1605 Fargo Ave · Odessa, TX 79762

$159,900

2 bd · 2.0 ba · 1,284 sqft · SingleFamily public records · 3 Days on market

Built 1957 0.25 ac lot Est $240k · 33% 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.9/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cutest 2 bedroom 2 bath home ever!!!! Huge covered patio for entertaining. Tile flooring. Roof replaced September 2019.

Key facts

• 0.25 acre lot
• Built 1957
• Listed 2 days

Property features AI

Exterior

• Parking: Parking pad
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Propane available
• Home design: Residential single-family home
• Construction: Brick veneer exterior; Composition roof; Pillar/post/pier foundation; Built in 2026
• Exterior features: Covered patio/porch; Landscaped lot; Paved road access; Solar

Interior

• Kitchen: Gas range; Microwave; Dishwasher
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central electric air conditioning
• Interior features: Pantry; Blinds; Gas water heater; Has fireplace (located in den)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

Location & tenants

• Location reads 75/100 on livability (#132 in TX, #3,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, amenities D.
• Ector County ISD (urban): math 22% / reading 27% proficiency, ranked #707 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gonzales El (math 37% / reading 27%, grade F, #2,268 of 4,322 statewide, top 55%, 497 students, 75% FRL); Nimitz Middle (math 29% / reading 36%, grade F, #947 of 1,662 statewide, top 58%, 1,303 students, 51% FRL); Permian H S (math 19% / reading 29%, grade F, #1,333 of 1,632 statewide, top 82%, 3,978 students, 51% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising (+1.4%/yr); 263 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,004 units permitted in Ector County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ector County population projected at +78% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 1957 — 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 $159,900

Questions for the listing agent

1. Built in 1957 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.09% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $240,108
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2601 Halifax Ave	0.46mi	3/2.0 (+1)	1,460 (+14%)	14mo	$273,000	$187	39

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 · 1.36% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-7,200
• Equity at exit: $23,842

10-year hold

• IRR: 3.4%
• Equity multiple: 1.23×
• Total profit: $10,182
• Equity at exit: $13,825

Cash invested: $44,772 (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 79762

• Rents YoY: 1.4%
• Active inventory: 263
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,746 high
• Mortgage (P&I): −$839
• Tax from tax record: −$136 /mo · $1,627/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $338

Break-even live

Break-even rent $1,317

Max offer price $159,900

Occupancy floor 76%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2608 Cumberland Rd Odessa, TX	2.0	2.0	1404	$1,500	$1.07	13d	1	0.40mi
2620 Cambridge St Odessa, TX	3.0	2.0	1595	$1,950	$1.22	21d	1	0.45mi
2705 Cambridge St Odessa, TX	3.0	2.0	1456	$2,400	$1.65	21d	1	0.50mi
2801 Redbud Ave Odessa, TX	3.0	2.0	1558	$1,800	$1.16	13d	1	0.58mi
3616 E 30th St Odessa, TX	3.0	2.0	1436	$1,995	$1.39	43d	1	0.63mi
2905 Byron Ave Odessa, TX	3.0	2.0	1816	$2,400	$1.32	13d	1	0.79mi
2701 Pagewood Ave Odessa, TX	2.0	2.0	1000	$1,615	$1.61	21d	1	0.86mi
2725 Pagewood Ave Unit 16 Odessa, TX	1.0	1.0	1000	$1,195	$1.20	13d	1	0.88mi
2901 Nabors Ln Odessa, TX	3.0	1.0	1374	$1,800	$1.31	21d	1	0.90mi
2901 Nabors Ln Odessa, TX	3.0	1.0	1508	$1,800	$1.19	13d	1	0.90mi
2735 E 8th St Odessa, TX	1.0–3.0	1.0–2.0	842	$1,456	$1.73	13d	8	0.92mi
3310 Tanglewood Ln Unit 1 Odessa, TX	3.0	2.5	1732	$2,200	$1.27	21d	1	0.98mi
1513 E 11th St Odessa, TX	3.0	2.0	1728	$3,300	$1.91	43d	1	0.98mi
3312 Tanglewood Ln Odessa, TX	3.0	2.5	1664	$2,000	$1.20	43d	1	0.99mi
701 Hillcrest Ave Odessa, TX	3.0	2.0	1344	$1,400	$1.04	43d	1	1.01mi
4600 Oakwood Dr Odessa, TX	1.0–2.0	1.0–2.0	712	$1,500	$2.11	13d	19	1.04mi
3812 E Everglade Ave Odessa, TX	3.0	2.0	1861	$2,500	$1.34	21d	1	1.10mi
1401 E 18th St Odessa, TX	3.0	2.0	1690	$2,000	$1.18	13d	1	1.14mi
1409 E 23rd St Odessa, TX	2.0	1.0	1032	$2,400	$2.33	43d	1	1.15mi
3939 Tanglewood Ln Odessa, TX	1.0–3.0	1.0–2.0	825	$1,372	$1.66	13d	9	1.21mi
3824 Englewood Cir Odessa, TX	2.0	1.5	1150	$1,295	$1.13	13d	1	1.27mi
4675 Oakwood Dr Odessa, TX	1.0–2.0	1.0–2.0	875	$1,550	$1.77	13d	7	1.32mi
3902 Englewood Cir Odessa, TX	2.0	1.5	1280	$1,445	$1.13	13d	1	1.33mi
3904 Englewood Cir Odessa, TX	1.0	1.0	900	$1,255	$1.39	43d	1	1.33mi
3904 Englewood Cir Odessa, TX	2.0	1.0	1280	$1,445	$1.13	13d	1	1.33mi
3907 Englewood Cir Odessa, TX	2.0	1.5	1170	$1,395	$1.19	13d	1	1.34mi
3802 Englewood Cir Odessa, TX	2.0	1.5	1150	$1,295	$1.13	13d	1	1.35mi
3926 Englewood Cir Odessa, TX	1.0	1.0	900	$1,250	$1.39	21d	1	1.36mi
2702 S Colonial Dr Odessa, TX	3.0	1.0	1490	$1,500	$1.01	13d	1	1.43mi
1326 French Ave Unit A Odessa, TX	2.0	1.5	1600	$2,000	$1.25	43d	1	1.50mi

Listing history 4 events

1. 2026-06-19
   days on market $159,900 Active 3 DOM
2. 2026-06-18
   days on market $159,900 Active 2 DOM
3. 2026-06-17
   remarks 246-char remark
4. 2026-06-17
   listed $159,900 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: $1,627 · $136/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$1,299/yr (+$108/mo · 79.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°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: $20,950
• − Mortgage interest: −$8,957
• − Property taxes: −$1,627
• − Insurance: −$800
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$4,652
• Taxable income: $1,563
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $3,687/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: Ector County ISD
• NCES district ID: 4818000
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $52,740
• Composite: 21.89/100
• National rank: #8233
• State rank: #707 of 826 in TX

Livability — Odessa

• Score: 75/100
• State rank: #132
• US rank: #3928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Odessa, TX
• County: Ector County · 131,169 people
• City population: 131,169
• Metro: Odessa, TX
• Population (ZIP): 39,927
• Household income: $75,272
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1477.0

Population outlook (Ector County) Hauer SSP2

• Today (2025): 212,765 people
• By 2030: 241,962 · +13.7%
• By 2040: 306,582 · +44.1%
• By 2050: 379,755 · +78.5%
• By 2075: 568,991 · +167.4%
• By 2100: 709,829 · +233.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 52% White 38% Two or more races 22% Black 6% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 45% Cuban 3%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 68% English-only · Spanish 30%

Political lean MEDSL · Ector

• 2024 margin: Solid R (+52.9) · D 23.2% · R 76.1%
• 2008→2024 swing: -4.9pp toward R · 2008: -48.0pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+47.8 2016: R+40.6 2012: R+48.9 2008: R+48.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.97%
• Current HPI: 229.6022
• Rent YoY: ▲ 1.36%
• Metro: Odessa, 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

+113.5% since first listed

14 events — show timeline

• 2026-06-16 Listed $159,900 ODMLS
• 2020-04-07 Sold (Public Records) — Public Records
• 2020-04-06 Sold (MLS) — ODMLS
• 2019-10-15 Listed $160,000 ODMLS
• 2014-04-15 Sold (Public Records) — Public Records
• 2014-04-09 Sold (MLS) — ODMLS
• 2013-12-17 Listed $123,000 ODMLS
• 2009-03-26 Sold (Public Records) — Public Records
• 2009-03-25 Sold (MLS) — ODMLS
• 2009-02-11 Listed $86,900 ODMLS
• 2006-06-27 Sold (Public Records) — Public Records
• 2006-06-26 Sold (MLS) — ODMLS
• 2006-05-02 Listed $74,900 ODMLS
• 2004-08-04 Sold (Public Records) — Public Records

Property tax history

-3.1%/yr

Latest (2025): $1,627 · -36.5% YoY. Source: county tax records.