, TX	2.0	2.0	1007	$2,400	$2.38	44d	1	0.97mi
122 Biering St #2 San Antonio, TX	2.0	1.0	1472	$1,100	$0.75	44d	1	1.00mi
1519 S Presa St San Antonio, TX	3.0	3.5	1747	$3,200	$1.83	44d	1	1.00mi
127 Clay #2 San Antonio, TX	1.0	1.0	936	$1,250	$1.34	44d	1	1.03mi
134 Gladstone St San Antonio, TX	2.0	1.0	1407	$1,000	$0.71	11d	1	1.04mi
228 Lotus Ave Unit 101 San Antonio, TX	3.0	2.0	1500	$1,850	$1.23	13d	1	1.06mi
228 Lotus Ave Unit 101 San Antonio, TX	3.0	3.5	1500	$1,800	$1.20	5d	1	1.06mi
228 Lotus St Unit 201 San Antonio, TX	3.0	2.0	1700	$1,900	$1.12	13d	1	1.06mi
228 Lotus St Unit 201 San Antonio, TX	3.0	3.5	1500	$1,850	$1.23	3d	1	1.06mi
614 Barbe St San Antonio, TX	2.0	2.0	1200	$1,500	$1.25	24d	1	1.06mi
215 E Cevallos San Antonio, TX	3.0	1.0–3.0	1162	$2,348	$2.02	2d	20	1.07mi
1426 S Alamo St Unit D-142 San Antonio, TX	1.0	1.0	1253	$1,165	$0.93	44d	1	1.10mi
161 Kaine St San Antonio, TX	3.0	1.0	1000	$1,450	$1.45	18d	1	1.11mi
227 Claudia St Unit 1 San Antonio, TX	2.0	1.5	1809	$3,500	$1.93	15d	1	1.11mi
227 Claudia St Unit 1 San Antonio, TX	2.0	1.5	1809	$3,500	$1.93	13d	1	1.11mi
227 Claudia St Unit 3 San Antonio, TX	2.0	1.0	887	$2,495	$2.81	21d	1	1.11mi
203 Nogalitos St #5 San Antonio, TX	3.0	2.5	1872	$3,100	$1.66	24d	1	1.11mi
415 Furnish Ave San Antonio, TX	3.0	2.0	1670	$1,995	$1.19	18d	1	1.12mi
305 Keller St Unit NA San Antonio, TX	3.0	2.0	1200	$1,800	$1.50	15d	1	1.23mi

Listing history 20 events

1. 2026-06-18
   days on market $255,000 Active 115 DOM
2. 2026-06-17
   days on market $255,000 Active 114 DOM
3. 2026-06-16
   days on market $255,000 Active 113 DOM
4. 2026-06-15
   days on market $255,000 Active 112 DOM
5. 2026-06-13
   days on market $255,000 Active 110 DOM
6. 2026-06-09
   days on market $255,000 Active 106 DOM
7. 2026-06-08
   days on market $255,000 Active 105 DOM
8. 2026-06-07
   days on market $255,000 Active 104 DOM
9. 2026-06-04
   days on market $255,000 Active 101 DOM
10. 2026-06-03
    days on market $255,000 Active 100 DOM
11. 2026-06-02
    days on market $255,000 Active 99 DOM
12. 2026-06-01
    days on market $255,000 Active 98 DOM
13. 2026-05-31
    days on market $255,000 Active 97 DOM
14. 2026-05-15
    price $255,000 515-char remark

    Show marketing remark (515 chars)

    *All net/gross income and operating expenses are approximate** Location! Location! Location! This home is for sale with 121 W Mitchell MLS 1943357 right next door for sale as well! Can also be sold as a bundle. These homes are located right across the street from Confluence Park, feet away from the San Antonio River/ bike trails,The Historic San Antonio Missions, the LoneStar/BlueStar areas, South Town and the Pearl! Just the perfect place to keep as a rental or to live in. Come out and take a look !

15. 2026-05-03
    price $450,000 515-char remark

    Show marketing remark (515 chars)

    *All net/gross income and operating expenses are approximate** Location! Location! Location! This home is for sale with 121 W Mitchell MLS 1943357 right next door for sale as well! Can also be sold as a bundle. These homes are located right across the street from Confluence Park, feet away from the San Antonio River/ bike trails,The Historic San Antonio Missions, the LoneStar/BlueStar areas, South Town and the Pearl! Just the perfect place to keep as a rental or to live in. Come out and take a look !

16. 2026-02-23
    listed $480,000 New 515-char remark

    Show marketing remark (515 chars)

    *All net/gross income and operating expenses are approximate** Location! Location! Location! This home is for sale with 121 W Mitchell MLS 1943357 right next door for sale as well! Can also be sold as a bundle. These homes are located right across the street from Confluence Park, feet away from the San Antonio River/ bike trails,The Historic San Antonio Missions, the LoneStar/BlueStar areas, South Town and the Pearl! Just the perfect place to keep as a rental or to live in. Come out and take a look !

17. 2026-02-19
    historical
18. 2025-12-19
    listed $480,000 New
19. 2021-09-14
    soldstatus
20. 2015-07-30
    soldstatus

ⓘ 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: $2,805 · $234/mo
• Projected year-2 tax: $4,666 · $389/mo
• Expected delta: +$1,862/yr (+$155/mo · 66.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°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: $19,963
• − Mortgage interest: −$14,284
• − Property taxes: −$2,805
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$7,418
• Taxable loss: −$9,013
• Est. tax savings @ 24.0%: +$2,163
• After-tax cash flow: $-2,193/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): 11,983
• Household income: $60,255
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 545.0

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 (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 37% White 15% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 74%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 50% English-only · Spanish 49%

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: ▲ 14.91%
• Current HPI: 249.0597
• Rent YoY: ▼ -1.44%
• 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

-46.9% since first listed

7 events — show timeline

• 2026-05-15 Price Changed $255,000 LERA
• 2026-05-03 Price Changed $450,000 LERA
• 2026-02-23 Listed $480,000 LERA
• 2026-02-19 Listing Removed — LERA
• 2025-12-19 Listed $480,000 LERA
• 2021-09-14 Sold (Public Records) — Public Records
• 2015-07-30 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,805 · +10.0% YoY. Source: county tax records.