11439 Luckey Ledge · San Antonio, TX 78252

$213,000

3 bd · 2.0 ba · 1,793 sqft · SingleFamily public records · 50 Days on market

Built 2013 5,052 sqft lot $119/sqft · 15% below area Est $251k · 15% under $40/mo HOA · 2% of rent

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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 +14.4/15.0
• Cash flow +7.0/30.0
• Appreciation +5.0/10.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Rent growth +2.1/5.0
• DSCR +1.2/10.0

Listing remarks MLS

New from LGI Homes: This beautiful new one story home features 4 bedrooms and 2 bathrooms. The kitchen features beautiful wood cabinets and energy efficient appliances. New refrigerator included! Additional features include raised six panel doors, brushed nickel hardware, vaulted ceiling, large master closet and utility room.

Key facts

• Black appliances
• Ensuite bath
• Open layout

Tags

• OPEN LAYOUT
• DARK WOOD CABINETRY
• BLACK APPLIANCES
• GENEROUS COUNTER SPACE
• LARGE WALK-IN CLOSET
• ENSUITE BATH

Property features AI

Finance

• Financial info: Annual HOA fee $480; Association transfer fee $250; Down payment assistance not indicated
• HOA & community: Mandatory HOA; HOA dues paid annually

Exterior

• Parking: 2-car garage
• Utilities: Water system available; Sewer system available
• Home design: Pre-owned home; Built by LGI Homes; Approximately 13 years old
• Construction: Slab foundation; Composition roof
• Exterior features: Brick and cement fiber exterior; Park/playground in the community

Interior

• Kitchen: Kitchen (14 x 10); Refrigerator; Microwave; Dishwasher; Disposal
• Bedrooms: Master bedroom on lower level with walk-in closet and full bath (14 x 13); Bedroom 2 (8 x 11); Bedroom 3 (9 x 11); Bedroom 4 (9 x 15)
• Flooring: Carpeting; Ceramic tile
• Bathrooms: Two full bathrooms; Master bath with separate tub and shower and single vanity (9 x 11)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Separate dining room; Walk-in pantry; Utility room inside; Cable TV available; High-speed internet; Some window coverings remain; Electric water heater
• Laundry & utility: Washer included; Dryer included; Utility room inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $213k.

Deal economics

• At list price, monthly cash flow is $-316 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (26.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (18.1% below list).
• Recommended offer: $157k (26.2% below list) — sets the bar for cash-flow.

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: crime F.
• Southwest ISD (rural): math 21% / reading 31% proficiency, ranked #701 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southwest El (math 38% / reading 33%, grade F, #1,946 of 4,322 statewide, top 45%, 654 students, 73% FRL); Ronald E Mcnair Middle (math 27% / reading 31%, grade F, #1,103 of 1,662 statewide, top 67%, 748 students, 77% FRL); Southwest H S (math 17% / reading 39%, grade F, #1,170 of 1,632 statewide, top 72%, 2,152 students, 72% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents soft (-1.7%/yr); 555 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $-4 appreciation (-0.0% local appreciation)).
• 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 50 days — a 3% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 2.5% of price.
• 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.

Recommended offer $157,127 (26.2% 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 50 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 4.51%
• Cash-on-cash: -6.36%
• DSCR: 0.72
• GRM: 10.2

CMA / ARV

• ARV (median comp): $251,396
• List price: $213,000
• Delta: -15.27%
• 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
11423 Luckey Ledge	0.04mi	3/2.0	1,562 (-13%)	1mo	$224,000	$143	76
11828 Luckey Fls	0.37mi	3/2.0	1,742 (-3%)	6mo	$269,900	$155	73
11635 Luckey Ledge	0.12mi	3/2.0	1,562 (-13%)	4mo	$229,900	$147	69
10858 Quinn Ct	0.50mi	4/2.5 (+1)	1,783 (-1%)	3mo	$285,900	$160	66
6514 Underwood Way	0.33mi	4/2.0 (+1)	1,926 (+7%)	2mo	$270,000	$140	66
10831 Quinn Ct	0.56mi	4/2.5 (+1)	1,935 (+8%)	1mo	$305,900	$158	53
10850 Quinn Ct	0.53mi	4/2.5 (+1)	1,935 (+8%)	2mo	$290,900	$150	53
10862 Quinn Ct	0.54mi	4/2.5 (+1)	1,935 (+8%)	3mo	$290,900	$150	52
12123 Luckey	0.50mi	3/2.0	1,562 (-13%)	8mo	$219,999	$141	49
10819 Quinn Ct	0.54mi	4/2.5 (+1)	1,935 (+8%)	8mo	$301,900	$156	48
12015 Luckey Vw	0.38mi	4/2.5 (+1)	2,041 (+14%)	8mo	$179,000	$88	46
5634 Forest Cyn	0.68mi	3/2.5	1,553 (-13%)	5mo	$214,999	$138	40

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

Projected returns pro-forma

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

5-year hold

• IRR: -11.5%
• Equity multiple: 0.47×
• Total profit: $-31,342
• Equity at exit: $61,829

10-year hold

• IRR: -7.5%
• Equity multiple: 0.26×
• Total profit: $-44,400
• Equity at exit: $74,307

Cash invested: $59,640 (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 78252

• Home prices YoY: -0.0%
• Rents YoY: -1.7%
• Active inventory: 555
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$1,117
• Tax from tax record: −$448 /mo · $5,381/yr
• Insurance: −$89
• HOA: −$40
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-316

Break-even live

Break-even rent $2,145

Max offer price $157,127

Occupancy floor —

Sensitivity live

Price	-10% $-196	-5% $-256	+0% $-316	+5% $-377	+10% $-437
Rent	-10% $-454	-5% $-385	+0% $-316	+5% $-247	+10% $-178
Rate	-1.0pp $-209	-0.5pp $-262	base $-316	+0.5pp $-371	+1.0pp $-428

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: $53,250
• Closing costs: $6,390
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11543 Luckey Ledge San Antonio, TX	4.0	2.0	1793	$1,615	$0.90	45d	1	0.03mi
11803 Luckey Vis San Antonio, TX	3.0	2.5	1778	$1,711	$0.96	0d	1	0.27mi
6843 Luckey Path San Antonio, TX	3.0	2.0	1404	$1,450	$1.03	45d	1	0.35mi
6525 Underwood Way San Antonio, TX	3.0	2.5	1525	$1,649	$1.08	25d	1	0.36mi
11737 Davalos Ln San Antonio, TX	3.0	2.0	1514	$1,625	$1.07	0d	1	0.37mi
11737 Davalos Ln San Antonio, TX	3.0	2.0	1514	$1,625	$1.07	45d	1	0.37mi
11824 Luckey Fls San Antonio, TX	4.0	2.5	2239	$1,796	$0.80	14d	1	0.39mi
11742 Davalos Ln San Antonio, TX	3.0	2.0	1525	$1,600	$1.05	45d	1	0.40mi
11811 Wolf Cyn San Antonio, TX	4.0	2.0	1893	$1,725	$0.91	45d	1	0.43mi
11753 Alcoser Ct San Antonio, TX	4.0	2.0	1792	$1,589	$0.89	23d	1	0.44mi
12118 Luckey Vw San Antonio, TX	3.0	2.0	1404	$1,545	$1.10	45d	1	0.48mi
10829 Emerick St San Antonio, TX	3.0	2.5	1344	$1,700	$1.26	25d	1	0.48mi
10858 Quinn Ct San Antonio, TX	2.0–5.0	2.0–3.5	1733	$2,067	$1.19	0d	1	0.50mi
10843 Emerick St San Antonio, TX	4.0	2.5	2400	$2,300	$0.96	6d	1	0.51mi
12119 Luckey Vw San Antonio, TX	3.0	2.5	1652	$1,595	$0.97	3d	1	0.51mi
12014 Latour Vly San Antonio, TX	3.0	2.5	1428	$1,469	$1.03	5d	1	0.51mi
10834 Quinn Ct San Antonio, TX	3.0	2.5	1344	$1,800	$1.34	45d	1	0.52mi
6519 Luckey Sq San Antonio, TX	3.0	2.0	1404	$1,550	$1.10	6d	1	0.52mi
11803 Claudette St San Antonio, TX	3.0	2.5	1420	$1,595	$1.12	45d	1	0.58mi
6175 Texas Cyn San Antonio, TX	1.0–4.0	1.0–2.0	1056	$1,357	$1.28	25d	1	0.62mi
7216 Jebson Pass San Antonio, TX	4.0	3.5	2205	$5,200	$2.36	0d	1	0.63mi
7204 Jebson Pass San Antonio, TX	4.0	2.0	2202	$1,900	$0.86	16d	1	0.63mi
7318 Anchor Cyn San Antonio, TX	3.0	2.0	1525	$1,495	$0.98	16d	1	0.67mi
6528 Dodger Vly San Antonio, TX	4.0	2.0	1822	$1,800	$0.99	45d	1	0.68mi
5702 Wildcat Cyn San Antonio, TX	3.0	2.5	1553	$1,599	$1.03	6d	1	0.69mi
7318 Sharma Vly San Antonio, TX	3.0	2.5	1428	$1,395	$0.98	25d	1	0.69mi
6747 Sabinal San Antonio, TX	3.0	2.5	1455	$1,395	$0.96	5d	1	0.69mi
6747 Sabinal San Antonio, TX	3.0	2.5	1455	$1,395	$0.96	23d	1	0.69mi
7247 Calypso Cyn San Antonio, TX	3.0	2.5	1446	$1,550	$1.07	0d	1	0.71mi
7247 Calypso Cyn San Antonio, TX	3.0	2.5	1446	$1,550	$1.07	25d	1	0.71mi
5722 Wildcat Cyn San Antonio, TX	3.0	2.5	1569	$1,526	$0.97	14d	1	0.72mi
6550 Fledgely Way San Antonio, TX	3.0	2.0	1562	$1,700	$1.09	45d	1	0.74mi
7318 Calypso Cyn San Antonio, TX	3.0	2.0	1516	$1,575	$1.04	45d	1	0.77mi
11487 Coral Cyn San Antonio, TX	3.0	2.5	1553	$1,695	$1.09	25d	1	0.78mi
6528 Chevler Pass San Antonio, TX	3.0	2.0	1455	$1,345	$0.92	45d	1	0.79mi
11922 Lake Parker San Antonio, TX	3.0	2.5	1428	$3,500	$2.45	0d	1	0.82mi
11214 Indian Cyn San Antonio, TX	3.0	2.0	1233	$1,350	$1.09	25d	1	0.84mi
12118 Stratsburg San Antonio, TX	3.0	2.0	1597	$1,750	$1.10	45d	1	0.86mi
12241 Cashton San Antonio, TX	3.0	2.5	1895	$1,975	$1.04	45d	1	0.87mi
12227 Stratsburg San Antonio, TX	3.0	2.5	1895	$1,759	$0.93	25d	1	0.88mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 22 events

1. 2026-06-21
   days on market $213,000 Active 50 DOM
2. 2026-06-18
   days on market $213,000 Active 47 DOM
3. 2026-06-17
   days on market $213,000 Active 46 DOM
4. 2026-06-16
   days on market $213,000 Active 45 DOM
5. 2026-06-15
   days on market $213,000 Active 44 DOM
6. 2026-06-13
   days on market $213,000 Active 42 DOM
7. 2026-06-09
   days on market $213,000 Active 38 DOM
8. 2026-06-08
   days on market $213,000 Active 37 DOM
9. 2026-06-07
   days on market $213,000 Active 36 DOM
10. 2026-06-04
    days on market $213,000 Active 33 DOM
11. 2026-06-03
    days on market $213,000 Active 32 DOM
12. 2026-06-02
    days on market $213,000 Active 31 DOM
13. 2026-06-01
    days on market $213,000 Active 30 DOM
14. 2026-05-31
    days on market $213,000 Active 29 DOM
15. 2026-05-02
    listed $213,000 New 908-char remark
16. 2025-08-11
    historical
17. 2025-07-27
    price $234,999
18. 2025-06-07
    listed $237,000 New
19. 2013-12-27
    soldstatus Sold

    Show marketing remark (327 chars)

    New from LGI Homes: This beautiful new one story home features 4 bedrooms and 2 bathrooms. The kitchen features beautiful wood cabinets and energy efficient appliances. New refrigerator included! Additional features include raised six panel doors, brushed nickel hardware, vaulted ceiling, large master closet and utility room.

20. 2013-11-12
    status Pending

    Show marketing remark (327 chars)

    New from LGI Homes: This beautiful new one story home features 4 bedrooms and 2 bathrooms. The kitchen features beautiful wood cabinets and energy efficient appliances. New refrigerator included! Additional features include raised six panel doors, brushed nickel hardware, vaulted ceiling, large master closet and utility room.

21. 2013-10-09
    price $170,900 Price Change

    Show marketing remark (327 chars)

    New from LGI Homes: This beautiful new one story home features 4 bedrooms and 2 bathrooms. The kitchen features beautiful wood cabinets and energy efficient appliances. New refrigerator included! Additional features include raised six panel doors, brushed nickel hardware, vaulted ceiling, large master closet and utility room.

22. 2013-09-20
    listed $169,900 New

    Show marketing remark (327 chars)

    New from LGI Homes: This beautiful new one story home features 4 bedrooms and 2 bathrooms. The kitchen features beautiful wood cabinets and energy efficient appliances. New refrigerator included! Additional features include raised six panel doors, brushed nickel hardware, vaulted ceiling, large master closet and utility room.

ⓘ 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: $5,381 · $448/mo
• Projected year-2 tax: $5,381 · $448/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 24 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,930
• − Mortgage interest: −$11,931
• − Property taxes: −$5,381
• − Insurance: −$1,065
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$480
• − Depreciation: −$6,196
• Taxable loss: −$7,473
• Est. tax savings @ 24.0%: +$1,793
• After-tax cash flow: $-2,002/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: Southwest ISD
• NCES district ID: 4840950
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $43,362
• Composite: 22.22/100
• National rank: #8153
• State rank: #701 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

• County: Bexar County · 1,990,555 people
• City population: 1,806,925
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 21,790
• Household income: $85,518
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 152.0

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 (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 29% White 17% Black 8% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 61% Puerto Rican 1%
• Common ancestry: Hispanic 2% Lithuanian 1% German 1%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 58% English-only · Spanish 38% Tagalog/Filipino 2% 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: ▬ -0.00%
• Current HPI: 183.6413
• Rent YoY: ▼ -1.67%
• 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

+25.4% since first listed

8 events — show timeline

• 2026-05-02 Listed $213,000 LERA
• 2025-08-11 Listing Removed — LERA
• 2025-07-27 Price Changed $234,999 LERA
• 2025-06-07 Listed $237,000 LERA
• 2013-12-27 Sold (MLS) — LERA
• 2013-11-12 Pending — LERA
• 2013-10-09 Price Changed $170,900 LERA
• 2013-09-20 Listed $169,900 LERA

Property tax history

+3.2%/yr

Latest (2025): $5,381 · +1.2% YoY. Source: county tax records.