1150 NW 38th St · San Antonio, TX 78228

$120,000

2 bd · 1.0 ba · 1,846 sqft · SingleFamily public records · 23 Days on market

Built 1954 10,062 sqft lot Est $220k · 45% under

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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 +20.3/30.0
• ARV discount +15.0/15.0
• 1% rule +7.6/10.0
• DSCR +6.4/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special Spacious layout on a prime corner lot with a large yard ready to be transformed into something special. Bring your vision and a little TLC to unlock the full potential of this diamond in the rough!

Key facts

• Large yard
• Corner lot
• 0.23 acre lot

Tags

• CORNER LOT
• LARGE YARD

Property features AI

Finance

• Financial info: Down payment resources available
• HOA & community: Subdivision: LOMA AREA / LOMA AREA 1A ED

Exterior

• Parking: Detached parking with side entry
• Utilities: Water service (SAWS); Sewer service (SAWS); Electric service (CPS); Gas service (CPS); Garbage service (TIGER)
• Home design: Pre-owned single-family residence; Approximately 72 years old
• Construction: Brick exterior; Slab foundation; Other roof type (see remarks)
• Exterior features: Corner lot

Interior

• Kitchen: Eat-in kitchen (approx. 21 x 17)
• Bedrooms: Primary bedroom on lower level; Bedroom 2 approximately 11 x 11; Bedroom 3 approximately 11 x 10; Primary bedroom approximately 11 x 13
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Washer and dryer connections; Smoke alarm; Eat-in kitchen; One living area; Some window coverings remain; Bonus room (2nd level)
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: crime F.
• Edgewood ISD (urban): math 12% / reading 21% proficiency, ranked #812 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Loma Park El (math 11% / reading 22%, grade F, #3,946 of 4,322 statewide, top 92%, 586 students, 98% FRL); Memorial H S (math 22% / reading 29%, grade F, #1,246 of 1,632 statewide, top 77%, 872 students, 92% FRL) — zoned schools average 95% FRL vs 24% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 89 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $219,674
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 Riverdale Dr	0.57mi	3/1.0 (+1)	1,716 (-7%)	13mo	$205,000	$119	46

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.80×
• Total profit: $-6,575
• Equity at exit: $17,892

10-year hold

• IRR: 7.2%
• Equity multiple: 1.60×
• Total profit: $20,179
• Equity at exit: $10,375

Cash invested: $33,600 (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 78228

• Home prices YoY: -22.1%
• Rents YoY: 4.9%
• Active inventory: 89
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,517 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$366 /mo · $4,396/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $153

Break-even live

Break-even rent $1,324

Max offer price $120,000

Occupancy floor 85%

Sensitivity live

Price	-10% $221	-5% $187	+0% $153	+5% $119	+10% $85
Rent	-10% $33	-5% $93	+0% $153	+5% $213	+10% $273
Rate	-1.0pp $213	-0.5pp $183	base $153	+0.5pp $122	+1.0pp $90

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4767 Lark San Antonio, TX	3.0	1.0	1248	$1,475	$1.18	11d	1	0.51mi
351 Overhill Dr Unit MH San Antonio, TX	3.0	1.0	1647	$1,550	$0.94	24d	1	0.91mi
707 Tulane Dr San Antonio, TX	2.0	1.5	1500	$1,550	$1.03	44d	1	1.15mi
2313 Texas Ave San Antonio, TX	3.0	1.0	1309	$1,400	$1.07	45d	1	1.33mi
135 W Quill Dr Unit 8 San Antonio, TX	1.0	1.0	2435	$850	$0.35	17d	1	1.34mi
135 W Quill Dr Unit 2 San Antonio, TX	1.0	1.0	2435	$850	$0.35	5d	1	1.34mi

Listing history 2 events

1. 2026-05-31
   remarks 214-char remark
2. 2026-05-31
   listed $120,000 Pending 23 DOM

ⓘ 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: $4,396 · $366/mo
• Projected year-2 tax: $4,396 · $366/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 7 d/yr ≥108°F today · 21 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,203
• − Mortgage interest: −$6,722
• − Property taxes: −$4,396
• − Insurance: −$600
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$3,491
• Taxable income: $82
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $1,813/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: Edgewood ISD
• NCES district ID: 4818150
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 21% ▼ -5.00%
• Median HH income: $27,419
• Composite: 12.82/100
• National rank: #9597
• State rank: #812 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): 56,165
• Household income: $52,976
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 2709.0

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 43% White 8% Black 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 46% English-only · Spanish 53% Other Indo-European 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: ▼ -74.04%
• Current HPI: 261.1558
• Rent YoY: ▲ 4.92%
• 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

2 events — show timeline

• 2026-05-06 Pending — LERA
• 2026-04-13 Listed $120,000 LERA

Property tax history

+4.1%/yr

Latest (2025): $4,396 · -8.1% YoY. Source: county tax records.