15024 Azzurro Stone · San Antonio, TX 78112

$185,999

3 bd · 2.0 ba · 1,402 sqft · SingleFamily · 34 Days on market

Built 2026 Excellent condition 4,791 sqft lot $133/sqft · 17% above area Est $160k · 17% over $106/mo HOA · 6% of rent ↓ 4% since listing

---

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 +10.9/30.0
• Condition / age +5.0/5.0
• Appreciation +4.9/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.1/15.0

Listing remarks MLS

The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Secondary bedrooms
• En-suite bathroom

Tags

• OPEN-CONCEPT FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $186k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-81 ($-972/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (10.8% below list).
• Recommended offer: $166k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 442 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• In year one you build about $979 of equity ($1k loan paydown + $-307 appreciation (-0.2% local appreciation)).
• 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 34 days — a 3% lower offer ($180k) is reasonable based on typical stale-listing flexibility.

Recommended offer $165,870 (10.8% 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 34 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.89% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• GRM: 9.3

CMA / ARV

• ARV (median comp): $159,585
• List price: $185,999
• Delta: 16.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6630 Fiore Gdn	0.05mi	3/2.0	1,354 (-3%)	1mo	$188,999	$140	91
6729 Marble Rdg	0.22mi	3/2.5	1,360 (-3%)	0mo	$140,999	$104	82
6844 Marble Rdg	0.22mi	3/2.5	1,360 (-3%)	0mo	$139,999	$103	82
15102 Azzurro Stone	0.02mi	3/2.0	1,266 (-10%)	1mo	$177,999	$141	82
6808 Marble Rdg	0.24mi	3/2.5	1,360 (-3%)	1mo	$143,999	$106	81
6832 Marble Rdg	0.23mi	3/2.5	1,360 (-3%)	2mo	$169,999	$125	81
6820 Marble Rdg	0.23mi	3/2.5	1,360 (-3%)	2mo	$146,999	$108	81
14805 Mudstone Pl	0.19mi	4/2.0 (+1)	1,483 (+6%)	1mo	$177,999	$120	75
15106 Azzurro Stone	0.03mi	4/2.0 (+1)	1,575 (+12%)	1mo	$196,999	$125	72
15103 Azzurro Stone	0.30mi	4/2.0 (+1)	1,483 (+6%)	1mo	$177,999	$120	70
6837 Chert Chase	0.14mi	3/2.0	1,192 (-15%)	0mo	$130,999	$110	68
6813 Chert Chase	0.15mi	3/2.0	1,192 (-15%)	1mo	$136,999	$115	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.77×
• Total profit: $-11,951
• Equity at exit: $52,477

10-year hold

• IRR: 1.1%
• Equity multiple: 1.12×
• Total profit: $6,103
• Equity at exit: $61,871

Cash invested: $52,080 (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 78112

• Home prices YoY: -0.1%
• Active inventory: 442
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$975
• Tax est. 1.5%: −$232 /mo · $2,790/yr
• Insurance: −$77
• HOA: −$106
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-81

Break-even live

Break-even rent $1,761

Max offer price $174,275

Occupancy floor 100%

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: $46,500
• Closing costs: $5,580
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6933 Biotite Rdg San Antonio, TX	3.0	2.0	1125	$1,650	$1.47	10d	1	0.27mi
6933 Calcite Trl San Antonio, TX	4.0	2.0	1606	$1,695	$1.06	12d	1	0.33mi
6948 Calcite Trl San Antonio, TX	3.0	2.0	1440	$1,600	$1.11	1d	1	0.36mi
14606 Hackamore Way Elmendorf, TX	4.0	2.0	1699	$1,700	$1.00	15d	1	1.04mi
14606 Hackamore Way Elmendorf, TX	4.0	2.0	1696	$1,700	$1.00	1d	1	1.04mi
14651 Latigo Loop Elmendorf, TX	4.0	2.0	1696	$1,750	$1.03	1d	1	1.14mi
7663 Stud Dr Elmendorf, TX	3.0	2.0	1233	$1,600	$1.30	1d	1	1.14mi

HOA detail

• Monthly dues: $106 · $1,272/yr

Listing history 4 events

1. 2026-05-13
   price $185,999 544-char remark

   Show marketing remark (544 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

2. 2026-04-30
   price $187,999 544-char remark

   Show marketing remark (544 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

3. 2026-04-22
   price $190,999 544-char remark

   Show marketing remark (544 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

4. 2026-04-17
   listed $192,999 New 544-char remark

   Show marketing remark (544 chars)

   The Kitson- An inviting open-concept floorplan serves as the heart of this single-level home, providing for seamless transitions between the kitchen, dining area and family room. A restful owner's suite is located at the back of home, featuring a comfortable bedroom, en-suite bathroom and walk-in closet. Two secondary bedrooms can be found off the entry. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,904
• − Mortgage interest: −$10,419
• − Property taxes: −$2,790
• − Insurance: −$930
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − HOA: −$1,272
• − Depreciation: −$5,411
• Taxable loss: −$4,102
• Est. tax savings @ 24.0%: +$984
• After-tax cash flow: $12/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.

Condition & rehab AI · 3 photos

Excellent 100/100 None rehab

This single-family home is in excellent condition with no visible repairs or maintenance needed. It offers a good investment opportunity with potential for significant value increases through cosmetic updates and landscaping improvements.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value.
• Both Kitchen and bathroom updates — Modernizing these spaces can significantly boost both resale and rental appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value. ↑
• Both Kitchen and bathroom updates — Modernizing these spaces can significantly boost both resale and rental appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 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

• City population: 1,806,925
• Population (ZIP): 9,959

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 (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 39% White 24% Asian 1%
• Hispanic origin (detail): Mexican 64%
• Common ancestry: Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 57% English-only · Spanish 42% Tagalog/Filipino 1%

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: ▼ -0.17%
• Current HPI: 276.3302
• 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

-3.6% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $185,999 LERA
• 2026-04-30 Price Changed $187,999 LERA
• 2026-04-22 Price Changed $190,999 LERA
• 2026-04-17 Listed $192,999 LERA