1605 E Pine Ave · Midland, TX 79705

$130,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 26 Days on market

Built 1981 8,233 sqft lot

---

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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• 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

OPPORTUNITY OPPORTUNITY OPPORTUNITY!!! THIS IS YOUR CHANCE TO INVEST IN REAL ESTATE! WHETHER LOOKING FOR A PRIMARY RESIDENCE, YOUR FIRST OR NEXT FLIP, OR FOR A GREAT RENTAL PROPERTY OR FOR A GREAT RENTAL PROPERTY TO ADD TO YOUR INVESTMENT PORTFOLIO! DO NOT MISS OUT on this wonderful 3 bedroom 1 bath home, with a family friendly floor plan, carport, plus a large backyard just waiting for the next owner to put TLC and LOVE into it to bring it back to its glory as a wonderful home to make a lifetime of memories in! Located behind the future Midland High School! Do not hesitate! CALL TODAY! As-Is.

Key facts

• Large backyard
• Carport
• 8,233 sq ft lot

Tags

• LARGE BACKYARD
• CARPORT

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single story
• Construction: Brick veneer and frame construction; Composition roof
• Exterior features: Wood fencing

Interior

• Kitchen: Electric water heater
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: Milam El (math 31% / reading 25%, grade F, #2,740 of 4,322 statewide, top 64%, 442 students, 68% FRL, charter); 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 rising (+2.6%/yr); 452 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $899 of loan paydown is wiped out by about $4k 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 + 2.6% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,050 (1.5% below list)

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: 1.39% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.78%
• DSCR: 1.79
• GRM: 6.0

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: 8.8%
• Equity multiple: 1.34×
• Total profit: $12,501
• Equity at exit: $19,383

10-year hold

• IRR: 17.6%
• Equity multiple: 2.43×
• Total profit: $51,953
• Equity at exit: $11,240

Cash invested: $36,400 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,808 high
• Mortgage (P&I): −$682
• Tax from tax record: −$154 /mo · $1,843/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $539

Break-even live

Break-even rent $1,126

Max offer price $130,000

Occupancy floor 65%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1212 E Wadley Ave Unit 1223 Midland, TX	2.0	2.0	932	$1,138	$1.22	21d	1	0.49mi
416 Maple Ave Midland, TX	3.0	2.0	1107	$1,750	$1.58	21d	1	0.60mi
3600 Edwards St Midland, TX	1.0–3.0	1.0–2.0	980	$2,886	$2.94	13d	19	0.94mi
3700 N Edwards St Midland, TX	1.0–2.0	1.0–2.0	957	$1,911	$2.00	13d	18	1.03mi
407 W Spruce Ave Unit A-1 Midland, TX	2.0	2.0	1078	$1,600	$1.48	21d	1	1.15mi
405 Humble Ave Midland, TX	2.0	1.0	876	$1,250	$1.43	43d	1	1.22mi
2301 N Pecos St Midland, TX	2.0	2.0	1082	$1,612	$1.49	43d	2	1.31mi
2301 N Pecos St Midland, TX	2.0	1.0–2.0	1053	$1,562	$1.48	21d	3	1.31mi

Listing history 18 events

1. 2026-06-19
   days on market $130,000 Active 26 DOM
2. 2026-06-18
   days on market $130,000 Active 25 DOM
3. 2026-06-17
   days on market $130,000 Active 24 DOM
4. 2026-06-16
   days on market $130,000 Active 23 DOM
5. 2026-06-15
   days on market $130,000 Active 22 DOM
6. 2026-06-14
   days on market $130,000 Active 20 DOM
7. 2026-06-13
   days on market $130,000 Active 19 DOM
8. 2026-06-10
   days on market $130,000 Active 17 DOM
9. 2026-06-09
   days on market $130,000 Active 16 DOM
10. 2026-06-08
    days on market $130,000 Active 15 DOM
11. 2026-06-07
    days on market $130,000 Active 14 DOM
12. 2026-06-03
    days on market $130,000 Active 10 DOM
13. 2026-06-02
    days on market $130,000 Active 9 DOM
14. 2026-06-01
    days on market $130,000 Active 8 DOM
15. 2026-05-31
    days on market $130,000 Active 7 DOM
16. 2026-05-30
    days on market $130,000 Active 6 DOM
17. 2026-05-24
    listed $130,000 Active
18. 2001-05-02
    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: $1,843 · $154/mo
• Projected year-2 tax: $2,379 · $198/mo
• Expected delta: +$536/yr (+$45/mo · 29.1%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $21,702
• − Mortgage interest: −$7,282
• − Property taxes: −$1,843
• − Insurance: −$650
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$3,782
• Taxable income: $4,672
• Est. tax owed @ 24.0%: −$1,121
• After-tax cash flow: $5,349/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

2 events — show timeline

• 2026-05-24 Listed $130,000 PBBOR
• 2001-05-02 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,843 · -6.5% YoY. Source: county tax records.