354 Las Palmas · San Antonio, TX 78237

$199,999

3 bd · 1.0 ba · 1,233 sqft · SingleFamily public records · 217 Days on market

Built 1955 6,316 sqft lot ↓ 11% 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.8/10.0
• Schools +1.3/10.0

Listing remarks

* * 1% LENDER CONCESSIONS USING OUR PREFERRED LENDER * * Welcome to 354 Las Palmas, a charming San Antonio home offering a fresh, inviting look on a spacious lot. This beautifully maintained property features no carpet throughout, providing a clean and modern feel from the moment you walk in. Enjoy the bright and open layout with updated finishes and plenty of natural light. The large lot offers space for outdoor entertaining, gardening, or future additions. Conveniently located near shopping, and major highways, this home combines comfort and convenience in one great package. Perfect for first-time buyers or anyone looking for a move-in-ready home with character and style. Whether you

Key facts

• Updated finishes
• Outdoor entertaining
• Move-in-ready

Tags

• SPACIOUS CORNER LOT
• BRIGHT AND OPEN LAYOUT
• UPDATED FINISHES
• NATURAL LIGHT
• OUTDOOR ENTERTAINING
• MOVE-IN-READY

Property features AI

Finance

• Financial info: Down payment resource available

Exterior

• Parking: Converted garage
• Utilities: Gas supplied by CPS Energy; Electricity supplied by CPS Energy; Water supplied by SAWS; City garbage service; Water system available
• Home design: Pre-owned property; Subdivision: WEST LAWN AREA 5
• Construction: Approximately 71 years old; Slab foundation; Composition roof
• Exterior features: Siding exterior

Interior

• Kitchen: Microwave; Stove/Range; Refrigerator; Kitchen about 12 x 12
• Bedrooms: Master bedroom approximately 10 x 11; Bedroom 2 approximately 10 x 11; Bedroom 3 approximately 10 x 11
• Flooring: Ceramic tile; Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Floor furnace heating (natural gas); Multiple window air conditioners (3+)
• Interior features: Washer and dryer connections; Microwave; Stove/Range; Refrigerator; One living area
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-229 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (26.4% below list).
• Recommended offer: $147k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: 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: Las Palmas Leadership School For Girls (229 students, 91% FRL, charter); John F Kennedy H S (math 17% / reading 18%, grade F, #1,451 of 1,632 statewide, top 89%, 1,042 students, 92% FRL) — zoned schools average 92% FRL vs 24% district-wide (67 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 127 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 41% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $147,207 (26.4% 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 217 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — 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: 0.74% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.90%
• DSCR: 0.78
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.13% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.77×
• Total profit: $99,162
• Equity at exit: $180,175

10-year hold

• IRR: 20.3%
• Equity multiple: 6.62×
• Total profit: $314,537
• Equity at exit: $388,554

Cash invested: $56,000 (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 78237

• Home prices YoY: 14.1%
• Rents YoY: 6.1%
• Active inventory: 127
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,472 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$260 /mo · $3,115/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-229

Break-even live

Break-even rent $1,762

Max offer price $159,581

Occupancy floor —

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2311 Potosi St San Antonio, TX	3.0	1.0	864	$1,600	$1.85	43d	1	1.05mi
1823 San Carlos St San Antonio, TX	3.0	2.0	1090	$1,099	$1.01	1d	1	1.08mi
1135 Ceralvo St San Antonio, TX	3.0	2.0	1164	$1,450	$1.25	21d	1	1.10mi
1135 Ceralvo St San Antonio, TX	3.0	2.0	1164	$1,450	$1.25	4d	1	1.10mi
2721 Colima St San Antonio, TX	2.0	1.0	700	$1,250	$1.79	14d	1	1.23mi
3918 W Martin St San Antonio, TX	3.0	1.0	1200	$1,300	$1.08	23d	1	1.37mi
843 Brady Blvd San Antonio, TX	3.0	2.0	864	$1,650	$1.91	23d	1	1.45mi

Listing history 15 events

1. 2026-06-18
   days on market $199,999 Active 217 DOM
2. 2026-06-17
   days on market $199,999 Active 216 DOM
3. 2026-06-16
   days on market $199,999 Active 215 DOM
4. 2026-06-15
   days on market $199,999 Active 214 DOM
5. 2026-06-13
   days on market $199,999 Active 212 DOM
6. 2026-06-12
   days on market $199,999 Active 211 DOM
7. 2026-06-09
   days on market $199,999 Active 208 DOM
8. 2026-06-08
   days on market $199,999 Active 207 DOM
9. 2026-06-08
   days on market $199,999 Active 206 DOM
10. 2026-06-07
    days on market $199,999 Active 205 DOM
11. 2026-06-03
    days on market $199,999 Active 202 DOM
12. 2026-06-02
    days on market $199,999 Active 201 DOM
13. 2026-06-01
    days on market $199,999 Active 200 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    listed $199,999 Active 199 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: $3,115 · $260/mo
• Projected year-2 tax: $3,660 · $305/mo
• Expected delta: +$545/yr (+$45/mo · 17.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 7/10 Severe 78% 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: $17,665
• − Mortgage interest: −$11,203
• − Property taxes: −$3,115
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − Depreciation: −$5,818
• Taxable loss: −$6,298
• Est. tax savings @ 24.0%: +$1,511
• After-tax cash flow: $-1,234/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): 37,379
• Household income: $42,772
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1185.0

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 (95%)
• Race & ethnicity: Hispanic / Latino 95% Two or more races 50% White 3% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 84%
• Foreign-born: 18% · Canada
• Languages at home: 34% English-only · Spanish 66%

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: ▲ 30.52%
• Current HPI: 247.7257
• Rent YoY: ▲ 6.13%
• 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

-11.1% since first listed

7 events — show timeline

• 2026-04-08 Price Changed $199,999 LERA
• 2026-03-03 Price Changed $205,000 LERA
• 2026-02-17 Relisted — LERA
• 2026-01-14 Contingent — LERA
• 2025-11-30 Price Changed $210,000 LERA
• 2025-11-13 Listed $225,000 LERA
• 2009-12-07 Sold (Public Records) — Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,115 · -5.4% YoY. Source: county tax records.