203 Sharer St · San Antonio, TX 78208

$98,900

3 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 16 Days on market

Built 1920 5,797 sqft lot

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

Investor Special with Endless Potential! Situated on a desirable corner lot in a prime location with quick and convenient access to I-35, this 3-bedroom, 1-bath home presents an excellent opportunity for investors, flippers, or buyers looking to add their personal touch. With solid bones and plenty of possibilities, this property is ready to be transformed into something special. The corner lot offers added space, visibility, and flexibility, while the convenient location places you just minutes from Rivercenter Mall, Dining, Museums, The Zoo, The River walk, The Alamo, schools and major commuting routes. Whether you’re searching for your next investment project, rental property, or a

Key facts

• Quick access to i-35
• Near dining
• Near museums

Tags

• CORNER LOT
• PRIME LOCATION
• QUICK ACCESS TO I-35
• MINUTES FROM RIVERCENTER MALL
• NEAR DINING
• NEAR MUSEUMS

Property features AI

Exterior

• Parking: Detached garage; Detached carport; 2-car garage space; 2-car carport space
• Utilities: Above-ground utilities; Electricity available and on property; Public water; Public sewer
• Home design: Single-story; Resale property; Pillar/post/pier foundation; Metal roof
• Construction: See remarks for construction materials; Year built per assessor
• Exterior features: Covered porch; Porch; Full chain-link fencing

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: Other (1 total room listed)
• Flooring: Carpet; Combination flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Wall/window unit cooling
• Interior features: Ceiling fans; High ceilings; Pull-down attic stairs; Shower only (separate shower)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 flat; 27 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $1,883/mo this rent would consume 85% of the median local household income ($27k/yr) (locally 526% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $11k of equity ($684 loan paydown + $10k 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 + 0.7% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1920 — 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 $97,416 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.90% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.64%
• DSCR: 2.32
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $206,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
132 Sharer	0.03mi	3/1.0	1,098 (-4%)	4mo	$120,000	$109	88
115 Sharer	0.06mi	3/2.0	1,245 (+8%)	4mo	$316,000	$254	75
906 E Carson St	0.45mi	2/1.0 (-1)	1,178 (+3%)	2mo	$307,000	$261	68
1015 Rogers	0.52mi	4/1.0 (+1)	1,136 (-1%)	3mo	$76,019	$67	67
1019 Nolan	0.65mi	3/1.0	1,184 (+3%)	2mo	$210,000	$177	63
2259 N Interstate 35	0.62mi	3/1.0	1,198 (+4%)	4mo	$124,200	$104	61
1669 Olive Ibis	0.30mi	3/2.0	1,280 (+12%)	4mo	$229,950	$180	60
1629 Olive Ibis	0.29mi	3/2.0	1,280 (+12%)	4mo	$229,950	$180	60
1001 Mason	0.46mi	2/1.0 (-1)	1,244 (+8%)	2mo	$200,000	$161	57
815 Burnet St	0.57mi	2/1.0 (-1)	1,000 (-13%)	0mo	$299,900	$300	46
204 Gorman	0.72mi	2/2.0 (-1)	1,054 (-8%)	3mo	$245,000	$232	41
1413 Burnet	0.68mi	2/2.0 (-1)	1,005 (-12%)	4mo	$250,000	$249	35

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 · 0.7% rent growth · sell at horizon

5-year hold

• IRR: 45.3%
• Equity multiple: 4.37×
• Total profit: $93,268
• Equity at exit: $89,097

10-year hold

• IRR: 38.3%
• Equity multiple: 9.40×
• Total profit: $232,749
• Equity at exit: $192,141

Cash invested: $27,692 (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 78208

• Home prices YoY: 3.2%
• Rents YoY: 0.7%
• Active inventory: 27
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,883 high
• Mortgage (P&I): −$519
• Tax from tax record: −$244 /mo · $2,922/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $684

Break-even live

Break-even rent $1,017

Max offer price $98,900

Occupancy floor 59%

Sensitivity live

Price	-10% $740	-5% $712	+0% $684	+5% $656	+10% $628
Rent	-10% $535	-5% $610	+0% $684	+5% $758	+10% $833
Rate	-1.0pp $734	-0.5pp $709	base $684	+0.5pp $658	+1.0pp $632

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Willow St San Antonio, TX	2.0	1.0	900	$1,000	$1.11	44d	1	0.19mi
1116 Muncey St Unit 2 San Antonio, TX	3.0	2.0	896	$1,500	$1.67	16d	1	0.23mi
1116 Muncey St Unit 1 San Antonio, TX	3.0	2.0	896	$1,600	$1.79	44d	1	0.23mi
1606 N Hackberry St #102 San Antonio, TX	2.0	2.5	1474	$2,500	$1.70	11d	1	0.29mi
821 Burleson San Antonio, TX	2.0	2.5	1456	$1,629	$1.12	44d	1	0.29mi
1219 Muncey San Antonio, TX	2.0	2.0	944	$1,350	$1.43	24d	1	0.30mi
1123 N Olive St San Antonio, TX	2.0	1.0	840	$1,600	$1.90	24d	1	0.30mi
330 E Carson St Unit 3103 San Antonio, TX	2.0	2.5	1398	$2,170	$1.55	44d	1	0.30mi
330 E Carson St Unit 1201 San Antonio, TX	2.0	2.0	1215	$1,650	$1.36	24d	1	0.30mi
330 E Carson St Unit 3103 San Antonio, TX	2.0	2.5	1398	$1,890	$1.35	24d	1	0.30mi
330 E Carson St San Antonio, TX	2.0	2.0	1398	$1,890	$1.35	20d	1	0.30mi
330 E Carson St Unit 2103 San Antonio, TX	3.0	3.0	1428	$1,930	$1.35	24d	1	0.30mi
330 E Carson St San Antonio, TX	2.0	2.0	1398	$1,890	$1.35	22d	1	0.30mi
330 E Carson St Unit 2103 San Antonio, TX	3.0	3.0	1428	$2,215	$1.55	44d	1	0.30mi
410 E Carson St Unit 3 San Antonio, TX	2.0	1.5	900	$1,800	$2.00	44d	1	0.30mi
201 E Carson St Unit 2 San Antonio, TX	2.0	2.0	927	$2,500	$2.70	44d	1	0.41mi
1102 Burleson San Antonio, TX	3.0	2.0	1400	$2,500	$1.79	24d	1	0.43mi
831 E Grayson St San Antonio, TX	2.0	1.0	787	$999	$1.27	15d	4	0.46mi
819 E Grayson St San Antonio, TX	1.0–2.0	1.0	825	$999	$1.21	24d	4	0.46mi
914 E Josephine St San Antonio, TX	2.0	2.5	1420	$2,450	$1.73	44d	1	0.48mi
925 E Carson St Unit 710 San Antonio, TX	2.0	2.0	1019	$1,918	$1.88	3d	1	0.49mi
1542 N Alamo St San Antonio, TX	2.0	2.0	1013	$2,485	$2.45	44d	1	0.50mi
1542 N Alamo St San Antonio, TX	1.0–2.0	1.0–2.0	852	$2,000	$2.35	4d	2	0.50mi
1203 Austin St San Antonio, TX	1.0–2.0	1.0–2.0	933	$2,334	$2.50	2d	43	0.51mi
923 E Carson St San Antonio, TX	2.0	1.0–2.0	859	$2,459	$2.86	2d	38	0.52mi
118 Canadian St San Antonio, TX	3.0	2.0	1232	$2,300	$1.87	44d	1	0.57mi
1800 Broadway St San Antonio, TX	2.0	1.0–2.5	1100	$2,734	$2.49	2d	41	0.59mi
1225 Burnet St Unit 101 San Antonio, TX	3.0	2.0	1218	$1,850	$1.52	44d	1	0.60mi
1323 Lamar St #1 San Antonio, TX	2.0	1.0	900	$999	$1.11	44d	1	0.65mi
1021 N Alamo St San Antonio, TX	2.0	1.0	1202	$2,000	$1.66	44d	1	0.66mi
1915 Broadway Unit 710 San Antonio, TX	2.0	2.0	1134	$2,066	$1.82	3d	1	0.67mi
704 N Cherry St Unit 704 San Antonio, TX	2.0	2.5	1200	$1,800	$1.50	44d	1	0.68mi
1411 Lamar St San Antonio, TX	2.0	1.0	700	$1,125	$1.61	44d	1	0.70mi
1412 Hays St San Antonio, TX	3.0	1.0	1250	$1,495	$1.20	24d	1	0.70mi
503 Avenue A San Antonio, TX	2.0	1.0–2.0	906	$3,325	$3.67	2d	55	0.72mi
603 N Mesquite St San Antonio, TX	3.0	2.5	1333	$1,750	$1.31	24d	1	0.74mi
122 Roy Smith St San Antonio, TX	3.0	1.0–3.0	996	$3,299	$3.31	3d	18	0.75mi
111 W Jones Ave San Antonio, TX	2.0	1.0–2.0	773	$2,689	$3.48	2d	17	0.75mi
103 Saint Charles Unit NA San Antonio, TX	2.0	2.0	995	$1,300	$1.31	44d	1	0.77mi
323 Gabriel Unit 1 201 San Antonio, TX	2.0	2.5	1000	$1,375	$1.38	44d	1	0.78mi

Listing history 11 events

1. 2026-06-18
   days on market $98,900 Active 16 DOM
2. 2026-06-17
   days on market $98,900 Active 15 DOM
3. 2026-06-16
   days on market $98,900 Active 14 DOM
4. 2026-06-15
   days on market $98,900 Active 13 DOM
5. 2026-06-13
   days on market $98,900 Active 11 DOM
6. 2026-06-09
   days on market $98,900 Active 7 DOM
7. 2026-06-08
   days on market $98,900 Active 6 DOM
8. 2026-06-07
   days on market $98,900 Active 5 DOM
9. 2026-06-04
   days on market $98,900 Active 2 DOM
10. 2026-06-02
    remarks 693-char remark
11. 2026-06-02
    listed $98,900 Active 1 DOM

ⓘ 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: $2,922 · $244/mo
• Projected year-2 tax: $2,922 · $244/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 ≥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: $22,592
• − Mortgage interest: −$5,540
• − Property taxes: −$2,922
• − Insurance: −$494
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$2,877
• Taxable income: $7,144
• Est. tax owed @ 24.0%: −$1,714
• After-tax cash flow: $6,493/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): 3,861
• Household income: $26,595
• Rent vs Own: 67.5% rent · 32.5% own
• Severe rent burden: 526.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 25% Two or more races 22% White 10%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Serbian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 30% Russian/Polish/Slavic 1%

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: ▲ 13.53%
• Current HPI: 432.482
• Rent YoY: ▲ 0.70%
• 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

3 events — show timeline

• 2026-06-02 Listed $98,900 CTXMLS
• 2025-10-27 Sold (Public Records) — Public Records
• 2002-11-15 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,922 · +10.0% YoY. Source: county tax records.