912 Torreon

San Antonio, TX 78207

$144,000D

3 bd · 2.0 ba · 960 sqft · Built 1996 · SingleFamily · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,298/mo
• Mortgage (P&I): −$755
• Tax + insurance: −$304
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $-33/mo
• Annual: $-402/yr
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• 1% rule: 0.90%
• Cash to close: $40,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $-33 ($-402/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (9.8% below list).
• It's been on market 139 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• In year one you build about $15k of equity ($996 loan paydown + $14k 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: 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.
• Zoned schools: De Zavala El (math 17% / reading 19%, grade F, #3,785 of 4,322 statewide, top 88%, 418 students, 98% FRL); Tafolla Middle (math 6% / reading 16%, grade F, #1,634 of 1,662 statewide, top 99%, 697 students, 97% FRL); Lanier H S (math 9% / reading 15%, grade F, #1,554 of 1,632 statewide, top 95%, 1,547 students, 97% FRL) — zoned schools average 97% FRL vs 80% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.7%/yr); 164 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $36k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 7.7% rent growth), your $40k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% 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.
• At $1,298/mo this rent would consume 48% 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.

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 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.