19027 Encanto Aly

San Antonio, TX 78264

$190,999C

3 bd · 2.0 ba · 1,402 sqft · Built 2026 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$1,002
• Tax + insurance: −$318
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $102/mo
• Annual: $1,225/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $53,480

Investor read

• This is a 3-bed/2.0-bath single-family listed at $191k. Condition is rated excellent.
• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (5.8% below list).
• It's been on market 15 days — a 2% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (5.8% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (3.9% 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: schools C-, crime F.
• Somerset ISD (rural): math 41% / reading 39% proficiency, ranked #417 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 359 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k 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; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% 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.

Questions for listing agent

• 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?
• 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.
• 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.
• 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.