1618 Lennon · San Antonio, TX 78223

$54,900

1 bd · 1.0 ba · 740 sqft · SingleFamily public records · 130 Days on market

Built 1920 5,052 sqft lot $74/sqft · 58% below area ↓ 24% since listing

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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
• ARV discount +7.5/15.0
• 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

Investor Special! Full-rehab opportunity this existing structure requires a complete renovation from top to bottom and is being sold AS-IS. Property offers strong value-add potential for investors, flippers, or builders looking for a project. Convenient location with easy access to major roads, downtown, and surrounding amenities. Cash or hard money only. No repairs will be made by seller. PLEASE USE CAUTION WHEN ENTERING.

Key facts

• Complete renovation
• Convenient location
• 5,052 sq ft lot

Tags

• FULL REHAB OPPORTUNITY
• COMPLETE RENOVATION
• STRONG VALUE ADD POTENTIAL
• CONVENIENT LOCATION
• EASY ACCESS TO MAJOR ROADS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($949 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1920 — 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 $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1920 — 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: 1.73% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.19%
• DSCR: 1.99
• GRM: 4.8

CMA / ARV

• ARV (median comp): $131,942
• List price: $54,900
• Delta: -58.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Monticello	0.16mi	2/1.0 (+1)	848 (+15%)	10mo	$90,000	$106	55
3714 S Olive St	0.49mi	2/1.0 (+1)	780 (+5%)	12mo	$149,900	$192	53
610 Mebane St	0.51mi	2/1.0 (+1)	772 (+4%)	20mo	$150,000	$194	47
112 Christine Dr	0.57mi	2/1.0 (+1)	780 (+5%)	22mo	$130,000	$167	41
334 Fairview	0.73mi	2/1.0 (+1)	832 (+12%)	12mo	$130,000	$156	30

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: 11.1%
• Equity multiple: 1.42×
• Total profit: $6,497
• Equity at exit: $8,186

10-year hold

• IRR: 17.3%
• Equity multiple: 2.20×
• Total profit: $18,498
• Equity at exit: $4,747

Cash invested: $15,372 (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: 4.8×

Monthly cashflow live

• Estimated rent: $949 high
• Mortgage (P&I): −$288
• Tax from tax record: −$155 /mo · $1,855/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $284

Break-even live

Break-even rent $589

Max offer price $54,900

Occupancy floor 65%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
927 Vfw Blvd San Antonio, TX	1.0–3.0	1.0–2.0	937	$899	$0.96	3d	28	0.28mi
204 E Dullnig Ct San Antonio, TX	1.0	1.0	500	$800	$1.60	44d	1	0.34mi
204 E Dullnig Ct Unit 3 San Antonio, TX	1.0	1.0	550	$750	$1.36	18d	1	0.34mi
204 E Dullnig Ct Unit 20 San Antonio, TX	2.0	1.0	750	$950	$1.27	22d	1	0.34mi
2914 Roosevelt Ave San Antonio, TX	1.0–3.0	1.0–2.0	868	$1,073	$1.24	44d	1	0.55mi
2450 Roosevelt Ave San Antonio, TX	1.0	1.0	645	$1,442	$2.23	44d	8	0.78mi
4115 S Presa St San Antonio, TX	1.0	1.0	700	$795	$1.14	44d	1	0.94mi
4115 S Presa St Unit 2 San Antonio, TX	1.0	1.0	700	$749	$1.07	15d	1	0.94mi
7200 S Presa St San Antonio, TX	1.0–2.0	1.0–1.5	819	$830	$1.01	3d	6	1.22mi
810 Haggin St San Antonio, TX	1.0	1.0	500	$1,200	$2.40	44d	1	1.30mi
4622 Clark Ave San Antonio, TX	1.0–4.0	1.0–2.0	859	$1,021	$1.19	44d	1	1.42mi

Listing history 24 events

1. 2026-06-18
   days on market $54,900 Active 130 DOM
2. 2026-06-17
   days on market $54,900 Active 129 DOM
3. 2026-06-16
   days on market $54,900 Active 128 DOM
4. 2026-06-15
   days on market $54,900 Active 127 DOM
5. 2026-06-13
   days on market $54,900 Active 125 DOM
6. 2026-06-09
   days on market $54,900 Active 121 DOM
7. 2026-06-08
   days on market $54,900 Active 120 DOM
8. 2026-06-07
   days on market $54,900 Active 119 DOM
9. 2026-06-04
   days on market $54,900 Active 116 DOM
10. 2026-06-03
    days on market $54,900 Active 115 DOM
11. 2026-06-02
    days on market $54,900 Active 114 DOM
12. 2026-06-01
    statusdays on market $54,900 Active 113 DOM
13. 2026-05-31
    days on market $54,900 Price Change 112 DOM
14. 2026-02-08
    listed $60,000 New 426-char remark

    Show marketing remark (426 chars)

    Investor Special! Full-rehab opportunity this existing structure requires a complete renovation from top to bottom and is being sold AS-IS. Property offers strong value-add potential for investors, flippers, or builders looking for a project. Convenient location with easy access to major roads, downtown, and surrounding amenities. Cash or hard money only. No repairs will be made by seller. PLEASE USE CAUTION WHEN ENTERING.

15. 2020-01-06
    historical
16. 2019-12-17
    price $54,900
17. 2019-10-25
    price $59,000
18. 2019-10-24
    price $61,900
19. 2019-09-30
    price $64,900
20. 2019-09-07
    price $69,999
21. 2019-08-12
    price $74,000
22. 2019-07-29
    listed $79,000 New
23. 2019-07-01
    soldstatus
24. 1976-04-01
    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: $1,855 · $155/mo
• Projected year-2 tax: $1,855 · $155/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 · 22 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: $11,387
• − Mortgage interest: −$3,075
• − Property taxes: −$1,855
• − Insurance: −$274
• − Repairs & maintenance: −$911
• − Management: −$911
• − Depreciation: −$1,597
• Taxable income: $2,763
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $2,748/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

-24.1% since first listed

11 events — show timeline

• 2026-02-08 Listed $60,000 LERA
• 2020-01-06 Listing Removed — LERA
• 2019-12-17 Price Changed $54,900 LERA
• 2019-10-25 Price Changed $59,000 LERA
• 2019-10-24 Price Changed $61,900 LERA
• 2019-09-30 Price Changed $64,900 LERA
• 2019-09-07 Price Changed $69,999 LERA
• 2019-08-12 Price Changed $74,000 LERA
• 2019-07-29 Listed $79,000 LERA
• 2019-07-01 Sold (Public Records) — Public Records
• 1976-04-01 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,855 · -11.0% YoY. Source: county tax records.