414 W Dengar Ave · Midland, TX 79705

$199,900

3 bd · 2.0 ba · 1,029 sqft · SingleFamily public records · 67 Days on market

Built 2007 8,668 sqft lot $194/sqft · 48% above area Est $135k · 48% over ↓ 2% since listing

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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 +17.0/30.0
• DSCR +5.3/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

Key facts

• 8,668 sq ft lot
• Garage
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $137 ($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 $190k (5.2% below list).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 18 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 $1k of loan paydown is wiped out by about $6k 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 67 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: moderate flood risk; major 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 $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.95% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.94%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (median comp): $134,948
• List price: $199,900
• Delta: 48.13%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 E Pine Ave	0.42mi	3/1.0	1,071 (+4%)	17mo	$65,000	$61	56

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-24,476
• Equity at exit: $29,806

10-year hold

• IRR: -3.7%
• Equity multiple: 0.76×
• Total profit: $-13,398
• Equity at exit: $17,284

Cash invested: $55,972 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$228 /mo · $2,740/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $137

Break-even live

Break-even rent $1,721

Max offer price $199,900

Occupancy floor 88%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 W Spruce Ave Unit A-1 Midland, TX	2.0	2.0	1078	$1,600	$1.48	21d	1	0.19mi
410 W Pine Ave Unit B Midland, TX	2.0	1.0	1140	$1,850	$1.62	21d	1	0.22mi
711 W Dormard Ave Midland, TX	3.0	2.0	1427	$2,150	$1.51	43d	1	0.23mi
202 E Shandon Ave Midland, TX	3.0	2.0	1231	$2,400	$1.95	21d	1	0.40mi
2301 N Pecos St Midland, TX	2.0	2.0	1082	$1,612	$1.49	43d	2	0.44mi
2301 N Pecos St Midland, TX	2.0	1.0–2.0	1053	$1,562	$1.48	21d	3	0.44mi
3600 Edwards St Midland, TX	1.0–3.0	1.0–2.0	980	$2,886	$2.94	13d	19	0.55mi
3700 N A St Midland, TX	1.0–2.0	1.0–2.0	971	$2,039	$2.10	13d	1	0.57mi
405 Humble Ave Midland, TX	2.0	1.0	876	$1,250	$1.43	43d	1	0.66mi
3700 N Edwards St Midland, TX	1.0–2.0	1.0–2.0	957	$1,911	$2.00	13d	18	0.71mi
416 Maple Ave Midland, TX	3.0	2.0	1107	$1,750	$1.58	21d	1	0.77mi
1212 E Wadley Ave Unit 1223 Midland, TX	2.0	2.0	932	$1,138	$1.22	21d	1	0.87mi
3214 Carver St Midland, TX	3.0	2.0	1286	$2,300	$1.79	43d	1	0.96mi
1710 N Weatherford St Midland, TX	3.0	1.0	1165	$1,950	$1.67	21d	1	0.98mi
1104 N Carrizo St Midland, TX	2.0	1.0	810	$1,400	$1.73	43d	1	1.28mi
1102 N Carrizo St Midland, TX	2.0	1.0	810	$1,400	$1.73	43d	1	1.29mi
5101 N A St Midland, TX	1.0–2.0	1.0–2.0	1033	$1,705	$1.65	13d	14	1.32mi
1101 N Carrizo St Unit 6 Midland, TX	2.0	1.0	915	$1,500	$1.64	13d	1	1.35mi

Listing history 31 events

1. 2026-06-19
   days on market $199,900 Active 67 DOM
2. 2026-06-18
   days on market $199,900 Active 66 DOM
3. 2026-06-17
   days on market $199,900 Active 65 DOM
4. 2026-06-16
   days on market $199,900 Active 64 DOM
5. 2026-06-15
   price $199,900 Active 63 DOM
6. 2026-06-15
   days on market $202,500 Active 63 DOM
7. 2026-06-14
   days on market $202,500 Active 61 DOM
8. 2026-06-13
   days on market $202,500 Active 60 DOM
9. 2026-06-10
   days on market $202,500 Active 58 DOM
10. 2026-06-09
    days on market $202,500 Active 57 DOM
11. 2026-06-08
    days on market $202,500 Active 56 DOM
12. 2026-06-07
    days on market $202,500 Active 55 DOM
13. 2026-06-03
    days on market $202,500 Active 51 DOM
14. 2026-06-02
    days on market $202,500 Active 50 DOM
15. 2026-06-01
    days on market $202,500 Active 49 DOM
16. 2026-05-31
    days on market $202,500 Active 48 DOM
17. 2026-05-30
    days on market $202,500 Active 47 DOM
18. 2026-04-24
    price $204,900 589-char remark

    Show marketing remark (589 chars)

    NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

19. 2026-04-24
    status Active 589-char remark

    Show marketing remark (589 chars)

    NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

20. 2026-04-21
    price $208,500 589-char remark

    Show marketing remark (589 chars)

    NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

21. 2026-04-21
    historical Active Under Contract 589-char remark

    Show marketing remark (589 chars)

    NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

22. 2026-04-19
    historical 589-char remark

    Show marketing remark (589 chars)

    NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

23. 2026-04-10
    listed $204,900 Active 589-char remark

    Show marketing remark (589 chars)

    NO FHA/ VA Loans Please. Adorable 3-bed, 2-bath deluxe cottage! Newer build with central heat and air. Recent Lux Laminate flooring in the entry, living, kitchen, and laundry room. Living area opens to breakfast area and kitchen, with a Small Breakfast bar. Large Primary bedroom with walk-in closet, 2 additional bedrooms with walk-in closets, Recent flooring (not bedrooms), Disposal, faucets. A 1-car oversized garage could be converted, with a massive backyard. Central location just minutes to Claydesta, Loop 250, and Downtown. Seller will not do the Lender-required repairs or Roof!

24. 2026-03-31
    price $189,900
25. 2026-02-26
    price $192,500
26. 2026-02-12
    price $195,000
27. 2025-12-15
    price $210,000
28. 2016-10-20
    soldstatus
29. 2008-05-28
    soldstatus
30. 2007-01-26
    soldstatus
31. 2003-09-08
    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: $2,740 · $228/mo
• Projected year-2 tax: $3,658 · $305/mo
• Expected delta: +$918/yr (+$77/mo · 33.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 62% chance over 30 yrs
• 🔥 Wildfire 7/10 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: $22,741
• − Mortgage interest: −$11,198
• − Property taxes: −$2,740
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$5,815
• Taxable loss: −$1,650
• Est. tax savings @ 24.0%: +$396
• After-tax cash flow: $2,042/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

-2.4% since first listed

14 events — show timeline

• 2026-04-24 Price Changed $204,900 PBBOR
• 2026-04-24 Relisted — PBBOR
• 2026-04-21 Price Changed $208,500 PBBOR
• 2026-04-21 Contingent — PBBOR
• 2026-04-19 Delisted — PBBOR
• 2026-04-10 Listed $204,900 PBBOR
• 2026-03-31 Price Changed $189,900 PBBOR
• 2026-02-26 Price Changed $192,500 PBBOR
• 2026-02-12 Price Changed $195,000 PBBOR
• 2025-12-15 Price Changed $210,000 PBBOR
• 2016-10-20 Sold (Public Records) — Public Records
• 2008-05-28 Sold (Public Records) — Public Records
• 2007-01-26 Sold (Public Records) — Public Records
• 2003-09-08 Sold (Public Records) — Public Records

Property tax history

+1.3%/yr

Latest (2025): $2,740 · -1.0% YoY. Source: county tax records.