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Days99Days on Market
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$98,999

123 Gray St, San Antonio, TX, 78208

$126,611 ARVInfo
On MarketInfo
Beds2 Beds
Baths2 Bath
Baths800 Sq Ft
price_per_sqft$123.75 / sqft
Year BuiltBuilt in 1948

Property Lead Type:

Deal ListAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 1Bathrooms Full 1
Bathrooms Half 1Bathrooms Half 1
Heating Floor/WallHeating Floor/Wall
FlooringCarpet

Exterior

Lot Size7,600 sqft

Building Information

Year Built1948
Stories1
Roof Type112

Land Information

APN01165-001-0240
Lot Number24
SubdivisionGovernment Hill
Land UseResidential
Legal DescriptionNCB 1165 BLK W 1/2 F LOT 24
Census Tract130700
Assessed Land Value$92,110
Assessed Improvement Value$86,870
Assessment Year2025

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.

Investor Tools

$0Estimated Mortgage Balance
$178,980Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$126,611
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,074 /month
Positive
Cash Flow Estimate:
$358 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$82/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$87
$178,980
2025
$92,110
$86,870
$178,980
No

Tax History

Year
Tax Paid
Assessed Value
2024
$87
$178,980

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$178,980
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,057/mo
N/A
+$1,057/mo
7.1%

Learn About the Market: Opportunity in San Antonio

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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.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.4%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$255,200

Unemployment Rate

Unemployment Rate

3.80%

Price Trend

Price Trend

~3–5% YoY growth

New Permits

New Permits

~3,200 units

City: San Antonio

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123 Gray St | Property Details | No Agent List