1064 Indian Gap · Quitman, TX 75783

$80,000

2 bd · 2.0 ba · 840 sqft · SingleFamily public records · 195 Days on market

Built 1997 4,792 sqft lot $95/sqft · 57% below area $50/mo HOA · 4% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable housing is hard to find these days. Here is your opportunity to live in the gated community of Holiday Villages at Lake Fork at that affordable price. Inside, you will find a comfortable living space. With 2 bedrooms and 2 full baths, you and your guest will have their own living space. The kitchen is well equipped with a stove, dishwasher and range. The living area is a nice size with plenty of room for your furniture. The laundry room comes with a nice washer and dryer and some extra room to hang your freshly laundered cloths. The home has central heat and air, community water and sewer. If you like to fish, Lake Fork is the number one bass fishing lake in the state of Texas. Wake up and sit on the front porch with your cup of Java and take in the beauty of Lake Fork with this lake view home. Come take a look at this home and all it affords those desiring to live in a secure gated community. Holiday Villages is approximately 5 miles from the Wood County seat of Quitman where you will find a grocery store, pharmacy, auto dealership, hardware stores, churches of all denominations, assisted living facilities, and a top-notch school system among numerous others. Schedule your appointment to see this home before it's gone.

Key facts

• Lake view home
• 4,792 sq ft lot
• Built 1997

Tags

• LAKE VIEW HOME
• WELL EQUIPPED KITCHEN
• COMFORTABLE LIVING SPACE
• COMMUNITY WATER AND SEWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.9% in Quitman — 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 76/100 on livability (#106 in TX, #3,504 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Quitman ISD (town): math 36% / reading 47% proficiency, ranked #381 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quitman El (math 40% / reading 43%, grade F, #1,437 of 4,322 statewide, top 34%, 581 students, 64% FRL); Quitman J H (math 38% / reading 44%, grade F, #613 of 1,662 statewide, top 38%, 270 students, 58% FRL); Quitman H S (math 22% / reading 62%, grade F, #730 of 1,632 statewide, top 47%, 365 students, 53% FRL).
• Market conditions: 207 active listings in the ZIP; 72 units permitted in Wood County in 2024 (29 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.85%
• DSCR: 1.84
• GRM: 5.4

CMA / ARV

• ARV (median comp): $185,772
• List price: $80,000
• Delta: -56.94%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
679 Indian Gap	0.28mi	2/1.0	750 (-11%)	21mo	$140,000	$187	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 10.7%
• Equity multiple: 1.42×
• Total profit: $9,506
• Equity at exit: $11,928

10-year hold

• IRR: 19.8%
• Equity multiple: 2.67×
• Total profit: $37,369
• Equity at exit: $6,917

Cash invested: $22,400 (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 75783

• Home prices YoY: -9.6%
• Active inventory: 207
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$112 /mo · $1,350/yr
• Insurance: −$33
• HOA: −$50
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $352

Break-even live

Break-even rent $779

Max offer price $80,000

Occupancy floor 66%

Sensitivity live

Price	-10% $397	-5% $375	+0% $352	+5% $329	+10% $307
Rent	-10% $255	-5% $304	+0% $352	+5% $400	+10% $449
Rate	-1.0pp $392	-0.5pp $372	base $352	+0.5pp $331	+1.0pp $310

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: watersewersecurity

Listing history 40 events

1. 2026-06-21
   days on market $80,000 Active 195 DOM
2. 2026-06-21
   days on market $80,000 Active 194 DOM
3. 2026-06-18
   days on market $80,000 Active 192 DOM
4. 2026-06-17
   days on market $80,000 Active 191 DOM
5. 2026-06-16
   days on market $80,000 Active 190 DOM
6. 2026-06-15
   days on market $80,000 Active 189 DOM
7. 2026-06-15
   days on market $80,000 Active 188 DOM
8. 2026-06-13
   days on market $80,000 Active 187 DOM
9. 2026-06-12
   days on market $80,000 Active 186 DOM
10. 2026-06-09
    days on market $80,000 Active 183 DOM
11. 2026-06-08
    days on market $80,000 Active 182 DOM
12. 2026-06-08
    days on market $80,000 Active 181 DOM
13. 2026-06-07
    days on market $80,000 Active 180 DOM
14. 2026-06-03
    pricedays on market $80,000 Active 177 DOM
15. 2026-06-02
    days on market $85,000 Active 176 DOM
16. 2026-06-01
    days on market $85,000 Active 175 DOM
17. 2026-05-31
    days on market $85,000 Active 174 DOM
18. 2026-04-07
    price $85,000 1250-char remark

    Show marketing remark (1250 chars)

    Affordable housing is hard to find these days. Here is your opportunity to live in the gated community of Holiday Villages at Lake Fork at that affordable price. Inside, you will find a comfortable living space. With 2 bedrooms and 2 full baths, you and your guest will have their own living space. The kitchen is well equipped with a stove, dishwasher and range. The living area is a nice size with plenty of room for your furniture. The laundry room comes with a nice washer and dryer and some extra room to hang your freshly laundered cloths. The home has central heat and air, community water and sewer. If you like to fish, Lake Fork is the number one bass fishing lake in the state of Texas. Wake up and sit on the front porch with your cup of Java and take in the beauty of Lake Fork with this lake view home. Come take a look at this home and all it affords those desiring to live in a secure gated community. Holiday Villages is approximately 5 miles from the Wood County seat of Quitman where you will find a grocery store, pharmacy, auto dealership, hardware stores, churches of all denominations, assisted living facilities, and a top-notch school system among numerous others. Schedule your appointment to see this home before it's gone.

19. 2026-02-28
    price $89,900 1250-char remark

    Show marketing remark (1250 chars)

    Affordable housing is hard to find these days. Here is your opportunity to live in the gated community of Holiday Villages at Lake Fork at that affordable price. Inside, you will find a comfortable living space. With 2 bedrooms and 2 full baths, you and your guest will have their own living space. The kitchen is well equipped with a stove, dishwasher and range. The living area is a nice size with plenty of room for your furniture. The laundry room comes with a nice washer and dryer and some extra room to hang your freshly laundered cloths. The home has central heat and air, community water and sewer. If you like to fish, Lake Fork is the number one bass fishing lake in the state of Texas. Wake up and sit on the front porch with your cup of Java and take in the beauty of Lake Fork with this lake view home. Come take a look at this home and all it affords those desiring to live in a secure gated community. Holiday Villages is approximately 5 miles from the Wood County seat of Quitman where you will find a grocery store, pharmacy, auto dealership, hardware stores, churches of all denominations, assisted living facilities, and a top-notch school system among numerous others. Schedule your appointment to see this home before it's gone.

20. 2025-12-08
    listed $99,900 Active 1250-char remark

    Show marketing remark (1250 chars)

    Affordable housing is hard to find these days. Here is your opportunity to live in the gated community of Holiday Villages at Lake Fork at that affordable price. Inside, you will find a comfortable living space. With 2 bedrooms and 2 full baths, you and your guest will have their own living space. The kitchen is well equipped with a stove, dishwasher and range. The living area is a nice size with plenty of room for your furniture. The laundry room comes with a nice washer and dryer and some extra room to hang your freshly laundered cloths. The home has central heat and air, community water and sewer. If you like to fish, Lake Fork is the number one bass fishing lake in the state of Texas. Wake up and sit on the front porch with your cup of Java and take in the beauty of Lake Fork with this lake view home. Come take a look at this home and all it affords those desiring to live in a secure gated community. Holiday Villages is approximately 5 miles from the Wood County seat of Quitman where you will find a grocery store, pharmacy, auto dealership, hardware stores, churches of all denominations, assisted living facilities, and a top-notch school system among numerous others. Schedule your appointment to see this home before it's gone.

21. 2023-12-28
    soldstatus
22. 2023-06-15
    historical
23. 2023-03-30
    price $119,900
24. 2023-03-29
    status Active
25. 2023-03-28
    status Pending
26. 2023-03-23
    historical Active Option Contract
27. 2023-03-13
    price $149,900
28. 2023-03-11
    price $159,900
29. 2023-01-24
    listed $169,900 Active
30. 2021-05-11
    soldstatus
31. 2021-05-10
    soldstatus Sold
32. 2021-04-13
    status Pending
33. 2021-04-10
    price $49,900
34. 2021-04-02
    price $53,500
35. 2021-03-26
    price $54,400
36. 2021-03-17
    price $54,500
37. 2021-03-17
    status Active
38. 2021-03-14
    status Pending
39. 2021-03-08
    listed $54,900 Active
40. 2020-09-10
    soldstatus $58,000

ⓘ 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: $1,350 · $112/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$114/yr (+$10/mo · 8.5%)

ⓘ 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 ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $14,692
• − Mortgage interest: −$4,481
• − Property taxes: −$1,350
• − Insurance: −$400
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − HOA: −$600
• − Depreciation: −$2,327
• Taxable income: $3,183
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $3,459/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: Quitman ISD
• NCES district ID: 4836300
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $42,081
• Composite: 34.94/100
• National rank: #5063
• State rank: #381 of 826 in TX

Livability — Quitman

• Score: 76/100
• State rank: #106
• US rank: #3504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,011

Population outlook (Wood County) Hauer SSP2

• Today (2025): 46,480 people
• By 2030: 47,796 · +2.8%
• By 2040: 50,142 · +7.9%
• By 2050: 52,122 · +12.1%
• By 2075: 57,033 · +22.7%
• By 2100: 56,418 · +21.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 3% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.6%
• 2008→2024 swing: -15.5pp toward R · 2008: -54.2pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+70.0 2012: R+64.2 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.83%
• Current HPI: 234.4883
• 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

+46.6% since first listed

23 events — show timeline

• 2026-04-07 Price Changed $85,000 GTAR
• 2026-02-28 Price Changed $89,900 GTAR
• 2025-12-08 Listed $99,900 GTAR
• 2023-12-28 Sold (Public Records) — Public Records
• 2023-06-15 Listing Removed — NTREIS
• 2023-03-30 Price Changed $119,900 NTREIS
• 2023-03-29 Relisted — NTREIS
• 2023-03-28 Pending — NTREIS
• 2023-03-23 Contingent — NTREIS
• 2023-03-13 Price Changed $149,900 NTREIS
• 2023-03-11 Price Changed $159,900 NTREIS
• 2023-01-24 Listed $169,900 NTREIS
• 2021-05-11 Sold (Public Records) — Public Records
• 2021-05-10 Sold (MLS) — NTREIS
• 2021-04-13 Pending — NTREIS
• 2021-04-10 Price Changed $49,900 NTREIS
• 2021-04-02 Price Changed $53,500 NTREIS
• 2021-03-26 Price Changed $54,400 NTREIS
• 2021-03-17 Price Changed $54,500 NTREIS
• 2021-03-17 Relisted — NTREIS
• 2021-03-14 Pending — NTREIS
• 2021-03-08 Listed $54,900 NTREIS
• 2020-09-10 Sold (Public Records) $58,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,350 · +30.1% YoY. Source: county tax records.