14001 W County Rd 178

Odessa, TX 79766

$229,900B-

3 bd · 2.0 ba · 1,456 sqft · Built 2019 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,371/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$498
• Net cashflow: $490/mo
• Annual: $5,875/yr
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• 1% rule: 1.03%
• Cash to close: $64,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $230k.
• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (4.9% local appreciation)).
• 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.
• 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.
• Zoned schools: Scharbauer El (math 25% / reading 24%, grade F, #3,052 of 4,322 statewide, top 74%, 696 students, 69% FRL); Goddard J H (math 23% / reading 32%, grade F, #1,156 of 1,662 statewide, top 71%, 1,024 students, 58% FRL, charter); Midland H S (math 37% / reading 7%, grade F, #1,366 of 1,632 statewide, top 84%, 2,492 students, 44% FRL).
• Market conditions: 95 active listings in the ZIP; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• Midland County population projected at +83% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.