806 Tulane Dr · San Antonio, TX 78228

$115,000

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 12 Days on market

Built 1948 7,013 sqft lot Est $162k · 29% under ↓ 15% 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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• 1% rule +5.1/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity in a prime location just minutes from St. Mary's University. Situated only a few blocks from the university and surrounded by ongoing redevelopment and revitalization, this property offers strong long-term upside for investors or buyers looking to add value in an established area. The home is in need of renovation and features 3 bedrooms, 1 bathroom, a covered carport, and a generously sized front and backyard that are fully fenced with double-gated access. With its desirable location and continued growth throughout the surrounding neighborhood, this property presents an excellent opportunity to capitalize on the area's increasing demand and redevelopment activity. Sc

Key facts

• Fully fenced
• Double-gated access
• 7,013 sq ft lot

Tags

• FULLY FENCED
• DOUBLE-GATED ACCESS

Property features AI

Finance

• HOA & community: Subdivision: UNIVERSITY PARK; Subdivision legal name: UNIVERSITY PARK SA/NS

Exterior

• Parking: 1-car garage
• Utilities: Water provided by SAWS; Sewer provided by SAWS; Electricity supplied by CPS; Gas supplied by CPS; City garbage service
• Home design: Pre-owned property; Approximate age: 78 years; Asbestos shingle and wood exterior; Composition roof
• Construction: Asbestos shingle exterior; Wood exterior; Composition roof
• Exterior features: Chain link fence

Interior

• Kitchen: Kitchen approx. 10 x 9
• Bedrooms: Master bedroom approx. 10 x 11; Bedroom 2 approx. 10 x 12; Bedroom 3 approx. 10 x 11; Master bedroom has other features (see remarks)
• Flooring: Wood flooring; Linoleum flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heat
• Interior features: Ceiling fans; Attic with access only; City garbage service; Gas water heater; Washer and dryer connections
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-11 ($-136/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (1.7% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.7% below list) — sets the bar for cash-flow.
• Cap rate 6.2% 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 (+4.9%/yr); 89 active listings in the ZIP; 36 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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: property tax is 2.9% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $112,993 (1.7% 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. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 6.17%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $162,360
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Fordham	0.24mi	2/1.0	1,104 (+12%)	2mo	$105,000	$95	67
423 Wake Forrest	0.21mi	3/1.0 (+1)	1,100 (+12%)	2mo	$179,900	$164	64
215 Bradford	0.23mi	3/1.0 (+1)	1,094 (+11%)	10mo	$150,000	$137	57
207 Wake Forrest Dr	0.21mi	3/1.0 (+1)	1,096 (+11%)	16mo	$175,000	$160	53
2335 Waverly Ave	0.37mi	3/1.0 (+1)	1,092 (+11%)	8mo	$180,000	$165	53
3230 & 3232 W French Pl	0.41mi	2/1.0	891 (-10%)	18mo	$165,000	$185	50
1938 Texas	0.75mi	2/1.0	1,058 (+8%)	9mo	$105,000	$99	45
115 Rollins	0.72mi	3/1.0 (+1)	854 (-13%)	3mo	$150,000	$176	37
114 Comfort	0.71mi	3/1.0 (+1)	1,066 (+8%)	13mo	$199,000	$187	37
2212 Waverly Ave	0.53mi	3/2.0 (+1)	1,079 (+10%)	21mo	$180,000	$167	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.47×
• Total profit: $-16,960
• Equity at exit: $17,147

10-year hold

• IRR: -2.3%
• Equity multiple: 0.83×
• Total profit: $-5,484
• Equity at exit: $9,943

Cash invested: $32,200 (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 78228

• Home prices YoY: -22.1%
• Rents YoY: 4.9%
• Active inventory: 89
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$603
• Tax from tax record: −$282 /mo · $3,382/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-11

Break-even live

Break-even rent $1,181

Max offer price $112,993

Occupancy floor 96%

Sensitivity live

Price	-10% $54	-5% $21	+0% $-11	+5% $-44	+10% $-76
Rent	-10% $-104	-5% $-57	+0% $-11	+5% $35	+10% $81
Rate	-1.0pp $47	-0.5pp $18	base $-11	+0.5pp $-41	+1.0pp $-71

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2553 Cincinnati Ave San Antonio, TX	1.0	1.0	800	$780	$0.97	24d	1	0.15mi
2426 Cincinnati Ave San Antonio, TX	2.0	1.0	700	$975	$1.39	24d	1	0.18mi
224 Marquette Dr San Antonio, TX	2.0	1.0	984	$1,350	$1.37	24d	1	0.23mi
2331 Cincinnati Ave Unit 2345 04 San Antonio, TX	1.0	1.0	750	$900	$1.20	4d	1	0.34mi
2331 Cincinnati Ave Unit 2345 03 San Antonio, TX	3.0	1.0	950	$1,300	$1.37	4d	1	0.34mi
2331 Cincinnati Ave San Antonio, TX	1.0–3.0	1.0	850	$1,100	$1.29	13d	3	0.35mi
306 Overhill Dr San Antonio, TX	2.0	1.0	1009	$1,200	$1.19	5d	1	0.39mi
3301 W Woodlawn Ave San Antonio, TX	1.0–2.0	1.0	825	$881	$1.07	24d	3	0.45mi
3156 W French Pl San Antonio, TX	2.0	2.0	1100	$1,150	$1.05	44d	1	0.49mi
2825 W Woodlawn Ave Unit 2825-WW San Antonio, TX	2.0	1.0	700	$1,195	$1.71	4d	1	0.52mi
102 E Cheryl Dr #2 San Antonio, TX	1.0	1.0	600	$800	$1.33	44d	1	0.61mi
1171 Bandera Rd San Antonio, TX	1.0–2.0	1.0	750	$1,375	$1.83	24d	5	0.74mi
2718 W Craig Pl San Antonio, TX	2.0	1.0	1004	$1,350	$1.34	13d	1	0.83mi
2718 W Craig Pl San Antonio, TX	2.0	1.0	1004	$1,350	$1.34	11d	1	0.83mi
127 Riverdale Dr San Antonio, TX	3.0	1.0	1032	$1,100	$1.07	13d	1	0.85mi
1405 Donaldson Ave Unit 202 San Antonio, TX	2.0	1.0	560	$995	$1.78	44d	1	0.93mi
330 W Cheryl Dr San Antonio, TX	1.0–3.0	1.0–2.0	975	$1,071	$1.10	44d	1	0.94mi
206 Bexar Dr San Antonio, TX	2.0	1.0	832	$895	$1.08	24d	1	0.97mi
208 Bexar Dr San Antonio, TX	2.0	1.0	832	$895	$1.08	5d	1	0.97mi
606 Bexar Dr San Antonio, TX	3.0	2.0	909	$1,210	$1.33	5d	1	0.98mi
429 Zachry Dr San Antonio, TX	2.0	1.0	800	$1,050	$1.31	21d	1	1.08mi
122 Collins Ct San Antonio, TX	2.0	1.0	927	$1,150	$1.24	22d	1	1.15mi
2503 Arbor Pl San Antonio, TX	2.0	1.0	750	$800	$1.07	44d	1	1.18mi
1218 NW 23rd St Unit 2 San Antonio, TX	1.0	10.5	548	$950	$1.73	24d	1	1.23mi
314 Globe Ave San Antonio, TX	3.0	2.0	936	$1,600	$1.71	3d	1	1.26mi
811 John Adams Dr San Antonio, TX	2.0	1.0	720	$1,025	$1.42	5d	1	1.29mi
734 Donaldson Ave Unit B San Antonio, TX	2.0	1.0	910	$910	$1.00	4d	1	1.33mi
734 Donaldson Ave Unit D San Antonio, TX	2.0	1.0	910	$915	$1.01	13d	1	1.34mi
1025 Sutton Dr San Antonio, TX	3.0	1.0	1000	$1,250	$1.25	44d	1	1.34mi
1455 Hillcrest Dr Apt 6 San Antonio, TX	1.0	1.0	645	$750	$1.16	44d	1	1.34mi
1455 Hillcrest Dr Unit 8 San Antonio, TX	1.0	1.0	645	$750	$1.16	13d	1	1.34mi
4214 Woodmanor Dr Unit 1 San Antonio, TX	2.0	1.0	750	$1,000	$1.33	44d	1	1.38mi
4223 Woodmanor Dr San Antonio, TX	2.0	1.0	750	$1,000	$1.33	13d	1	1.41mi
4223 Woodmanor Dr Unit 1 San Antonio, TX	2.0	1.0	750	$1,000	$1.33	24d	1	1.41mi
844 E Sunshine Dr Unit 202 San Antonio, TX	2.0	1.0	640	$950	$1.48	5d	1	1.45mi
844 E Sunshine Dr Unit 401 San Antonio, TX	2.0	1.0	640	$890	$1.39	22d	1	1.45mi

Listing history 9 events

1. 2026-06-18
   days on market $115,000 Active 12 DOM
2. 2026-06-17
   statusdays on market $115,000 Active 11 DOM
3. 2026-06-16
   days on market $115,000 New 10 DOM
4. 2026-06-15
   days on market $115,000 New 9 DOM
5. 2026-06-13
   days on market $115,000 New 7 DOM
6. 2026-06-09
   days on market $115,000 New 3 DOM
7. 2026-06-08
   days on market $115,000 New 2 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $115,000 New 1 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: $3,382 · $282/mo
• Projected year-2 tax: $3,382 · $282/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 6/10 Major 77% 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: $13,997
• − Mortgage interest: −$6,442
• − Property taxes: −$3,382
• − Insurance: −$575
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$3,345
• Taxable loss: −$1,987
• Est. tax savings @ 24.0%: +$477
• After-tax cash flow: $340/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): 56,165
• Household income: $52,976
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 2709.0

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 43% White 8% Black 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 46% English-only · Spanish 53% Other Indo-European 1%

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: ▼ -74.04%
• Current HPI: 261.1558
• Rent YoY: ▲ 4.92%
• 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

-14.8% since first listed

14 events — show timeline

• 2026-06-06 Listed $115,000 LERA
• 2023-11-20 Listing Removed — LERA
• 2023-10-11 Price Changed $110,000 LERA
• 2023-09-01 Relisted — LERA
• 2023-07-01 Pending — LERA
• 2023-06-29 Contingent — LERA
• 2023-06-26 Price Changed $99,000 LERA
• 2023-06-18 Price Changed $110,000 LERA
• 2023-04-27 Price Changed $115,000 LERA
• 2023-04-19 Price Changed $120,000 LERA
• 2023-04-19 Relisted — LERA
• 2023-01-26 Listing Removed — LERA
• 2023-01-09 Listed $135,000 LERA
• 2011-12-28 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,382 · +10.0% YoY. Source: county tax records.