12307 Course View Dr · San Antonio, TX 78221

$175,000

4 bd · 2.5 ba · 2,342 sqft · Land public records · 261 Days on market

Built 2006 6,664 sqft lot $29/mo HOA · 1% of rent ↓ 12% 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).

• Cash flow +13.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Appreciation +6.0/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Rent growth +0.7/5.0

Listing remarks

Drive out to Mission Del Lago to see this custom stucco home on the golf course. Stained concrete and lots of tile offer a unique beauty. Plenty of space, large kitchen with abundance of cabinets and nice covered patio with course view! Home may need new flooring and some repairs. RESERVE AUCTION PROPERTY- Property sold "AS-IS" without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding. List price is $206,800.

Key facts

• Stained concrete
• Custom stucco home
• Golf course view

Tags

• CUSTOM STUCCO HOME
• GOLF COURSE VIEW
• STAINED CONCRETE
• LARGE KITCHEN
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $175k.

Deal economics

• At list price, monthly cash flow is $-4 ($-50/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (0.4% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: crime F.
• Southside ISD (rural): math 16% / reading 25% proficiency, ranked #771 of 826 in TX (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Julian C Gallardo El (math 13% / reading 22%, grade F, #3,805 of 4,322 statewide, top 89%, 544 students, 87% FRL); Southside H S (math 18% / reading 25%, grade F, #1,377 of 1,632 statewide, top 85%, 1,685 students, 85% FRL).
• Market conditions: Rents falling (-7.2%/yr); 369 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 41% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, 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 261 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask has dropped $154k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% 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 261 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.24% ✓
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.03% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.12×
• Total profit: $5,979
• Equity at exit: $69,294

10-year hold

• IRR: 4.2%
• Equity multiple: 1.53×
• Total profit: $26,123
• Equity at exit: $99,992

Cash invested: $49,000 (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 78221

• Home prices YoY: 0.8%
• Rents YoY: -7.2%
• Active inventory: 369
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$918
• Tax from tax record: −$697 /mo · $8,363/yr
• Insurance: −$73
• HOA: −$29
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-4

Break-even live

Break-even rent $2,173

Max offer price $174,266

Occupancy floor 95%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11723 Faldo Way San Antonio, TX	4.0	3.5	2680	$3,500	$1.31	3d	1	0.24mi
11426 Four Iron Way San Antonio, TX	4.0	2.5	1814	$1,695	$0.93	4d	1	0.43mi
12015 Still Pass San Antonio, TX	4.0	2.0	1635	$1,600	$0.98	20d	1	0.50mi
934 Cook Bnd San Antonio, TX	4.0	2.0	1627	$1,445	$0.89	24d	1	0.51mi
922 Manero Pass San Antonio, TX	4.0	2.5	1950	$1,850	$0.95	24d	1	0.58mi
742 Haas Way San Antonio, TX	4.0	2.0	1699	$2,100	$1.24	18d	1	0.59mi
710 Titleist Cv San Antonio, TX	4.0	2.5	1950	$1,680	$0.86	44d	1	0.67mi
13206 Dutra Rd San Antonio, TX	4.0	2.5	1956	$1,700	$0.87	44d	1	0.91mi
2203 Cielo Rio, Lot 102 San Antonio, TX	2.0–4.0	2.0–2.5	1574	$2,845	$1.81	2d	152	0.95mi
13806 S Strange Way San Antonio, TX	4.0	2.0	1668	$1,795	$1.08	24d	1	1.24mi
9879 Chavaneaux Lndg San Antonio, TX	4.0	2.0	1585	$1,700	$1.07	24d	1	1.26mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 41 events

1. 2026-04-24
   status Pending
2. 2026-04-02
   price $175,000
3. 2026-04-01
   status Back on Market
4. 2026-03-16
   status Pending
5. 2026-02-18
   price $199,000
6. 2026-01-29
   price $205,700
7. 2026-01-13
   price $206,800
8. 2025-12-27
   price $207,900
9. 2025-12-11
   price $209,000
10. 2025-11-25
    price $211,500
11. 2025-11-07
    price $212,600
12. 2025-10-11
    price $213,700
13. 2025-09-22
    price $241,900
14. 2025-09-06
    price $259,200
15. 2025-08-21
    price $286,200
16. 2025-08-07
    price $301,900
17. 2025-07-21
    listed $328,600 New
18. 2025-07-07
    historical
19. 2025-06-18
    listed $397,500 New
20. 2023-08-15
    historical
21. 2023-06-15
    historical
22. 2023-06-14
    status Pending
23. 2023-06-14
    status Pending
24. 2023-06-14
    status Pending
25. 2023-06-14
    historical
26. 2023-06-14
    historical
27. 2023-01-24
    price $330,000
28. 2023-01-24
    price $330,000
29. 2023-01-24
    price
30. 2022-12-15
    price $340,000
31. 2022-12-15
    price $340,000
32. 2022-12-15
    price
33. 2022-11-14
    price $330,000
34. 2022-11-14
    price $340,000
35. 2022-11-11
    listed $330,000
36. 2022-11-11
    listed $350,000 New
37. 2022-11-11
    listed $350,000 Active
38. 2022-11-11
    listed Active
39. 2022-11-11
    listed $350,000 Active
40. 2019-02-14
    historical
41. 2018-12-12
    listed $199,000 New

ⓘ 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: $8,363 · $697/mo
• Projected year-2 tax: $8,363 · $697/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,011
• − Mortgage interest: −$9,803
• − Property taxes: −$8,363
• − Insurance: −$875
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − HOA: −$348
• − Depreciation: −$5,091
• Taxable loss: −$2,630
• Est. tax savings @ 24.0%: +$631
• After-tax cash flow: $581/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: Southside ISD
• NCES district ID: 4840920
• Math proficiency: 16% ▼ -15.00%
• Reading proficiency: 25% ▼ -2.00%
• Median HH income: $43,526
• Composite: 17.68/100
• National rank: #9027
• State rank: #771 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): 42,178
• Household income: $63,811
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1180.0

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 (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 28% White 9% Native American 2%
• Hispanic origin (detail): Mexican 74%
• Common ancestry: Lithuanian 1% Romanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 45% English-only · Spanish 54%

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: ▲ 2.03%
• Current HPI: 251.1635
• Rent YoY: ▼ -7.21%
• 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

-12.1% since first listed

41 events — show timeline

• 2026-04-24 Pending — LERA
• 2026-04-02 Price Changed $175,000 LERA
• 2026-04-01 Relisted — LERA
• 2026-03-16 Pending — LERA
• 2026-02-18 Price Changed $199,000 LERA
• 2026-01-29 Price Changed $205,700 LERA
• 2026-01-13 Price Changed $206,800 LERA
• 2025-12-27 Price Changed $207,900 LERA
• 2025-12-11 Price Changed $209,000 LERA
• 2025-11-25 Price Changed $211,500 LERA
• 2025-11-07 Price Changed $212,600 LERA
• 2025-10-11 Price Changed $213,700 LERA
• 2025-09-22 Price Changed $241,900 LERA
• 2025-09-06 Price Changed $259,200 LERA
• 2025-08-21 Price Changed $286,200 LERA
• 2025-08-07 Price Changed $301,900 LERA
• 2025-07-21 Listed $328,600 LERA
• 2025-07-07 Listing Removed — LERA
• 2025-06-18 Listed $397,500 LERA
• 2023-08-15 Listing Removed — LERA
• 2023-06-15 Listing Removed — HARMLS
• 2023-06-14 Pending — LERA
• 2023-06-14 Pending — Unlock MLS
• 2023-06-14 Pending — CTXMLS
• 2023-06-14 Listing Removed — LERA
• 2023-06-14 Listing Removed — CTXMLS
• 2023-01-24 Price Changed $330,000 HARMLS
• 2023-01-24 Price Changed $330,000 CTXMLS
• 2023-01-24 Price Changed — Unlock MLS
• 2022-12-15 Price Changed $340,000 HARMLS
• 2022-12-15 Price Changed $340,000 CTXMLS
• 2022-12-15 Price Changed — Unlock MLS
• 2022-11-14 Price Changed $340,000 LERA
• 2022-11-14 Price Changed $330,000 LERA
• 2022-11-11 Listed $350,000 LERA
• 2022-11-11 Listed $330,000 LERA
• 2022-11-11 Listed $350,000 CTXMLS
• 2022-11-11 Listed — Unlock MLS
• 2022-11-11 Listed $350,000 HARMLS
• 2019-02-14 Listing Removed — LERA
• 2018-12-12 Listed $199,000 LERA

Property tax history

+3.8%/yr

Latest (2025): $8,363 · +5.6% YoY. Source: county tax records.