3001 Pointer Ln Unit 13B

Odessa, TX 79765

$323,700F

3 bd · 2.5 ba · 1,809 sqft · Built 2015 · MultiFamily · Active · 97 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,534/mo
• Mortgage (P&I): −$1,698
• Tax + insurance: −$540
• HOA: −$30
• Vac / Maint / Mgmt: −$532
• Net cashflow: $-265/mo
• Annual: $-3,185/yr
• Cap rate: 5.31%
• Cash-on-cash: -3.51%
• DSCR: 0.84
• 1% rule: 0.78%
• Cash to close: $90,636

Investor read

• This is a 3-bed/2.5-bath multifamily listed at $324k. Condition is rated good.
• At list price, monthly cash flow is $-265 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (21.7% below list).
• It's been on market 97 days — a 9% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $253k (21.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#132 in TX, #3,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, amenities D.
• Ector County ISD (urban): math 22% / reading 27% proficiency, ranked #707 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: L B Johnson El (math 26% / reading 27%, grade F, #2,927 of 4,322 statewide, top 68%, 517 students, 67% FRL); Ector College Prep Success Academy (math 18% / reading 24%, grade F, #1,387 of 1,662 statewide, top 85%, 1,384 students, 72% FRL, charter); Permian H S (math 19% / reading 29%, grade F, #1,333 of 1,632 statewide, top 82%, 3,978 students, 51% FRL).
• Market conditions: Rents flat; 433 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,004 units permitted in Ector County in 2024 (0 in 5+ unit buildings).
• Ector County population projected at +78% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 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.
• Climate carrying-cost: 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 97 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.