8038 Broadway · San Antonio, TX 78209

$145,000

2 bd · 2.0 ba · 1,098 sqft · Condo public records · 21 Days on market

Built 1965

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Cash flow +5.7/30.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks

GREAT ground floor 2/1 w/ fenced patio next to pool * OWNER WILL CARRY NOTE * Alamo Heights schools * On Broadway and busline straight downtown * * covered parking * * guest parking * * Owner is licensed agent

Key facts

• Fenced patio
• Next to pool
• Guest parking

Tags

• GROUND FLOOR
• FENCED PATIO
• NEXT TO POOL
• ALAMO HEIGHTS SCHOOLS
• COVERED PARKING
• GUEST PARKING

Property features AI

Exterior

• Home design: Built in 1965
• Construction: Living area approximately 1,133
• Exterior features: Located in the Uptown Central subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-298 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.

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.
• Alamo Heights ISD (urban): math 52% / reading 60% proficiency, ranked #73 of 826 in TX (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.0%/yr); 363 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 21 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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: property tax is 2.6% of price; HOA is 28% of rent.
• Climate carrying-cost: major wind risk, 77% 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 $142,825 (1.5% below list)

Questions for the listing agent

1. 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?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 3.83%
• Cash-on-cash: -8.81%
• DSCR: 0.61
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -37.8%
• Equity multiple: -0.16×
• Total profit: $-46,918
• Equity at exit: $21,620

10-year hold

• IRR: -99.4%
• Equity multiple: -1.03×
• Total profit: $-82,379
• Equity at exit: $12,537

Cash invested: $40,600 (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 78209

• Rents YoY: -1.0%
• Active inventory: 363
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$760
• Tax from tax record: −$320 /mo · $3,840/yr
• Insurance: −$60
• HOA est. from 11 same-building comps: −$460
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-298

Break-even live

Break-even rent $2,026

Max offer price $92,351

Occupancy floor —

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8030 Broadway Unit 102E San Antonio, TX	2.0	2.0	1155	$1,300	$1.13	43d	1	0.04mi
8030 Broadway San Antonio, TX	1.0	1.0	871	$1,671	$1.92	43d	1	0.05mi
8051 Broadway San Antonio, TX	1.0–2.0	1.0–2.0	761	$1,293	$1.70	2d	27	0.11mi
112 E Sunset Rd San Antonio, TX	3.0	2.0	1179	$2,300	$1.95	23d	1	0.14mi
8123 Scottshill San Antonio, TX	2.0	2.5	1348	$1,495	$1.11	12d	1	0.15mi
1903 Flamingo Dr San Antonio, TX	3.0	2.5	1384	$1,995	$1.44	12d	1	0.18mi
7926 Broadway #608 San Antonio, TX	2.0	2.0	1075	$1,795	$1.67	23d	1	0.21mi
7926 Broadway #102 San Antonio, TX	2.0	2.0	1153	$1,499	$1.30	14d	1	0.21mi
100 Lorenz Rd San Antonio, TX	3.0	3.0	1440	$1,495	$1.04	43d	1	0.29mi
100 Lorenz Rd San Antonio, TX	2.0	2.0	1169	$1,800	$1.54	17d	1	0.29mi
2010 Edgehill Dr San Antonio, TX	2.0	2.0	1290	$2,395	$1.86	17d	1	0.32mi
2010 Edgehill Dr San Antonio, TX	2.0	2.0	1290	$2,395	$1.86	43d	1	0.32mi
8222 Gault Ln Unit 710 San Antonio, TX	2.0	2.0	789	$981	$1.24	2d	1	0.36mi
327 W Sunset Rd San Antonio, TX	1.0–2.0	1.0–2.0	847	$1,571	$1.85	2d	2	0.39mi
8011 N New Braunfels Ave San Antonio, TX	1.0–2.0	1.0–2.0	775	$1,399	$1.81	43d	4	0.41mi
2118 Edgehill Dr Unit 710 San Antonio, TX	2.0	2.0	750	$1,332	$1.78	2d	1	0.43mi
384 Treeline Park San Antonio, TX	1.0–3.0	1.0–2.0	956	$1,415	$1.48	4d	8	0.47mi
8401 N New Braunfels Ave San Antonio, TX	1.0–2.0	1.0–2.0	793	$1,150	$1.45	23d	5	0.50mi
8446 Country Village St Unit 710 San Antonio, TX	2.0	2.0	850	$881	$1.04	2d	1	0.50mi
103 Oakhurst Pl San Antonio, TX	2.0	1.0	1235	$1,550	$1.26	4d	1	0.50mi
7731 Broadway San Antonio, TX	1.0	1.0	874	$1,597	$1.83	23d	1	0.50mi
340 Treeline Park San Antonio, TX	1.0–3.0	1.0–2.0	1001	$1,630	$1.63	1d	29	0.51mi
100 Lorenz Rd San Antonio, TX	2.0	2.0–2.5	1225	$1,700	$1.39	4d	2	0.52mi
100 Lorenz Rd San Antonio, TX	1.0–2.0	1.0–2.0	1016	$1,800	$1.77	23d	2	0.52mi
8446 Country Village St San Antonio, TX	1.0–3.0	1.0	800	$1,176	$1.47	23d	45	0.52mi
7711 Broadway Unit 27C San Antonio, TX	2.0	2.0	1123	$1,950	$1.74	43d	1	0.54mi
7711 Broadway Unit 11C San Antonio, TX	2.0	2.0	1161	$2,200	$1.89	23d	1	0.55mi
7711 Broadway Unit 4B San Antonio, TX	3.0	2.0	1362	$2,150	$1.58	43d	1	0.55mi
7711 Broadway Unit 3B San Antonio, TX	2.0	2.0	1127	$1,925	$1.71	43d	1	0.55mi
7711 Broadway Unit 1C San Antonio, TX	3.0	2.0	1300	$2,400	$1.85	17d	1	0.55mi
7709 Broadway San Antonio, TX	1.0	1.0	724	$1,725	$2.38	43d	1	0.57mi
7709 Broadway San Antonio, TX	1.0	1.0	816	$1,200	$1.47	23d	1	0.57mi
7709 Broadway #123 San Antonio, TX	1.0	1.0	816	$1,100	$1.35	21d	1	0.57mi
7709 Broadway #323 San Antonio, TX	1.0	1.0	862	$1,500	$1.74	43d	1	0.57mi
390 Treeline Park San Antonio, TX	1.0	1.0	712	$1,145	$1.61	43d	1	0.58mi
250 Treeline Park Unit 3213 San Antonio, TX	3.0	2.0	1445	$2,505	$1.73	2d	1	0.58mi
250 Treeline Park Apt 710 San Antonio, TX	2.0	2.0	1144	$1,879	$1.64	2d	1	0.58mi
250 Treeline Park Apt 610 San Antonio, TX	1.0	1.0	834	$1,459	$1.75	2d	1	0.58mi
7707 Broadway San Antonio, TX	2.0	2.0	1170	$1,995	$1.71	2d	1	0.59mi
7707 Broadway Unit 12 San Antonio, TX	2.0	1.0	866	$1,400	$1.62	4d	1	0.59mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $145,000 Active 21 DOM
2. 2026-06-17
   days on market $145,000 Active 20 DOM
3. 2026-06-16
   days on market $145,000 Active 19 DOM
4. 2026-06-15
   days on market $145,000 Active 18 DOM
5. 2026-06-13
   days on market $145,000 Active 16 DOM
6. 2026-06-09
   days on market $145,000 Active 12 DOM
7. 2026-06-08
   days on market $145,000 Active 11 DOM
8. 2026-06-07
   days on market $145,000 Active 10 DOM
9. 2026-06-04
   days on market $145,000 Active 7 DOM
10. 2026-06-03
    days on market $145,000 Active 6 DOM
11. 2026-06-02
    days on market $145,000 Active 5 DOM
12. 2026-06-01
    days on market $145,000 Active 4 DOM
13. 2026-05-31
    days on market $145,000 Active 3 DOM
14. 2026-05-29
    listed $145,000 Active
15. 2026-05-28
    listed $1,325
16. 2025-04-25
    historical $1,275
17. 2025-04-04
    price $1,275
18. 2025-03-20
    listed $1,295
19. 2024-10-12
    historical $1,150
20. 2024-04-10
    listed $1,150
21. 2019-04-18
    soldstatus
22. 2014-01-10
    soldstatus
23. 2010-04-15
    soldstatus
24. 2000-10-09
    soldstatus
25. 1999-07-09
    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: $3,840 · $320/mo
• Projected year-2 tax: $3,840 · $320/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 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,789
• − Mortgage interest: −$8,122
• − Property taxes: −$3,840
• − Insurance: −$725
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − HOA: −$5,520
• − Depreciation: −$4,218
• Taxable loss: −$5,803
• Est. tax savings @ 24.0%: +$1,393
• After-tax cash flow: $-2,184/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: Alamo Heights ISD
• NCES district ID: 4807590
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 60% ▼ -3.00%
• Median HH income: $78,337
• Composite: 50.44/100
• National rank: #1865
• State rank: #73 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): 43,400
• Household income: $86,514
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 1480.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 2% Tagalog/Filipino 0%

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: ▼ -386.19%
• Current HPI: 251.5759
• Rent YoY: ▼ -1.04%
• 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

+12508.7% since first listed

12 events — show timeline

• 2026-05-29 Listed $145,000 FSBO.com
• 2026-05-28 Listed for Rent $1,325 SHOWMOJO
• 2025-04-25 Rental Removed $1,275 SHOWMOJO
• 2025-04-04 Price Changed $1,275 SHOWMOJO
• 2025-03-20 Listed for Rent $1,295 SHOWMOJO
• 2024-10-12 Rental Removed $1,150 APPFOLIO
• 2024-04-10 Listed for Rent $1,150 APPFOLIO
• 2019-04-18 Sold (Public Records) — Public Records
• 2014-01-10 Sold (Public Records) — Public Records
• 2010-04-15 Sold (Public Records) — Public Records
• 2000-10-09 Sold (Public Records) — Public Records
• 1999-07-09 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,840 · -0.4% YoY. Source: county tax records.