Northwest vs. northeast San Antonio

As a Realtor specializing in rental properties for investors, I spend a lot of time looking at market data on both sales and rentals, both price and days on market, for properties offering comparable features. I compare the sales price to typical rental rates in various neighborhoods, looking for cash flow. Over the last couple of years, I've found that prices for homes in the North East school district, which covers north-central and -east San Antonio, to be a bit lower than they were last year. Several neighborhoods look as if they'd be good prospects for rental investment.

One of the most important factors for successful rental properties is their proximity to major employers. The northeast has access to Washington Mutual headquarters, Fort Sam Houston, Randolph AFB, AT&T headquarters, and downtown businesses and hotels.

The west/northwest has access to USAA, the Medical Center, Lackland AFB, the University of Texas, Valero headquarters, Sea World, Six Flags Fiesta Texas, Clarke checks, and other employers in the Westover Hills area such as Citicorp and World Savings. Up to now, the northwest has been my favorite area for rental properties, especially around the Medical Center/USAA.

Another important factor for both rentals and appreciation is the school district, and more specifically, the high school. Studies have shown that homes in the area of a well-rated high school are more popular, thus appreciating better than comparable homes outside the high school's boundaries. This can be seen in neighborhoods south of Loop 410 in which the dividing line between top-rated Alamo Heights High School and MacArthur High School (well-rated, but not as highly as Alamo Heights) affects families' buying and renting decisions. There is not a gigantic price difference, but it is noticeable.

On the MLS map, the northwest/Northside school district areas include 02,03,04 and 10. Area 05 includes the borderline between Northside and North East, and 06, 14, 15, 16, and 18 are in North East. Alamo Heights is in area 09. If you'd like a copy of the MLS map in GIF format, just let me know.