




$98,999
123 Gray St, San Antonio, TX, 78208
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About this property
Located near the historic Government Hill district, this property offers a great opportunity for homeowners, investors, or developers in one of San Antonio’s growing central areas. The home features 2 bedrooms and 1 full bathroom and can be restored into a comfortable residence or serve as a buy and hold, flip, or development opportunity. The real value is the spacious 7,600 sq ft lot and its development potential. Currently zoned R6, the property allows for the possibility of adding an ADU, creating an opportunity for additional rental income or multigenerational living. The zoning may also present the potential to rezone to R2 to allow for duplex development, making this an attractive option for investors looking to maximize land use. Located near Government Hill and minutes from Downtown San Antonio, The Pearl, Fort Sam Houston, and other military bases. Easy access to I-35, Hwy 281, I-10, and Loop 410. Owner to owner sale available with as little as 10 percent down.
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Learn About the Market: Opportunity in San Antonio




Explore
San Antonio
San Antonio balances deep Texas history with steady modern growth. Home to the Alamo and the River Walk, the city carries cultural gravity — but its economic foundation is anchored in military installations, healthcare networks, cybersecurity, and tourism.
Compared to many peer metros, San Antonio maintains a lower cost of living and more affordable housing, attracting both military families and long-term residents seeking stability. It’s a market defined less by flash and more by durability — steady expansion with strong community roots.
Population Growth
~1.4%
Net Migration
Positive
Median Home Price
$255,200
Unemployment Rate
3.80%
Price Trend
~3–5% YoY growth
New Permits
~3,200 units
City: San Antonio
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These are Deal List properties graded A+, A.
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