1906 Nolan · San Antonio, TX 78202

$50,000

2 bd · 1.0 ba · 708 sqft · SingleFamily public records · 146 Days on market

Built 1940 3,179 sqft lot $71/sqft · 58% below area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Investment Property located on East side of San Antonio, minutes from downtown. Property originally 2 Bedroom, 1 Bath. Property needs complete renovation.

Key facts

• Complete renovation
• Investment property
• 3,179 sq ft lot

Tags

• INVESTMENT PROPERTY
• EAST SIDE OF SAN ANTONIO
• MINUTES FROM DOWNTOWN
• COMPLETE RENOVATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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.
• San Antonio ISD (urban): math 12% / reading 22% proficiency, ranked #805 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 196 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
8. 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.
9. 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: 2.11% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.60%
• DSCR: 2.49
• GRM: 4.0

CMA / ARV

• ARV (median comp): $119,773
• List price: $50,000
• Delta: -58.25%
• 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
118 Eross	0.04mi	2/1.0	624 (-12%)	8mo	$69,900	$112	72
151 Canton	0.50mi	2/1.0	744 (+5%)	2mo	$130,000	$175	66
1038 Paso Hondo	0.49mi	2/1.0	720 (+2%)	13mo	$80,000	$111	63
1823 Gorman	0.70mi	2/1.0	686 (-3%)	2mo	$52,500	$77	60
401 Canton	0.26mi	2/1.0	808 (+14%)	8mo	$65,000	$80	57
1942 Lamar St	0.41mi	2/1.0	768 (+8%)	12mo	$149,950	$195	57
1530 E Crockett St	0.45mi	2/1.0	616 (-13%)	8mo	$145,000	$235	50
2338 Burnet St	0.63mi	3/1.0 (+1)	700 (-1%)	21mo	$119,000	$170	47
510 Muncey	0.74mi	2/1.0	700 (-1%)	21mo	$190,000	$271	46
2222 Osburn	0.72mi	1/1.0 (-1)	748 (+6%)	12mo	$99,900	$134	42
427 Muegge	0.71mi	2/1.0	624 (-12%)	7mo	$70,000	$112	42
1830 Gorman	0.72mi	3/1.5 (+1)	786 (+11%)	6mo	$110,000	$140	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 53.7%
• Equity multiple: 5.13×
• Total profit: $57,838
• Equity at exit: $45,044

10-year hold

• IRR: 49.6%
• Equity multiple: 12.76×
• Total profit: $164,625
• Equity at exit: $97,139

Cash invested: $14,000 (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 78202

• Home prices YoY: 27.0%
• Rents YoY: 8.2%
• Active inventory: 196
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,053 high
• Mortgage (P&I): −$262
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $392

Break-even live

Break-even rent $557

Max offer price $50,000

Occupancy floor 58%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
146 Eross San Antonio, TX	2.0	1.0	696	$900	$1.29	16d	1	0.07mi
1810 Burnet St San Antonio, TX	2.0	1.0	620	$1,045	$1.69	14d	1	0.12mi
710 Poinsettia San Antonio, TX	2.0	1.0	708	$1,195	$1.69	43d	1	0.26mi
1619 Nolan St Unit B San Antonio, TX	2.0	1.0	600	$1,050	$1.75	24d	1	0.26mi
1223 N Walters St Unit 610 San Antonio, TX	1.0	1.0	732	$877	$1.20	3d	1	0.30mi
1017 N Mittman St San Antonio, TX	1.0	1.0	726	$910	$1.25	43d	1	0.31mi
742 Gulf St Unit 746 San Antonio, TX	2.0	1.0	744	$975	$1.31	12d	1	0.34mi
746 Gulf San Antonio, TX	2.0	1.0	744	$975	$1.31	14d	1	0.35mi
1411 Lamar St San Antonio, TX	2.0	1.0	700	$1,125	$1.61	43d	1	0.37mi
1323 Lamar St #3 San Antonio, TX	1.0	1.0	500	$725	$1.45	43d	1	0.41mi
928 Poinsettia St San Antonio, TX	2.0	1.0	675	$990	$1.47	43d	1	0.45mi
308 Belmont San Antonio, TX	1.0	1.0	700	$850	$1.21	24d	1	0.47mi
934 Poinsettia San Antonio, TX	2.0	1.0	625	$995	$1.59	43d	1	0.47mi
936 Poinsettia St San Antonio, TX	2.0	1.0	675	$895	$1.33	14d	1	0.48mi
924 Saint James San Antonio, TX	1.0	1.0	400	$725	$1.81	43d	1	0.48mi
947 Poinsettia San Antonio, TX	1.0	1.0	564	$595	$1.05	43d	1	0.51mi
622 Potomac St San Antonio, TX	1.0	1.0	700	$975	$1.39	43d	1	0.52mi
2023 Beaver Ln San Antonio, TX	1.0	1.0	600	$960	$1.60	43d	1	0.52mi
819 Larry San Antonio, TX	2.0	1.0	688	$1,149	$1.67	43d	1	0.62mi
414 Rotary San Antonio, TX	2.0	1.0	624	$1,095	$1.75	43d	1	0.73mi
418 Rotary San Antonio, TX	3.0	1.0	624	$1,295	$2.08	4d	1	0.73mi
203 Gorman San Antonio, TX	1.0	1.0	578	$745	$1.29	43d	1	0.76mi
1010 Locke St Unit 610 San Antonio, TX	1.0	1.0	715	$731	$1.02	3d	1	0.89mi
628 Sherman Unit 2 San Antonio, TX	1.0	1.0	675	$995	$1.47	43d	1	0.91mi
318 Ferguson Ave Unit 2 San Antonio, TX	1.0	1.0	420	$700	$1.67	22d	1	1.00mi
1218 Wyoming St Unit 1 San Antonio, TX	1.0	1.0	744	$1,299	$1.75	43d	1	1.07mi
822 E Carson St Unit 5 San Antonio, TX	1.0	1.0	577	$800	$1.39	43d	1	1.08mi
111 S Olive St San Antonio, TX	1.0	1.0	481	$749	$1.56	43d	1	1.09mi
111 S Olive St Unit A San Antonio, TX	1.0	1.0	481	$730	$1.52	43d	1	1.09mi
113 S Olive St San Antonio, TX	1.0	1.0	444	$695	$1.57	24d	1	1.09mi
923 E Carson St San Antonio, TX	2.0	1.0–2.0	859	$2,459	$2.86	1d	38	1.09mi
925 E Carson St Unit 610 San Antonio, TX	1.0	1.0	716	$1,421	$1.98	3d	1	1.10mi
813 E Carson St Unit 813-02 San Antonio, TX	1.0	1.0	484	$800	$1.65	43d	1	1.12mi
311 Spriggsdale Ave Unit 610 San Antonio, TX	1.0	1.0	745	$892	$1.20	3d	1	1.17mi
325 S Hackberry St San Antonio, TX	2.0	1.0	621	$1,200	$1.93	12d	1	1.23mi
512 Bee St San Antonio, TX	2.0	1.0	672	$845	$1.26	24d	1	1.27mi
514 Bee St San Antonio, TX	2.0	1.0	672	$895	$1.33	43d	1	1.28mi
1722 N Pine St Unit 2 San Antonio, TX	1.0	1.0	636	$800	$1.26	24d	1	1.30mi
404 E Carson St #2 San Antonio, TX	1.0	1.0	697	$1,625	$2.33	43d	1	1.30mi
515 Clark Ave San Antonio, TX	3.0	2.0	528	$1,250	$2.37	24d	1	1.31mi

Listing history 25 events

1. 2026-06-18
   days on market $50,000 Active 146 DOM
2. 2026-06-17
   days on market $50,000 Active 145 DOM
3. 2026-06-16
   days on market $50,000 Active 144 DOM
4. 2026-06-15
   days on market $50,000 Active 143 DOM
5. 2026-06-13
   days on market $50,000 Active 141 DOM
6. 2026-06-09
   days on market $50,000 Active 137 DOM
7. 2026-06-08
   days on market $50,000 Active 136 DOM
8. 2026-06-07
   days on market $50,000 Active 135 DOM
9. 2026-06-04
   days on market $50,000 Active 132 DOM
10. 2026-06-03
    days on market $50,000 Active 131 DOM
11. 2026-06-02
    statusdays on market $50,000 Active 130 DOM
12. 2026-06-01
    days on market $50,000 Price Change 129 DOM
13. 2026-05-31
    days on market $50,000 Price Change 128 DOM
14. 2026-04-20
    price $55,000 154-char remark

    Show marketing remark (154 chars)

    Investment Property located on East side of San Antonio, minutes from downtown. Property originally 2 Bedroom, 1 Bath. Property needs complete renovation.

15. 2026-04-05
    price $60,000 154-char remark

    Show marketing remark (154 chars)

    Investment Property located on East side of San Antonio, minutes from downtown. Property originally 2 Bedroom, 1 Bath. Property needs complete renovation.

16. 2026-02-05
    soldstatus
17. 2026-01-23
    listed $65,000 New 154-char remark

    Show marketing remark (154 chars)

    Investment Property located on East side of San Antonio, minutes from downtown. Property originally 2 Bedroom, 1 Bath. Property needs complete renovation.

18. 2026-01-18
    historical
19. 2025-11-08
    price $65,000
20. 2025-09-26
    listed $79,900 New
21. 2025-09-09
    historical
22. 2025-05-01
    price $130,000
23. 2025-04-18
    listed $179,000 New
24. 2024-02-22
    soldstatus
25. 2021-05-20
    soldstatus

ⓘ 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: $1,884 · $157/mo
• Projected year-2 tax: $1,884 · $157/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,639
• − Mortgage interest: −$2,801
• − Property taxes: −$1,884
• − Insurance: −$250
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$1,455
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,014
• After-tax cash flow: $3,689/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: San Antonio ISD
• NCES district ID: 4838730
• Math proficiency: 12% ▼ -21.00%
• Reading proficiency: 22% ▼ -7.00%
• Median HH income: $30,952
• Composite: 13.57/100
• National rank: #9512
• State rank: #805 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): 10,224
• Household income: $47,478
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 543.0

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 (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 28% White 17% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 57% Puerto Rican 1% Cuban 1%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 59% English-only · Spanish 41%

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: ▲ 53.82%
• Current HPI: 253.3196
• Rent YoY: ▲ 8.20%
• 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

-69.3% since first listed

12 events — show timeline

• 2026-04-20 Price Changed $55,000 LERA
• 2026-04-05 Price Changed $60,000 LERA
• 2026-02-05 Sold (Public Records) — Public Records
• 2026-01-23 Listed $65,000 LERA
• 2026-01-18 Listing Removed — LERA
• 2025-11-08 Price Changed $65,000 LERA
• 2025-09-26 Listed $79,900 LERA
• 2025-09-09 Listing Removed — LERA
• 2025-05-01 Price Changed $130,000 LERA
• 2025-04-18 Listed $179,000 LERA
• 2024-02-22 Sold (Public Records) — Public Records
• 2021-05-20 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,884 · -1.1% YoY. Source: county tax records.