501 E Scharbauer Dr · Midland, TX 79705

$49,999

1 bd · 1.0 ba · 512 sqft · SingleFamily · 38 Days on market

Built 1963 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

MUST SEE Completely remodeled in 2018 Perfect Starter -or- Work Home Away from Home Beautifully Decorated & amp; Fully Furnished, complete with Full Size Bed in Bedroom and Queen Sleeper Sofa in living room Sleeps 4 . Small office nook with desk and chair. Kitchen Cabinets are stocked with dishes, silverware/cookware, kitchen knives, pots/pans, baking sheets, etc. 2018 New Gas Range, Over Range Microwave and Dishwasher installed. A/C was replaced in 2020. Super Quiet Complex and Lots of Sweet Neighbors. HOA $216 cover Water/Gas/1 covered parking space/Exterior Maintenance and Exterior Insurance $148.80

Key facts

• New gas range
• Remodeled in 2018
• Over range microwave

Tags

• REMODELED IN 2018
• FULLY FURNISHED
• SMALL OFFICE NOOK
• NEW GAS RANGE
• OVER RANGE MICROWAVE
• NEW DISHWASHER

Property features AI

Exterior

• Home design: Single-story property (built in 1963)
• Construction: Built in 1963
• Exterior features: Located in the Cowden subdivision

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.6% 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 rising (+2.6%/yr); 452 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• This rent is only 12% of the median local income ($105k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $2k 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 38 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $48,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.17% ✓
• Cap rate: 18.59%
• Cash-on-cash: 43.92%
• DSCR: 2.95
• GRM: 3.8

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-2,832
• Equity at exit: $7,455

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $3,763
• Equity at exit: $4,323

Cash invested: $14,000 (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 79705

• Rents YoY: 2.6%
• Active inventory: 452
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,086 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $86

Break-even live

Break-even rent $977

Max offer price $49,999

Occupancy floor 87%

Sensitivity live

Price	-10% $120	-5% $103	+0% $86	+5% $69	+10% $51
Rent	-10% $0	-5% $43	+0% $86	+5% $129	+10% $172
Rate	-1.0pp $111	-0.5pp $99	base $86	+0.5pp $73	+1.0pp $60

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1212 E Wadley Ave Midland, TX	1.0	1.0	643	$875	$1.36	44d	1	0.69mi
1212 E Wadley Ave Unit 938 Midland, TX	1.0	1.0	583	$820	$1.41	44d	1	0.72mi
1212 E Wadley Ave Unit 928 Midland, TX	1.0	1.0	583	$820	$1.41	21d	1	0.72mi
1212 E Wadley Ave Apt 823 Midland, TX	1.0	1.0	643	$906	$1.41	21d	1	0.72mi
1212 E Wadley Ave Unit 1003 Midland, TX	1.0	1.0	643	$906	$1.41	44d	1	0.72mi
3600 Edwards St Midland, TX	1.0–3.0	1.0–2.0	980	$1,443	$1.47	14d	19	0.94mi
507 W Estes Ave Unit 7 Midland, TX	1.0	1.0	500	$1,050	$2.10	44d	1	1.03mi
3700 N Edwards St Midland, TX	1.0–2.0	1.0–2.0	957	$1,291	$1.35	14d	18	1.13mi
3700 N A St Midland, TX	1.0–2.0	1.0–2.0	971	$1,449	$1.49	14d	1	1.47mi

Listing history 37 events

1. 2026-06-19
   days on market $49,999 Active 38 DOM
2. 2026-06-18
   days on market $49,999 Active 37 DOM
3. 2026-06-17
   days on market $49,999 Active 36 DOM
4. 2026-06-16
   days on market $49,999 Active 35 DOM
5. 2026-06-15
   days on market $49,999 Active 34 DOM
6. 2026-06-14
   days on market $49,999 Active 32 DOM
7. 2026-06-13
   days on market $49,999 Active 31 DOM
8. 2026-06-10
   days on market $49,999 Active 29 DOM
9. 2026-06-09
   days on market $49,999 Active 28 DOM
10. 2026-06-08
    days on market $49,999 Active 27 DOM
11. 2026-06-07
    days on market $49,999 Active 26 DOM
12. 2026-06-03
    days on market $49,999 Active 22 DOM
13. 2026-06-02
    days on market $49,999 Active 21 DOM
14. 2026-06-01
    days on market $49,999 Active 20 DOM
15. 2026-05-31
    days on market $49,999 Active 19 DOM
16. 2026-05-30
    days on market $49,999 Active 18 DOM
17. 2026-05-12
    listed $49,999 Active 615-char remark
18. 2024-06-28
    price $85,000
19. 2024-02-27
    soldstatus
20. 2024-02-01
    listed $40,000
21. 2023-03-05
    price $90,000
22. 2022-11-29
    price $95,000
23. 2022-11-21
    price $108,000
24. 2022-11-07
    price $100,000
25. 2022-10-18
    price $105,000
26. 2022-08-10
    price $80,000
27. 2022-06-27
    price $85,000
28. 2022-06-09
    price $110,000
29. 2022-06-08
    price $90,000
30. 2009-01-14
    soldstatus
31. 2008-05-29
    listed $29,900
32. 2003-10-15
    soldstatus
33. 2003-06-14
    listed $25,000
34. 2003-06-12
    soldstatus
35. 2002-12-17
    listed $10,000
36. 2001-10-19
    soldstatus
37. 2001-06-14
    listed $34,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 94% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 22 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: $13,032
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$5,368
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$1,455
• Taxable income: $573
• Est. tax owed @ 24.0%: −$138
• After-tax cash flow: $893/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.

Condition & rehab AI · 0 photos

Good 75/100 Cosmetic rehab

This single-family home is in excellent condition with recent renovations, making it a perfect starter or work-from-home property. Landscaping improvements would further enhance its appeal.

Value-add opportunities

• Both Landscaping — A well-maintained yard can enhance curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — A well-maintained yard can enhance curb appeal and attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+43.3% since first listed

21 events — show timeline

• 2026-05-12 Listed $49,999 FSBO.com
• 2024-06-28 Price Changed $85,000 PBBOR
• 2024-02-27 Sold (MLS) — ODMLS
• 2024-02-01 Listed $40,000 ODMLS
• 2023-03-05 Price Changed $90,000 PBBOR
• 2022-11-29 Price Changed $95,000 PBBOR
• 2022-11-21 Price Changed $108,000 PBBOR
• 2022-11-07 Price Changed $100,000 PBBOR
• 2022-10-18 Price Changed $105,000 PBBOR
• 2022-08-10 Price Changed $80,000 PBBOR
• 2022-06-27 Price Changed $85,000 PBBOR
• 2022-06-09 Price Changed $110,000 PBBOR
• 2022-06-08 Price Changed $90,000 PBBOR
• 2009-01-14 Sold (MLS) — ODMLS
• 2008-05-29 Listed $29,900 ODMLS
• 2003-10-15 Sold (MLS) — ODMLS
• 2003-06-14 Listed $25,000 ODMLS
• 2003-06-12 Sold (MLS) — ODMLS
• 2002-12-17 Listed $10,000 ODMLS
• 2001-10-19 Sold (MLS) — ODMLS
• 2001-06-14 Listed $34,900 ODMLS