119 Bank · San Antonio, TX 78204

$795,000

8 bd · 8.0 ba · 5,510 sqft · MultiFamily · 196 Days on market

Built 1949 9,626 sqft lot $144/sqft · 11% above area Est $714k · 11% over

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Rent growth +2.1/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

119 Bank St, San Antonio, TX 78204. A rare opportunity in the booming Lone Star/Southtown corridor. 11 Units | $795,000 | 8.8 Cap Rate | All Bills Paid | NOI: $70,179.15 This multi-building compound features 11 rentable units, a central courtyard, and a flexible mix of unit types ideal for strong cash flow. Rear Building - 6 Units: Three 1-bedroom apartments and three efficiencies. Middle Courtyard Row - 3 Units: Two efficiencies and one 1-bedroom unit. One efficiency is currently vacant (market $695/mo). Front Buildings - 2 Units: * 3-bedroom/1-bath single-family home. * Two-story co-living house with 7 rentable bedrooms (4 currently rented) Financials: * Monthly income: $9,475 * Annual income: $113,700 * Operating expenses: $43,520.85 * Net Operating Income: $70,170.15 * 8.8 Cap Rate at List Price * All utilities included (owner pays water, electric, taxes, insurance) Investors you need to come see this one.

Key facts

• Central courtyard
• 9,626 sq ft lot
• 7 parking spots

Tags

• CENTRAL COURTYARD
• MULTI-BUILDING COMPOUND
• FLEXIBLE MIX OF UNIT TYPES

What this means for you Summary

Snapshot

• This is a 8-bed/8.0-bath multifamily listed at $795k.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $795k).
• Recommended offer: $700k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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 soft (-1.4%/yr); 94 active listings in the ZIP; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $13,109/mo this rent would consume 261% of the median local household income ($60k/yr) (locally 545% 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 $85k of equity ($5k loan paydown + $80k 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 + 0.0% rent growth), your $223k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($700k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $699,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.21%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (median comp): $714,219
• List price: $795,000
• Delta: 11.31%
• Verdict: OVERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 42.3%
• Equity multiple: 4.16×
• Total profit: $704,425
• Equity at exit: $716,199

10-year hold

• IRR: 35.4%
• Equity multiple: 8.92×
• Total profit: $1,762,500
• Equity at exit: $1,544,510

Cash invested: $222,600 (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 78204

• Home prices YoY: 6.4%
• Rents YoY: -1.4%
• Active inventory: 94
• Price-to-rent: 62.5×

Monthly cashflow live

• Estimated rent: $13,109 high
• Mortgage (P&I): −$4,169
• Tax est. 1.5%: −$994 /mo · $11,925/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,753
• Net cashflow: $4,862

Break-even live

Break-even rent $6,955

Max offer price $795,000

Occupancy floor 58%

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$8,480
1× unit	3	1	$1,310
▸ 2× units	7	1	$3,316
Total (11 units)			$13,109

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $795,000 Active 196 DOM
2. 2026-06-17
   days on market $795,000 Active 195 DOM
3. 2026-06-16
   days on market $795,000 Active 194 DOM
4. 2026-06-15
   days on market $795,000 Active 193 DOM
5. 2026-06-13
   days on market $795,000 Active 191 DOM
6. 2026-06-09
   days on market $795,000 Active 187 DOM
7. 2026-06-08
   days on market $795,000 Active 186 DOM
8. 2026-06-07
   days on market $795,000 Active 185 DOM
9. 2026-06-04
   days on market $795,000 Active 182 DOM
10. 2026-06-03
    days on market $795,000 Active 181 DOM
11. 2026-06-02
    days on market $795,000 Active 180 DOM
12. 2026-06-01
    days on market $795,000 Active 179 DOM
13. 2026-05-31
    days on market $795,000 Active 178 DOM
14. 2025-12-05
    listed $795,000 New 950-char remark

    Show marketing remark (950 chars)

    119 Bank St, San Antonio, TX 78204. A rare opportunity in the booming Lone Star/Southtown corridor. 11 Units | $795,000 | 8.8 Cap Rate | All Bills Paid | NOI: $70,179.15 This multi-building compound features 11 rentable units, a central courtyard, and a flexible mix of unit types ideal for strong cash flow. Rear Building - 6 Units: Three 1-bedroom apartments and three efficiencies. Middle Courtyard Row - 3 Units: Two efficiencies and one 1-bedroom unit. One efficiency is currently vacant (market $695/mo). Front Buildings - 2 Units: * 3-bedroom/1-bath single-family home. * Two-story co-living house with 7 rentable bedrooms (4 currently rented) Financials: * Monthly income: $9,475 * Annual income: $113,700 * Operating expenses: $43,520.85 * Net Operating Income: $70,170.15 * 8.8 Cap Rate at List Price * All utilities included (owner pays water, electric, taxes, insurance) Investors you need to come see this one.

15. 2012-12-31
    historical
16. 2011-09-01
    listed $239,900
17. 2011-08-27
    historical
18. 2009-02-27
    listed $249,900
19. 2005-08-03
    soldstatus
20. 2005-02-25
    listed $250,000

ⓘ 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 ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $157,308
• − Mortgage interest: −$44,532
• − Property taxes: −$11,925
• − Insurance: −$3,975
• − Repairs & maintenance: −$12,585
• − Management: −$12,585
• − Depreciation: −$23,127
• Taxable income: $48,579
• Est. tax owed @ 24.0%: −$11,659
• After-tax cash flow: $46,686/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: 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): 11,983
• Household income: $60,255
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 545.0

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 (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 37% White 15% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 74%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 50% English-only · Spanish 49%

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: ▲ 14.91%
• Current HPI: 249.0597
• Rent YoY: ▼ -1.44%
• 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

+218.0% since first listed

7 events — show timeline

• 2025-12-05 Listed $795,000 LERA
• 2012-12-31 Listing Removed — LERA
• 2011-09-01 Listed $239,900 LERA
• 2011-08-27 Listing Removed — LERA
• 2009-02-27 Listed $249,900 LERA
• 2005-08-03 Sold (MLS) — LERA
• 2005-02-25 Listed $250,000 LERA