1106 W 67th St

Odessa, TX 79763

$255,000D

4 bd · 2.0 ba · 2,488 sqft · Built 1965 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,084/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$221
• HOA: −$0
• Vac / Maint / Mgmt: −$438
• Net cashflow: $88/mo
• Annual: $1,054/yr
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• 1% rule: 0.82%
• Cash to close: $71,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $255k.
• At list price, monthly cash flow is $88 ($1k/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 $208k (18.3% below list).
• It's been on market 47 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (18.3% 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 $8k 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: Goliad El (math 18% / reading 20%, grade F, #3,739 of 4,322 statewide, top 87%, 606 students, 85% 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) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 123 active listings in the ZIP; 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.
• 2 sale attempts since 9y 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.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 44% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.
• 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.