3214 Gilbert Gdn · San Antonio, TX 78109

$207,999

3 bd · 2.0 ba · 1,474 sqft · SingleFamily · 71 Days on market

Built 2026 Excellent condition 4,791 sqft lot $141/sqft · 7% below area Est $223k · 7% under $37/mo HOA · 2% of rent ↓ 1% since listing

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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).

• Cash flow +11.2/30.0
• ARV discount +10.6/15.0
• Condition / age +5.0/5.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• DSCR +3.3/10.0
• Rent growth +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $208k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-79 ($-947/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (15.1% below list).
• Recommended offer: $177k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• 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.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 71 days — a 6% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $28k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $176,650 (15.1% 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 71 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.85% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.63%
• DSCR: 0.93
• GRM: 9.8

CMA / ARV

• ARV (median comp): $223,422
• List price: $207,999
• Delta: -6.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11010 Tea Cv	0.27mi	3/2.0	1,474 (0%)	2mo	$217,999	$148	86
3654 Georgia Trce	0.31mi	3/2.0	1,474 (0%)	1mo	$215,999	$147	84
10839 Monterey	0.23mi	3/2.5	1,428 (-3%)	1mo	$215,000	$151	82
3210 Gilbert Gdn	0.01mi	3/2.0	1,260 (-14%)	1mo	$206,999	$164	75
10415 Mcclintock	0.66mi	3/2.0	1,450 (-2%)	1mo	$184,900	$128	66
10759 Francisco Way	0.30mi	3/2.0	1,690 (+15%)	1mo	$275,000	$163	61
3634 Georgia Trce	0.27mi	4/2.0 (+1)	1,667 (+13%)	1mo	$223,999	$134	59
11011 Airmen Dr	0.48mi	4/2.0 (+1)	1,585 (+8%)	1mo	$279,990	$177	59
3662 Georgia Trce	0.33mi	3/2.0	1,260 (-14%)	2mo	$203,999	$162	59
11130 Hollinger Cir	0.43mi	3/2.5	1,689 (+15%)	1mo	$298,385	$177	53
10423 Francisco Way	0.67mi	3/2.0	1,636 (+11%)	0mo	$225,000	$138	50
10411 Francisco	0.70mi	3/2.0	1,636 (+11%)	1mo	$249,900	$153	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.25×
• Total profit: $-43,857
• Equity at exit: $31,013

10-year hold

• IRR: -27.1%
• Equity multiple: -0.11×
• Total profit: $-64,467
• Equity at exit: $17,984

Cash invested: $58,240 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1152
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,766 high
• Mortgage (P&I): −$1,091
• Tax est. 1.5%: −$260 /mo · $3,120/yr
• Insurance: −$87
• HOA: −$37
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-79

Break-even live

Break-even rent $1,866

Max offer price $196,582

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $-7	+0% $-79	+5% $-151	+10% $-223
Rent	-10% $-218	-5% $-149	+0% $-79	+5% $-9	+10% $61
Rate	-1.0pp $26	-0.5pp $-26	base $-79	+0.5pp $-133	+1.0pp $-188

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: $52,000
• Closing costs: $6,240
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4150 Admirals Bnd Converse, TX	4.0	2.0	1602	$1,750	$1.09	5d	1	0.15mi
3130 Jackson Smt Converse, TX	3.0	2.5	1428	$1,885	$1.32	5d	1	0.18mi
10723 Vinateros Dr Converse, TX	4.0	2.0	1667	$1,776	$1.07	44d	1	0.18mi
10690 Pablo Way Converse, TX	3.0	2.0	1207	$1,650	$1.37	44d	1	0.20mi
3055 Jackson Smt Converse, TX	3.0	2.0	1525	$1,595	$1.05	44d	1	0.27mi
4250 Admirals Bnd Converse, TX	4.0	2.0	1602	$1,699	$1.06	24d	1	0.27mi
10627 Erinita Way Converse, TX	3.0	2.0	1474	$1,466	$0.99	24d	1	0.30mi
10922 Chatham Ct Converse, TX	3.0	2.0	1525	$1,645	$1.08	24d	1	0.32mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	44d	1	0.35mi
10606 Pablo Way Converse, TX	4.0	2.0	1667	$1,736	$1.04	5d	1	0.36mi
10818 Fox Trot Converse, TX	3.0	2.0	1465	$1,850	$1.26	5d	1	0.37mi
10827 Fox Trot Converse, TX	3.0	2.0	1650	$1,645	$1.00	20d	1	0.38mi
10906 Airmen Dr Converse, TX	3.0	2.0	1535	$1,550	$1.01	3d	1	0.39mi
3106 Drayton Ests Converse, TX	2.0–5.0	2.0–3.5	1733	$2,102	$1.21	2d	1	0.44mi
2939 Gastonian Ml Converse, TX	3.0	2.0	1525	$1,495	$0.98	44d	1	0.44mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1709	$1,950	$1.14	22d	1	0.46mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1689	$1,950	$1.15	2d	1	0.46mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1450	$1,410	$0.97	24d	1	0.47mi
10803 Prusiner Dr Converse, TX	3.0	2.0	1440	$1,476	$1.02	22d	1	0.47mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	24d	1	0.48mi
11151 Hollinger Cir Converse, TX	4.0	2.5	1859	$1,705	$0.92	24d	1	0.48mi
10755 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,536	$1.21	22d	1	0.51mi
3318 Carducci Dr Converse, TX	3.0	2.0	1276	$1,800	$1.41	44d	1	0.52mi
10754 Prusiner Dr Converse, TX	3.0	2.0	1266	$1,450	$1.15	24d	1	0.53mi
10707 Giacconi Dr Converse, TX	3.0	2.0	1266	$1,686	$1.33	44d	1	0.60mi
4351 W Vasquez Cir Converse, TX	3.0	2.0	1652	$1,850	$1.12	20d	1	0.60mi
2822 Praline Fry Converse, TX	3.0	2.0	1525	$1,645	$1.08	3d	1	0.61mi
10714 Giacconi Dr Converse, TX	4.0	2.0	1627	$1,550	$0.95	15d	1	0.62mi
11026 Yonder Flts Converse, TX	3.0	2.0	1525	$1,645	$1.08	4d	1	0.64mi
11030 Yonder Flts Converse, TX	3.0	2.5	1428	$1,500	$1.05	5d	1	0.65mi
2815 Armaan WAY Converse, TX	3.0	2.5	1401	$1,495	$1.07	2d	1	0.66mi
2906 Millikan Dr Converse, TX	4.0	2.0	1627	$1,525	$0.94	13d	1	0.72mi
4398 W Vasquez Cir Unit 710 Converse, TX	2.0	2.0	1060	$1,388	$1.31	4d	1	0.72mi
2822 Millikan Dr Converse, TX	3.0	2.0	1440	$1,650	$1.15	24d	1	0.75mi
2822 Millikan Dr Converse, TX	3.0	2.0	1450	$1,500	$1.03	13d	1	0.75mi
2802 Stigler Dr Converse, TX	4.0	2.0	1627	$1,495	$0.92	5d	1	0.78mi
2819 Gustavo Dr Converse, TX	3.0	2.0	1450	$1,500	$1.03	44d	1	0.78mi
2811 Gustavo Dr Converse, TX	3.0	2.0	1450	$1,750	$1.21	44d	1	0.80mi
2815 Charpak Dr Converse, TX	4.0	2.0	1627	$1,695	$1.04	4d	1	0.82mi
3035 Selhurst St Converse, TX	3.0	2.0	1557	$1,800	$1.16	24d	1	1.09mi

HOA detail

• Monthly dues: $37 · $444/yr

Listing history 16 events

1. 2026-06-07
   status $207,999 Pending 71 DOM
2. 2026-06-04
   days on market $207,999 Price Change 71 DOM
3. 2026-06-03
   days on market $207,999 Price Change 70 DOM
4. 2026-06-02
   days on market $207,999 Price Change 69 DOM
5. 2026-06-01
   days on market $207,999 Price Change 68 DOM
6. 2026-05-31
   days on market $207,999 Price Change 67 DOM
7. 2026-05-05
   price $232,999 527-char remark

   Show marketing remark (527 chars)

   The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

8. 2026-05-03
   price $232,999 399-char remark

   Show marketing remark (399 chars)

   This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

9. 2026-05-02
   price $212,999 399-char remark

   Show marketing remark (399 chars)

   This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

10. 2026-05-01
    price $211,999 399-char remark

    Show marketing remark (399 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

11. 2026-04-30
    price $211,999 527-char remark

    Show marketing remark (527 chars)

    The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

12. 2026-04-28
    price $213,999 527-char remark

    Show marketing remark (527 chars)

    The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

13. 2026-04-27
    price $213,999 399-char remark

    Show marketing remark (399 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

14. 2026-04-25
    price $217,999 399-char remark

    Show marketing remark (399 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

15. 2026-04-24
    listed $235,999 Active 399-char remark

    Show marketing remark (399 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

16. 2026-03-25
    listed $235,999 New 527-char remark

    Show marketing remark (527 chars)

    The Newlin - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,198
• − Mortgage interest: −$11,651
• − Property taxes: −$3,120
• − Insurance: −$1,040
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − HOA: −$444
• − Depreciation: −$6,051
• Taxable loss: −$4,500
• Est. tax savings @ 24.0%: +$1,080
• After-tax cash flow: $133/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 · 12 photos

Excellent 100/100 None rehab

This single-level home showcases a spacious open floorplan with modern finishes and a well-maintained exterior. It is move-in ready and ready for minor updates to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Both Add smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Both Add smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient. ↑

ⓘ 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: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 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): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 1732.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -51.02%
• Current HPI: 236.4923
• Rent YoY: ▼ -1.08%
• 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

-1.3% since first listed

10 events — show timeline

• 2026-05-05 Price Changed $232,999 LERA
• 2026-05-03 Price Changed $232,999 Zillow
• 2026-05-02 Price Changed $212,999 Zillow
• 2026-05-01 Price Changed $211,999 Zillow
• 2026-04-30 Price Changed $211,999 LERA
• 2026-04-28 Price Changed $213,999 LERA
• 2026-04-27 Price Changed $213,999 Zillow
• 2026-04-25 Price Changed $217,999 Zillow
• 2026-04-24 Listed $235,999 Zillow
• 2026-03-25 Listed $235,999 LERA