2611 Cloudy Mdw

San Antonio, TX 78222

$178,500D-

3 bd · 2.0 ba · 1,353 sqft · Built 2004 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,693/mo
• Mortgage (P&I): −$936
• Tax + insurance: −$449
• HOA: −$10
• Vac / Maint / Mgmt: −$356
• Net cashflow: $-58/mo
• Annual: $-693/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• 1% rule: 0.95%
• Cash to close: $49,980

Investor read

• This is a 3-bed/2.0-bath single-family listed at $178k.
• At list price, monthly cash flow is $-58 ($-693/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (5.1% below list).
• It's been on market 34 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (5.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sinclair El (math 13% / reading 20%, grade F, #3,946 of 4,322 statewide, top 92%, 721 students, 71% FRL); East Central H S (math 21% / reading 28%, grade F, #1,264 of 1,632 statewide, top 82%, 3,252 students, 52% FRL) — zoned schools at 61% FRL track the district average.
• Watch-outs: property tax is 2.5% of price.
• Market conditions: Rents rising fast (+4.3%/yr); 428 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 12y 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.
• 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.
• Cap rate 5.9% 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.
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.