1401 N Alleghaney Ave · Odessa, TX 79761

$235,000

3 bd · 2.0 ba · 1,856 sqft · SingleFamily public records · 6 Days on market

Built 1946 7,100 sqft lot

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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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Absolutely beautiful home, move in ready for your family! Gorgeous kitchen that opens up to the large family room and dining area. 2 living areas, 3 good sized bedrooms with the master sequestered. Beautiful patio is an entertainers delight! Corner lot, a workshop , a nice carport, and metal fence! Working water well to keep the yard gorgeous affordably. The exterior of the home has fresh paint to include the workshop. Call your Realtor today!

Key facts

• Great kitchen
• Workshop storage
• Dining area

Tags

• GREAT KITCHEN
• FAMILY ROOM
• DINING AREA
• 2 LIVING AREAS
• BACKYARD
• WORKSHOP STORAGE

Property features AI

Finance

• Other: Solar panels; Thermostat (energy efficient feature)

Exterior

• Parking: 1 parking space; 1 covered space; Carport; Parking pad
• Security: Smoke detectors
• Utilities: Public and well water available; Public sewer; Propane
• Home design: Single family residence; Residential property
• Construction: Stucco exterior; Composition roof; Pillar/post/pier foundation; Built for residential single-family use
• Exterior features: Covered patio/porch; Corner lot; Paved road access; Workshop (outbuilding)

Interior

• Kitchen: Gas range; Self-cleaning oven; Microwave; Pantry; Breakfast bar
• Flooring: Vinyl; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Pantry; Breakfast bar; Storm windows; Gas range; Self-cleaning oven; Microwave; Gas water heater
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $78 ($934/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 $223k (4.9% below list).
• Recommended offer: $223k (4.9% below list) — sets the bar for 1% rule.

Location & tenants

• 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: Austin Montessori Magnet (math 32% / reading 32%, grade F, #2,268 of 4,322 statewide, top 55%, 537 students, 57% FRL); Bowie Middle (math 11% / reading 21%, grade F, #1,543 of 1,662 statewide, top 94%, 914 students, 74% FRL); Odessa H S (math 18% / reading 22%, grade F, #1,397 of 1,632 statewide, top 87%, 3,874 students, 68% FRL).
• Market conditions: Rents soft (-0.7%/yr); 95 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,004 units permitted in Ector County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($68k/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.
• Ector County population projected at +78% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,460 (4.9% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $40,832
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
709 W 20th St	0.42mi	3/2.0	2,084 (+12%)	24mo	$44,900	$22	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.40×
• Total profit: $-39,601
• Equity at exit: $35,039

10-year hold

• IRR: -17.0%
• Equity multiple: 0.19×
• Total profit: $-53,117
• Equity at exit: $20,319

Cash invested: $65,800 (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 79761

• Home prices YoY: -31.4%
• Rents YoY: -0.7%
• Active inventory: 95
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,235 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$357 /mo · $4,287/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $78

Break-even live

Break-even rent $2,136

Max offer price $235,000

Occupancy floor 92%

Sensitivity live

Price	-10% $211	-5% $144	+0% $78	+5% $11	+10% $-55
Rent	-10% $-99	-5% $-10	+0% $78	+5% $166	+10% $254
Rate	-1.0pp $196	-0.5pp $138	base $78	+0.5pp $17	+1.0pp $-45

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1506 N Alleghaney Ave Odessa, TX	4.0	2.0	2400	$2,650	$1.10	23d	1	0.07mi
200 Santa Rita Dr Odessa, TX	3.0	2.0	1438	$2,400	$1.67	46d	1	0.45mi
314 Santa Rita Dr Odessa, TX	3.0	2.0	2072	$1,875	$0.90	23d	1	0.66mi
1800 W 23rd St Odessa, TX	3.0	2.5	1880	$2,650	$1.41	46d	1	1.36mi
237 Orchard Dr Odessa, TX	4.0	2.0	1768	$2,000	$1.13	15d	1	1.40mi
2 Star Cir Odessa, TX	3.0	2.0	1377	$2,200	$1.60	15d	1	1.40mi
1401 E 18th St Odessa, TX	3.0	2.0	1690	$2,000	$1.18	15d	1	1.41mi
1513 E 11th St Odessa, TX	3.0	2.0	1728	$3,300	$1.91	46d	1	1.47mi
946 S Crane Ave Odessa, TX	3.0	2.0	1584	$1,800	$1.14	46d	1	1.47mi

Listing history 6 events

1. 2026-06-21
   days on market $235,000 Active 6 DOM
2. 2026-06-19
   days on market $235,000 Active 4 DOM
3. 2026-06-18
   days on market $235,000 Active 3 DOM
4. 2026-06-17
   days on market $235,000 Active 2 DOM
5. 2026-06-15
   remarks 499-char remark
6. 2026-06-15
   listed $235,000 Active 1 DOM

ⓘ 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: $4,287 · $357/mo
• Projected year-2 tax: $4,300 · $358/mo
• Expected delta: +$13/yr (+$1/mo · 0.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $26,815
• − Mortgage interest: −$13,164
• − Property taxes: −$4,287
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,145
• − Management: −$2,145
• − Depreciation: −$6,836
• Taxable loss: −$2,937
• Est. tax savings @ 24.0%: +$705
• After-tax cash flow: $1,638/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: Ector County ISD
• NCES district ID: 4818000
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $52,740
• Composite: 21.89/100
• National rank: #8233
• State rank: #707 of 826 in TX

Livability — Odessa

• Score: 75/100
• State rank: #132
• US rank: #3928

Category grades

Amenities D Commute D+ Cost of living A+ Crime C Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Odessa, TX
• County: Ector County · 131,169 people
• City population: 131,169
• Metro: Odessa, TX
• Population (ZIP): 30,164
• Household income: $68,228
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1352.0

Population outlook (Ector County) Hauer SSP2

• Today (2025): 212,765 people
• By 2030: 241,962 · +13.7%
• By 2040: 306,582 · +44.1%
• By 2050: 379,755 · +78.5%
• By 2075: 568,991 · +167.4%
• By 2100: 709,829 · +233.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% White 23% Two or more races 20% Black 8% Asian 1%
• Hispanic origin (detail): Mexican 61%
• Common ancestry: Slovak 1%
• Foreign-born: 18% · Canada
• Languages at home: 50% English-only · Spanish 48%

Political lean MEDSL · Ector

• 2024 margin: Solid R (+52.9) · D 23.2% · R 76.1%
• 2008→2024 swing: -4.9pp toward R · 2008: -48.0pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+47.8 2016: R+40.6 2012: R+48.9 2008: R+48.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.66%
• Current HPI: 254.9159
• Rent YoY: ▼ -0.66%
• Metro: Odessa, 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

+57.7% since first listed

11 events — show timeline

• 2026-06-15 Listed $235,000 ODMLS
• 2022-04-21 Sold (Public Records) — Public Records
• 2022-04-14 Sold (MLS) — ODMLS
• 2021-11-22 Listed $200,000 ODMLS
• 2016-11-21 Sold (Public Records) — Public Records
• 2016-11-18 Sold (MLS) — ODMLS
• 2016-08-13 Listed $169,900 ODMLS
• 2014-06-26 Sold (Public Records) — Public Records
• 2014-06-20 Sold (MLS) — ODMLS
• 2014-04-17 Listed $149,000 ODMLS
• 1994-03-01 Sold (Public Records) — Public Records

Property tax history

+5.8%/yr

Latest (2025): $4,287 · +7.4% YoY. Source: county tax records.