1005 Godfrey St · Midland, TX 79703

$200,000

3 bd · 2.0 ba · 1,704 sqft · SingleFamily public records · 8 Days on market

Built 1981 3,659 sqft lot

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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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• 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 MLS

This 3-bedroom, 2-bath, two-story townhouse offers a flexible layout and plenty of opportunity to add value. The home features one bedroom located upstairs, providing separation and privacy, while the remaining bedrooms and bathrooms are conveniently located on the main level. Bring your vision and transform this townhouse into a fantastic rental or resale opportunity. Don't miss this chance to see this investor special!

Key facts

• 3,659 sq ft lot
• 2 garage spots
• Built 1981

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 7.8% 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: Bonham El (math 36% / reading 34%, grade F, #1,965 of 4,322 statewide, top 46%, 640 students, 69% FRL); Abell J H (math 32% / reading 43%, grade F, #736 of 1,662 statewide, top 45%, 1,095 students, 46% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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 $200,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.04% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-22,761
• Equity at exit: $29,821

10-year hold

• IRR: -7.5%
• Equity multiple: 0.59×
• Total profit: $-23,031
• Equity at exit: $17,292

Cash invested: $56,000 (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: 8.0×

Monthly cashflow live

• Estimated rent: $2,086 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$269 /mo · $3,228/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $247

Break-even live

Break-even rent $1,774

Max offer price $200,000

Occupancy floor 83%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3900 Douglas Ave Midland, TX	4.0	2.0	1961	$2,800	$1.43	43d	1	0.30mi
3401 Storey Ave Midland, TX	3.0	2.0	1531	$2,200	$1.44	20d	1	0.37mi
3401 Storey Ave Midland, TX	3.0	2.0	1531	$2,200	$1.44	43d	1	0.37mi
3607 W Michigan Ave Midland, TX	3.0	2.0	1535	$2,500	$1.63	20d	1	0.39mi
509 Delmar St Midland, TX	1.0–2.0	1.0–2.5	1116	$1,796	$1.61	13d	8	0.41mi
3601 Andrews Hwy Midland, TX	2.0	1.0–2.0	800	$1,615	$2.02	13d	16	0.43mi
4313 Storey Ave Unit A Midland, TX	3.0	2.0	1255	$2,000	$1.59	43d	1	0.44mi
3311 Storey Ave Midland, TX	3.0	1.5	1100	$1,700	$1.55	13d	1	0.46mi
4403 Crockett Ave Unit A Midland, TX	3.0	2.0	1065	$1,800	$1.69	20d	1	0.53mi
4405 Crockett Ave Unit A Midland, TX	3.0	2.0	1100	$1,800	$1.64	43d	1	0.55mi
3619 Boyd Ave Midland, TX	3.0	2.0	1700	$2,100	$1.24	13d	1	0.55mi
4503 Crockett Ave Unit B Midland, TX	2.0	2.0	1250	$2,000	$1.60	43d	1	0.63mi
1813 McDonald St Midland, TX	3.0	2.0	1680	$2,249	$1.34	43d	1	0.67mi
4519 Crockett Ave Midland, TX	2.0	2.0	1465	$1,900	$1.30	20d	1	0.68mi
4600 Andrews Hwy Midland, TX	1.0–3.0	1.0–2.0	1117	$2,590	$2.32	43d	5	0.69mi
4525 Crockett Ave Midland, TX	2.0	2.0	1400	$4,250	$3.04	20d	1	0.70mi
4506 Storey Ave Midland, TX	3.0	1.0	1400	$1,650	$1.18	13d	1	0.72mi
1902 N Midland Dr Midland, TX	1.0–2.0	1.0–2.5	887	$1,619	$1.82	13d	40	0.76mi
4610 Storey Ave Midland, TX	3.0	2.0	1184	$1,899	$1.60	20d	1	0.84mi
3403 Thomas Ave Midland, TX	2.0	2.0	1472	$2,000	$1.36	13d	1	0.84mi
4409 Roosevelt Dr Midland, TX	3.0	2.0	1230	$1,750	$1.42	44d	1	0.88mi
3811 Cedar Spring Dr Midland, TX	4.0	2.0	1500	$2,600	$1.73	43d	1	0.90mi
4534 Sinclair Ave Midland, TX	2.0	1.0–2.5	901	$1,904	$2.11	20d	9	0.94mi
4317 Tanner Dr Unit A Midland, TX	4.0	2.0	2220	$2,650	$1.19	20d	1	0.98mi
2929 W Kansas Ave Unit 317 Midland, TX	2.0	1.5	1050	$1,200	$1.14	43d	1	0.99mi
2929 W Kansas Ave Midland, TX	2.0	1.0	1050	$1,200	$1.14	43d	1	0.99mi
2928 W Louisiana Ave Unit 213 Midland, TX	3.0	2.0	1450	$1,400	$0.97	43d	1	1.01mi
2910 W Michigan Ave Unit 101 Midland, TX	2.0	2.0	1215	$1,350	$1.11	43d	1	1.01mi
4425 Humble Ave Midland, TX	4.0	2.0	1466	$2,250	$1.53	20d	1	1.02mi
4425 Humble Ave Midland, TX	4.0	2.0	1466	$2,150	$1.47	13d	1	1.02mi
3105 Barkley Ave Midland, TX	4.0	2.0	1730	$2,350	$1.36	13d	1	1.03mi
4515 Monty Dr Midland, TX	4.0	2.0	1853	$2,400	$1.30	43d	1	1.07mi
3100 Thomas Ave Midland, TX	3.0	1.0	1300	$2,400	$1.85	43d	1	1.11mi
2805 W Louisiana Ave Midland, TX	3.0	2.0	1178	$2,400	$2.04	20d	1	1.12mi
2601 Bedford Dr Midland, TX	3.0	2.0	2108	$2,200	$1.04	13d	1	1.14mi
4603 Mercedes Dr Midland, TX	3.0	2.0	1665	$2,199	$1.32	20d	1	1.15mi
2202 Wydewood Dr Midland, TX	3.0	3.0	1854	$2,700	$1.46	13d	1	1.15mi
4732 Harvard Ave Midland, TX	3.0	2.0	2248	$2,600	$1.16	20d	1	1.17mi
2812 Mariana Ave Midland, TX	3.0	1.5	1443	$1,750	$1.21	43d	1	1.17mi
2302 Wydewood Dr Midland, TX	3.0	2.0	1748	$2,500	$1.43	43d	1	1.19mi

Listing history 9 events

1. 2026-03-26
   status Pending
2. 2026-03-25
   historical Active Under Contract 424-char remark

   Show marketing remark (424 chars)

   This 3-bedroom, 2-bath, two-story townhouse offers a flexible layout and plenty of opportunity to add value. The home features one bedroom located upstairs, providing separation and privacy, while the remaining bedrooms and bathrooms are conveniently located on the main level. Bring your vision and transform this townhouse into a fantastic rental or resale opportunity. Don't miss this chance to see this investor special!

3. 2026-03-18
   listed $200,000 Active

   Show marketing remark (424 chars)

   This 3-bedroom, 2-bath, two-story townhouse offers a flexible layout and plenty of opportunity to add value. The home features one bedroom located upstairs, providing separation and privacy, while the remaining bedrooms and bathrooms are conveniently located on the main level. Bring your vision and transform this townhouse into a fantastic rental or resale opportunity. Don't miss this chance to see this investor special!

4. 2026-03-18
   listed $200,000 Active 424-char remark

   Show marketing remark (424 chars)

   This 3-bedroom, 2-bath, two-story townhouse offers a flexible layout and plenty of opportunity to add value. The home features one bedroom located upstairs, providing separation and privacy, while the remaining bedrooms and bathrooms are conveniently located on the main level. Bring your vision and transform this townhouse into a fantastic rental or resale opportunity. Don't miss this chance to see this investor special!

5. 2019-07-02
   soldstatus
6. 2013-05-09
   soldstatus
7. 2013-05-07
   soldstatus 375-char remark

   Show marketing remark (375 chars)

   Recently updated with new paint, shower door and carpet. 3 bedroom, 2 bath home with a sunroom. Formal dining with built-in bookcases and a breakfast area. Large open living area with wet bar and wood-burning fireplace. Spacious kitchen with lots of cabinets and storage. Large master with dual sinks and a separate tub & shower. 2 car garage. Verify taxes and schools.

8. 2013-01-21
   listed $160,000 375-char remark

   Show marketing remark (375 chars)

   Recently updated with new paint, shower door and carpet. 3 bedroom, 2 bath home with a sunroom. Formal dining with built-in bookcases and a breakfast area. Large open living area with wet bar and wood-burning fireplace. Spacious kitchen with lots of cabinets and storage. Large master with dual sinks and a separate tub & shower. 2 car garage. Verify taxes and schools.

9. 2000-05-12
   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: $3,228 · $269/mo
• Projected year-2 tax: $3,660 · $305/mo
• Expected delta: +$432/yr (+$36/mo · 13.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $25,032
• − Mortgage interest: −$11,203
• − Property taxes: −$3,228
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,003
• − Management: −$2,003
• − Depreciation: −$5,818
• Taxable loss: −$222
• Est. tax savings @ 24.0%: +$53
• After-tax cash flow: $3,015/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

+25.0% since first listed

9 events — show timeline

• 2026-03-26 Pending — ODMLS
• 2026-03-25 Contingent — PBBOR
• 2026-03-18 Listed $200,000 ODMLS
• 2026-03-18 Listed $200,000 PBBOR
• 2019-07-02 Sold (Public Records) — Public Records
• 2013-05-09 Sold (Public Records) — Public Records
• 2013-05-07 Sold (MLS) — ODMLS
• 2013-01-21 Listed $160,000 ODMLS
• 2000-05-12 Sold (Public Records) — Public Records

Property tax history

+1.4%/yr

Latest (2025): $3,228 · -0.0% YoY. Source: county tax records.