501 W Scharbauer Dr #12 · Midland, TX 79705

$80,000

1 bd · 1.0 ba · 987 sqft · Other public records · 139 Days on market

Built 1963 $419/mo HOA · 30% of rent ↓ 6% 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 +21.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute condo with so much space. This place has closets EVERYWHERE. Appliances pass with home. Great community pool and wreck room. Assigned parking. This unit is very spacious. The bedroom is huge and it has a ton of storage. Washer/Dryer hookups inside the pool room that is one door down. Currently rented but must sell as an owner occupied.

Key facts

• Community pool
• Washer dryer hookups
• Assigned parking

Tags

• COMMUNITY POOL
• ASSIGNED PARKING
• WASHER DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/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 8.0% 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: schools C-, crime C-, commute 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.
• Market conditions: Rents rising (+2.6%/yr); 452 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 is only 16% of the median local income ($105k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• 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 139 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/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 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.72% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-5,978
• Equity at exit: $11,928

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $2,877
• 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 79705

• Rents YoY: 2.6%
• Active inventory: 452
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,379 high
• Mortgage (P&I): −$420
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$33
• HOA: −$419
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $115

Break-even live

Break-even rent $1,234

Max offer price $80,000

Occupancy floor 87%

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: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Humble Ave Midland, TX	2.0	1.0	876	$1,250	$1.43	43d	1	0.05mi
2301 N Pecos St Midland, TX	2.0	1.0–2.0	1053	$1,562	$1.48	21d	3	0.23mi
2301 N Pecos St Midland, TX	2.0	2.0	1082	$1,612	$1.49	43d	2	0.23mi
407 W Spruce Ave Unit A-1 Midland, TX	2.0	2.0	1078	$1,600	$1.48	21d	1	0.47mi
1104 N Carrizo St Midland, TX	2.0	1.0	810	$1,400	$1.73	43d	1	0.65mi
1102 N Carrizo St Midland, TX	2.0	1.0	810	$1,400	$1.73	43d	1	0.65mi
1101 N Carrizo St Unit 6 Midland, TX	2.0	1.0	915	$1,500	$1.64	13d	1	0.72mi
3600 Edwards St Midland, TX	1.0–3.0	1.0–2.0	980	$1,443	$1.47	13d	19	1.05mi
1212 E Wadley Ave Midland, TX	1.0	1.0	643	$875	$1.36	43d	1	1.09mi
1212 E Wadley Ave Unit 1003 Midland, TX	1.0	1.0	643	$906	$1.41	43d	1	1.13mi
1212 E Wadley Ave Unit 938 Midland, TX	1.0	1.0	583	$820	$1.41	43d	1	1.13mi
1212 E Wadley Ave Unit 1223 Midland, TX	2.0	2.0	932	$1,138	$1.22	21d	1	1.13mi
1212 E Wadley Ave Apt 823 Midland, TX	1.0	1.0	643	$906	$1.41	21d	1	1.13mi
1212 E Wadley Ave Unit 928 Midland, TX	1.0	1.0	583	$820	$1.41	21d	1	1.13mi
3700 N A St Midland, TX	1.0–2.0	1.0–2.0	971	$1,449	$1.49	13d	1	1.18mi
3700 N Edwards St Midland, TX	1.0–2.0	1.0–2.0	957	$1,291	$1.35	13d	18	1.25mi
1402 W Tennessee Ave Midland, TX	2.0	1.0	1050	$2,500	$2.38	43d	1	1.33mi
1210 W Texas Ave Unit 15 Midland, TX	2.0	1.0	800	$1,250	$1.56	43d	1	1.47mi

HOA detail

• Monthly dues: $419 · $5,028/yr
• Likely covers: poolparking

Listing history 20 events

1. 2026-06-19
   days on market $80,000 Active 139 DOM
2. 2026-06-18
   days on market $80,000 Active 138 DOM
3. 2026-06-17
   days on market $80,000 Active 137 DOM
4. 2026-06-16
   days on market $80,000 Active 136 DOM
5. 2026-06-15
   days on market $80,000 Active 135 DOM
6. 2026-06-14
   days on market $80,000 Active 133 DOM
7. 2026-06-13
   days on market $80,000 Active 132 DOM
8. 2026-06-10
   days on market $80,000 Active 130 DOM
9. 2026-06-09
   days on market $80,000 Active 129 DOM
10. 2026-06-08
    days on market $80,000 Active 128 DOM
11. 2026-06-07
    days on market $80,000 Active 127 DOM
12. 2026-06-03
    days on market $80,000 Active 123 DOM
13. 2026-06-02
    days on market $80,000 Active 122 DOM
14. 2026-06-01
    days on market $80,000 Active 121 DOM
15. 2026-05-31
    days on market $80,000 Active 120 DOM
16. 2026-05-30
    days on market $80,000 Active 119 DOM
17. 2026-03-11
    price $80,000 342-char remark

    Show marketing remark (342 chars)

    Cute condo with so much space. This place has closets EVERYWHERE. Appliances pass with home. Great community pool and wreck room. Assigned parking. This unit is very spacious. The bedroom is huge and it has a ton of storage. Washer/Dryer hookups inside the pool room that is one door down. Currently rented but must sell as an owner occupied.

18. 2026-01-31
    listed $85,000 Active 342-char remark

    Show marketing remark (342 chars)

    Cute condo with so much space. This place has closets EVERYWHERE. Appliances pass with home. Great community pool and wreck room. Assigned parking. This unit is very spacious. The bedroom is huge and it has a ton of storage. Washer/Dryer hookups inside the pool room that is one door down. Currently rented but must sell as an owner occupied.

19. 2014-02-27
    soldstatus
20. 2012-02-17
    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: $1,236 · $103/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$228/yr (+$19/mo · 18.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 20 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: $16,553
• − Mortgage interest: −$4,481
• − Property taxes: −$1,236
• − Insurance: −$400
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − HOA: −$5,028
• − Depreciation: −$2,327
• Taxable income: $431
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $1,274/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): 46,653
• Household income: $105,310
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 1557.0

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 0.60)
• Race & ethnicity: White 46% Hispanic / Latino 43% Two or more races 20% Black 8%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 72% English-only · Spanish 24% Arabic 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: ▼ -300.44%
• Current HPI: 207.2904
• Rent YoY: ▲ 2.56%
• 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

-5.9% since first listed

4 events — show timeline

• 2026-03-11 Price Changed $80,000 PBBOR
• 2026-01-31 Listed $85,000 PBBOR
• 2014-02-27 Sold (Public Records) — Public Records
• 2012-02-17 Sold (Public Records) — Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,236 · -6.5% YoY. Source: county tax records.