8810 Mesa

San Antonio, TX 78224

$225,000D+

3 bd · 2.5 ba · 1,879 sqft · Built 2007 · SingleFamily · Active · 364 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,082/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$572
• HOA: −$22
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-130/mo
• Annual: $-1,558/yr
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• 1% rule: 0.93%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $225k.
• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (7.5% below list).
• It's been on market 364 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• In year one you build about $24k of equity ($2k loan paydown + $22k 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.
• South San Antonio ISD (urban): math 13% / reading 20% proficiency, ranked #804 of 826 in TX (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: Rents flat; 274 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $24k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% 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.
• This rent runs 42% 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 364 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?