2402 W Martin St · San Antonio, TX 78207

$85,000

3 bd · 1.0 ba · 1,470 sqft · SingleFamily public records · 134 Days on market

Built 1930 2,570 sqft lot $58/sqft · 54% below area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Corner lot in West side San Antonio. 3 Bedroom, 2 Bath, remolding nearly complete. 24'' Cabinets in kitchen and vinyl flooring throughout. Property to be sold as-is. Close proximity to Downtown, UTSA campus and major highways.

Key facts

• Corner lot
• 2,570 sq ft lot
• Built 1930

Tags

• CORNER LOT
• CLOSE PROXIMITY TO DOWNTOWN
• CLOSE PROXIMITY TO UTSA CAMPUS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% 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 (+7.7%/yr); 154 active listings in the ZIP; 40 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 $1,550/mo this rent would consume 57% of the median local household income ($32k/yr) (locally 2789% 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 $9k of equity ($588 loan paydown + $8k 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 + 7.7% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y ago; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: 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 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.82% ✓
• Cap rate: 15.29%
• Cash-on-cash: 32.12%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

• ARV (median comp): $185,707
• List price: $85,000
• Delta: -54.23%
• 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
2115 W Houston	0.19mi	3/2.0	1,424 (-3%)	1mo	$229,900	$161	81
2406 W Martin St	0.01mi	3/1.0	1,326 (-10%)	14mo	$114,900	$87	71
3023 W Travis	0.63mi	3/2.0	1,476 (+0%)	3mo	$199,900	$135	64
2214 W Cesar E Chavez	0.60mi	3/1.0	1,512 (+3%)	7mo	$89,900	$59	62
509 S Navidad	0.63mi	3/2.0	1,512 (+3%)	3mo	$140,000	$93	60
2219 Saunders Ave	0.54mi	3/1.0	1,560 (+6%)	11mo	$175,000	$112	56
1614 W Martin	0.52mi	3/1.0	1,276 (-13%)	1mo	$129,900	$102	53
2606 W Travis St	0.33mi	3/1.0	1,266 (-14%)	11mo	$134,900	$107	52
1416 N Trinity St	0.73mi	3/2.0	1,568 (+7%)	1mo	$155,900	$99	50
1111 Perez St	0.25mi	4/2.0 (+1)	1,312 (-11%)	14mo	$175,000	$133	50
609 Ruiz St	0.56mi	3/1.5	1,628 (+11%)	9mo	$70,000	$43	47
2706 W W Cesar E Chavez Blvd	0.58mi	4/2.0 (+1)	1,504 (+2%)	17mo	$150,000	$100	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 · 7.73% rent growth · sell at horizon

5-year hold

• IRR: 51.8%
• Equity multiple: 4.98×
• Total profit: $94,612
• Equity at exit: $76,575

10-year hold

• IRR: 47.4%
• Equity multiple: 12.16×
• Total profit: $265,706
• Equity at exit: $165,136

Cash invested: $23,800 (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 78207

• Home prices YoY: 15.2%
• Rents YoY: 7.7%
• Active inventory: 154
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,550 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $637

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 54%

Sensitivity live

Price	-10% $696	-5% $666	+0% $637	+5% $608	+10% $578
Rent	-10% $515	-5% $576	+0% $637	+5% $698	+10% $759
Rate	-1.0pp $680	-0.5pp $659	base $637	+0.5pp $615	+1.0pp $593

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
614 N Sabinas St San Antonio, TX	3.0	2.0	930	$1,249	$1.34	5d	1	0.11mi
2246 W Houston St San Antonio, TX	4.0	3.0	1654	$2,100	$1.27	11d	1	0.20mi
1820 W Houston St San Antonio, TX	3.0	2.0	1132	$2,300	$2.03	44d	1	0.32mi
2120 Monterey St Unit 102 San Antonio, TX	2.0	2.0	1220	$1,450	$1.19	12d	1	0.43mi
2120 Monterey St Unit 102 San Antonio, TX	2.0	2.0	1220	$1,490	$1.22	44d	1	0.43mi
215 S Brazos St San Antonio, TX	3.0	1.0	900	$1,350	$1.50	5d	1	0.51mi
2425 Monterey St San Antonio, TX	3.0	2.0	1416	$2,000	$1.41	44d	1	0.53mi
3038 W Salinas Unit 101 San Antonio, TX	3.0	2.5	1149	$1,550	$1.35	5d	1	0.54mi
717 N Colorado St San Antonio, TX	3.0	1.0	1100	$1,199	$1.09	44d	1	0.55mi
509 S Trinity St San Antonio, TX	3.0	1.0	921	$1,300	$1.41	5d	1	0.57mi
811 Rivas St San Antonio, TX	3.0	2.0	1276	$1,580	$1.24	24d	1	0.57mi
542 Rivas St Unit B San Antonio, TX	3.0	2.0	876	$999	$1.14	5d	1	0.60mi
234 Gould St Unit 102 San Antonio, TX	2.0	1.5	948	$1,195	$1.26	5d	1	0.62mi
1545 Ruiz St San Antonio, TX	2.0	2.0	1020	$935	$0.92	44d	1	0.68mi
2811 Buena Vista St San Antonio, TX	4.0	2.0	1750	$2,350	$1.34	24d	1	0.69mi
709 S Chupaderas St San Antonio, TX	3.0	2.0	1518	$1,345	$0.89	24d	1	0.76mi
214 Aztec St San Antonio, TX	3.0	2.0	973	$1,275	$1.31	15d	1	0.81mi
711 N Frio St Unit 1302 San Antonio, TX	2.0	2.0	980	$1,400	$1.43	18d	1	0.81mi
230 Micklejohn St San Antonio, TX	3.0	2.0	1368	$1,595	$1.17	24d	1	0.82mi
230 Micklejohn St San Antonio, TX	3.0	2.0	1368	$1,695	$1.24	44d	1	0.83mi
206 Roberts St Unit 201 San Antonio, TX	3.0	2.0	1100	$1,350	$1.23	24d	1	0.84mi
1209 El Paso St San Antonio, TX	2.0	1.0	966	$975	$1.01	24d	1	0.86mi
1230 Rivas St San Antonio, TX	3.0	2.5	1287	$1,999	$1.55	24d	1	0.88mi
1231 Rivas St Unit 102 San Antonio, TX	3.0	2.0	1120	$1,299	$1.16	44d	1	0.89mi
1102 El Paso St San Antonio, TX	1.0–3.0	1.0–2.0	888	$1,437	$1.62	4d	1	0.92mi
1615 N Navidad St Unit 101 San Antonio, TX	3.0	2.0	1804	$999	$0.55	5d	1	0.92mi
1020 W Poplar St San Antonio, TX	2.0	1.0	902	$1,300	$1.44	24d	1	1.03mi
210 Cadwallader St San Antonio, TX	4.0	2.5	1396	$1,975	$1.41	44d	1	1.06mi
232 Cornell Ave #2 San Antonio, TX	2.0	1.0	924	$1,050	$1.14	17d	1	1.07mi
1339 N Flores St Unit 107 San Antonio, TX	2.0	2.0	1580	$2,375	$1.50	44d	1	1.08mi
610 Croft Trace Ln San Antonio, TX	2.0	1.0	1092	$1,500	$1.37	44d	1	1.11mi
3918 W Martin St San Antonio, TX	3.0	1.0	1200	$1,300	$1.08	24d	1	1.13mi
135 Harvard Ter San Antonio, TX	3.0	2.0	1509	$1,875	$1.24	5d	1	1.16mi
219 Princeton Ave San Antonio, TX	3.0	2.0	1230	$2,200	$1.79	24d	1	1.17mi
711 S Frio St San Antonio, TX	2.0	1.0–2.0	885	$1,183	$1.34	18d	2	1.18mi
711 S Frio St San Antonio, TX	2.0	1.0–2.0	885	$1,183	$1.34	3d	2	1.18mi
711 S Frio St Unit 2101 San Antonio, TX	2.0	2.0	980	$1,400	$1.43	3d	1	1.18mi
614 Chihuahua St San Antonio, TX	3.0	2.0	1082	$1,400	$1.29	44d	1	1.18mi
520 Cincinnati Ave San Antonio, TX	3.0	2.0	1216	$2,000	$1.64	44d	1	1.22mi
1906 Montezuma St San Antonio, TX	2.0	1.5	1790	$1,300	$0.73	44d	1	1.25mi

Listing history 37 events

1. 2026-06-13
   statusdays on market $85,000 Pending 134 DOM
2. 2026-06-09
   days on market $85,000 Active Option 132 DOM
3. 2026-06-08
   statusdays on market $85,000 Active Option 131 DOM
4. 2026-06-07
   days on market $85,000 Active 130 DOM
5. 2026-06-04
   days on market $85,000 Active 127 DOM
6. 2026-06-03
   days on market $85,000 Active 126 DOM
7. 2026-06-02
   days on market $85,000 Active 125 DOM
8. 2026-06-01
   days on market $85,000 Active 124 DOM
9. 2026-05-31
   days on market $85,000 Active 123 DOM
10. 2026-05-04
    price $85,000 226-char remark

    Show marketing remark (226 chars)

    Corner lot in West side San Antonio. 3 Bedroom, 2 Bath, remolding nearly complete. 24'' Cabinets in kitchen and vinyl flooring throughout. Property to be sold as-is. Close proximity to Downtown, UTSA campus and major highways.

11. 2026-03-10
    price $95,000 226-char remark

    Show marketing remark (226 chars)

    Corner lot in West side San Antonio. 3 Bedroom, 2 Bath, remolding nearly complete. 24'' Cabinets in kitchen and vinyl flooring throughout. Property to be sold as-is. Close proximity to Downtown, UTSA campus and major highways.

12. 2026-01-28
    listed $99,000 New 226-char remark

    Show marketing remark (226 chars)

    Corner lot in West side San Antonio. 3 Bedroom, 2 Bath, remolding nearly complete. 24'' Cabinets in kitchen and vinyl flooring throughout. Property to be sold as-is. Close proximity to Downtown, UTSA campus and major highways.

13. 2026-01-21
    historical
14. 2026-01-09
    price $114,900
15. 2025-12-24
    status Back on Market
16. 2025-12-24
    historical Active Option
17. 2025-12-06
    price $119,000
18. 2025-10-23
    price $129,000
19. 2025-10-01
    price $139,000
20. 2025-08-25
    price $149,000
21. 2025-08-02
    listed $159,000 New
22. 2025-08-02
    historical
23. 2025-06-11
    listed $159,000 New
24. 2025-02-27
    historical
25. 2025-02-05
    status Back on Market
26. 2025-01-30
    historical Active Option
27. 2025-01-30
    status Back on Market
28. 2024-09-27
    historical Active Option
29. 2024-08-22
    price $169,900
30. 2024-08-05
    listed $179,900 New
31. 2024-07-17
    historical
32. 2024-06-22
    price $184,900
33. 2024-05-17
    price $189,900
34. 2024-05-11
    listed $199,900 New
35. 2021-12-02
    soldstatus
36. 2009-09-04
    historical
37. 2008-09-09
    listed $73,500

ⓘ 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 6 d/yr ≥109°F today · 19 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: $18,598
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$2,473
• Taxable income: $6,688
• Est. tax owed @ 24.0%: −$1,605
• After-tax cash flow: $6,038/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): 55,474
• Household income: $32,472
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2789.0

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 (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 41% White 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 79%
• Foreign-born: 19% · Canada
• Languages at home: 39% English-only · Spanish 60%

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: ▲ 34.92%
• Current HPI: 264.7559
• Rent YoY: ▲ 7.73%
• 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

+15.6% since first listed

28 events — show timeline

• 2026-05-04 Price Changed $85,000 LERA
• 2026-03-10 Price Changed $95,000 LERA
• 2026-01-28 Listed $99,000 LERA
• 2026-01-21 Listing Removed — LERA
• 2026-01-09 Price Changed $114,900 LERA
• 2025-12-24 Relisted — LERA
• 2025-12-24 Contingent — LERA
• 2025-12-06 Price Changed $119,000 LERA
• 2025-10-23 Price Changed $129,000 LERA
• 2025-10-01 Price Changed $139,000 LERA
• 2025-08-25 Price Changed $149,000 LERA
• 2025-08-02 Listing Removed — LERA
• 2025-08-02 Listed $159,000 LERA
• 2025-06-11 Listed $159,000 LERA
• 2025-02-27 Listing Removed — LERA
• 2025-02-05 Relisted — LERA
• 2025-01-30 Contingent — LERA
• 2025-01-30 Relisted — LERA
• 2024-09-27 Contingent — LERA
• 2024-08-22 Price Changed $169,900 LERA
• 2024-08-05 Listed $179,900 LERA
• 2024-07-17 Listing Removed — LERA
• 2024-06-22 Price Changed $184,900 LERA
• 2024-05-17 Price Changed $189,900 LERA
• 2024-05-11 Listed $199,900 LERA
• 2021-12-02 Sold (Public Records) — Public Records
• 2009-09-04 Listing Removed — LERA
• 2008-09-09 Listed $73,500 LERA

Property tax history

+11.0%/yr

Latest (2025): $4,329 · +155.7% YoY. Source: county tax records.