10603 Red Shiner Run · San Antonio, TX 78224

$243,999

4 bd · 3.0 ba · 2,370 sqft · SingleFamily · 197 Days on market

Built 2025 Good condition 4,791 sqft lot $103/sqft · 5% below area Est $257k · 5% under $20/mo HOA · 1% of rent ↓ 18% 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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +9.9/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.1/10.0
• DSCR +2.8/10.0
• Rent growth +2.7/5.0
• Schools +2.2/10.0

Listing remarks MLS

The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Covered patio
• 4,791 sq ft lot

Tags

• OPEN-CONCEPT FLOORPLAN
• COVERED PATIO
• SPA-INSPIRED BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $244k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (19.3% below list).
• Recommended offer: $197k (19.3% below list) — sets the bar for 1% rule.
• 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.

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.
• 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.
• Market conditions: Rents flat; 276 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 39% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $52k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $196,973 (19.3% 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 197 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.81% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.64%
• DSCR: 0.88
• GRM: 10.3

CMA / ARV

• ARV (median comp): $257,499
• List price: $243,999
• Delta: -5.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10615 Red Shiner Run	0.03mi	4/3.0	2,370 (0%)	1mo	$272,999	$115	98
10622 Marlin Pond	0.05mi	4/3.0	2,370 (0%)	1mo	$271,999	$115	97
10602 Red Shiner Run	0.03mi	4/3.0	2,202 (-7%)	1mo	$266,999	$121	86
2222 Dry Moss Way	0.29mi	4/2.5	2,382 (+0%)	1mo	$254,999	$107	83
1422 Caceres Spur	0.24mi	4/3.0	2,288 (-4%)	1mo	$302,999	$132	82
10311 Bluegill Way	0.18mi	4/3.0	2,202 (-7%)	1mo	$269,999	$123	79
10710 Marlin Pond	0.09mi	4/2.0	2,193 (-8%)	1mo	$252,999	$115	79
2306 Crisp Gln	0.43mi	4/2.5	2,260 (-5%)	1mo	$319,990	$142	69
9942 Hunters Pond	0.49mi	4/2.5	2,251 (-5%)	1mo	$329,999	$147	66
1126 Thiele St	0.45mi	4/3.0	2,606 (+10%)	1mo	$659,900	$253	62
10323 Liberty Grv	0.64mi	4/2.5	2,111 (-11%)	1mo	$306,255	$145	50
10054 Mitra	0.62mi	3/2.5 (-1)	2,157 (-9%)	1mo	$359,990	$167	49

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

Projected returns pro-forma

10.0% appreciation · 0.83% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.74×
• Total profit: $119,158
• Equity at exit: $219,814

10-year hold

• IRR: 19.1%
• Equity multiple: 6.13×
• Total profit: $350,698
• Equity at exit: $474,036

Cash invested: $68,320 (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 78224

• Home prices YoY: 12.4%
• Rents YoY: 0.8%
• Active inventory: 276
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$1,280
• Tax est. 1.5%: −$305 /mo · $3,660/yr
• Insurance: −$102
• HOA: −$20
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-150

Break-even live

Break-even rent $2,160

Max offer price $222,274

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-66	+0% $-150	+5% $-234	+10% $-319
Rent	-10% $-306	-5% $-228	+0% $-150	+5% $-72	+10% $5
Rate	-1.0pp $-27	-0.5pp $-88	base $-150	+0.5pp $-213	+1.0pp $-278

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: $61,000
• Closing costs: $7,320
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10523 Goose Way San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.12mi
10723 Goose Way San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.17mi
10710 Butterfly Pass San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.18mi
10719 Butterfly Pass San Antonio, TX	3.0	2.5	1645	$1,640	$1.00	44d	1	0.22mi
10723 Butterfly Pass San Antonio, TX	4.0	2.5	1687	$1,675	$0.99	44d	1	0.22mi
10811 Soupe CV San Antonio, TX	4.0	2.5	2173	$1,995	$0.92	4d	1	0.24mi
1347 Neria LOOP San Antonio, TX	4.0	2.5	2173	$1,699	$0.78	44d	1	0.24mi
2222 Fishing Trl San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	25d	1	0.30mi
2226 Fishing Trl San Antonio, TX	3.0	2.5	1777	$1,650	$0.93	25d	1	0.31mi
2230 Fishing Trl San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	25d	1	0.32mi
2107 Bigmouth Rod San Antonio, TX	3.0	2.5	1777	$1,675	$0.94	44d	1	0.32mi
2111 Bigmouth Rod San Antonio, TX	4.0	2.5	1917	$1,700	$0.89	44d	1	0.32mi
2115 Bigmouth Rod San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	44d	1	0.33mi
2235 Fishing Trl San Antonio, TX	4.0	2.5	1847	$1,755	$0.95	44d	1	0.34mi
2242 Fishing Trl San Antonio, TX	4.0	2.5	1917	$1,785	$0.93	44d	1	0.35mi
2307 Applewhite Mdw San Antonio, TX	4.0	2.5	1798	$1,750	$0.97	44d	1	0.44mi
1451 Neria Loop Unit 3 San Antonio, TX	4.0	3.0	1867	$700	$0.37	13d	1	0.45mi
2318 Applewhite Mdw San Antonio, TX	4.0	2.5	1798	$1,795	$1.00	25d	1	0.46mi
10807 Bernal Cv San Antonio, TX	4.0	2.0	1575	$1,700	$1.08	17d	1	0.47mi
10823 Bernal Cv San Antonio, TX	4.0	2.0	1600	$2,000	$1.25	2d	1	0.47mi
10611 Vesta Curv San Antonio, TX	4.0	2.0	1627	$1,735	$1.07	5d	1	0.47mi
10622 Vesta Curv San Antonio, TX	4.0	2.0	1627	$1,725	$1.06	5d	1	0.50mi
2343 Applewhite Mdw San Antonio, TX	4.0	2.5	1798	$1,795	$1.00	25d	1	0.51mi
10151 Asta Trl San Antonio, TX	4.0	2.0	1625	$1,650	$1.02	13d	1	0.61mi
1407 Mira Ml San Antonio, TX	4.0	2.0	1600	$2,000	$1.25	17d	1	0.61mi
2434 Dry Moss Way San Antonio, TX	4.0	2.5	2417	$2,500	$1.03	2d	1	0.61mi
10135 Ana Hts San Antonio, TX	4.0	2.0	1952	$2,200	$1.13	2d	1	0.67mi
10107 Kersey Ml San Antonio, TX	4.0	2.0	1628	$1,695	$1.04	25d	1	0.68mi
10031 Kersey Ml San Antonio, TX	4.0	2.5	1950	$1,895	$0.97	2d	1	0.70mi
10258 Asta Trl San Antonio, TX	4.0	2.0	1625	$1,590	$0.98	17d	1	0.76mi
10834 Saleh Cor San Antonio, TX	4.0	4.0	2908	$3,250	$1.12	2d	1	0.79mi

HOA detail

• Monthly dues: $20 · $240/yr

Listing history 11 events

1. 2026-06-01
   days on market $243,999 Active 197 DOM
2. 2026-05-31
   days on market $243,999 Active 196 DOM
3. 2026-05-20
   price $243,999 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

4. 2026-05-19
   status Back on Market 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

5. 2026-05-09
   status Pending 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

6. 2026-05-05
   price $273,999 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

7. 2026-04-17
   price $293,999 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

8. 2025-12-23
   price $295,999 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

9. 2025-11-23
   price $301,999 500-char remark

   Show marketing remark (500 chars)

   The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

10. 2025-11-12
    price $305,999 500-char remark

    Show marketing remark (500 chars)

    The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

11. 2025-11-06
    listed $295,999 New 500-char remark

    Show marketing remark (500 chars)

    The Cumberland- The second floor of this new two-story home is host to a flexible and spacious game room, great for entertaining and hosting. Off the foyer are three secondary bedrooms, leading to an inviting open-concept floorplan with access to a covered patio. The luxe owner's suite is tucked into a private rear corner on the first floor, complete with a spa-inspired bathroom and walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

ⓘ 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: $23,637
• − Mortgage interest: −$13,668
• − Property taxes: −$3,660
• − Insurance: −$1,220
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − HOA: −$240
• − Depreciation: −$7,098
• Taxable loss: −$6,031
• Est. tax savings @ 24.0%: +$1,447
• After-tax cash flow: $-354/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 None rehab

This well-maintained single-family home with a good condition score and modern updates is ready for immediate occupancy and can be further enhanced with minor cosmetic upgrades.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring in the bathrooms — Modern flooring can improve the look and feel of the bathrooms.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the bathrooms — Modern flooring can improve the look and feel of the bathrooms. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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): 22,232
• Household income: $59,891
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 721.0

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 (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 24% White 6% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 44% English-only · Spanish 55% Chinese 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: ▲ 29.95%
• Current HPI: 272.0709
• Rent YoY: ▲ 0.83%
• 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

-17.6% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $243,999 LERA
• 2026-05-19 Relisted — LERA
• 2026-05-09 Pending — LERA
• 2026-05-05 Price Changed $273,999 LERA
• 2026-04-17 Price Changed $293,999 LERA
• 2025-12-23 Price Changed $295,999 LERA
• 2025-11-23 Price Changed $301,999 LERA
• 2025-11-12 Price Changed $305,999 LERA
• 2025-11-06 Listed $295,999 LERA