1201 W Michigan Ave · Midland, TX 79701

$225,000

3 bd · 2.0 ba · 1,350 sqft · SingleFamily public records · 137 Days on market

Built 1959 9,235 sqft lot $167/sqft · 15% above area Est $196k · 15% over

---

Why this score? — see what drove the D 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 +17.9/30.0
• DSCR +5.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming corner-lot home with great curb appeal and a welcoming front porch. The spacious, fenced backyard offers privacy, mature trees, and room to enjoy outdoor living. A detached two-car garage/workshop w/ electricity & extra storage is ideal for hobbies, a home business, or additional parking. Inside, the home features a bright living area w/ hardwood floors, 3 spacious bedrooms, built-in storage, & guest bath. The primary suite includes a walk-in closet and ensuite bath. Charming kitchen w/ ample storage and a cozy breakfast/laundry area. Full of character and space! Cash or Conventional.

Key facts

• Front porch
• Corner-lot
• Fenced backyard

Tags

• CORNER-LOT
• FENCED BACKYARD
• DETACHED GARAGE
• MATURE TREES
• FRONT PORCH
• BUILT-IN STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (8.5% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Carver Center (math 89% / reading 93%, grade A+, #4 of 4,322 statewide, top 0%, 488 students, 17% FRL, charter); San Jacinto J H (math 26% / reading 35%, grade F, #1,036 of 1,662 statewide, top 63%, 829 students, 54% FRL); Midland H S (math 37% / reading 7%, grade F, #1,366 of 1,632 statewide, top 84%, 2,492 students, 44% FRL).
• Zoned-school proficiency averages 48% at this address vs 35% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Midland ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 113 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 137 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1959 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.59%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (median comp): $196,460
• List price: $225,000
• Delta: 14.53%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 W Kentucky Ave	0.65mi	3/1.5	1,331 (-1%)	6mo	$217,500	$163	60

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: -13.1%
• Equity multiple: 0.54×
• Total profit: $-29,074
• Equity at exit: $33,548

10-year hold

• IRR: -7.8%
• Equity multiple: 0.56×
• Total profit: $-27,974
• Equity at exit: $19,454

Cash invested: $63,000 (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 79701

• Rents YoY: 0.7%
• Active inventory: 113
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,058 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $188

Break-even live

Break-even rent $1,819

Max offer price $225,000

Occupancy floor 86%

Sensitivity live

Price	-10% $316	-5% $252	+0% $188	+5% $125	+10% $61
Rent	-10% $26	-5% $107	+0% $188	+5% $270	+10% $351
Rate	-1.0pp $302	-0.5pp $246	base $188	+0.5pp $130	+1.0pp $71

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 W Louisiana Ave Midland, TX	2.0	1.5	1472	$2,500	$1.70	45d	1	0.14mi
1402 W Tennessee Ave Midland, TX	2.0	1.0	1050	$2,500	$2.38	45d	1	0.19mi
1511 Bedford Dr Midland, TX	3.0	2.0	1732	$2,500	$1.44	45d	1	0.49mi
1101 N Carrizo St Unit 6 Midland, TX	2.0	1.0	915	$1,500	$1.64	15d	1	0.55mi
1513 Club Dr Midland, TX	2.0	2.0	1502	$2,300	$1.53	22d	1	0.68mi
1707 College Ave Midland, TX	2.0	1.5	1760	$1,900	$1.08	22d	1	0.74mi
1100 N Colorado St Unit NA Midland, TX	3.0	2.0	1768	$2,500	$1.41	22d	1	0.79mi
1807 W Kentucky Ave Midland, TX	3.0	2.0	1696	$2,800	$1.65	22d	1	0.84mi
2406 W Louisiana Ave Midland, TX	2.0	1.5	1620	$2,500	$1.54	45d	1	0.93mi
705 Ainslee St Midland, TX	3.0	2.0	1144	$1,900	$1.66	22d	1	0.97mi
2111 W Kentucky Ave Midland, TX	2.0	1.0	981	$1,400	$1.43	22d	1	1.01mi
930 Edwards St Midland, TX	3.0	2.0	1170	$1,750	$1.50	15d	1	1.07mi
2805 W Louisiana Ave Midland, TX	3.0	2.0	1178	$2,400	$2.04	22d	1	1.20mi
405 Humble Ave Midland, TX	2.0	1.0	876	$1,250	$1.43	45d	1	1.22mi
805 S Weatherford St Midland, TX	3.0	2.0	1368	$1,300	$0.95	22d	1	1.24mi
1710 N Weatherford St Midland, TX	3.0	1.0	1165	$1,950	$1.67	22d	1	1.26mi
2704 Delano Ave Midland, TX	3.0	1.0	1220	$1,900	$1.56	46d	1	1.27mi
2901 W Louisiana Ave Unit 3 Midland, TX	2.0	1.0	925	$1,090	$1.18	45d	1	1.27mi
2928 W Louisiana Ave Unit 221 Midland, TX	2.0	1.5	1000	$1,200	$1.20	45d	1	1.30mi
2928 W Louisiana Ave Unit 213 Midland, TX	3.0	2.0	1450	$1,400	$0.97	45d	1	1.30mi
2928 W Louisiana Ave Unit 216 Midland, TX	2.0	1.0	950	$1,050	$1.11	45d	1	1.30mi
2929 W Kansas Ave Midland, TX	2.0	1.0	1050	$1,200	$1.14	45d	1	1.31mi
2929 W Kansas Ave Unit 317 Midland, TX	2.0	1.5	1050	$1,200	$1.14	45d	1	1.32mi
2928 W Louisiana Ave Midland, TX	2.0	1.0	950	$1,395	$1.47	45d	1	1.32mi
2910 W Michigan Ave Unit 101 Midland, TX	2.0	2.0	1215	$1,350	$1.11	45d	1	1.33mi
2910 W Michigan Ave Unit 110 Midland, TX	2.0	1.0	980	$1,250	$1.28	45d	1	1.33mi
2910 W Michigan Ave Unit 110 Midland, TX	2.0	1.0	980	$1,250	$1.28	15d	1	1.33mi
2705 W Kentucky Ave Midland, TX	3.0	2.0	924	$1,800	$1.95	22d	1	1.35mi
2301 N Pecos St Midland, TX	2.0	1.0–2.0	1053	$1,562	$1.48	22d	3	1.36mi
2301 N Pecos St Midland, TX	2.0	2.0	1082	$1,612	$1.49	45d	2	1.36mi
3007 W Louisiana Ave Midland, TX	2.0	1.0	925	$1,079	$1.17	22d	1	1.38mi
2812 Mariana Ave Midland, TX	3.0	1.5	1443	$1,750	$1.21	45d	1	1.42mi
3100 Thomas Ave Midland, TX	3.0	1.0	1300	$2,400	$1.85	45d	1	1.48mi
3105 Barkley Ave Midland, TX	4.0	2.0	1730	$2,350	$1.36	15d	1	1.48mi

Listing history 18 events

1. 2026-06-17
   days on market $225,000 Active 137 DOM
2. 2026-06-16
   days on market $225,000 Active 136 DOM
3. 2026-06-15
   days on market $225,000 Active 135 DOM
4. 2026-06-14
   days on market $225,000 Active 133 DOM
5. 2026-06-13
   days on market $225,000 Active 132 DOM
6. 2026-06-10
   days on market $225,000 Active 130 DOM
7. 2026-06-09
   days on market $225,000 Active 129 DOM
8. 2026-06-08
   days on market $225,000 Active 128 DOM
9. 2026-06-07
   remarks 610-char remark
10. 2026-06-07
    days on market $225,000 Active 127 DOM
11. 2026-06-03
    days on market $225,000 Active 123 DOM
12. 2026-06-02
    days on market $225,000 Active 122 DOM
13. 2026-06-01
    days on market $225,000 Active 121 DOM
14. 2026-05-31
    days on market $225,000 Active 120 DOM
15. 2026-05-30
    days on market $225,000 Active 119 DOM
16. 2026-01-31
    listed $225,000 Active 611-char remark

    Show marketing remark (611 chars)

    Charming corner-lot home with great curb appeal and a welcoming front porch. The spacious, fenced backyard offers privacy, mature trees, and room to enjoy outdoor living. A detached two-car garage/workshop w/ electricity & extra storage is ideal for hobbies, a home business, or additional parking. Inside, the home features a bright living area w/ hardwood floors, 3 spacious bedrooms, built-in storage, & guest bath. The primary suite includes a walk-in closet and ensuite bath. Charming kitchen w/ ample storage and a cozy breakfast/laundry area. Full of character and space! Cash or Conventional.

17. 2005-12-08
    soldstatus
18. 1985-08-14
    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: $1,963 · $164/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$2,155/yr (+$180/mo · 109.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $24,694
• − Mortgage interest: −$12,603
• − Property taxes: −$1,963
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,976
• − Management: −$1,976
• − Depreciation: −$6,545
• Taxable loss: −$1,493
• Est. tax savings @ 24.0%: +$358
• After-tax cash flow: $2,620/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

3 events — show timeline

• 2026-01-31 Listed $225,000 PBBOR
• 2005-12-08 Sold (Public Records) — Public Records
• 1985-08-14 Sold (Public Records) — Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,963 · -6.5% YoY. Source: county tax records.