5708 Basil Chase

San Antonio, TX 78152

$274,000D

3 bd · 2.0 ba · 1,633 sqft · Built 2024 · SingleFamily · Price Change · 249 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,811/mo
• Mortgage (P&I): −$1,437
• Tax + insurance: −$261
• HOA: −$21
• Vac / Maint / Mgmt: −$380
• Net cashflow: $-288/mo
• Annual: $-3,454/yr
• Cap rate: 5.03%
• Cash-on-cash: -4.50%
• DSCR: 0.80
• 1% rule: 0.66%
• Cash to close: $76,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $274k.
• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (18.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (33.9% below list).
• It's been on market 249 days — a 12% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $181k (33.9% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• 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.
• 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: Rose Garden El (math 32% / reading 36%, grade F, #2,149 of 4,322 statewide, top 50%, 902 students, 48% FRL); Ray D Corbett J H (math 52% / reading 49%, grade C, #333 of 1,662 statewide, top 21%, 1,188 students, 40% FRL); Samuel Clemens H S (math 45% / reading 60%, grade C-, #444 of 1,632 statewide, top 27%, 2,544 students, 30% FRL).
• Market conditions: Rents soft (-0.9%/yr); 158 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• 4 sale attempts 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.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.0% 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.
• This rent is only 18% of the median local income ($124k/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 249 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• 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?
• 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.