423 Hazel · San Antonio, TX 78207

$49,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 439 Days on market

Built 1948 4,704 sqft lot $74/sqft · 48% below area Est $95k · 48% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

Key facts

• 4,704 sq ft lot
• Built 1948
• Listed 439 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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.
• 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 rising fast (+7.7%/yr); 154 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 42% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 7.7% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 439 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $30k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 439 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 2.27% ✓
• Cap rate: 18.77%
• Cash-on-cash: 44.55%
• DSCR: 2.98
• GRM: 3.7

CMA / ARV

• ARV (median comp): $95,311
• List price: $49,900
• Delta: -47.65%
• 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
410 Ceralvo	0.10mi	2/1.0	672 (0%)	7mo	$84,999	$126	89
227 Noria St	0.13mi	2/1.0	696 (+4%)	4mo	$55,000	$79	85
102 Noria	0.20mi	2/1.0	694 (+3%)	2mo	$49,900	$72	84
530 Ceralvo	0.18mi	2/1.0	676 (+1%)	16mo	$65,000	$96	77
350 Madero	0.40mi	2/1.0	674 (+0%)	10mo	$39,900	$59	73
235 Noria St	0.13mi	3/1.0 (+1)	728 (+8%)	4mo	$130,000	$179	72
360 Madero St	0.41mi	2/1.0	680 (+1%)	13mo	$100,000	$147	68
818 Angela	0.58mi	1/1.0 (-1)	680 (+1%)	4mo	$65,000	$96	63
209-211 Pendleton	0.64mi	1/1.0 (-1)	672 (0%)	13mo	$150,000	$223	54
207 Goodwin	0.36mi	2/1.0	600 (-11%)	14mo	$109,000	$182	54
1528 Santiago St	0.73mi	2/1.0	675 (+0%)	19mo	$100,000	$148	50
1815 Vera Cruz	0.67mi	2/1.0	768 (+14%)	16mo	$109,900	$143	31

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

Projected returns pro-forma

10.0% appreciation · 7.73% rent growth · sell at horizon

5-year hold

• IRR: 62.6%
• Equity multiple: 5.72×
• Total profit: $65,895
• Equity at exit: $44,954

10-year hold

• IRR: 58.1%
• Equity multiple: 14.03×
• Total profit: $181,988
• Equity at exit: $96,945

Cash invested: $13,972 (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 78207

• Home prices YoY: 15.2%
• Rents YoY: 7.7%
• Active inventory: 154
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,133 high
• Mortgage (P&I): −$262
• Tax from tax record: −$94 /mo · $1,123/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $519

Break-even live

Break-even rent $476

Max offer price $49,900

Occupancy floor 49%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1938 S Zarzamora St Unit 610 San Antonio, TX	1.0	1.0	744	$915	$1.23	3d	1	0.37mi
2003 S Zarzamora St San Antonio, TX	1.0–4.0	1.0–2.0	1028	$1,120	$1.09	24d	1	0.42mi
1901 S San Marcos Unit 610 San Antonio, TX	1.0	1.0	750	$962	$1.28	3d	1	0.74mi
350 Barrett Pl San Antonio, TX	2.0	1.0	616	$1,225	$1.99	4d	1	0.93mi
330 Barrett Pl San Antonio, TX	1.0	1.0	400	$900	$2.25	12d	1	0.94mi
2721 Colima St San Antonio, TX	2.0	1.0	700	$1,250	$1.79	15d	1	0.97mi
218 Tampico St San Antonio, TX	2.0	1.0–2.0	808	$1,623	$2.01	2d	28	1.00mi
1102 El Paso St San Antonio, TX	1.0–3.0	1.0–2.0	888	$1,116	$1.26	3d	1	1.04mi
3017 Colima St San Antonio, TX	1.0	1.0	480	$800	$1.67	43d	1	1.11mi
815 Ripford St San Antonio, TX	2.0	1.0	728	$1,300	$1.79	4d	1	1.14mi
205 W Lambert St San Antonio, TX	2.0	1.0	550	$995	$1.81	17d	1	1.15mi
302 W Cevallos Unit 2 San Antonio, TX	1.0	1.0	400	$1,250	$3.12	43d	1	1.20mi
131 Klein St #1 San Antonio, TX	2.0	1.0	653	$1,395	$2.14	44d	1	1.22mi
939 S Frio St Unit 294 San Antonio, TX	1.0	1.0	664	$1,009	$1.52	11d	1	1.22mi
939 S Frio St Unit 1294 San Antonio, TX	1.0	1.0	630	$977	$1.55	3d	1	1.22mi
125 Forrest Ave San Antonio, TX	2.0	1.0	616	$1,275	$2.07	16d	1	1.23mi
1011 S Frio St San Antonio, TX	3.0	1.0–3.0	1121	$1,820	$1.62	1d	32	1.25mi
1401 S Flores St #300 San Antonio, TX	1.0	1.0	728	$1,750	$2.40	16d	1	1.36mi
128 Saint Francis Ave Unit 3 San Antonio, TX	1.0	1.0	528	$775	$1.47	24d	1	1.36mi
2600 S Flores St San Antonio, TX	2.0	1.0	705	$900	$1.28	24d	3	1.44mi
150 Bank St Unit C San Antonio, TX	1.0	1.0	600	$749	$1.25	20d	1	1.44mi
150 Bank St San Antonio, TX	1.0	1.0	700	$795	$1.14	43d	1	1.44mi
215 E Cevallos San Antonio, TX	3.0	1.0–3.0	1162	$2,348	$2.02	1d	20	1.48mi

Listing history 34 events

1. 2026-06-18
   days on market $49,900 Active 439 DOM
2. 2026-06-17
   days on market $49,900 Active 438 DOM
3. 2026-06-16
   statusdays on market $49,900 Active 437 DOM
4. 2026-06-15
   days on market $49,900 Price Change 436 DOM
5. 2026-06-13
   days on market $49,900 Price Change 434 DOM
6. 2026-06-09
   days on market $49,900 Price Change 430 DOM
7. 2026-06-08
   days on market $49,900 Price Change 429 DOM
8. 2026-06-07
   pricestatusdays on market $49,900 Price Change 428 DOM
9. 2026-06-04
   days on market $55,800 Active 425 DOM
10. 2026-06-03
    days on market $55,800 Active 424 DOM
11. 2026-06-02
    days on market $55,800 Active 423 DOM
12. 2026-06-01
    days on market $55,800 Active 422 DOM
13. 2026-05-31
    days on market $55,800 Active 421 DOM
14. 2026-05-18
    price $55,800 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

15. 2026-04-20
    price $58,500 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

16. 2026-02-18
    price $64,300 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

17. 2026-01-19
    price $64,800 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

18. 2025-12-03
    price $64,900 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

19. 2025-10-31
    price $65,100 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

20. 2025-10-19
    price $65,500 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

21. 2025-09-18
    price $66,700 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

22. 2025-08-07
    price $67,500 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

23. 2025-06-25
    price $68,500 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

24. 2025-06-01
    price $70,500 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

25. 2025-05-24
    price $72,500 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

26. 2025-05-10
    price $74,900 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

27. 2025-04-04
    listed $79,800 New 256-char remark

    Show marketing remark (256 chars)

    Investor Special - Full Rehab Opportunity! This property has been completely gutted and is ready for a full renovation. Ideal for seasoned investors looking for their next project. Bring your vision and turn this blank slate into a profitable masterpiece!

28. 2022-01-28
    status Pending
29. 2022-01-28
    historical
30. 2022-01-26
    status Back on Market
31. 2022-01-25
    status Pending
32. 2022-01-18
    listed $50,000 New
33. 2018-09-18
    soldstatus
34. 2018-07-20
    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: $1,123 · $94/mo
• Projected year-2 tax: $1,123 · $94/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 ≥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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,590
• − Mortgage interest: −$2,795
• − Property taxes: −$1,123
• − Insurance: −$250
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − Depreciation: −$1,452
• Taxable income: $5,797
• Est. tax owed @ 24.0%: −$1,391
• After-tax cash flow: $4,833/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): 55,474
• Household income: $32,472
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2789.0

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 (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 41% White 6% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 79%
• Foreign-born: 19% · Canada
• Languages at home: 39% English-only · Spanish 60%

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: ▲ 34.92%
• Current HPI: 264.7559
• Rent YoY: ▲ 7.73%
• 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

+11.6% since first listed

21 events — show timeline

• 2026-05-18 Price Changed $55,800 LERA
• 2026-04-20 Price Changed $58,500 LERA
• 2026-02-18 Price Changed $64,300 LERA
• 2026-01-19 Price Changed $64,800 LERA
• 2025-12-03 Price Changed $64,900 LERA
• 2025-10-31 Price Changed $65,100 LERA
• 2025-10-19 Price Changed $65,500 LERA
• 2025-09-18 Price Changed $66,700 LERA
• 2025-08-07 Price Changed $67,500 LERA
• 2025-06-25 Price Changed $68,500 LERA
• 2025-06-01 Price Changed $70,500 LERA
• 2025-05-24 Price Changed $72,500 LERA
• 2025-05-10 Price Changed $74,900 LERA
• 2025-04-04 Listed $79,800 LERA
• 2022-01-28 Pending — LERA
• 2022-01-28 Listing Removed — LERA
• 2022-01-26 Relisted — LERA
• 2022-01-25 Pending — LERA
• 2022-01-18 Listed $50,000 LERA
• 2018-09-18 Sold (Public Records) — Public Records
• 2018-07-20 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,123 · +0.9% YoY. Source: county tax records.