1 Towers Park Ln #1604

San Antonio, TX 78209

$22,500D

1 bd · 1.0 ba · 688 sqft · Built 1988 · SingleFamily · Active · 466 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,172/mo
• Mortgage (P&I): −$118
• Tax + insurance: −$57
• HOA: −$2,292
• Vac / Maint / Mgmt: −$246
• Net cashflow: $-1,541/mo
• Annual: $-18,491/yr
• Cap rate: -75.89%
• Cash-on-cash: -293.50%
• DSCR: -12.06
• 1% rule: 5.21%
• Cash to close: $6,300

Investor read

• This is a 1-bed/1.0-bath single-family listed at $22k.
• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($1k rent vs $22k).
• It's been on market 466 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $156 of loan paydown is wiped out by about $675 of value loss. Plan a longer hold.
• 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.
• 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.
• Zoned schools: Lamar El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 297 students, 72% FRL, charter); Edison H S (math 14% / reading 24%, grade F, #1,431 of 1,632 statewide, top 88%, 1,329 students, 90% FRL) — zoned schools at 81% FRL track the district average.
• Watch-outs: property tax is 2.5% of price; HOA is 195% of rent.
• Market conditions: Rents soft (-1.0%/yr); 373 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $16k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• Cap rate -75.9% vs local median 3.8% in San Antonio — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent is only 16% of the median local income ($87k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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?
• It's been on market 466 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?