Ramsey Plan

San Antonio, TX 78224

$238,999D-

4 bd · 2.0 ba · 1,676 sqft · Built — · SingleFamily · Active · 387 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,971/mo
• Mortgage (P&I): −$1,445
• Tax + insurance: −$459
• HOA: −$0
• Vac / Maint / Mgmt: −$414
• Net cashflow: $-347/mo
• Annual: $-4,169/yr
• Cap rate: 4.78%
• Cash-on-cash: -5.40%
• DSCR: 0.76
• 1% rule: 0.72%
• Cash to close: $77,178

Investor read

• This is a 4-bed/2.0-bath single-family listed at $239k. Condition is rated poor.
• At list price, monthly cash flow is $-347 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (17.5% below list).
• It's been on market 387 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $197k (17.5% below list) — sets the bar for 1% rule.
• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• 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.
• Southwest ISD (rural): math 21% / reading 31% proficiency, ranked #701 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 276 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• 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 ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% 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.
• This rent runs 40% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 387 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Exposed shingles and potential water damage
• Major: exterior siding — Weathered and damaged
• Major: exterior paint — Cracked and peeling