11322 Clearmine · San Antonio, TX 78224

$949,000

12 bd · 10.0 ba · 5,448 sqft · MultiFamily · 269 Days on market

Built 2025 $174/sqft · at area comps Est $963k · at est. $33/mo HOA · 2% of rent ↓ 3% 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
• ARV discount +8.2/15.0
• Cash flow +7.6/30.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +2.2/10.0
• DSCR +1.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

Key facts

• High-end finishes
• Garage door opener
• Granite countertops

Tags

• HIGH-END FINISHES
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• VINYL PLANK FLOORING
• GARAGE DOOR OPENER
• PROGRAMMABLE IRRIGATION SYSTEM

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.5-bath units multifamily listed at $949k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-284/mo.
• To cash-flow at today's rent, offer at most $785k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $690k (27.2% below list).
• Recommended offer: $690k (27.2% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.8% in San Antonio — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Spicewood Park El (math 16% / reading 23%, grade F, #3,583 of 4,322 statewide, top 86%, 593 students, 93% 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).
• Market conditions: Rents flat; 275 active listings in the ZIP; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $6,905/mo this rent would consume 138% of the median local household income ($60k/yr) (locally 721% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $101k of equity ($7k loan paydown + $95k 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 ~$163k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($835k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $690,500 (27.2% 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 269 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

• ARV (median comp): $963,401
• List price: $949,000
• Delta: -1.49%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.0%
• Equity multiple: 2.62×
• Total profit: $429,841
• Equity at exit: $854,934

10-year hold

• IRR: 17.9%
• Equity multiple: 5.88×
• Total profit: $1,295,607
• Equity at exit: $1,843,698

Cash invested: $265,720 (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: 275
• Price-to-rent: 45.8×

Monthly cashflow live

• Estimated rent: $6,905 high
• Mortgage (P&I): −$4,977
• Tax est. 1.5%: −$1,186 /mo · $14,235/yr
• Insurance: −$395
• HOA: −$33
• Vacancy / Maint / Mgmt: −$1,450
• Net cashflow: $-1,136

Break-even live

Break-even rent $8,343

Max offer price $784,565

Occupancy floor —

Sensitivity live

Price	-10% $-481	-5% $-808	+0% $-1,136	+5% $-1,464	+10% $-1,792
Rent	-10% $-1,682	-5% $-1,409	+0% $-1,136	+5% $-864	+10% $-591
Rate	-1.0pp $-658	-0.5pp $-895	base $-1,136	+0.5pp $-1,382	+1.0pp $-1,632

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	2.5	$6,904
Total (4 units)			$6,905

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: $237,250
• Closing costs: $28,470
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 24 events

1. 2026-06-21
   days on market $949,000 Active 269 DOM
2. 2026-06-18
   days on market $949,000 Active 266 DOM
3. 2026-06-17
   days on market $949,000 Active 265 DOM
4. 2026-06-16
   days on market $949,000 Active 264 DOM
5. 2026-06-15
   days on market $949,000 Active 263 DOM
6. 2026-06-13
   days on market $949,000 Active 261 DOM
7. 2026-06-09
   days on market $949,000 Active 257 DOM
8. 2026-06-08
   days on market $949,000 Active 256 DOM
9. 2026-06-07
   days on market $949,000 Active 255 DOM
10. 2026-06-04
    days on market $949,000 Active 252 DOM
11. 2026-06-03
    days on market $949,000 Active 251 DOM
12. 2026-06-02
    days on market $949,000 Active 250 DOM
13. 2026-06-01
    days on market $949,000 Active 249 DOM
14. 2026-05-31
    days on market $949,000 Active 248 DOM
15. 2026-04-23
    price $949,000 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

16. 2026-04-04
    status Back on Market 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

17. 2026-03-31
    historical 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

18. 2026-02-22
    price $955,000 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

19. 2026-02-03
    price $965,000 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

20. 2025-12-15
    status Back on Market 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

21. 2025-12-12
    historical 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

22. 2025-11-11
    status Back on Market 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

23. 2025-11-07
    historical 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

24. 2025-09-14
    listed $975,000 New 977-char remark

    Show marketing remark (977 chars)

    Interest rate incentive from three point seven five percent. Palo Alto Cove is a brand-new fourplex community of contemporary Townhomes offering modern comfort and convenience in vibrant South San Antonio. Our residents will enjoy high-end finishes such as granite countertops, stainless steel appliances, vinyl plank flooring, energy-efficient HVAC with a programmable thermostat, garage door openers, a programmable irrigation system, and EV charging plugs. These townhomes offer a perfect blend of luxury and functionality. Major attractions like The Alamo and the iconic Riverwalk are just 15 minutes away. Surrounded by growth and opportunity, Palo Alto Cove is near Texas A&M-San Antonio, Palo Alto College, and recent business expansions such as Toyota Texas, TJ Maxx distribution, JCB manufacturing, and San Antonio's newest University Hospital, all just minutes away. Don't miss out on this fantastic investment opportunity at PALO ALTO COVE in South San Antonio!

ⓘ 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: $82,860
• − Mortgage interest: −$53,159
• − Property taxes: −$14,235
• − Insurance: −$4,745
• − Repairs & maintenance: −$6,629
• − Management: −$6,629
• − HOA: −$396
• − Depreciation: −$27,607
• Taxable loss: −$30,540
• Est. tax savings @ 24.0%: +$7,330
• After-tax cash flow: $-6,307/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

• 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

-2.7% since first listed

10 events — show timeline

• 2026-04-23 Price Changed $949,000 LERA
• 2026-04-04 Relisted — LERA
• 2026-03-31 Listing Removed — LERA
• 2026-02-22 Price Changed $955,000 LERA
• 2026-02-03 Price Changed $965,000 LERA
• 2025-12-15 Relisted — LERA
• 2025-12-12 Listing Removed — LERA
• 2025-11-11 Relisted — LERA
• 2025-11-07 Listing Removed — LERA
• 2025-09-14 Listed $975,000 LERA