341&343 Avondale Ave · San Antonio, TX 78223

$224,900

6 bd · 3.9 ba · 2,516 sqft · MultiFamily · 213 Days on market

Built 1942 Good condition 9,801 sqft lot $89/sqft · 7% below area Est $242k · 7% under ↓ 22% since listing

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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
• ARV discount +10.7/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +1.7/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

Key facts

• Multi-unit property
• 9,801 sq ft lot
• 8 parking spots

Tags

• MULTI-UNIT PROPERTY
• EXISTING TENANT-OCCUPIED ADU
• FOUR SEPARATE RENTAL INCOMES
• THREE INDIVIDUAL UNITS
• RENOVATIONS ALREADY STARTED
• BOUNDLESS INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $344/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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 falling (-3.4%/yr); 329 active listings in the ZIP; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• At $3,274/mo this rent would consume 75% of the median local household income ($52k/yr) (locally 2809% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $197,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.46% ✓
• Cap rate: 11.80%
• Cash-on-cash: 19.67%
• DSCR: 1.88
• GRM: 5.7

CMA / ARV

• ARV (median comp): $242,085
• List price: $224,900
• Delta: -7.10%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.3%
• Equity multiple: 1.31×
• Total profit: $19,754
• Equity at exit: $33,533

10-year hold

• IRR: 14.8%
• Equity multiple: 2.03×
• Total profit: $64,977
• Equity at exit: $19,445

Cash invested: $62,972 (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 78223

• Home prices YoY: -16.4%
• Rents YoY: -3.4%
• Active inventory: 329
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,274 high
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $1,032

Break-even live

Break-even rent $1,967

Max offer price $224,900

Occupancy floor 63%

Sensitivity live

Price	-10% $1,188	-5% $1,110	+0% $1,032	+5% $955	+10% $877
Rent	-10% $774	-5% $903	+0% $1,032	+5% $1,162	+10% $1,291
Rate	-1.0pp $1,145	-0.5pp $1,089	base $1,032	+0.5pp $974	+1.0pp $915

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$3,273
Total (3 units)			$3,274

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $224,900 Active 213 DOM
2. 2026-06-18
   days on market $224,900 Active 210 DOM
3. 2026-06-17
   days on market $224,900 Active 209 DOM
4. 2026-06-16
   days on market $224,900 Active 208 DOM
5. 2026-06-15
   days on market $224,900 Active 207 DOM
6. 2026-06-13
   days on market $224,900 Active 205 DOM
7. 2026-06-09
   days on market $224,900 Active 201 DOM
8. 2026-06-08
   days on market $224,900 Active 200 DOM
9. 2026-06-07
   days on market $224,900 Active 199 DOM
10. 2026-06-04
    days on market $224,900 Active 196 DOM
11. 2026-06-03
    days on market $224,900 Active 195 DOM
12. 2026-06-02
    days on market $224,900 Active 194 DOM
13. 2026-06-01
    days on market $224,900 Active 193 DOM
14. 2026-05-31
    days on market $224,900 Active 192 DOM
15. 2026-04-24
    price $224,900 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

16. 2026-04-14
    status Back on Market 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

17. 2026-04-11
    historical 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

18. 2026-02-10
    price $229,900 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

19. 2026-01-15
    price $234,900 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

20. 2026-01-09
    price $236,000 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

21. 2025-11-17
    listed $237,000 New 1177-char remark

    Show marketing remark (1177 chars)

    Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring a ready to move in ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit, you'll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold "as-is," giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you're set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. Don't miss out on this fantastic investment in a property with boundless income potential.

22. 2025-09-30
    historical
23. 2025-08-01
    price $248,400
24. 2025-07-24
    price $248,900
25. 2025-06-18
    price $249,000
26. 2025-05-27
    price $257,000
27. 2025-05-01
    price $258,000
28. 2025-04-21
    price $259,000
29. 2025-04-06
    price $265,000
30. 2025-04-03
    status Back on Market
31. 2025-04-01
    historical
32. 2025-01-31
    price $275,000
33. 2025-01-09
    price $285,000
34. 2024-11-14
    listed $290,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $39,288
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,143
• − Management: −$3,143
• − Depreciation: −$6,543
• Taxable income: $9,363
• Est. tax owed @ 24.0%: −$2,247
• After-tax cash flow: $10,139/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.

Condition & rehab AI · 3 photos

Good 75/100 Moderate rehab

This multi-family property is in good condition with a moderate level of renovation needed to maximize its rental and resale potential.

Value-add opportunities

• Both renovate the main house into three individual units — This would increase both the rental income and the resale value by creating more separate rental units.
• Both update the ADU to a larger unit — This would increase the rental income and the resale value by creating a more spacious and attractive rental unit.

Renovation cost estimate screening

Value-add ROI direction

• Both renovate the main house into three individual units — This would increase both the rental income and the resale value by creating more separate rental units. ↑
• Both update the ADU to a larger unit — This would increase the rental income and the resale value by creating a more spacious and attractive rental unit. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 58,983
• Household income: $52,088
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 2809.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 28% White 16% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 67%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

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: ▼ -52.06%
• Current HPI: 265.2235
• Rent YoY: ▼ -3.36%
• 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

-22.4% since first listed

20 events — show timeline

• 2026-04-24 Price Changed $224,900 LERA
• 2026-04-14 Relisted — LERA
• 2026-04-11 Listing Removed — LERA
• 2026-02-10 Price Changed $229,900 LERA
• 2026-01-15 Price Changed $234,900 LERA
• 2026-01-09 Price Changed $236,000 LERA
• 2025-11-17 Listed $237,000 LERA
• 2025-09-30 Listing Removed — LERA
• 2025-08-01 Price Changed $248,400 LERA
• 2025-07-24 Price Changed $248,900 LERA
• 2025-06-18 Price Changed $249,000 LERA
• 2025-05-27 Price Changed $257,000 LERA
• 2025-05-01 Price Changed $258,000 LERA
• 2025-04-21 Price Changed $259,000 LERA
• 2025-04-06 Price Changed $265,000 LERA
• 2025-04-03 Relisted — LERA
• 2025-04-01 Listing Removed — LERA
• 2025-01-31 Price Changed $275,000 LERA
• 2025-01-09 Price Changed $285,000 LERA
• 2024-11-14 Listed $290,000 LERA