3600 Gaston Dr · Midland, TX 79703

$142,400

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 52 Days on market

Built 1952 7,405 sqft lot $198/sqft · 42% above area Est $144k · at est. ↓ 20% 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 +27.0/30.0
• DSCR +9.3/10.0
• ARV discount +7.9/15.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Not your average starter—this one hits that sweet spot of function, location, and upside. This 3-bedroom, 1-bath home offers a practical layout, natural light, and driveway parking for everyday ease. It shows typical wear, giving you room to update and make it your own over time. Positioned near Midland Park Mall for shopping and dining, and close to Beal Park for outdoor space, with quick access to Loop 250 for easy commuting.

Key facts

• Natural light
• Close to beal park
• Driveway parking

Tags

• DRIVEWAY PARKING
• NATURAL LIGHT
• NEAR MIDLAND PARK MALL
• CLOSE TO BEAL PARK
• QUICK ACCESS TO LOOP 250

Property features AI

Finance

• Other: Located in the Permian Estates subdivision

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Single-story
• Construction: Wood siding; Composition roof
• Exterior features: Wood fencing

Interior

• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: Electric water heater; Dryer
• Laundry & utility: Washer hook-ups not listed; dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $138k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.7% in Midland — 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 79/100 on livability (#57 in TX, #2,192 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, commute D+, amenities D.
• Midland ISD (urban): math 34% / reading 36% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alamo J H (math 23% / reading 32%, grade F, #1,156 of 1,662 statewide, top 71%, 865 students, 62% FRL); Legacy H S (math 37% / reading 3%, grade F, #1,397 of 1,632 statewide, top 87%, 2,504 students, 41% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents soft (-0.3%/yr); 64 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Midland County population projected at +83% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,128 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 6.6

CMA / ARV

• ARV (median comp): $143,803
• List price: $142,400
• Delta: -0.98%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-2,929
• Equity at exit: $21,232

10-year hold

• IRR: 4.0%
• Equity multiple: 1.25×
• Total profit: $9,950
• Equity at exit: $12,312

Cash invested: $39,872 (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 79703

• Rents YoY: -0.3%
• Active inventory: 64
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,798 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$216 /mo · $2,597/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $398

Break-even live

Break-even rent $1,294

Max offer price $142,400

Occupancy floor 73%

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: $35,600
• Closing costs: $4,272
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4000 W Illinois Ave Midland, TX	1.0–2.0	1.0–2.0	755	$1,545	$2.05	21d	10	0.55mi
3601 Andrews Hwy Midland, TX	2.0	1.0–2.0	800	$1,615	$2.02	13d	16	1.32mi
4600 Andrews Hwy Midland, TX	1.0–3.0	1.0–2.0	1117	$2,590	$2.32	44d	5	1.47mi

Listing history 22 events

1. 2026-06-19
   days on market $142,400 Active 52 DOM
2. 2026-06-18
   days on market $142,400 Active 51 DOM
3. 2026-06-17
   days on market $142,400 Active 50 DOM
4. 2026-06-16
   days on marketlisting id $142,400 Active 49 DOM
5. 2026-06-15
   pricedays on marketlisting id $142,400 Active 1 DOM
6. 2026-06-15
   days on market $178,000 Active 48 DOM
7. 2026-06-14
   days on market $178,000 Active 46 DOM
8. 2026-06-13
   days on market $178,000 Active 45 DOM
9. 2026-06-10
   days on market $178,000 Active 43 DOM
10. 2026-06-09
    days on market $178,000 Active 42 DOM
11. 2026-06-08
    days on market $178,000 Active 41 DOM
12. 2026-06-07
    days on market $178,000 Active 40 DOM
13. 2026-06-03
    days on market $178,000 Active 36 DOM
14. 2026-06-02
    days on market $178,000 Active 35 DOM
15. 2026-06-01
    days on market $178,000 Active 34 DOM
16. 2026-05-31
    days on market $178,000 Active 33 DOM
17. 2026-05-30
    days on market $178,000 Active 32 DOM
18. 2026-04-28
    listed $178,000 Active 437-char remark
19. 2024-02-08
    soldstatus
20. 2018-03-16
    soldstatus
21. 2013-04-24
    soldstatus
22. 1990-12-28
    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: $2,597 · $216/mo
• Projected year-2 tax: $2,606 · $217/mo
• Expected delta: +$9/yr (+$1/mo · 0.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $21,582
• − Mortgage interest: −$7,977
• − Property taxes: −$2,597
• − Insurance: −$712
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$4,143
• Taxable income: $2,700
• Est. tax owed @ 24.0%: −$648
• After-tax cash flow: $4,131/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: Midland ISD
• NCES district ID: 4830570
• Math proficiency: 34% ▼ -7.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $63,457
• Composite: 31.63/100
• National rank: #5938
• State rank: #477 of 826 in TX

Livability — Midland

• Score: 79/100
• State rank: #57
• US rank: #2192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, TX
• County: Midland County · 168,494 people
• City population: 168,494
• Metro: Midland, TX
• Population (ZIP): 20,419
• Household income: $77,285
• Rent vs Own: 37.9% rent · 62.1% own
• Severe rent burden: 417.0

Population outlook (Midland County) Hauer SSP2

• Today (2025): 220,895 people
• By 2030: 253,667 · +14.8%
• By 2040: 325,498 · +47.4%
• By 2050: 404,168 · +83.0%
• By 2075: 609,802 · +176.1%
• By 2100: 760,172 · +244.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 54% White 34% Two or more races 16% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 45% Cuban 4%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 58% English-only · Spanish 38% Arabic 1% Chinese 1%

Political lean MEDSL · Midland

• 2024 margin: Solid R (+60.5) · D 19.3% · R 79.8%
• 2008→2024 swing: -3.3pp toward R · 2008: -57.3pp · 2024: -60.5pp
• All cycles: 2024: R+60.5 2020: R+56.6 2016: R+55.2 2012: R+61.5 2008: R+57.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.72%
• Current HPI: 224.6222
• Rent YoY: ▼ -0.33%
• Metro: Midland, 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

-20.0% since first listed

6 events — show timeline

• 2026-06-15 Price Changed $142,400 PBBOR
• 2026-04-28 Listed $178,000 PBBOR
• 2024-02-08 Sold (Public Records) — Public Records
• 2018-03-16 Sold (Public Records) — Public Records
• 2013-04-24 Sold (Public Records) — Public Records
• 1990-12-28 Sold (Public Records) — Public Records

Property tax history

+13.8%/yr

Latest (2025): $2,597 · +9.0% YoY. Source: county tax records.