Final answer:
San Felipe succeeded as the capital of Stephen F. Austin's settlement due to its location near a water source and its position along a main road.
Step-by-step explanation:
Two factors that helped San Felipe succeed as the capital of Stephen F. Austin's settlement in the 1820s were its location near a source of water and its position along a main road. Being near a water source provided the necessary resources for survival and agricultural activities, while being along a main road facilitated trade and transportation.
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