3613 Apache Dr · Midland, TX 79703

$100,000

2 bd · 1.0 ba · 1,074 sqft · SingleFamily public records

Built 1953 7,013 sqft lot Est $136k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

NEW LOWER PRICE!! Seller has taken $15,000 off!! Affordable, cute 2 bedroom, 1 bath with extra room for dining or second living area. Great first home or income property. New roof! Tile flooring in most rooms. Tile countertops. Large fenced back yard. 2 storage buildings. Inside utility room. Being sold as is. Cash or conventional financing only. Call listing agent or your realtor to see it today!

Key facts

• 7,013 sq ft lot
• Parking
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 13.2% 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: Long El (math 36% / reading 25%, grade F, #2,464 of 4,322 statewide, top 58%, 667 students, 80% FRL); 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).
• Market conditions: Rents soft (-0.3%/yr); 64 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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

• Watch-outs: built in 1953 — 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 $100,000

Questions for the listing agent

1. Built in 1953 — 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. 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.
4. 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.
5. 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: 1.63% ✓
• Cap rate: 13.16%
• Cash-on-cash: 24.51%
• DSCR: 2.09
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $136,398
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 Canyon Dr	0.24mi	3/2.0 (+1)	1,150 (+7%)	13mo	$146,469	$127	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.55×
• Total profit: $15,475
• Equity at exit: $14,910

10-year hold

• IRR: 20.7%
• Equity multiple: 2.50×
• Total profit: $42,045
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$524
• Tax from tax record: −$153 /mo · $1,832/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $572

Break-even live

Break-even rent $910

Max offer price $100,000

Occupancy floor 60%

Sensitivity live

Price	-10% $629	-5% $600	+0% $572	+5% $544	+10% $515
Rent	-10% $443	-5% $507	+0% $572	+5% $636	+10% $701
Rate	-1.0pp $622	-0.5pp $597	base $572	+0.5pp $546	+1.0pp $520

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3506 Apache Dr Midland, TX	2.0	1.0	1004	$1,800	$1.79	22d	1	0.15mi
3712 Amelia Dr Midland, TX	3.0	1.0	1046	$2,000	$1.91	22d	1	0.30mi
3403 Thomas Ave Midland, TX	2.0	2.0	1472	$2,000	$1.36	14d	1	0.51mi
4317 Tanner Dr Unit B Midland, TX	1.0	1.0	800	$1,500	$1.88	22d	1	0.70mi
4000 W Illinois Ave Midland, TX	1.0–2.0	1.0–2.0	755	$1,545	$2.05	22d	10	0.77mi
3100 Thomas Ave Midland, TX	3.0	1.0	1300	$2,400	$1.85	45d	1	0.84mi
4409 Roosevelt Dr Midland, TX	3.0	2.0	1230	$1,750	$1.42	45d	1	0.88mi
2812 Mariana Ave Midland, TX	3.0	1.5	1443	$1,750	$1.21	45d	1	0.88mi
509 Delmar St Midland, TX	1.0–2.0	1.0–2.5	1116	$1,796	$1.61	14d	8	0.98mi
2704 Delano Ave Midland, TX	3.0	1.0	1220	$1,900	$1.56	45d	1	1.03mi
4313 Storey Ave Unit A Midland, TX	3.0	2.0	1255	$2,000	$1.59	45d	1	1.09mi
3311 Storey Ave Midland, TX	3.0	1.5	1100	$1,700	$1.55	14d	1	1.11mi
2705 W Kentucky Ave Midland, TX	3.0	2.0	924	$1,800	$1.95	22d	1	1.12mi
2800 W Illinois Ave Unit 25 Midland, TX	1.0	1.0	729	$850	$1.17	45d	1	1.15mi
4403 Crockett Ave Unit A Midland, TX	3.0	2.0	1065	$1,800	$1.69	22d	1	1.17mi
3007 W Louisiana Ave Midland, TX	2.0	1.0	925	$1,079	$1.17	22d	1	1.18mi
2910 W Michigan Ave Unit 110 Midland, TX	2.0	1.0	980	$1,250	$1.28	45d	1	1.18mi
2910 W Michigan Ave Unit 110 Midland, TX	2.0	1.0	980	$1,250	$1.28	14d	1	1.18mi
2910 W Michigan Ave Unit 101 Midland, TX	2.0	2.0	1215	$1,350	$1.11	45d	1	1.18mi
4405 Crockett Ave Unit A Midland, TX	3.0	2.0	1100	$1,800	$1.64	45d	1	1.18mi
123 N Glenwood Dr Unit A Midland, TX	2.0	1.0	1000	$1,695	$1.70	45d	1	1.20mi
2605 W Washington Ave Midland, TX	2.0	1.0	865	$1,500	$1.73	22d	1	1.20mi
4506 Storey Ave Midland, TX	3.0	1.0	1400	$1,650	$1.18	14d	1	1.20mi
117 N Glenwood Dr Unit D Midland, TX	2.0	2.0	1000	$1,795	$1.79	22d	1	1.21mi
4707 Shadylane Dr Unit B Midland, TX	2.0	1.0	960	$1,400	$1.46	14d	1	1.23mi
4503 Crockett Ave Unit B Midland, TX	2.0	2.0	1250	$2,000	$1.60	45d	1	1.23mi
4701 W Illinois Ave Unit D Midland, TX	2.0	1.0	942	$1,050	$1.11	22d	1	1.24mi
2901 W Louisiana Ave Unit 3 Midland, TX	2.0	1.0	925	$1,090	$1.18	45d	1	1.25mi
2928 W Louisiana Ave Midland, TX	2.0	1.0	950	$1,395	$1.47	45d	1	1.25mi
4610 Storey Ave Midland, TX	3.0	2.0	1184	$1,899	$1.60	22d	1	1.26mi
4519 Crockett Ave Midland, TX	2.0	2.0	1465	$1,900	$1.30	22d	1	1.26mi
2928 W Louisiana Ave Unit 216 Midland, TX	2.0	1.0	950	$1,050	$1.11	45d	1	1.26mi
2928 W Louisiana Ave Unit 213 Midland, TX	3.0	2.0	1450	$1,400	$0.97	45d	1	1.26mi
2928 W Louisiana Ave Unit 221 Midland, TX	2.0	1.5	1000	$1,200	$1.20	45d	1	1.26mi
4525 Crockett Ave Midland, TX	2.0	2.0	1400	$4,250	$3.04	22d	1	1.27mi
2929 W Kansas Ave Unit 317 Midland, TX	2.0	1.5	1050	$1,200	$1.14	45d	1	1.29mi
2929 W Kansas Ave Unit 310 Midland, TX	1.0	1.0	755	$900	$1.19	45d	1	1.29mi
2929 W Kansas Ave Midland, TX	2.0	1.0	1050	$1,200	$1.14	45d	1	1.30mi
2805 W Louisiana Ave Midland, TX	3.0	2.0	1178	$2,400	$2.04	22d	1	1.30mi
3310 Bedford Ave Unit B11 Midland, TX	1.0	1.0	700	$1,000	$1.43	45d	1	1.33mi

Listing history 2 events

1. 2026-06-13
   remarks 254-char remark
2. 2026-06-13
   listed $100,000 Pending

ⓘ 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: $1,832 · $153/mo
• Projected year-2 tax: $1,832 · $153/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $19,605
• − Mortgage interest: −$5,602
• − Property taxes: −$1,832
• − Insurance: −$500
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$2,909
• Taxable income: $5,626
• Est. tax owed @ 24.0%: −$1,350
• After-tax cash flow: $5,513/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

+0.1% since first listed

7 events — show timeline

• 2026-06-12 Delisted — PBBOR
• 2026-06-12 Listed $100,000 PBBOR
• 2022-05-19 Sold (MLS) — ODMLS
• 2019-12-15 Listed $99,900 ODMLS
• 2009-04-27 Sold (Public Records) — Public Records
• 2006-07-07 Sold (Public Records) — Public Records
• 2004-03-09 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,832 · -9.5% YoY. Source: county tax records.