612 vz County Road 4514 · Van, TX 75754

$109,900

3 bd · 2.0 ba · 800 sqft · SingleFamily public records · 73 Days on market

Built 1957 0.74 ac lot $137/sqft · 13% below area Est $174k · 37% under ↓ 8% 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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Appreciation +5.4/10.0
• 1% rule +3.9/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Not one, but two homes tucked away in a private setting just minutes from town! Welcome to 612 and 690 VZ CR 4514 in Ben Wheeler, offering a unique opportunity for multi-generational living or investment potential. The main home features a 2-bedroom, 1-bath floor plan with recent bathroom renovations and a spacious covered front porch, perfect for relaxing or entertaining. Situated on over . 7 acres, the property is surrounded by pasture and brush, creating a peaceful and private atmosphere. The home is serviced by a septic system and Ben Wheeler Water. Just behind the main home, you’ll find RV hookups complete with a dedicated electric pole and septic connection, ideal for guests or extended stays. The second residence, also a 2-bedroom, 1-bath home, offers incredible flexibility as a short-term or long-term rental, guest house, or additional income-producing property. With separate utilities and its own parcel, there’s also the option to sell individually once the renovations are completed. A shared driveway provides access to both homes as an access easement. Whether you’re looking to invest, expand your portfolio, or create a private homestead with income potential, this property delivers versatility and opportunity with room to make it your own.

Key facts

• 0.74 acre lot
• Built 1957
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (10.5% below list).
• Recommended offer: $98k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.3% in Van — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#505 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D+, amenities F.
• Van ISD (rural): math 40% / reading 42% proficiency, ranked #390 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($760 loan paydown + $781 appreciation (0.7% local appreciation)).
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,338 (10.5% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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 D-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: 0.89% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• GRM: 9.3

CMA / ARV

• ARV (median comp): $173,627
• List price: $109,900
• Delta: -36.70%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

0.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.20×
• Total profit: $6,249
• Equity at exit: $35,871

10-year hold

• IRR: 8.7%
• Equity multiple: 2.02×
• Total profit: $31,506
• Equity at exit: $46,420

Cash invested: $30,772 (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 75754

• Home prices YoY: 0.3%
• Active inventory: 96
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $983 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$64 /mo · $769/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $91

Break-even live

Break-even rent $869

Max offer price $109,900

Occupancy floor 86%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $109,900 Active 73 DOM
2. 2026-06-18
   days on market $109,900 Active 72 DOM
3. 2026-06-17
   days on market $109,900 Active 71 DOM
4. 2026-06-16
   days on market $109,900 Active 70 DOM
5. 2026-06-15
   days on market $109,900 Active 69 DOM
6. 2026-06-14
   days on market $109,900 Active 67 DOM
7. 2026-06-13
   days on market $109,900 Active 66 DOM
8. 2026-06-10
   days on market $109,900 Active 64 DOM
9. 2026-06-09
   days on market $109,900 Active 63 DOM
10. 2026-06-08
    days on market $109,900 Active 62 DOM
11. 2026-06-07
    days on market $109,900 Active 61 DOM
12. 2026-06-02
    days on market $109,900 Active 56 DOM
13. 2026-06-01
    days on market $109,900 Active 55 DOM
14. 2026-05-31
    days on market $109,900 Active 54 DOM
15. 2026-05-30
    days on market $109,900 Active 53 DOM
16. 2026-05-13
    price $109,900 1288-char remark

    Show marketing remark (1288 chars)

    Not one, but two homes tucked away in a private setting just minutes from town! Welcome to 612 and 690 VZ CR 4514 in Ben Wheeler, offering a unique opportunity for multi-generational living or investment potential. The main home features a 2-bedroom, 1-bath floor plan with recent bathroom renovations and a spacious covered front porch, perfect for relaxing or entertaining. Situated on over . 7 acres, the property is surrounded by pasture and brush, creating a peaceful and private atmosphere. The home is serviced by a septic system and Ben Wheeler Water. Just behind the main home, you’ll find RV hookups complete with a dedicated electric pole and septic connection, ideal for guests or extended stays. The second residence, also a 2-bedroom, 1-bath home, offers incredible flexibility as a short-term or long-term rental, guest house, or additional income-producing property. With separate utilities and its own parcel, there’s also the option to sell individually once the renovations are completed. A shared driveway provides access to both homes as an access easement. Whether you’re looking to invest, expand your portfolio, or create a private homestead with income potential, this property delivers versatility and opportunity with room to make it your own.

17. 2026-04-07
    listed $119,000 Active 1288-char remark

    Show marketing remark (1288 chars)

    Not one, but two homes tucked away in a private setting just minutes from town! Welcome to 612 and 690 VZ CR 4514 in Ben Wheeler, offering a unique opportunity for multi-generational living or investment potential. The main home features a 2-bedroom, 1-bath floor plan with recent bathroom renovations and a spacious covered front porch, perfect for relaxing or entertaining. Situated on over . 7 acres, the property is surrounded by pasture and brush, creating a peaceful and private atmosphere. The home is serviced by a septic system and Ben Wheeler Water. Just behind the main home, you’ll find RV hookups complete with a dedicated electric pole and septic connection, ideal for guests or extended stays. The second residence, also a 2-bedroom, 1-bath home, offers incredible flexibility as a short-term or long-term rental, guest house, or additional income-producing property. With separate utilities and its own parcel, there’s also the option to sell individually once the renovations are completed. A shared driveway provides access to both homes as an access easement. Whether you’re looking to invest, expand your portfolio, or create a private homestead with income potential, this property delivers versatility and opportunity with room to make it your own.

18. 2010-01-28
    soldstatus
19. 2006-10-12
    soldstatus
20. 2006-08-17
    soldstatus
21. 2004-12-20
    soldstatus
22. 1986-12-31
    soldstatus

ⓘ 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: $769 · $64/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$1,242/yr (+$103/mo · 161.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,801
• − Mortgage interest: −$6,156
• − Property taxes: −$769
• − Insurance: −$550
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$3,197
• Taxable loss: −$760
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $1,270/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: Van ISD
• NCES district ID: 4843920
• Math proficiency: 40% ▼ -8.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $44,308
• Composite: 34.78/100
• National rank: #5120
• State rank: #390 of 826 in TX

Livability — Van

• Score: 68/100
• State rank: #505
• US rank: #9995

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,790
• Population (ZIP): 7,297

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Black 5% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.71%
• Current HPI: 227.6206
• Rent YoY: —
• Metro: —
• 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

-7.6% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $109,900 GTAR
• 2026-04-07 Listed $119,000 GTAR
• 2010-01-28 Sold (Public Records) — Public Records
• 2006-10-12 Sold (Public Records) — Public Records
• 2006-08-17 Sold (Public Records) — Public Records
• 2004-12-20 Sold (Public Records) — Public Records
• 1986-12-31 Sold (Public Records) — Public Records

Property tax history

-0.5%/yr

Latest (2025): $769 · +6.9% YoY. Source: county tax records.