SAN ANTONIO, TX 78220

PURCHASE PRICE: $101,900

BUY IT NOW: $105,000

1,523 SF | SINGLE-FAMILY PROPERTY | CURRENTLY CONFIGURED AS TWO LIVING SPACES | BOTH OCCUPIED

IMPORTANT: This property is legally classified as a SINGLE-FAMILY RESIDENCE, NOT a legally established duplex. All comparable sales and ARV calculations are based exclusively on SINGLE-FAMILY properties.

TWO INCOME STREAMS. ONE SINGLE-FAMILY PROPERTY. MULTIPLE POTENTIAL EXITS.

1022 Stolnet presents an opportunity for investors looking for an income-producing property with underlying single-family resale potential.

Currently configured as two separate living spaces — a 2BR/1BA and a 1BR/1BA — the property is occupied by two month-to-month tenants generating a combined $2,000 per month in actual rent.

At the newly reduced $101,900 purchase price, the numbers are compelling:

• $2,000/MO CURRENT GROSS RENT

• $24,000/YR GROSS RENTAL INCOME

• 23.6% GROSS YIELD AT ASKING PRICE

• 4.25 GROSS RENT MULTIPLIER

• BOTH OCCUPANTS CURRENT ON RENT

• $175K–$190K WORKING SINGLE-FAMILY ARV

The opportunity is the combination of existing rental income and a purchase price substantially below the property's estimated renovated single-family retail value.

This is NOT being marketed or valued as a legal duplex. The existing two-living-space arrangement is a physical configuration, not a representation of approved multifamily use.

THE CURRENT INCOME

Actual Monthly Rents:

2BR/1BA Living Space — $800/month

1BR/1BA Living Space — $1,200/month

TOTAL: $2,000/month | $24,000 annually

Both living spaces currently have their own:

• Kitchen

• Bathroom

• Entrance

Both occupants are on month-to-month arrangements and are reportedly current on rent.

Utilities are currently shared, with the landlord paying water and electric.

Important distinction: These are actual seller-reported rents currently being collected, not projected rents. However, the property is legally classified as single-family, and buyers must independently determine whether the current rental arrangement can lawfully continue.

Gross rental figures are before utilities, maintenance, insurance, taxes, vacancy, management, financing and other operating expenses.

THE REAL VALUE PLAY: SINGLE-FAMILY RESALE POTENTIAL

One of the strongest aspects of this opportunity is the underlying value as a traditional single-family residence.

Conservative Working SFR ARV: $175,000–$190,000

Underwritten Midpoint: $185,000

Our valuation is based on surrounding SINGLE-FAMILY residential sales — not duplexes, multifamily properties or income-based valuations.

Nearby Single-Family Comparable Sales:

4534 Kay Ann 3BR/2BA 1,371 $190,000

4631 Kay Ann3BR/2BA 1,344 $210,099

338 Charcliff Dr3BR/2BA 1,403 $169,999

4603 Lavender3BR/2BA 1,491 $230,000

722 Knotty Oak Trl3BR/2BA 1,548 $229,000

4614 Belinda Lee4BR/2BA 1,612 $224,000

These comparables support evaluating the property through a traditional single-family renovation and retail resale strategy.

At the reduced asking price of $101,900, you're acquiring the property for approximately 55% of the $185,000 working SFR ARV midpoint.

Estimated Full Retail Rehab: $30,000–$40,000

Renovation estimates are preliminary and should be independently verified. Costs associated with restoring a compliant single-family layout, permitting, code requirements or tenant relocation may be additional.

POTENTIAL INVESTMENT STRATEGIES

1. SINGLE-FAMILY RENOVATION / RETAIL RESALE

Evaluate restoring the property to a traditional single-family layout, completing renovations and targeting the surrounding single-family retail market.

This is the basis of our $175K–$190K working ARV and the most straightforward valuation strategy.

2. BUY & HOLD — SUBJECT TO APPROVED USE

The property currently generates $2,000/month in gross rental income.

Investors interested in maintaining the existing rental arrangement should verify with the appropriate local authorities whether the configuration and occupancy are permitted, and what changes or approvals may be required.

The current rental arrangement should not be assumed to be a legally approved two-unit rental operation.

3. VALUE-ADD / BRRRR

Acquire at a discounted basis, evaluate improvements and permitted use, and explore long-term rental or refinancing opportunities.

Any refinance valuation and rental-income treatment will depend on the property's legally permitted use, condition, appraisal and lender requirements.

4. MULTIGENERATIONAL / FLEXIBLE SINGLE-FAMILY LIVING

The existing separate living areas, kitchens, bathrooms and entrances may provide flexibility for buyers interested in multigenerational living or alternative single-family layouts, subject to applicable occupancy, zoning and permitting requirements.

THE NUMBERS AT A GLANCE

Purchase Price $101,900

Buy It Now $105,000

Current Monthly Rent $2,000

Annual Gross Rent $24,000

Gross Yield at Asking23.6%

Gross Rent Multiplier 4.25

Price Per SF $66.91

Working SFR ARV $175,000–$190,000

Underwritten SFR Midpoint $185,000

Estimated Full Retail Rehab$30,000–$40,000

Asking Price / SFR ARV Midpoint 55.1%

The value proposition:

A $101,900 acquisition price against an estimated $185,000 renovated SINGLE-FAMILY value, with $2,000/month in actual rent currently being collected.

PROPERTY DETAILS

• Address: 1022 Stolnet

• Property Type: Single-Family Residence

• Living Area: Approximately 1,523 SF

• Lot Size: Approximately 8,881 SF

• Year Built: 1967

• Public Records: 2BR/2BA Single-Family Residence

• Seller-Reported Current Layout: 3BR/2BA Total

• Current Physical Configuration: 2BR/1BA + 1BR/1BA Living Spaces

• Two Kitchens

• Two Bathrooms

• Separate Entrances

• Both Living Spaces Occupied

• Month-to-Month Tenancies

• Both Occupants Reportedly Current on Rent

• Shared Utilities — Landlord Pays Water and Electric

IMPORTANT ZONING, USE & VALUATION DISCLOSURE

THIS PROPERTY IS A SINGLE-FAMILY RESIDENCE. IT IS NOT BEING REPRESENTED OR SOLD AS A LEGALLY PERMITTED DUPLEX OR TWO-FAMILY PROPERTY.

Public records identify the property as a 2BR/2BA single-family residence.

The seller reports that the property is physically configured as two separate living spaces totaling 3 bedrooms and 2 bathrooms. The seller-provided floor-plan sketch reflects this arrangement.

The existing configuration and separate rental arrangements do not establish legal duplex status, approved multifamily zoning, permitted conversion or authorization for continued occupancy as two independent dwelling units.

ALL COMPARABLE SALES, AFTER-REPAIR VALUE ESTIMATES AND RETAIL EXIT PROJECTIONS ARE BASED ON SINGLE-FAMILY RESIDENTIAL PROPERTIES ONLY.

No duplex or multifamily valuation premium has been included in the working ARV.

Buyers must independently verify zoning, permitted use, building permits, certificate-of-occupancy requirements, current tenancy arrangements, applicable rental restrictions, and any costs necessary to establish a legally compliant use.

No representation is made that the existing two-living-space rental arrangement may legally continue or that conversion to an approved duplex will be permitted.

WHY THIS PROPERTY DESERVES A LOOK

The asking price has been reduced to $101,900, creating a stronger entry point for investors focused on underlying single-family value.

You're looking at:

• Actual current rental income of $2,000/month.

• A $24,000 annual gross rental income history at current rents.

• A discounted acquisition basis of approximately $67/SF.

• A working renovated SFR value of $175K–$190K.

• Multiple potential strategies, depending on permitted use and buyer due diligence.

• An opportunity to evaluate a traditional single-family renovation and retail exit.

The property does not need to qualify as a duplex to support our underlying ARV. The valuation is based on SINGLE-FAMILY comparable sales.

That is the distinction investors should understand.

PRICE REDUCED — BRING YOUR OFFERS

ASKING PRICE: $101,900

BUY IT NOW: $105,000

Cash or hard money preferred. Proof of funds required. Buyer to perform all independent due diligence. Property sold as-is. Existing occupancy and any required possession arrangements to be verified by buyer.

CALL OR TEXT KRISTIN — 480-336-0347