2111 W Houston · San Antonio, TX 78207

$235,000

4 bd · 2.0 ba · 1,869 sqft · SingleFamily · 21 Days on market

Built 2023 Good condition Est $178k · 32% over ↓ 2% 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 +11.4/30.0
• Appreciation +10.0/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to 2111 Houston, built in 2023, just minutes from downtown San Antonio! This property features an open layout with a modern kitchen complete with stainless steel appliances, granite countertops, and updated cabinetry. Newer construction provides a peace of mind, and there's no HOA for added flexibility. Spacious bedrooms and a manageable backyard make it ideal for families. Conveniently located near Our Lady of the Lake University, Woodlawn Lake Park, and Market Square, with easy access to I-10 and Hwy 90 for quick commutes, shopping, and dining.

Key facts

• Newer construction
• Modern kitchen
• Granite countertops

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• UPDATED CABINETRY
• NEWER CONSTRUCTION
• NO HOA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-81 ($-968/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (16.9% below list).
• Recommended offer: $195k (16.9% below list) — sets the bar for 1% rule.
• 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.

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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,954/mo this rent would consume 72% 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 $25k of equity ($2k loan paydown + $24k 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 $66k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% 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 $195,366 (16.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.83% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $177,555
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2111 W Houston	0.00mi	4/2.0	1,869 (0%)	1mo	$235,000	$126	99
1421 Monterey	0.33mi	3/2.0 (-1)	1,875 (+0%)	12mo	$134,900	$72	69
1212 Morales	0.36mi	3/2.0 (-1)	1,900 (+2%)	7mo	$229,999	$121	69
519 N San Marcos	0.61mi	3/2.0 (-1)	1,884 (+1%)	6mo	$179,000	$95	60
609 Ruiz St	0.64mi	3/1.5 (-1)	1,628 (-13%)	9mo	$70,000	$43	34

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: 24.8%
• Equity multiple: 3.02×
• Total profit: $132,622
• Equity at exit: $211,707

10-year hold

• IRR: 23.2%
• Equity multiple: 7.36×
• Total profit: $418,527
• Equity at exit: $456,553

Cash invested: $65,800 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,954 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-81

Break-even live

Break-even rent $2,056

Max offer price $223,331

Occupancy floor 99%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2246 W Houston St San Antonio, TX	4.0	3.0	1654	$2,100	$1.27	11d	1	0.13mi
2425 Monterey St San Antonio, TX	3.0	2.0	1416	$2,000	$1.41	44d	1	0.51mi
143 Huntington St Unit 101 San Antonio, TX	3.0	2.5	2298	$1,550	$0.67	44d	1	0.62mi
709 S Chupaderas St San Antonio, TX	3.0	2.0	1518	$1,345	$0.89	24d	1	0.68mi
811 Rivas St San Antonio, TX	3.0	2.0	1276	$1,580	$1.24	24d	1	0.71mi
2811 Buena Vista St San Antonio, TX	4.0	2.0	1750	$2,350	$1.34	24d	1	0.72mi
230 Micklejohn St San Antonio, TX	3.0	2.0	1368	$1,595	$1.17	24d	1	0.97mi
230 Micklejohn St San Antonio, TX	3.0	2.0	1368	$1,695	$1.24	44d	1	0.98mi
1230 Rivas St San Antonio, TX	3.0	2.5	1287	$1,999	$1.55	24d	1	1.02mi
210 Cadwallader St San Antonio, TX	4.0	2.5	1396	$1,975	$1.41	44d	1	1.05mi
1615 N Navidad St Unit 101 San Antonio, TX	3.0	2.0	1804	$999	$0.55	4d	1	1.06mi
1011 S Frio St San Antonio, TX	3.0	1.0–3.0	1121	$2,195	$1.96	2d	32	1.13mi
939 S Frio St Unit 3294 San Antonio, TX	3.0	2.0	1737	$2,277	$1.31	3d	1	1.14mi
100 N Santa Rosa San Antonio, TX	3.0	1.0–3.0	1299	$3,845	$2.96	2d	39	1.24mi
3610 Palmwood Ter San Antonio, TX	4.0	2.0	1634	$1,799	$1.10	44d	1	1.26mi
219 Princeton Ave San Antonio, TX	3.0	2.0	1230	$2,200	$1.79	24d	1	1.27mi
603 W Euclid Ave #2 San Antonio, TX	3.0	3.5	1887	$2,775	$1.47	3d	1	1.28mi
603 W Euclid Ave #4 San Antonio, TX	3.0	3.5	2100	$3,150	$1.50	44d	1	1.28mi
135 Harvard Ter San Antonio, TX	3.0	2.0	1509	$1,875	$1.24	4d	1	1.29mi
123 Park Ct San Antonio, TX	3.0	2.0	1368	$1,995	$1.46	44d	1	1.33mi
1623 W Ashby Pl San Antonio, TX	4.0	2.0	1556	$1,900	$1.22	24d	1	1.46mi
300 N Main Ave San Antonio, TX	3.0	1.0–2.5	1153	$10,437	$9.05	2d	101	1.47mi

Listing history 4 events

1. 2026-05-22
   soldstatus Sold
2. 2026-04-03
   status Pending
3. 2026-03-28
   price $235,000
4. 2026-03-12
   listed $239,900 New

ⓘ 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 7 d/yr ≥109°F today · 22 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: $23,444
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$6,836
• Taxable loss: −$5,007
• Est. tax savings @ 24.0%: +$1,202
• After-tax cash flow: $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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 2023-built home in San Antonio is in good condition with modern updates and a well-maintained exterior. It offers a good investment opportunity with potential for further value enhancement through minor improvements.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Both Adding 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 — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Both Adding 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: 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

-2.0% since first listed

4 events — show timeline

• 2026-05-22 Sold (MLS) — LERA
• 2026-04-03 Pending — LERA
• 2026-03-28 Price Changed $235,000 LERA
• 2026-03-12 Listed $239,900 LERA