427 & 431 Dunning · San Antonio, TX 78210

$194,900

4 bd · 4.0 ba · 1,569 sqft · SingleFamily · 62 Days on market

Built 1916 5,096 sqft lot $124/sqft · 21% below area Est $247k · 21% under

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Why this score? — see what drove the C+ 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into timeless charm with this 1916 duplex, where original character meets modern updates. Unit 1 offers a 1-bedroom, 1-bath layout with a spacious living area and a full kitchen that preserves its historic appeal. Unit 2 includes 1 bedroom and 1 bath with a split-bedroom design, complemented by a kitchen featuring quartz countertops. Both units have updated electrical systems. Original cabinetry and doors have been restored, adding to the home's vintage charm. Additional improvements include commercial-grade solar screens on all windows and two new water heaters. An exceptional opportunity for investors or owner-occupants seeking rental income while owning a piece of San Antonio history.

Key facts

• Quartz countertops
• New flooring
• Brand-new kitchen

Tags

• THOUGHTFULLY RENOVATED UNITS
• FULLY RESTORED KITCHEN
• BRAND-NEW KITCHEN
• QUARTZ COUNTERTOPS
• NEW FLOORING
• FRESH INTERIOR PAINT

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 (+1.1%/yr); 269 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 43% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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 62 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: built in 1916 — 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 $183,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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: 1.00% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 8.3

CMA / ARV

• ARV (median comp): $246,676
• List price: $194,900
• Delta: -20.99%
• 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
246 High Ave	0.28mi	3/3.0 (-1)	1,494 (-5%)	7mo	$249,900	$167	64
323 Roseborough	0.28mi	3/2.0 (-1)	1,664 (+6%)	3mo	$175,000	$105	61
111 Bailey	0.22mi	3/2.0 (-1)	1,699 (+8%)	7mo	$365,000	$215	57
211 Bailey Ave	0.30mi	3/2.0 (-1)	1,454 (-7%)	6mo	$379,000	$261	56
1119 Mckinley Ave	0.49mi	3/2.0 (-1)	1,492 (-5%)	3mo	$299,500	$201	54
628 Essex	0.65mi	3/2.0 (-1)	1,568 (-0%)	4mo	$324,900	$207	53
534 Kayton	0.63mi	3/2.0 (-1)	1,512 (-4%)	1mo	$89,000	$59	51
211 W High Ave	0.32mi	3/2.0 (-1)	1,424 (-9%)	9mo	$315,000	$221	49
427 Vanderbilt	0.68mi	3/1.0 (-1)	1,518 (-3%)	2mo	$189,999	$125	44
231 Wilkens	0.56mi	3/2.0 (-1)	1,460 (-7%)	9mo	$175,000	$120	42
1614 Steves	0.63mi	3/2.0 (-1)	1,750 (+12%)	3mo	$274,900	$157	36
907 Steves Ave	0.63mi	3/1.0 (-1)	1,400 (-11%)	2mo	$165,000	$118	34

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

Projected returns pro-forma

-3.0% appreciation · 1.07% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-10,738
• Equity at exit: $29,060

10-year hold

• IRR: 2.0%
• Equity multiple: 1.13×
• Total profit: $7,336
• Equity at exit: $16,851

Cash invested: $54,572 (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 78210

• Rents YoY: 1.1%
• Active inventory: 269
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,956 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$55 /mo · $661/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $387

Break-even live

Break-even rent $1,466

Max offer price $194,900

Occupancy floor 75%

Sensitivity live

Price	-10% $497	-5% $442	+0% $387	+5% $332	+10% $277
Rent	-10% $233	-5% $310	+0% $387	+5% $464	+10% $542
Rate	-1.0pp $485	-0.5pp $437	base $387	+0.5pp $337	+1.0pp $285

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
142 Avant Ave #1 San Antonio, TX	3.0	1.0	1314	$1,495	$1.14	18d	1	0.25mi
119 W Drexel Ave San Antonio, TX	4.0	2.0	1592	$1,400	$0.88	44d	1	0.28mi
1726 S Olive St San Antonio, TX	3.0	3.5	2015	$2,800	$1.39	24d	1	0.29mi
331 Avant Ave San Antonio, TX	3.0	2.0	1200	$1,825	$1.52	24d	1	0.42mi
1039 McKinley Ave San Antonio, TX	3.0	3.0	1650	$2,300	$1.39	2d	1	0.44mi
517 Hicks Ave San Antonio, TX	3.0	2.0	1520	$1,700	$1.12	44d	1	0.46mi
1510 Steves Ave San Antonio, TX	3.0	2.0	1330	$1,800	$1.35	24d	1	0.56mi
454 Bailey Ave San Antonio, TX	3.0	2.0	1674	$1,495	$0.89	44d	1	0.61mi
531 Essex St Unit 202 San Antonio, TX	3.0	2.5	1514	$2,000	$1.32	24d	1	0.61mi
534 Rigsby Ave San Antonio, TX	3.0	2.0	1438	$1,950	$1.36	24d	1	0.67mi
827 Florida St Unit 101 San Antonio, TX	3.0	2.5	1426	$1,950	$1.37	44d	1	0.69mi
627 Essex St San Antonio, TX	3.0	2.5	1402	$1,850	$1.32	24d	1	0.70mi
622 Denver Blvd San Antonio, TX	5.0	3.5	1990	$2,100	$1.06	44d	1	0.72mi
228 Lotus St Unit 201 San Antonio, TX	3.0	2.0	1700	$1,900	$1.12	13d	1	0.75mi
228 Lotus St Unit 201 San Antonio, TX	3.0	3.5	1500	$1,850	$1.23	3d	1	0.75mi
228 Lotus Ave Unit 101 San Antonio, TX	3.0	2.0	1500	$1,850	$1.23	13d	1	0.75mi
228 Lotus Ave Unit 101 San Antonio, TX	3.0	3.5	1500	$1,800	$1.20	5d	1	0.75mi
518 Topeka Blvd San Antonio, TX	3.0	2.0	1135	$1,375	$1.21	24d	1	0.76mi
220 Hansford St San Antonio, TX	3.0	2.0	1269	$1,600	$1.26	4d	1	0.77mi
1022 Delaware St Unit 3 San Antonio, TX	3.0	2.5	1244	$1,850	$1.49	24d	1	0.78mi
1021 S Hackberry St Unit 201 San Antonio, TX	3.0	3.5	1747	$2,950	$1.69	44d	1	0.79mi
415 Florida St San Antonio, TX	3.0	2.0	1333	$2,799	$2.10	20d	1	0.79mi
636 Rigsby Ave San Antonio, TX	3.0	1.0	1327	$1,595	$1.20	44d	1	0.81mi
1519 S Presa St San Antonio, TX	3.0	3.5	1747	$3,200	$1.83	44d	1	0.82mi
704 Cuney Way San Antonio, TX	4.0	2.0	1528	$2,600	$1.70	24d	1	0.83mi
534 Chicago Blvd Unit NA San Antonio, TX	3.0	2.0	1250	$1,550	$1.24	18d	1	0.83mi
534 Chicago Blvd San Antonio, TX	3.0	2.0	1250	$1,550	$1.24	20d	1	0.83mi
1444 McKinley Ave San Antonio, TX	3.0	2.0	1618	$2,500	$1.55	24d	1	0.88mi
210 Utah St #101 San Antonio, TX	3.0	2.5	1208	$1,695	$1.40	44d	1	0.89mi
807 Dreiss St San Antonio, TX	3.0	2.0	1200	$2,095	$1.75	24d	1	0.93mi
610 Virginia Blvd Unit 2 San Antonio, TX	3.0	1.0	1722	$1,150	$0.67	5d	1	0.93mi
343 Porter St #101 San Antonio, TX	3.0	2.5	1600	$2,100	$1.31	5d	1	0.94mi
747 Bailey Ave San Antonio, TX	5.0	3.0	2069	$2,495	$1.21	13d	1	0.96mi
732 S Pine St Unit 1 San Antonio, TX	3.0	2.0	1371	$1,650	$1.20	44d	1	1.01mi
123 Fairview Ave #3 San Antonio, TX	3.0	2.5	1776	$1,800	$1.01	44d	1	1.02mi
707 S Olive St Unit B San Antonio, TX	3.0	2.0	2054	$1,500	$0.73	45d	1	1.03mi
1627 Schley Ave San Antonio, TX	3.0	1.0	1408	$1,650	$1.17	24d	1	1.05mi
326 Cactus St San Antonio, TX	3.0	2.5	2059	$2,500	$1.21	24d	1	1.07mi
104 Shenandoah San Antonio, TX	3.0	2.5	1580	$1,925	$1.22	18d	1	1.07mi
125 Ada St Unit 1 San Antonio, TX	3.0	1.0	1563	$1,295	$0.83	44d	1	1.07mi

Listing history 18 events

1. 2026-06-18
   days on market $194,900 Active 62 DOM
2. 2026-06-17
   days on market $194,900 Active 61 DOM
3. 2026-06-16
   days on market $194,900 Active 60 DOM
4. 2026-06-15
   days on market $194,900 Active 59 DOM
5. 2026-06-13
   days on market $194,900 Active 57 DOM
6. 2026-06-09
   days on market $194,900 Active 53 DOM
7. 2026-06-08
   days on market $194,900 Active 52 DOM
8. 2026-06-07
   days on market $194,900 Active 51 DOM
9. 2026-06-04
   days on market $194,900 Active 48 DOM
10. 2026-06-03
    days on market $194,900 Active 47 DOM
11. 2026-06-02
    days on market $194,900 Active 46 DOM
12. 2026-06-01
    statusdays on market $194,900 Active 45 DOM
13. 2026-05-31
    days on market $194,900 Price Change 44 DOM
14. 2026-04-17
    listed $199,000 New 703-char remark

    Show marketing remark (703 chars)

    Step into timeless charm with this 1916 duplex, where original character meets modern updates. Unit 1 offers a 1-bedroom, 1-bath layout with a spacious living area and a full kitchen that preserves its historic appeal. Unit 2 includes 1 bedroom and 1 bath with a split-bedroom design, complemented by a kitchen featuring quartz countertops. Both units have updated electrical systems. Original cabinetry and doors have been restored, adding to the home's vintage charm. Additional improvements include commercial-grade solar screens on all windows and two new water heaters. An exceptional opportunity for investors or owner-occupants seeking rental income while owning a piece of San Antonio history.

15. 2023-06-22
    soldstatus Sold 632-char remark

    Show marketing remark (632 chars)

    PLEASE READ WHOLE PROPERTY DESCRIPTION, THIS IS A PACKAGE DEAL FOR $400,000 OBO. Three home package deal for a motivated investor, 3 homes and a small lot right next to each other ready for a full re-hab. ONLY TO BE SOLD TOGETHER, NO INDIVIDUAL OFFERS, cash only, as-is, no assignments. For showings or viewings, proof of funds will need to be sent to the listing agent, all appointments to be made through Showing Time. Addresses are 427, 431, 435, and 439 Dunning Ave. No offers will be considered if the property has not been visited in person by the buyer. Total price for all the properties is $400,000.00 OBO being sold AS-IS.

16. 2023-06-13
    status Pending 632-char remark

    Show marketing remark (632 chars)

    PLEASE READ WHOLE PROPERTY DESCRIPTION, THIS IS A PACKAGE DEAL FOR $400,000 OBO. Three home package deal for a motivated investor, 3 homes and a small lot right next to each other ready for a full re-hab. ONLY TO BE SOLD TOGETHER, NO INDIVIDUAL OFFERS, cash only, as-is, no assignments. For showings or viewings, proof of funds will need to be sent to the listing agent, all appointments to be made through Showing Time. Addresses are 427, 431, 435, and 439 Dunning Ave. No offers will be considered if the property has not been visited in person by the buyer. Total price for all the properties is $400,000.00 OBO being sold AS-IS.

17. 2023-03-09
    listed $150,000 New 632-char remark

    Show marketing remark (632 chars)

    PLEASE READ WHOLE PROPERTY DESCRIPTION, THIS IS A PACKAGE DEAL FOR $400,000 OBO. Three home package deal for a motivated investor, 3 homes and a small lot right next to each other ready for a full re-hab. ONLY TO BE SOLD TOGETHER, NO INDIVIDUAL OFFERS, cash only, as-is, no assignments. For showings or viewings, proof of funds will need to be sent to the listing agent, all appointments to be made through Showing Time. Addresses are 427, 431, 435, and 439 Dunning Ave. No offers will be considered if the property has not been visited in person by the buyer. Total price for all the properties is $400,000.00 OBO being sold AS-IS.

18. 1990-07-01
    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: $661 · $55/mo
• Projected year-2 tax: $3,567 · $297/mo
• Expected delta: +$2,906/yr (+$242/mo · 439.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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: $23,476
• − Mortgage interest: −$10,917
• − Property taxes: −$661
• − Insurance: −$974
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − Depreciation: −$5,670
• Taxable income: $1,497
• Est. tax owed @ 24.0%: −$359
• After-tax cash flow: $4,286/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): 34,940
• Household income: $55,028
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1708.0

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 (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 29% White 11% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 72% Puerto Rican 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 55% English-only · Spanish 44%

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: ▼ -163.42%
• Current HPI: 286.299
• Rent YoY: ▲ 1.07%
• 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

+32.7% since first listed

5 events — show timeline

• 2026-04-17 Listed $199,000 LERA
• 2023-06-22 Sold (MLS) — LERA
• 2023-06-13 Pending — LERA
• 2023-03-09 Listed $150,000 LERA
• 1990-07-01 Sold (Public Records) — Public Records

Property tax history

+26.0%/yr

Latest (2025): $661 · +0.0% YoY. Source: county tax records.