Honestly? At the $499,000 asking price, the math doesn't check out for a flip. Our data shows a market value ceiling of around $506,000. Once you factor in renovation costs, carrying fees, and the ~10% cost to sell, your profit disappears.
However, here is the silver lining: this is a bank-owned (REO) property that has been sitting for 267 days. Banks hate stale inventory. This isn't a flip at asking price; it’s a negotiation play. If you can leverage that 'days on market' count to snag this in the low $400s, the story changes completely.
The Edge: Use the 267-day age to justify a lowball offer.
The Asset: 5-bedroom homes on greenbelt lots in gated communities are gold for resale.
Plan B: If the flip margins stay thin, it’s a killer rental. Nearby homes pull $3,100/mo, offering a safety net if the market shifts.
| Property Fact | Details |
| :--- | :--- |
| List Price | $499,000 |
| Est. Market Value | ~$506,000 |
| Days on Zillow | 267 Days |
| Ownership | REO (Bank Owned) |
Unless you can negotiate the purchase price down significantly, I'd pass on the flip and look at this as a long-term rental hold instead. You want to make your money on the buy, not just the polish!
1031 Starlit Pond, San Antonio Investment Report: Flip & Rental Analysis · Frontflip