2648 War Admiral · Schertz, TX 78108-2337

$190,000

3 bd · 2.5 ba · 1,887 sqft · SingleFamily public records · 14 Days on market

Built 2009 6,098 sqft lot Est $292k · 35% under $13/mo HOA · 1% of rent

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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 +18.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.0/10.0
• DSCR +5.6/10.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Brand new DR Horton home in Belmont Park. Plan 1889 " The Newcomb" Extra privacy on this greenbelt homesite. This home features ceramic tile in all wet areas, garden tub with separate shower, covered patio, kitchen island, upgraded appliances, and great landscaping package. Belmont Park amenities include Swimming pool and playground. Excellent schools!!!

Key facts

• Open floor plan
• Community pool
• Spacious kitchen

Tags

• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• TWO LIVING AREAS
• COMMUNITY POOL
• COMMUNITY PARK
• HIGHLY REGARDED ISD

Property features AI

Finance

• Other: Subdivision: Belmont Park (Belmont Park Unit #9)
• HOA & community: Mandatory HOA; HOA fee $38 quarterly; Association transfer fee $175

Exterior

• Parking: Attached 2-car garage
• Security: Owned security system; Smoke alarm
• Utilities: Water system; Sewer system; Electric power (electric heat and electric water heater)
• Home design: Pre-owned home built by DR HORTON (approximately 17 years old); Brick and cement fiber exterior; Facing direction not specified; Entry level not specified
• Construction: Composition roof; Slab foundation
• Exterior features: Pool in community; Park/playground in community; Jogging trails in community

Interior

• Kitchen: Island kitchen; Eat-in kitchen; Walk-in pantry; Stove/Range; Dishwasher; Disposal
• Bedrooms: Master bedroom on upper level with walk-in closet, ceiling fan, and full bath (16 x 13); Bedroom 2 (12 x 10); Bedroom 3 (12 x 10)
• Flooring: Carpeting; Ceramic tile flooring
• Bathrooms: 2 full baths and 1 half bath; Master bath with separate tub and shower and garden tub (9 x 9)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Washer and dryer connections; Disposal; Dishwasher; Stove/Range; Smoke alarm; Owned security system; Electric water heater; 2 living areas; Separate dining room; Eat-in kitchen with island; Walk-in pantry; Game room; Utility room inside; Cable TV available; High-speed internet; Some window coverings remain
• Laundry & utility: Washer connection; Dryer connection; Utility room inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 7.3% vs local median 2.8% in Schertz — 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 73/100 on livability (#198 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Schertz-Cibolo-U City ISD (suburban): math 49% / reading 48% proficiency, ranked #152 of 826 in TX (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Green Valley El (math 41% / reading 45%, grade F, #1,283 of 4,322 statewide, top 30%, 587 students, 35% FRL); Byron P Steele Ii H S (math 68% / reading 66%, grade B, #163 of 1,632 statewide, top 11%, 2,716 students, 25% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,064 units permitted in Guadalupe County in 2024 (133 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Guadalupe County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $292,485
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
569 Foxford Run Dr	0.27mi	3/2.5	1,928 (+2%)	7mo	$243,900	$127	78
2617 Crusader	0.23mi	3/2.0	1,745 (-8%)	2mo	$269,900	$155	73
2713 Sterling	0.07mi	3/2.0	1,765 (-6%)	14mo	$279,900	$159	73
2828 Ashwood	0.29mi	3/2.0	1,947 (+3%)	9mo	$320,000	$164	71
2512 Sir Barton Bay Dr	0.38mi	3/2.5	1,928 (+2%)	9mo	$255,000	$132	71
2640 War Admiral	0.02mi	3/2.5	2,147 (+14%)	12mo	$275,000	$128	66
2541 Hourless Oaks	0.37mi	3/2.0	1,985 (+5%)	11mo	$315,000	$159	63
2817 Cheney Rd	0.27mi	3/2.0	1,628 (-14%)	1mo	$270,000	$166	62
714 Secretariat	0.21mi	3/2.5	2,152 (+14%)	11mo	$315,000	$146	58
2820 Mineral Spgs	0.41mi	3/2.0	2,092 (+11%)	5mo	$350,000	$167	57
520 Foxford Run Dr	0.33mi	3/2.5	2,152 (+14%)	8mo	$310,000	$144	55
2977 Ashwood	0.56mi	3/2.5	2,114 (+12%)	3mo	$296,000	$140	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.63×
• Total profit: $33,449
• Equity at exit: $85,432

10-year hold

• IRR: 13.2%
• Equity multiple: 2.97×
• Total profit: $104,700
• Equity at exit: $131,661

Cash invested: $53,200 (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 78108-2337

• Active inventory: 1
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$996
• Tax from tax record: −$405 /mo · $4,858/yr
• Insurance: −$79
• HOA: −$13
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $164

Break-even live

Break-even rent $1,890

Max offer price $190,000

Occupancy floor 87%

Sensitivity live

Price	-10% $271	-5% $217	+0% $164	+5% $110	+10% $56
Rent	-10% $-2	-5% $81	+0% $164	+5% $246	+10% $329
Rate	-1.0pp $259	-0.5pp $212	base $164	+0.5pp $114	+1.0pp $64

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
571 American Flag Schertz, TX	3.0	2.5	2380	$2,200	$0.92	23d	1	0.13mi
741 Clearbrook Ave Schertz, TX	4.0	2.0	2259	$2,195	$0.97	25d	1	0.37mi
18508 Ripps Kreusler Schertz, TX	1.0–3.0	1.0–2.5	1061	$2,499	$2.36	2d	55	0.87mi
3401 Charleston Ln Cibolo, TX	4.0	3.0	2403	$2,995	$1.25	25d	1	1.08mi
3406 Sherwin Dr Schertz, TX	3.0	2.5	1819	$1,950	$1.07	25d	1	1.08mi
3410 Sherwin Dr Schertz, TX	3.0	2.5	2329	$1,850	$0.79	4d	1	1.09mi
125 Creek Run Cibolo, TX	4.0	2.5	2550	$1,850	$0.73	25d	1	1.10mi
204 N Willow Way Cibolo, TX	3.0	2.0	1724	$1,750	$1.02	5d	1	1.15mi
428 Kings Way Cibolo, TX	4.0	2.0	1730	$2,099	$1.21	25d	1	1.15mi
4909 Tiffany Ln Schertz, TX	3.0	2.0	1434	$1,629	$1.14	25d	1	1.17mi
920 Foxbrook Way Cibolo, TX	4.0	3.0	2403	$2,350	$0.98	25d	1	1.17mi
3438 Columbia Dr Cibolo, TX	3.0	2.5	2312	$1,970	$0.85	44d	1	1.20mi
224 Willow Crst Cibolo, TX	3.0	2.5	2275	$1,750	$0.77	25d	1	1.24mi
325 Cortijo Cibolo, TX	4.0	2.0	2080	$2,350	$1.13	5d	1	1.31mi
117 Hanging Moss Cibolo, TX	4.0	2.5	2401	$1,700	$0.71	5d	1	1.33mi
117 Foxglove Pass Cibolo, TX	3.0	2.5	2396	$1,950	$0.81	25d	1	1.36mi
3301 Orth Ave Schertz, TX	3.0	2.0	1654	$2,200	$1.33	3d	1	1.42mi
144 S Willow Way Cibolo, TX	3.0	2.0	1658	$1,735	$1.05	21d	1	1.47mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: landscapingpool

Listing history 14 events

1. 2026-05-17
   status Pending
2. 2026-05-05
   historical Active Option
3. 2026-05-02
   listed $190,000 New
4. 2025-04-07
   historical $1,795
5. 2025-04-05
   listed $1,795
6. 2025-03-15
   historical $1,795
7. 2025-02-03
   price $1,795
8. 2024-12-03
   listed $1,825
9. 2010-07-13
   soldstatus 366-char remark

   Show marketing remark (388 chars)

   This advertised sales price may have been adjusted to include the builder incentive available & as a result the sales price would be FIRM. Prior to signing a sales contract - all Pricing, Plans, Features, Options, & Availability are all subject to change w/o notice. Additional restrictions may apply. Please contact a D.R. Horton Sales Counselor TODAY for more exciting details!

10. 2010-07-13
    soldstatus 388-char remark

    Show marketing remark (388 chars)

    This advertised sales price may have been adjusted to include the builder incentive available & as a result the sales price would be FIRM. Prior to signing a sales contract - all Pricing, Plans, Features, Options, & Availability are all subject to change w/o notice. Additional restrictions may apply. Please contact a D.R. Horton Sales Counselor TODAY for more exciting details!

11. 2010-06-13
    historical 366-char remark

    Show marketing remark (366 chars)

    Brand new DR Horton home in Belmont Park. Plan 1889 " The Newcomb" Extra privacy on this greenbelt homesite. This home features ceramic tile in all wet areas, garden tub with separate shower, covered patio, kitchen island, upgraded appliances, and great landscaping package. Belmont Park amenities include Swimming pool and playground. Excellent schools!!!

12. 2010-06-11
    historical 388-char remark

    Show marketing remark (388 chars)

    This advertised sales price may have been adjusted to include the builder incentive available & as a result the sales price would be FIRM. Prior to signing a sales contract - all Pricing, Plans, Features, Options, & Availability are all subject to change w/o notice. Additional restrictions may apply. Please contact a D.R. Horton Sales Counselor TODAY for more exciting details!

13. 2010-01-19
    listed $187,726 388-char remark

    Show marketing remark (388 chars)

    This advertised sales price may have been adjusted to include the builder incentive available & as a result the sales price would be FIRM. Prior to signing a sales contract - all Pricing, Plans, Features, Options, & Availability are all subject to change w/o notice. Additional restrictions may apply. Please contact a D.R. Horton Sales Counselor TODAY for more exciting details!

14. 2009-10-09
    listed $187,726 366-char remark

    Show marketing remark (366 chars)

    Brand new DR Horton home in Belmont Park. Plan 1889 " The Newcomb" Extra privacy on this greenbelt homesite. This home features ceramic tile in all wet areas, garden tub with separate shower, covered patio, kitchen island, upgraded appliances, and great landscaping package. Belmont Park amenities include Swimming pool and playground. Excellent schools!!!

ⓘ 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: $4,858 · $405/mo
• Projected year-2 tax: $4,858 · $405/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 6 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,169
• − Mortgage interest: −$10,643
• − Property taxes: −$4,858
• − Insurance: −$950
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − HOA: −$156
• − Depreciation: −$5,527
• Taxable loss: −$992
• Est. tax savings @ 24.0%: +$238
• After-tax cash flow: $2,201/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: Schertz-Cibolo-U City ISD
• NCES district ID: 4839480
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $75,790
• Composite: 44.02/100
• National rank: #2886
• State rank: #152 of 826 in TX

Livability — Schertz

• Score: 73/100
• State rank: #198
• US rank: #5013

Category grades

Amenities F Commute F Cost of living A Crime A Employment A+ Housing A+ Health & safety D+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schertz, TX

Population outlook (Guadalupe County) Hauer SSP2

• Today (2025): 196,854 people
• By 2030: 220,210 · +11.9%
• By 2040: 268,004 · +36.1%
• By 2050: 316,333 · +60.7%
• By 2075: 434,747 · +120.8%
• By 2100: 520,447 · +164.4%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+1.2% since first listed

14 events — show timeline

• 2026-05-17 Pending — LERA
• 2026-05-05 Contingent — LERA
• 2026-05-02 Listed $190,000 LERA
• 2025-04-07 Rental Removed $1,795 APPFOLIO
• 2025-04-05 Listed for Rent $1,795 APPFOLIO
• 2025-03-15 Rental Removed $1,795 APPFOLIO
• 2025-02-03 Price Changed $1,795 APPFOLIO
• 2024-12-03 Listed for Rent $1,825 APPFOLIO
• 2010-07-13 Sold (MLS) — LERA
• 2010-07-13 Sold (MLS) — LERA
• 2010-06-13 Listing Removed — LERA
• 2010-06-11 Listing Removed — LERA
• 2010-01-19 Listed $187,726 LERA
• 2009-10-09 Listed $187,726 LERA

Property tax history

+0.5%/yr

Latest (2026): $4,858 · +1.5% YoY. Source: county tax records.