415 Dorie · San Antonio, TX 78220

$129,000

3 bd · 2.0 ba · 1,292 sqft · SingleFamily public records · 172 Days on market

Built 1968 6,011 sqft lot $100/sqft · 31% below area Est $188k · 31% 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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• Appreciation +10.0/10.0
• 1% rule +5.3/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Investment opportunity close to downtown San Antonio. Large home with Ac unit already installed. A blank canvas ready for the creative investor. This home is right off IH 10 and is 10 minutes from Downtown San Antonio Fort San Houston and BAMC.

Key facts

• 6,011 sq ft lot
• Built 1968
• Listed 172 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $-1 ($-7/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (0.1% below list).
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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; 113 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).
• This rent runs 38% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $14k of equity ($892 loan paydown + $13k 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 + 0.5% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $129k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• 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 $113,520 (12.0% 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. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.03% ✓
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• GRM: 8.1

CMA / ARV

• ARV (median comp): $187,789
• List price: $129,000
• Delta: -31.31%
• 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
558 Ferris	0.13mi	4/1.0 (+1)	1,296 (+0%)	3mo	$194,500	$150	82
329 Dorie St	0.20mi	3/2.0	1,200 (-7%)	8mo	$99,500	$83	72
610 Corliss	0.19mi	4/2.0 (+1)	1,400 (+8%)	2mo	$65,000	$46	71
237 Corliss	0.69mi	3/2.0	1,296 (+0%)	4mo	$195,000	$150	64
927 H	0.56mi	4/1.5 (+1)	1,295 (+0%)	4mo	$151,000	$117	63
230 Corliss	0.70mi	3/1.5	1,296 (+0%)	5mo	$189,900	$147	61
3006 Martin Luther King	0.74mi	3/2.0	1,275 (-1%)	7mo	$199,999	$157	58
607 Dorie St	0.27mi	3/1.0	1,111 (-14%)	6mo	$115,000	$104	55
426 Edna Ave	0.68mi	3/1.0	1,361 (+5%)	10mo	$135,000	$99	47
370 Sterling	0.58mi	3/1.0	1,155 (-11%)	5mo	$105,000	$91	47
451 Hub	0.64mi	4/1.5 (+1)	1,408 (+9%)	2mo	$163,000	$116	47
234 Ferris	0.68mi	3/1.0	1,104 (-15%)	7mo	$115,000	$104	34

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 · 0.53% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.86×
• Total profit: $67,120
• Equity at exit: $116,213

10-year hold

• IRR: 20.1%
• Equity multiple: 6.32×
• Total profit: $192,032
• Equity at exit: $250,619

Cash invested: $36,120 (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 78220

• Home prices YoY: 9.1%
• Rents YoY: 0.5%
• Active inventory: 113
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,325 high
• Mortgage (P&I): −$676
• Tax from tax record: −$317 /mo · $3,806/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-1

Break-even live

Break-even rent $1,326

Max offer price $128,891

Occupancy floor 95%

Sensitivity live

Price	-10% $72	-5% $36	+0% $-1	+5% $-37	+10% $-74
Rent	-10% $-105	-5% $-53	+0% $-1	+5% $52	+10% $104
Rate	-1.0pp $64	-0.5pp $32	base $-1	+0.5pp $-34	+1.0pp $-68

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3318 Martin Luther King Dr San Antonio, TX	3.0	2.0	909	$975	$1.07	44d	1	0.15mi
3327 Martin Luther King Dr Unit a San Antonio, TX	3.0	2.0	876	$915	$1.04	2d	1	0.16mi
738 Sterling St San Antonio, TX	4.0	1.0	1038	$1,095	$1.05	5d	1	0.17mi
547 Dorie St San Antonio, TX	3.0	2.0	909	$1,135	$1.25	22d	1	0.18mi
3259 Martin Luther King Dr San Antonio, TX	3.0	2.0	909	$1,149	$1.26	5d	1	0.26mi
458 Ferris Ave San Antonio, TX	3.0	2.0	909	$1,380	$1.52	2d	1	0.27mi
302 Dorie St San Antonio, TX	3.0	2.0	1028	$1,285	$1.25	22d	1	0.29mi
1311 W Hein Rd Unit 4 San Antonio, TX	2.0	2.0	1000	$1,000	$1.00	44d	1	0.53mi
1311 W Hein Rd Unit 18 San Antonio, TX	2.0	1.5	900	$895	$0.99	44d	1	0.53mi
323 Ferris Ave San Antonio, TX	3.0	2.0	1298	$1,450	$1.12	2d	1	0.54mi
610 Pecan Valley Dr San Antonio, TX	3.0	1.0	1287	$1,650	$1.28	44d	1	0.55mi
311 Ferris Ave San Antonio, TX	3.0	2.0	909	$1,245	$1.37	5d	1	0.57mi
239 Ferris Ave San Antonio, TX	3.0	2.0	909	$1,249	$1.37	44d	1	0.70mi
3030 Martin Luther King Dr San Antonio, TX	3.0	1.0	938	$1,295	$1.38	24d	1	0.70mi
262 Orchard Rd San Antonio, TX	3.0	1.0	1134	$1,250	$1.10	44d	1	0.75mi
231 Noblewood Dr San Antonio, TX	1.0–4.0	1.0–2.0	1084	$1,387	$1.28	24d	1	0.81mi
406 Como St San Antonio, TX	3.0	1.5	1278	$1,350	$1.06	44d	1	0.85mi
154 Ferris Ave San Antonio, TX	3.0	2.0	1438	$1,499	$1.04	44d	1	0.85mi
154 Ferris Ave San Antonio, TX	3.0	2.0	1438	$1,275	$0.89	22d	1	0.85mi
164 Day Rd San Antonio, TX	3.0	2.5	1250	$1,667	$1.33	24d	1	0.89mi
368 Readwell Dr San Antonio, TX	3.0	1.0	1067	$1,200	$1.12	44d	1	0.91mi
215 Edna Ave San Antonio, TX	2.0	1.0	968	$1,260	$1.30	44d	1	0.93mi
817 Cresthill Rd San Antonio, TX	3.0	1.0	950	$1,300	$1.37	44d	1	0.94mi
723 Sewanee St San Antonio, TX	3.0	2.0	1028	$1,264	$1.23	13d	1	0.96mi
4319 Algruth Dr San Antonio, TX	3.0	2.0	1021	$1,800	$1.76	24d	1	0.99mi
2018 E Drexel Ave San Antonio, TX	3.0	2.0	1268	$1,750	$1.38	24d	1	1.00mi
3815 E Commerce St San Antonio, TX	3.0	1.0–2.0	872	$1,530	$1.75	4d	60	1.03mi
311 Spriggsdale Ave Unit 710 San Antonio, TX	2.0	2.0	890	$981	$1.10	3d	1	1.04mi
302 Kenmar Dr San Antonio, TX	3.0	1.0	970	$1,375	$1.42	24d	1	1.07mi
334 Tomrob Dr San Antonio, TX	3.0	1.0	1064	$1,300	$1.22	15d	1	1.09mi
2027 Leesburg St San Antonio, TX	3.0	2.0	1506	$1,545	$1.03	44d	1	1.14mi
918 Hampton St Unit 1 San Antonio, TX	3.0	1.0	912	$975	$1.07	44d	1	1.15mi
2906 Lavender Ln San Antonio, TX	3.0	2.5	1247	$1,595	$1.28	17d	1	1.17mi
3400 Roland Rd San Antonio, TX	1.0–2.0	1.0	769	$999	$1.30	22d	1	1.25mi
111 Quinta St San Antonio, TX	3.0	2.0	909	$1,295	$1.42	2d	1	1.28mi
143 Ranger Unit 101 San Antonio, TX	3.0	2.0	876	$1,099	$1.25	2d	1	1.29mi
4519 Creekmoor Dr San Antonio, TX	3.0	2.0	1239	$1,395	$1.13	12d	1	1.29mi
4610 Lavender Ln San Antonio, TX	3.0	2.0	1337	$1,400	$1.05	24d	1	1.36mi
4606 Hollyspring Dr San Antonio, TX	3.0	2.0	1098	$1,400	$1.28	24d	1	1.42mi
4835 Lord Rd Unit 710 San Antonio, TX	2.0	2.0	949	$874	$0.92	3d	1	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $129,000 Active 172 DOM
2. 2026-06-17
   days on market $129,000 Active 171 DOM
3. 2026-06-16
   days on market $129,000 Active 170 DOM
4. 2026-06-15
   days on market $129,000 Active 169 DOM
5. 2026-06-13
   days on market $129,000 Active 167 DOM
6. 2026-06-09
   days on market $129,000 Active 163 DOM
7. 2026-06-08
   days on market $129,000 Active 162 DOM
8. 2026-06-07
   days on market $129,000 Active 161 DOM
9. 2026-06-04
   days on market $129,000 Active 158 DOM
10. 2026-06-03
    days on market $129,000 Active 157 DOM
11. 2026-06-02
    days on market $129,000 Active 156 DOM
12. 2026-06-01
    days on market $129,000 Active 155 DOM
13. 2026-05-31
    days on market $129,000 Active 154 DOM
14. 2026-01-06
    price $129,000 246-char remark

    Show marketing remark (246 chars)

    Investment opportunity close to downtown San Antonio. Large home with Ac unit already installed. A blank canvas ready for the creative investor. This home is right off IH 10 and is 10 minutes from Downtown San Antonio Fort San Houston and BAMC.

15. 2025-12-28
    listed $139,000 New 246-char remark

    Show marketing remark (246 chars)

    Investment opportunity close to downtown San Antonio. Large home with Ac unit already installed. A blank canvas ready for the creative investor. This home is right off IH 10 and is 10 minutes from Downtown San Antonio Fort San Houston and BAMC.

16. 2006-10-10
    soldstatus
17. 2006-03-06
    soldstatus
18. 1997-05-20
    soldstatus $37,240
19. 1978-03-01
    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: $3,806 · $317/mo
• Projected year-2 tax: $3,806 · $317/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 2/10 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,900
• − Mortgage interest: −$7,226
• − Property taxes: −$3,806
• − Insurance: −$645
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$3,753
• Taxable loss: −$2,073
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $490/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): 19,423
• Household income: $41,710
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 705.0

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 (60%)
• Race & ethnicity: Hispanic / Latino 60% Black 30% Two or more races 22% White 8%
• Hispanic origin (detail): Mexican 47% Puerto Rican 1%
• Foreign-born: 11% · Canada
• 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: ▲ 23.86%
• Current HPI: 284.9844
• Rent YoY: ▲ 0.53%
• 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

+246.4% since first listed

6 events — show timeline

• 2026-01-06 Price Changed $129,000 LERA
• 2025-12-28 Listed $139,000 LERA
• 2006-10-10 Sold (Public Records) — Public Records
• 2006-03-06 Sold (Public Records) — Public Records
• 1997-05-20 Sold (Public Records) $37,240 Public Records
• 1978-03-01 Sold (Public Records) — Public Records

Property tax history

+7.6%/yr

Latest (2025): $3,806 · +0.0% YoY. Source: county tax records.