1804 W Tennessee Ave · Midland, TX 79701

$215,000

3 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 13 Days on market

Built 1948 9,104 sqft lot Est $215k · at est.

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Why this score? — see what drove the D 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 +14.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Old Midland 3 bed, 2 bath home filled with character and timeless appeal. Inviting curb appeal, mature landscaping, hardwood floors, crown molding, built-ins, and abundant natural light throughout. Spacious living area opens to the dining room and kitchen featuring ample storage, a vintage white stove, and backyard views. Primary suite offers a walk-in closet and private bath. Large laundry room, carport, sprinkler system, water well, and expansive backyard. Conveniently located near downtown, the hospital, stadium, shopping, dining, and schools.

Key facts

• Natural light
• Mature landscaping
• Crown molding

Tags

• MATURE LANDSCAPING
• HARDWOOD FLOORS
• CROWN MOLDING
• BUILT-INS
• NATURAL LIGHT
• AMPLE STORAGE

Property features AI

Finance

• Other: Lot approximately 0.209 acres

Exterior

• Parking: Detached carport; 2 carport spaces
• Security: Security system; Smoke detectors
• Utilities: Public water (also lists well/private); Public sewer
• Home design: Single-family residence; One story; Residential property
• Construction: Composition roof; Slab foundation
• Exterior features: Covered patio; Deck; Wood fencing

Interior

• Kitchen: Electric range; Range
• Flooring: Hardwood; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Built-in bookcases
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $64 ($771/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 $196k (8.8% below list).
• Recommended offer: $196k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Sam Houston Collegiate Preparatory El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 469 students, 64% FRL, charter); San Jacinto J H (math 26% / reading 35%, grade F, #1,036 of 1,662 statewide, top 63%, 829 students, 54% FRL); Midland H S (math 37% / reading 7%, grade F, #1,366 of 1,632 statewide, top 84%, 2,492 students, 44% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 113 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,974 (8.8% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $215,160
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 W Kentucky Ave	0.72mi	3/1.5	1,331 (+1%)	6mo	$217,500	$163	58

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.42×
• Total profit: $-35,077
• Equity at exit: $32,057

10-year hold

• IRR: -13.4%
• Equity multiple: 0.30×
• Total profit: $-42,250
• Equity at exit: $18,589

Cash invested: $60,200 (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 79701

• Rents YoY: 0.7%
• Active inventory: 113
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,960 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$267 /mo · $3,202/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $64

Break-even live

Break-even rent $1,878

Max offer price $215,000

Occupancy floor 92%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 W Tennessee Ave Midland, TX	2.0	1.0	1050	$2,500	$2.38	43d	1	0.31mi
2406 W Louisiana Ave Midland, TX	2.0	1.5	1620	$2,500	$1.54	43d	1	0.45mi
1511 Bedford Dr Midland, TX	3.0	2.0	1732	$2,500	$1.44	43d	1	0.48mi
705 Ainslee St Midland, TX	3.0	2.0	1144	$1,900	$1.66	21d	1	0.49mi
1002 W Louisiana Ave Midland, TX	2.0	1.5	1472	$2,500	$1.70	43d	1	0.59mi
1707 College Ave Midland, TX	2.0	1.5	1760	$1,900	$1.08	21d	1	0.65mi
2805 W Louisiana Ave Midland, TX	3.0	2.0	1178	$2,400	$2.04	21d	1	0.71mi
1807 W Kentucky Ave Midland, TX	3.0	2.0	1696	$2,800	$1.65	21d	1	0.73mi
2901 W Louisiana Ave Unit 3 Midland, TX	2.0	1.0	925	$1,090	$1.18	43d	1	0.78mi
2111 W Kentucky Ave Midland, TX	2.0	1.0	981	$1,400	$1.43	21d	1	0.80mi
2704 Delano Ave Midland, TX	3.0	1.0	1220	$1,900	$1.56	44d	1	0.81mi
2928 W Louisiana Ave Unit 216 Midland, TX	2.0	1.0	950	$1,050	$1.11	43d	1	0.82mi
2928 W Louisiana Ave Unit 213 Midland, TX	3.0	2.0	1450	$1,400	$0.97	43d	1	0.82mi
2928 W Louisiana Ave Unit 221 Midland, TX	2.0	1.5	1000	$1,200	$1.20	43d	1	0.82mi
2928 W Louisiana Ave Midland, TX	2.0	1.0	950	$1,395	$1.47	43d	1	0.83mi
2929 W Kansas Ave Midland, TX	2.0	1.0	1050	$1,200	$1.14	43d	1	0.83mi
2929 W Kansas Ave Unit 317 Midland, TX	2.0	1.5	1050	$1,200	$1.14	43d	1	0.83mi
2910 W Michigan Ave Unit 110 Midland, TX	2.0	1.0	980	$1,250	$1.28	43d	1	0.84mi
2910 W Michigan Ave Unit 101 Midland, TX	2.0	2.0	1215	$1,350	$1.11	43d	1	0.84mi
2910 W Michigan Ave Unit 110 Midland, TX	2.0	1.0	980	$1,250	$1.28	13d	1	0.84mi
3007 W Louisiana Ave Midland, TX	2.0	1.0	925	$1,079	$1.17	21d	1	0.89mi
2812 Mariana Ave Midland, TX	3.0	1.5	1443	$1,750	$1.21	43d	1	0.95mi
1101 N Carrizo St Unit 6 Midland, TX	2.0	1.0	915	$1,500	$1.64	13d	1	0.97mi
3105 Barkley Ave Midland, TX	4.0	2.0	1730	$2,350	$1.36	13d	1	1.00mi
1513 Club Dr Midland, TX	2.0	2.0	1502	$2,300	$1.53	21d	1	1.00mi
3100 Thomas Ave Midland, TX	3.0	1.0	1300	$2,400	$1.85	43d	1	1.01mi
2705 W Kentucky Ave Midland, TX	3.0	2.0	924	$1,800	$1.95	21d	1	1.03mi
1100 N Colorado St Unit NA Midland, TX	3.0	2.0	1768	$2,500	$1.41	21d	1	1.26mi
3311 Storey Ave Midland, TX	3.0	1.5	1100	$1,700	$1.55	13d	1	1.37mi
3403 Thomas Ave Midland, TX	2.0	2.0	1472	$2,000	$1.36	13d	1	1.44mi
3401 Storey Ave Midland, TX	3.0	2.0	1531	$2,200	$1.44	43d	1	1.46mi
3401 Storey Ave Midland, TX	3.0	2.0	1531	$2,200	$1.44	21d	1	1.46mi

Listing history 10 events

1. 2026-06-15
   status $215,000 Pending 13 DOM
2. 2026-06-15
   days on market $215,000 Active Under Contract 13 DOM
3. 2026-06-14
   days on market $215,000 Active Under Contract 11 DOM
4. 2026-06-13
   days on market $215,000 Active Under Contract 10 DOM
5. 2026-06-10
   days on market $215,000 Active Under Contract 8 DOM
6. 2026-06-09
   days on market $215,000 Active Under Contract 7 DOM
7. 2026-06-08
   days on market $215,000 Active Under Contract 6 DOM
8. 2026-06-07
   statusdays on market $215,000 Active Under Contract 5 DOM
9. 2026-06-03
   remarks 561-char remark
10. 2026-06-03
    listed $215,000 Active 1 DOM

ⓘ 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: $3,202 · $267/mo
• Projected year-2 tax: $3,934 · $328/mo
• Expected delta: +$732/yr (+$61/mo · 22.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 21 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: $23,517
• − Mortgage interest: −$12,043
• − Property taxes: −$3,202
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$6,255
• Taxable loss: −$2,821
• Est. tax savings @ 24.0%: +$677
• After-tax cash flow: $1,448/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): 27,131
• Household income: $57,346
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 938.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 61% Two or more races 28% White 27% Black 10%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Lithuanian 1% Slovak 1% Ukrainian 1%
• Foreign-born: 17% · Canada
• Languages at home: 55% English-only · Spanish 44%

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: ▼ -227.32%
• Current HPI: 234.6111
• Rent YoY: ▲ 0.74%
• 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

4 events — show timeline

• 2026-06-02 Listed $215,000 PBBOR
• 2018-10-03 Sold (Public Records) — Public Records
• 2009-11-18 Sold (Public Records) — Public Records
• 2002-06-25 Sold (Public Records) — Public Records

Property tax history

+1.4%/yr

Latest (2025): $3,202 · -4.7% YoY. Source: county tax records.