1123 E Estes Ave · Midland, TX 79701

$165,000

3 bd · 2.0 ba · 2,208 sqft · SingleFamily public records · 257 Days on market

Built 1956 6,795 sqft lot $75/sqft · 47% below area Est $313k · 47% under ↓ 27% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

Key facts

• Corner lot
• 6,795 sq ft lot
• 2 parking spots

Tags

• CORNER LOT
• BRAND-NEW HVAC SYSTEM
• UPDATED KITCHEN CABINETS
• HANDICAP ACCESSIBILITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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: 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 flat; 113 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• At $2,443/mo this rent would consume 51% of the median local household income ($57k/yr) (locally 938% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 + 0.7% rent growth), your $46k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 11.83%
• Cash-on-cash: 19.76%
• DSCR: 1.88
• GRM: 5.6

CMA / ARV

• ARV (median comp): $312,735
• List price: $165,000
• Delta: -47.24%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1702 S Scr 1085	0.65mi	3/4.0	2,090 (-5%)	3mo	$439,000	$210	51

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.35×
• Total profit: $16,347
• Equity at exit: $24,602

10-year hold

• IRR: 16.4%
• Equity multiple: 2.20×
• Total profit: $55,553
• Equity at exit: $14,266

Cash invested: $46,200 (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 79701

• Rents YoY: 0.7%
• Active inventory: 113
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,443 high
• Mortgage (P&I): −$865
• Tax from tax record: −$235 /mo · $2,824/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $761

Break-even live

Break-even rent $1,480

Max offer price $165,000

Occupancy floor 64%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 N Terrell St Midland, TX	3.0	2.0	2027	$2,600	$1.28	13d	1	0.24mi
1100 N Colorado St Unit NA Midland, TX	3.0	2.0	1768	$2,500	$1.41	21d	1	0.67mi
302 N Carver St Midland, TX	3.0	2.0	1569	$2,500	$1.59	21d	1	0.85mi
1805 Magnolia Ave Midland, TX	4.0	2.0	2174	$2,200	$1.01	21d	1	1.06mi
1513 Club Dr Midland, TX	2.0	2.0	1502	$2,300	$1.53	21d	1	1.10mi
1002 W Louisiana Ave Midland, TX	2.0	1.5	1472	$2,500	$1.70	43d	1	1.34mi
2602 N Pecos St Unit B Midland, TX	2.0	2.0	1663	$2,300	$1.38	13d	1	1.37mi
2800 N Pecos St Unit B Midland, TX	3.0	2.5	2148	$2,100	$0.98	21d	1	1.44mi
2800 N Pecos St Midland, TX	3.0	3.0	2148	$2,100	$0.98	21d	1	1.44mi
806 Neely Ave Midland, TX	3.0	3.5	2767	$3,900	$1.41	43d	1	1.49mi

Listing history 40 events

1. 2026-06-19
   days on market $165,000 Active 257 DOM
2. 2026-06-18
   days on market $165,000 Active 256 DOM
3. 2026-06-17
   days on market $165,000 Active 255 DOM
4. 2026-06-16
   days on market $165,000 Active 254 DOM
5. 2026-06-15
   days on market $165,000 Active 253 DOM
6. 2026-06-14
   days on market $165,000 Active 251 DOM
7. 2026-06-13
   days on market $165,000 Active 250 DOM
8. 2026-06-10
   days on market $165,000 Active 248 DOM
9. 2026-06-09
   days on market $165,000 Active 247 DOM
10. 2026-06-08
    days on market $165,000 Active 246 DOM
11. 2026-06-07
    days on market $165,000 Active 245 DOM
12. 2026-06-03
    days on market $165,000 Active 241 DOM
13. 2026-06-02
    remarks 308-char remark
14. 2026-06-02
    days on marketlisting id $165,000 Active 240 DOM
15. 2026-06-01
    pricedays on market $165,000 Active 271 DOM
16. 2026-05-31
    days on market $175,000 Active 270 DOM
17. 2026-05-30
    days on market $175,000 Active 269 DOM
18. 2026-04-29
    price $175,000
19. 2026-04-28
    price $175,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

20. 2026-04-27
    price $180,000

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

21. 2026-04-27
    price $180,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

22. 2026-04-13
    price $184,500

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

23. 2026-04-13
    price $184,500 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

24. 2026-03-30
    price $189,000

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

25. 2026-03-30
    price $189,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

26. 2026-02-13
    price $194,000

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

27. 2026-02-13
    price $194,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

28. 2026-02-06
    price $199,000
29. 2025-12-30
    price $205,000
30. 2025-12-18
    price $199,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

31. 2025-12-02
    price $209,000
32. 2025-12-01
    price $209,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

33. 2025-11-06
    price $214,000

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

34. 2025-11-06
    price $214,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

35. 2025-10-03
    price $219,000

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

36. 2025-10-03
    price $219,000 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

37. 2025-09-23
    price $224,900

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

38. 2025-09-23
    price $224,900 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

39. 2025-08-22
    listed $239,000 Active 307-char remark

    Show marketing remark (307 chars)

    Looking for an incredible investment opportunity with potential? Check out this corner lot property offering a brand-new HVAC system, roof and updated kitchen cabinets. Customize the remaining areas of the home to your liking. Perfect for those looking for handicap accessibility. PRICE REDUCTION TO $175000

40. 1960-03-14
    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: $2,824 · $235/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$196/yr (+$16/mo · 6.9%)

ⓘ 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 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: $29,321
• − Mortgage interest: −$9,243
• − Property taxes: −$2,824
• − Insurance: −$825
• − Repairs & maintenance: −$2,346
• − Management: −$2,346
• − Depreciation: −$4,800
• Taxable income: $6,938
• Est. tax owed @ 24.0%: −$1,665
• After-tax cash flow: $7,466/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): 27,131
• Household income: $57,346
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 938.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 61% Two or more races 28% White 27% Black 10%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Lithuanian 1% Slovak 1% Ukrainian 1%
• Foreign-born: 17% · Canada
• Languages at home: 55% English-only · Spanish 44%

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: ▼ -227.32%
• Current HPI: 234.6111
• Rent YoY: ▲ 0.74%
• 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

-26.8% since first listed

23 events — show timeline

• 2026-04-29 Price Changed $175,000 ODMLS
• 2026-04-28 Price Changed $175,000 PBBOR
• 2026-04-27 Price Changed $180,000 ODMLS
• 2026-04-27 Price Changed $180,000 PBBOR
• 2026-04-13 Price Changed $184,500 ODMLS
• 2026-04-13 Price Changed $184,500 PBBOR
• 2026-03-30 Price Changed $189,000 ODMLS
• 2026-03-30 Price Changed $189,000 PBBOR
• 2026-02-13 Price Changed $194,000 ODMLS
• 2026-02-13 Price Changed $194,000 PBBOR
• 2026-02-06 Price Changed $199,000 ODMLS
• 2025-12-30 Price Changed $205,000 ODMLS
• 2025-12-18 Price Changed $199,000 PBBOR
• 2025-12-02 Price Changed $209,000 ODMLS
• 2025-12-01 Price Changed $209,000 PBBOR
• 2025-11-06 Price Changed $214,000 ODMLS
• 2025-11-06 Price Changed $214,000 PBBOR
• 2025-10-03 Price Changed $219,000 ODMLS
• 2025-10-03 Price Changed $219,000 PBBOR
• 2025-09-23 Price Changed $224,900 ODMLS
• 2025-09-23 Price Changed $224,900 PBBOR
• 2025-08-22 Listed $239,000 PBBOR
• 1960-03-14 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,824 · -5.9% YoY. Source: county tax records.