231 Harcourt Ave · San Antonio, TX 78223

$135,000

3 bd · 1.0 ba · 1,228 sqft · SingleFamily public records · 65 Days on market

Built 1957 6,899 sqft lot $110/sqft · 26% below area Est $182k · 26% under ↓ 4% since listing

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Why this score? — see what drove the C- 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 +17.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.9/10.0
• DSCR +5.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3-bedroom, 1-bath home full of potential and ready for your personal touch! This property offers a great opportunity for investors, flippers, or buyers looking to customize their dream home. Featuring a functional layout, spacious living area, and solid structure, it’s the perfect canvas for updates and improvements. Situated on a generous lot with ample outdoor space, there’s plenty of room to enhance curb appeal or expand. Conveniently located near major highways, shopping, dining, and schools, this home combines location with opportunity. Whether you’re looking to renovate and resell or create long-term rental income, this property is priced to sell and packed with potential. Don’t miss your chance to bring your vision to life!

Key facts

• 6,899 sq ft lot
• 2 parking spots
• Built 1957

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 falling (-3.4%/yr); 325 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 65 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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: 1.09% ✓
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• GRM: 7.6

CMA / ARV

• ARV (median comp): $182,179
• List price: $135,000
• Delta: -25.90%
• 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
307 Hatcher	0.24mi	3/1.5	1,160 (-6%)	1mo	$189,000	$163	76
119 Harcourt	0.24mi	3/1.0	1,130 (-8%)	3mo	$104,400	$92	73
270 Gayle Ave	0.35mi	4/1.0 (+1)	1,308 (+6%)	3mo	$55,000	$42	66
203 Galway	0.46mi	3/2.0	1,260 (+3%)	6mo	$155,000	$123	65
342 Killarney	0.59mi	2/1.0 (-1)	1,221 (-1%)	5mo	$185,000	$152	63
3323 Lasses	0.49mi	3/1.0	1,356 (+10%)	0mo	$184,900	$136	60
239 E Palfrey St	0.41mi	4/3.0 (+1)	1,200 (-2%)	7mo	$124,900	$104	58
3323 Lasses	0.49mi	3/1.0	1,356 (+10%)	3mo	$184,900	$136	58
310 Hatcher	0.24mi	3/2.0	1,064 (-13%)	6mo	$179,900	$169	58
322 Anton	0.20mi	2/1.0 (-1)	1,404 (+14%)	8mo	$149,500	$106	55
407 Pickwell	0.52mi	3/2.0	1,044 (-15%)	2mo	$119,000	$114	45
3906 Adair Blf	0.66mi	3/2.0	1,366 (+11%)	2mo	$233,500	$171	45

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: -15.0%
• Equity multiple: 0.48×
• Total profit: $-19,608
• Equity at exit: $20,129

10-year hold

• IRR: -13.4%
• Equity multiple: 0.34×
• Total profit: $-24,997
• Equity at exit: $11,672

Cash invested: $37,800 (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 78223

• Home prices YoY: -16.4%
• Rents YoY: -3.4%
• Active inventory: 325
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$708
• Tax from tax record: −$298 /mo · $3,573/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $102

Break-even live

Break-even rent $1,344

Max offer price $135,000

Occupancy floor 88%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
271 Kate Schenck Ave San Antonio, TX	3.0	2.0	1250	$1,450	$1.16	20d	1	0.12mi
115 Harcourt Ave San Antonio, TX	3.0	1.0	912	$1,500	$1.64	22d	1	0.25mi
2566 Goliad Rd San Antonio, TX	2.0	1.0	600	$1,350	$2.25	4d	20	0.34mi
2566 Goliad Rd San Antonio, TX	1.0–2.0	1.0	600	$1,300	$2.17	24d	23	0.34mi
462 Utopia Ln San Antonio, TX	2.0	1.0	837	$1,215	$1.45	43d	1	0.45mi
7035 Pickwell Dr San Antonio, TX	1.0–3.0	1.0–2.0	953	$1,769	$1.86	3d	32	0.46mi
462 Utopia Ln Unit W248 San Antonio, TX	2.0	1.0	837	$1,239	$1.48	17d	1	0.51mi
114 Killarney Dr San Antonio, TX	3.0	2.0	988	$1,500	$1.52	15d	1	0.53mi
2303 Goliad Rd San Antonio, TX	1.0–2.0	1.0	660	$998	$1.51	1d	6	0.58mi
2011 Dollarhide Ave San Antonio, TX	1.0–2.0	1.0	730	$1,150	$1.58	22d	5	0.61mi
3522 Bob Billa St San Antonio, TX	3.0	2.0	1177	$1,200	$1.02	43d	1	0.70mi
326 Sublett Dr San Antonio, TX	2.0	1.0	912	$1,350	$1.48	24d	1	0.72mi
4011 Anton Dr San Antonio, TX	3.0	2.0	1269	$1,500	$1.18	43d	1	0.76mi
3903 SE Military Dr San Antonio, TX	1.0–3.0	1.0–2.0	942	$1,364	$1.45	22d	10	0.85mi
4103 Freestone St San Antonio, TX	4.0	2.0	1195	$1,800	$1.51	24d	1	1.01mi
7938 City Base Lndg San Antonio, TX	1.0–3.0	1.0–2.0	877	$1,610	$1.83	1d	18	1.03mi
3007 SE Military Dr Unit 710 San Antonio, TX	2.0	2.0	1010	$855	$0.85	3d	1	1.05mi
7818 Shetland Dr Unit 102 San Antonio, TX	3.0	2.5	1225	$1,395	$1.14	22d	1	1.05mi
7818 Shetland Dr Unit 101 San Antonio, TX	3.0	2.5	1225	$1,475	$1.20	43d	1	1.05mi
7818 Shetland Dr San Antonio, TX	3.0	2.5	1380	$1,475	$1.07	43d	2	1.05mi
7818 Shetland Dr San Antonio, TX	3.0	2.5	1380	$1,550	$1.12	24d	2	1.05mi
4622 Clark Ave San Antonio, TX	1.0–4.0	1.0–2.0	859	$1,380	$1.61	43d	1	1.10mi
4155 Freestone St San Antonio, TX	4.0	2.0	1259	$1,495	$1.19	24d	1	1.13mi
4155 Freestone St San Antonio, TX	4.0	2.0	1259	$1,495	$1.19	4d	1	1.13mi
7310 S New Braunfels Ave Unit 710 San Antonio, TX	2.0	2.0	871	$1,132	$1.30	3d	1	1.16mi
3435 E Southcross Blvd San Antonio, TX	1.0–2.0	1.0–2.0	867	$1,254	$1.45	43d	1	1.19mi
4700 Stringfellow Dr San Antonio, TX	2.0	1.0–2.0	904	$922	$1.02	2d	3	1.23mi
4407 Grassland Pass San Antonio, TX	4.0	2.0	1500	$1,597	$1.06	4d	1	1.26mi
6410 S New Braunfels Ave San Antonio, TX	1.0–3.0	1.0–2.0	1017	$1,555	$1.53	3d	21	1.31mi
4442 Grassland Pass San Antonio, TX	4.0	2.0	1492	$1,685	$1.13	4d	1	1.31mi
7910 S New Braunfels Ave San Antonio, TX	1.0–3.0	1.0–2.0	1187	$2,640	$2.22	1d	48	1.31mi
4443 Glades Way San Antonio, TX	3.0	2.0	1450	$1,395	$0.96	43d	1	1.35mi
4534 Zoe Pass San Antonio, TX	4.0	2.0	1492	$1,625	$1.09	24d	1	1.39mi
4534 Zoe Pass San Antonio, TX	4.0	2.0	1492	$1,625	$1.09	20d	1	1.39mi
7803 S New Braunfels Ave Unit 710 Brooks City Base, TX	2.0	2.0	821	$1,227	$1.49	3d	1	1.40mi
3526 Manoway Bay San Antonio, TX	3.0	2.0	1459	$1,700	$1.17	22d	1	1.45mi
768 Avondale Ave Unit 202 San Antonio, TX	3.0	1.5	1050	$1,195	$1.14	3d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 65 DOM
2. 2026-06-17
   days on market $135,000 Active 64 DOM
3. 2026-06-16
   days on market $135,000 Active 63 DOM
4. 2026-06-15
   days on market $135,000 Active 62 DOM
5. 2026-06-13
   days on market $135,000 Active 60 DOM
6. 2026-06-09
   days on market $135,000 Active 56 DOM
7. 2026-06-08
   days on market $135,000 Active 55 DOM
8. 2026-06-07
   days on market $135,000 Active 54 DOM
9. 2026-06-04
   days on market $135,000 Active 51 DOM
10. 2026-06-03
    days on market $135,000 Active 50 DOM
11. 2026-06-02
    days on market $135,000 Active 49 DOM
12. 2026-06-01
    days on market $135,000 Active 48 DOM
13. 2026-05-31
    days on market $135,000 Active 47 DOM
14. 2026-05-12
    price $135,000 780-char remark

    Show marketing remark (780 chars)

    Welcome to this 3-bedroom, 1-bath home full of potential and ready for your personal touch! This property offers a great opportunity for investors, flippers, or buyers looking to customize their dream home. Featuring a functional layout, spacious living area, and solid structure, it’s the perfect canvas for updates and improvements. Situated on a generous lot with ample outdoor space, there’s plenty of room to enhance curb appeal or expand. Conveniently located near major highways, shopping, dining, and schools, this home combines location with opportunity. Whether you’re looking to renovate and resell or create long-term rental income, this property is priced to sell and packed with potential. Don’t miss your chance to bring your vision to life!

15. 2026-04-14
    listed $140,000 Active 780-char remark

    Show marketing remark (780 chars)

    Welcome to this 3-bedroom, 1-bath home full of potential and ready for your personal touch! This property offers a great opportunity for investors, flippers, or buyers looking to customize their dream home. Featuring a functional layout, spacious living area, and solid structure, it’s the perfect canvas for updates and improvements. Situated on a generous lot with ample outdoor space, there’s plenty of room to enhance curb appeal or expand. Conveniently located near major highways, shopping, dining, and schools, this home combines location with opportunity. Whether you’re looking to renovate and resell or create long-term rental income, this property is priced to sell and packed with potential. Don’t miss your chance to bring your vision to life!

ⓘ 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: $3,573 · $298/mo
• Projected year-2 tax: $3,573 · $298/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,677
• − Mortgage interest: −$7,562
• − Property taxes: −$3,573
• − Insurance: −$675
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$3,927
• Taxable loss: −$888
• Est. tax savings @ 24.0%: +$213
• After-tax cash flow: $1,435/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): 58,983
• Household income: $52,088
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 2809.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 28% White 16% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 67%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

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: ▼ -52.06%
• Current HPI: 265.2235
• Rent YoY: ▼ -3.36%
• 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

-3.6% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $135,000 Unlock MLS
• 2026-04-14 Listed $140,000 Unlock MLS

Property tax history

+5.1%/yr

Latest (2025): $3,573 · +10.0% YoY. Source: county tax records.