Highgate Plan · Converse, TX 78109

$204,999

4 bd · 2.5 ba · 1,802 sqft · SingleFamily · 493 Days on market

Good condition ↓ 10% since listing

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Why this score? — see what drove the F 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 +9.6/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Rent growth +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

Key facts

• Open floorplan
• Adjoining bathroom
• Sprawling game room

Tags

• TWO STORY HOME
• CHEF READY KITCHEN
• OPEN FLOORPLAN
• TRANQUIL OWNER'S SUITE
• ADJOINING BATHROOM
• SPRAWLING GAME ROOM

🏗️ New construction. The $204,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $228,758.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (11.8% below list).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 4.4% in Converse — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#649 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime C-, amenities F, commute F.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Central Heritage Middle (math 11% / reading 26%, grade F, #1,478 of 1,662 statewide, top 90%, 1,120 students, 44% FRL); East Central H S (math 21% / reading 28%, grade F, #1,264 of 1,632 statewide, top 82%, 3,252 students, 52% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1949 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 69d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 493 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.

Recommended offer $180,399 (12.0% 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. It's been on market 493 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.79% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.87%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (median comp): $228,758
• List price: $204,999
• Delta: -10.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11334 Evergreen Rose	0.28mi	4/2.5	1,802 (0%)	1mo	$187,999	$104	86
11327 Evergreen Rose	0.28mi	4/2.5	1,802 (0%)	4mo	$179,999	$100	84
11565 Cinnamon Rose	0.24mi	4/2.5	1,802 (0%)	6mo	$179,999	$100	84
11561 Cinnamon Rose	0.25mi	4/2.5	1,692 (-6%)	3mo	$214,999	$127	76
11326 Evergreen Rose	0.28mi	4/2.0	1,897 (+5%)	0mo	$212,999	$112	76
11549 Cinnamon Rose	0.26mi	4/2.5	1,897 (+5%)	4mo	$227,999	$120	75
11409 Evergreen Rose	0.28mi	4/2.0	1,692 (-6%)	0mo	$208,999	$124	74
11318 Evergreen Rose	0.28mi	4/2.0	1,692 (-6%)	1mo	$211,999	$125	74
11319 Evergreen Rose	0.28mi	4/2.5	1,692 (-6%)	4mo	$217,999	$129	73
11541 Cinnamon Rose	0.27mi	4/2.5	1,692 (-6%)	6mo	$224,999	$133	72
11723 Evergreen Rose	0.27mi	4/3.0	1,657 (-8%)	5mo	$236,999	$143	67
11740 Evergreen Rose	0.27mi	3/3.0 (-1)	1,657 (-8%)	1mo	$229,999	$139	66

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.5%
• Equity multiple: 0.19×
• Total profit: $-52,101
• Equity at exit: $34,109

10-year hold

• IRR: -32.1%
• Equity multiple: -0.22×
• Total profit: $-78,297
• Equity at exit: $19,779

Cash invested: $64,052 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 84 active · 60 under contract
• Months of supply: 10.5 mo (10%/mo absorbed)
• Median asking: $286,432 ($156/sqft)
• Median days on market: 361 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: -18.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1949
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$1,200
• Tax est. 1.5%: −$286 /mo · $3,431/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $-153

Break-even live

Break-even rent $2,001

Max offer price $206,575

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-74	+0% $-153	+5% $-232	+10% $-311
Rent	-10% $-296	-5% $-225	+0% $-153	+5% $-82	+10% $-11
Rate	-1.0pp $-38	-0.5pp $-95	base $-153	+0.5pp $-213	+1.0pp $-273

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: $57,190
• Closing costs: $6,863
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11703 Arctic Rose Converse, TX	4.0	2.0	1627	$1,650	$1.01	3d	1	0.05mi
11711 Field Briar Converse, TX	4.0	2.0	1870	$1,550	$0.83	7d	1	0.07mi
11767 Arctic Rose Converse, TX	3.0	2.0	1450	$1,500	$1.03	69d	1	0.08mi
11768 Arctic Rose Converse, TX	4.0	2.0	1600	$1,600	$1.00	9d	1	0.09mi
11718 Field Briar Converse, TX	3.0	2.0	1266	$1,395	$1.10	0d	1	0.10mi
11718 Field Briar Converse, TX	3.0	2.0	1266	$1,445	$1.14	13d	1	0.10mi
11725 California Rose Converse, TX	4.0	2.5	1870	$1,750	$0.94	10d	1	0.12mi
11653 Dog Rose Converse, TX	4.0	2.0	1483	$1,449	$0.98	10d	1	0.13mi
11559 Field Briar Converse, TX	3.0	2.0	1380	$1,315	$0.95	10d	1	0.15mi
11602 Dog Rose Converse, TX	3.0	2.0	1354	$1,650	$1.22	164d	1	0.22mi
1859 Musk Rose Converse, TX	4.0	2.0	1575	$1,520	$0.97	2d	1	0.26mi
11327 Evergreen Rose Converse, TX	4.0	2.5	1802	$1,500	$0.83	10d	1	0.26mi
2235 Camellia Rose Converse, TX	4.0	2.0	1500	$1,400	$0.93	10d	1	0.28mi
1937 Pasture Rose Converse, TX	4.0	2.0	1575	$1,545	$0.98	74d	1	0.33mi
1815 Musk Rose Converse, TX	4.0	2.5	1867	$1,850	$0.99	10d	1	0.33mi
11515 Cedar Close Converse, TX	4.0	3.0	2378	$1,895	$0.80	143d	1	0.37mi
11434 Cedar Close Converse, TX	3.0	2.0	1917	$1,750	$0.91	20d	1	0.42mi
11430 Cedar Close Converse, TX	4.0	3.0	2368	$2,097	$0.89	10d	1	0.43mi
11221 Hollinger Cir Converse, TX	3.0	2.5	1788	$1,900	$1.06	23d	1	0.86mi
11221 Hollinger Cir Converse, TX	3.0	2.5	1788	$1,799	$1.01	10d	1	0.86mi
11221 Hollinger Cir Converse, TX	3.0	2.5	1788	$1,900	$1.06	55d	1	0.86mi
11151 Hollinger Cir Converse, TX	4.0	2.5	1859	$1,705	$0.92	164d	1	0.92mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1689	$1,950	$1.15	143d	1	0.95mi
11130 Hollinger Cir Converse, TX	3.0	2.5	1709	$1,950	$1.14	162d	1	0.95mi
11131 Hollinger Cir Converse, TX	3.0	2.5	1628	$2,300	$1.41	129d	1	0.96mi
3106 Drayton Ests Converse, TX	2.0–5.0	2.0–3.5	1733	$2,393	$1.38	0d	1	1.05mi
11050 Eyelet Hbr Converse, TX	4.0	2.5	2205	$1,875	$0.85	10d	1	1.06mi
11046 Eyelet Hbr Converse, TX	3.0	2.0	1525	$1,750	$1.15	164d	1	1.07mi
11038 Chatham Ct Converse, TX	4.0	2.5	2205	$1,699	$0.77	74d	1	1.08mi
2826 Praline Fry Converse, TX	5.0	2.5	2543	$2,095	$0.82	134d	1	1.11mi
2822 Praline Fry Converse, TX	3.0	2.0	1525	$1,770	$1.16	112d	1	1.11mi
2818 Praline Fry Converse, TX	3.0	2.5	1428	$1,500	$1.05	129d	1	1.11mi
2810 Praline Fry Converse, TX	4.0	2.5	2204	$1,745	$0.79	184d	1	1.12mi
11019 Chatham Ct Converse, TX	3.0	2.5	1428	$1,425	$1.00	184d	1	1.13mi
11010 Eyelet Hbr Converse, TX	5.0	2.5	2543	$2,085	$0.82	85d	1	1.14mi
11002 Eyelet Hbr Converse, TX	4.0	2.5	2204	$1,745	$0.79	184d	1	1.14mi
2815 Praline Fry Converse, TX	4.0	2.5	2204	$1,790	$0.81	105d	1	1.15mi
11002 Chatham Ct Converse, TX	5.0	2.5	2543	$2,145	$0.84	112d	1	1.16mi
3034 Citron Gdn Converse, TX	5.0	2.5	2543	$1,965	$0.77	37d	1	1.16mi
2826 Tybee Crk Converse, TX	4.0	2.5	2204	$1,830	$0.83	145d	1	1.16mi

Listing history 50 events

1. 2026-11-08
   days on market $204,999 Active 493 DOM
2. 2026-11-07
   days on market $204,999 Active 492 DOM
3. 2026-11-06
   days on market $204,999 Active 491 DOM
4. 2026-11-05
   days on market $204,999 Active 490 DOM
5. 2026-11-04
   days on market $204,999 Active 489 DOM
6. 2026-11-02
   days on market $204,999 Active 487 DOM
7. 2026-11-01
   days on market $204,999 Active 486 DOM
8. 2026-10-31
   days on market $204,999 Active 485 DOM
9. 2026-10-30
   days on market $204,999 Active 484 DOM
10. 2026-10-29
    days on market $204,999 Active 483 DOM
11. 2026-10-28
    days on market $204,999 Active 482 DOM
12. 2026-10-27
    days on market $204,999 Active 481 DOM
13. 2026-10-26
    days on market $204,999 Active 480 DOM
14. 2026-10-26
    days on market $204,999 Active 479 DOM
15. 2026-10-24
    days on market $204,999 Active 478 DOM
16. 2026-10-23
    days on market $204,999 Active 477 DOM
17. 2026-10-22
    days on market $204,999 Active 476 DOM
18. 2026-10-21
    days on market $204,999 Active 475 DOM
19. 2026-10-20
    days on market $204,999 Active 474 DOM
20. 2026-10-19
    days on market $204,999 Active 473 DOM
21. 2026-10-18
    days on market $204,999 Active 472 DOM
22. 2026-10-17
    days on market $204,999 Active 471 DOM
23. 2026-10-16
    days on market $204,999 Active 470 DOM
24. 2026-10-15
    days on market $204,999 Active 469 DOM
25. 2026-10-14
    days on market $204,999 Active 468 DOM
26. 2026-10-13
    days on market $204,999 Active 467 DOM
27. 2026-10-12
    days on market $204,999 Active 466 DOM
28. 2026-10-11
    days on market $204,999 Active 465 DOM
29. 2026-10-10
    days on market $204,999 Active 464 DOM
30. 2026-10-09
    days on market $204,999 Active 463 DOM
31. 2026-10-08
    days on market $204,999 Active 462 DOM
32. 2026-10-07
    days on market $204,999 Active 461 DOM
33. 2026-10-07
    days on market $204,999 Active 460 DOM
34. 2026-10-05
    days on market $204,999 Active 459 DOM
35. 2026-10-04
    days on market $204,999 Active 458 DOM
36. 2026-10-04
    days on market $204,999 Active 457 DOM
37. 2026-10-02
    days on market $204,999 Active 456 DOM
38. 2026-10-01
    days on market $204,999 Active 455 DOM
39. 2026-09-30
    days on market $204,999 Active 454 DOM
40. 2026-09-29
    days on market $204,999 Active 453 DOM
41. 2026-09-28
    days on market $204,999 Active 452 DOM
42. 2026-09-27
    days on market $204,999 Active 451 DOM
43. 2026-09-25
    days on market $204,999 Active 449 DOM
44. 2026-09-24
    days on market $204,999 Active 448 DOM
45. 2026-09-23
    days on market $204,999 Active 447 DOM
46. 2026-09-22
    days on market $204,999 Active 446 DOM
47. 2026-09-21
    days on market $204,999 Active 445 DOM
48. 2026-09-20
    days on market $204,999 Active 444 DOM
49. 2026-09-19
    days on market $204,999 Active 443 DOM
50. 2026-09-18
    days on market $204,999 Active 442 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,685
• − Mortgage interest: −$12,814
• − Property taxes: −$3,431
• − Insurance: −$1,144
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$6,655
• Taxable loss: −$5,829
• Est. tax savings @ 24.0%: +$1,399
• After-tax cash flow: $-441/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $9,010–$27,030 screening

This two-story home presents as move-in ready with good condition and modern finishes. It offers a spacious floor plan and ample natural light, making it an attractive option for both resale and rental markets.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and property value ↑
• Resale Replace kitchen faucet — Modern faucet can improve kitchen aesthetics and functionality ↑
• Resale Upgrade bathroom light fixtures — Updated lighting can make bathrooms more inviting and modern ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Middle East Central Heritage Middle F TX #1,478/1,662 Nat'l #12,017/14,009 High East Central H S F TX #1,264/1,632 Nat'l #12,478/17,239

Schools (NCES district)

• District: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 of 826 in TX

C Composite livability gradescore 66/100

Livability — Converse

• Score: 66/100
• State rank: #649
• US rank: #12250

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment B Housing A+ Health & safety F User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bexar County · 2,336,851 people
• City population: 63,067
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 4%
• Languages at home: 71% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 1%

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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: ▼ -51.02%
• Current HPI: 236.4923
• Rent YoY: ▼ -1.08%
• Metro: San Antonio-New Braunfels, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-10.3% since first listed

4 events — show timeline

• 2026-02-13 Price Changed $194,999 Zillow
• 2025-11-17 Price Changed $205,499 Zillow
• 2025-09-01 Price Changed $210,499 Zillow
• 2025-07-03 Listed $217,499 Zillow