115-117 West Dr · Val Verde Park, TX 78840

$124,000

2 bd · 1.0 ba · 1,305 sqft · SingleFamily public records · 180 Days on market

Built 1976 $95/sqft · 28% below area Est $172k · 28% under ↓ 17% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two Lots – Endless Potential in Val Verde! This cozy home sits on two spacious lots, each measuring 0.43 acres, giving you almost one acre to make your own. Located just outside of city limits, the property offers plenty of flexibility. Keep the existing small home and update it to your liking, or take advantage of the extra space to build a second home, place a mobile home, or expand your outdoor living. Being sold as-is, this property is a blank canvas with room to grow—perfect for those looking for space, opportunity, and potential in Val Verde.

Key facts

• Two lots
• Spacious lots
• Outdoor living

Tags

• TWO LOTS
• SPACIOUS LOTS
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#572 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• San Felipe-Del Rio CISD (town): math 25% / reading 32% proficiency, ranked #667 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 549 active listings in the ZIP; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Val Verde County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (median comp): $172,069
• List price: $124,000
• Delta: -27.94%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.72×
• Total profit: $-9,866
• Equity at exit: $18,489

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-394
• Equity at exit: $10,721

Cash invested: $34,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 78840

• Home prices YoY: -33.6%
• Rents YoY: 1.6%
• Active inventory: 549
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $190

Break-even live

Break-even rent $1,040

Max offer price $124,000

Occupancy floor 80%

Sensitivity live

Price	-10% $260	-5% $225	+0% $190	+5% $154	+10% $119
Rent	-10% $88	-5% $139	+0% $190	+5% $240	+10% $291
Rate	-1.0pp $252	-0.5pp $221	base $190	+0.5pp $157	+1.0pp $125

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $124,000 Active 180 DOM
2. 2026-06-18
   days on market $124,000 Active 179 DOM
3. 2026-06-17
   days on market $124,000 Active 178 DOM
4. 2026-06-16
   days on market $124,000 Active 177 DOM
5. 2026-06-15
   days on market $124,000 Active 176 DOM
6. 2026-06-14
   days on market $124,000 Active 174 DOM
7. 2026-06-12
   days on market $124,000 Active 173 DOM
8. 2026-06-09
   days on market $124,000 Active 170 DOM
9. 2026-06-08
   days on market $124,000 Active 169 DOM
10. 2026-06-07
    days on market $124,000 Active 168 DOM
11. 2026-06-05
    days on market $124,000 Active 165 DOM
12. 2026-06-03
    days on market $124,000 Active 164 DOM
13. 2026-06-02
    days on market $124,000 Active 163 DOM
14. 2026-06-01
    days on market $124,000 Active 162 DOM
15. 2026-05-31
    days on market $124,000 Active 161 DOM
16. 2026-05-30
    days on market $124,000 Active 160 DOM
17. 2026-05-07
    price $124,000 566-char remark

    Show marketing remark (566 chars)

    Two Lots – Endless Potential in Val Verde! This cozy home sits on two spacious lots, each measuring 0.43 acres, giving you almost one acre to make your own. Located just outside of city limits, the property offers plenty of flexibility. Keep the existing small home and update it to your liking, or take advantage of the extra space to build a second home, place a mobile home, or expand your outdoor living. Being sold as-is, this property is a blank canvas with room to grow—perfect for those looking for space, opportunity, and potential in Val Verde.

18. 2026-03-08
    status Active 566-char remark

    Show marketing remark (566 chars)

    Two Lots – Endless Potential in Val Verde! This cozy home sits on two spacious lots, each measuring 0.43 acres, giving you almost one acre to make your own. Located just outside of city limits, the property offers plenty of flexibility. Keep the existing small home and update it to your liking, or take advantage of the extra space to build a second home, place a mobile home, or expand your outdoor living. Being sold as-is, this property is a blank canvas with room to grow—perfect for those looking for space, opportunity, and potential in Val Verde.

19. 2025-12-11
    status Pending 566-char remark

    Show marketing remark (566 chars)

    Two Lots – Endless Potential in Val Verde! This cozy home sits on two spacious lots, each measuring 0.43 acres, giving you almost one acre to make your own. Located just outside of city limits, the property offers plenty of flexibility. Keep the existing small home and update it to your liking, or take advantage of the extra space to build a second home, place a mobile home, or expand your outdoor living. Being sold as-is, this property is a blank canvas with room to grow—perfect for those looking for space, opportunity, and potential in Val Verde.

20. 2025-10-24
    price $139,000 566-char remark

    Show marketing remark (566 chars)

    Two Lots – Endless Potential in Val Verde! This cozy home sits on two spacious lots, each measuring 0.43 acres, giving you almost one acre to make your own. Located just outside of city limits, the property offers plenty of flexibility. Keep the existing small home and update it to your liking, or take advantage of the extra space to build a second home, place a mobile home, or expand your outdoor living. Being sold as-is, this property is a blank canvas with room to grow—perfect for those looking for space, opportunity, and potential in Val Verde.

21. 2025-09-22
    listed $149,000 Active 566-char remark

    Show marketing remark (566 chars)

    Two Lots – Endless Potential in Val Verde! This cozy home sits on two spacious lots, each measuring 0.43 acres, giving you almost one acre to make your own. Located just outside of city limits, the property offers plenty of flexibility. Keep the existing small home and update it to your liking, or take advantage of the extra space to build a second home, place a mobile home, or expand your outdoor living. Being sold as-is, this property is a blank canvas with room to grow—perfect for those looking for space, opportunity, and potential in Val Verde.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,435 · $120/mo
• Projected year-2 tax: $2,269 · $189/mo
• Expected delta: +$834/yr (+$70/mo · 58.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,357
• − Mortgage interest: −$6,946
• − Property taxes: −$1,435
• − Insurance: −$620
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$3,607
• Taxable income: $292
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $2,204/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Felipe-Del Rio CISD
• NCES district ID: 4838900
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $40,582
• Composite: 24.04/100
• National rank: #7766
• State rank: #667 of 826 in TX

Livability — Val Verde Park

• Score: 67/100
• State rank: #572
• US rank: #10817

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment C Housing A+ Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Val Verde Park, TX
• County: Val Verde County · 47,256 people
• Metro: Del Rio, TX
• Population (ZIP): 47,256
• Household income: $66,084
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1111.0

Population outlook (Val Verde County) Hauer SSP2

• Today (2025): 48,073 people
• By 2030: 47,468 · -1.3%
• By 2040: 45,930 · -4.5%
• By 2050: 43,904 · -8.7%
• By 2075: 38,126 · -20.7%
• By 2100: 26,217 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 24% White 15% Black 1%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada
• Languages at home: 36% English-only · Spanish 63%

Political lean MEDSL · Val Verde

• 2024 margin: Strong R (+26.6) · D 36.2% · R 62.9%
• 2008→2024 swing: -36.2pp toward R · 2008: 9.6pp · 2024: -26.6pp
• All cycles: 2024: R+26.6 2020: R+9.9 2016: D+7.9 2012: D+5.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.95%
• Current HPI: 161.762
• Rent YoY: ▲ 1.55%
• Metro: Del Rio, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-16.8% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $124,000 DRBORMLS
• 2026-03-08 Relisted — DRBORMLS
• 2025-12-11 Pending — DRBORMLS
• 2025-10-24 Price Changed $139,000 DRBORMLS
• 2025-09-22 Listed $149,000 DRBORMLS

Property tax history

+2.5%/yr

Latest (2025): $1,435 · +10.2% YoY. Source: county tax records.