1803 N Garfield St · Midland, TX 79705

$250,000

3 bd · 2.0 ba · 2,238 sqft · SingleFamily public records

Built 1982 Est $372k · 33% under

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Why this score? — see what drove the C 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 +20.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

IDEAL HOME FOR BUYER LOOKING FOR LOW MAINTENANCE HOME W/ NEW PAINT & CARPET. THERE ARE 2LAS - ON IS GREAT FOR HOME OFFICE, CIRCLE DRIVE, OVER 2200 SQ FT, VACANT, EASY TO SHOW. SELLER READY TO SELL!

Key facts

• Built 1982

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 7.8% 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; 31 comparable units currently listed for rent nearby; rentals lingering (median 44d 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; 1,504 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 $2k of loan paydown is wiped out by about $8k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.03% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $371,508
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2208 W Golf Course Rd	0.09mi	3/2.0	2,106 (-6%)	17mo	$350,000	$166	72
1806 N H St	0.54mi	4/3.0 (+1)	2,464 (+10%)	18mo	$395,000	$160	34

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-21,087
• Equity at exit: $37,276

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $3,577
• Equity at exit: $21,615

Cash invested: $70,000 (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: 8.1×

Monthly cashflow live

• Estimated rent: $2,587 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$306 /mo · $3,673/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $322

Break-even live

Break-even rent $2,179

Max offer price $250,000

Occupancy floor 83%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2204 Boyd Ave Midland, TX	3.0	2.0	2068	$3,000	$1.45	43d	1	0.13mi
1603 N L St Midland, TX	4.0	3.0	2230	$3,200	$1.43	43d	1	0.34mi
1902 N I St Midland, TX	3.0	2.5	2178	$2,400	$1.10	43d	1	0.51mi
2601 Bedford Dr Midland, TX	3.0	2.0	2108	$2,200	$1.04	13d	1	0.62mi
1305 Lawson Ave Midland, TX	3.0	2.0	2065	$2,450	$1.19	43d	1	0.67mi
2218 N H St Midland, TX	2.0	3.0	2272	$3,500	$1.54	43d	1	0.69mi
1511 Bedford Dr Midland, TX	3.0	2.0	1732	$2,500	$1.44	43d	1	0.73mi
2406 W Louisiana Ave Midland, TX	2.0	1.5	1620	$2,500	$1.54	43d	1	0.84mi
3114 Shell Ave Midland, TX	4.0	2.0	2260	$2,999	$1.33	21d	1	0.85mi
1413 Ventura Ave Midland, TX	3.0	2.0	2400	$2,895	$1.21	43d	1	0.89mi
2603 W Wadley Ave Midland, TX	3.0	2.0	1600	$1,900	$1.19	21d	1	0.94mi
2100 W Wadley Ave Unit L1 Midland, TX	3.0	3.0	1854	$2,300	$1.24	43d	1	0.96mi
2928 W Louisiana Ave Unit 213 Midland, TX	3.0	2.0	1450	$1,400	$0.97	43d	1	0.97mi
11 Marchelle Ct Midland, TX	4.0	2.0	2714	$3,200	$1.18	43d	1	1.00mi
806 Neely Ave Midland, TX	3.0	3.5	2767	$3,900	$1.41	43d	1	1.08mi
3302 Fannin Ave Midland, TX	3.0	2.0	1533	$2,000	$1.30	21d	1	1.13mi
1513 Club Dr Midland, TX	2.0	2.0	1502	$2,300	$1.53	21d	1	1.13mi
3209 W Wadley Ave Unit A Midland, TX	3.0	2.0	1512	$2,500	$1.65	43d	1	1.17mi
1002 W Louisiana Ave Midland, TX	2.0	1.5	1472	$2,500	$1.70	43d	1	1.20mi
3326 W Dengar Ave Midland, TX	4.0	3.0	2000	$2,500	$1.25	21d	1	1.29mi
711 W Dormard Ave Midland, TX	3.0	2.0	1427	$2,150	$1.51	43d	1	1.35mi
3401 Storey Ave Midland, TX	3.0	2.0	1531	$2,200	$1.44	43d	1	1.35mi
3401 Storey Ave Midland, TX	3.0	2.0	1531	$2,200	$1.44	21d	1	1.35mi
3105 Barkley Ave Midland, TX	4.0	2.0	1730	$2,350	$1.36	13d	1	1.38mi
2602 N Pecos St Unit B Midland, TX	2.0	2.0	1663	$2,300	$1.38	13d	1	1.39mi
3300 Durant Dr Midland, TX	4.0	3.5	2982	$3,650	$1.22	13d	1	1.40mi
3300 Durant Dr Midland, TX	3.0	3.5	2982	$4,400	$1.48	43d	1	1.40mi
2800 N Pecos St Unit B Midland, TX	3.0	2.5	2148	$2,100	$0.98	21d	1	1.43mi
2800 N Pecos St Midland, TX	3.0	3.0	2148	$2,100	$0.98	21d	1	1.43mi
2812 Mariana Ave Midland, TX	3.0	1.5	1443	$1,750	$1.21	43d	1	1.44mi
2615 Haynes Ave Unit B Midland, TX	3.0	2.0	1635	$1,950	$1.19	13d	1	1.45mi

Listing history 2 events

1. 2026-06-10
   remarks 355-char remark
2. 2026-06-10
   listed $250,000 Under Contract

ⓘ 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: $3,673 · $306/mo
• Projected year-2 tax: $4,575 · $381/mo
• Expected delta: +$902/yr (+$75/mo · 24.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 20 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: $31,042
• − Mortgage interest: −$14,004
• − Property taxes: −$3,673
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,483
• − Management: −$2,483
• − Depreciation: −$7,273
• Taxable loss: −$124
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $3,898/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

+226.8% since first listed

6 events — show timeline

• 2026-06-09 Listed $250,000 FSBO.com
• 2026-04-20 Sold (Public Records) — Public Records
• 2006-03-08 Sold (Public Records) — Public Records
• 2000-07-11 Sold (Public Records) — Public Records
• 2000-07-05 Sold (MLS) — ODMLS
• 2000-03-07 Listed $76,500 ODMLS

Property tax history

+2.7%/yr

Latest (2025): $3,673 · +6.2% YoY. Source: county tax records.