2707 E 31st St · Odessa, TX 79762

$137,000

3 bd · 1.5 ba · 1,512 sqft · SingleFamily public records · 29 Days on market

Built 1951 0.26 ac lot

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Why this score? — see what drove the B- 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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom home that's ready for a new owner with a new vision! Nice layout w/ living area in front plus an oversized flex room that can be used as den/gameroom/play area. Separate formal area. Large backyard!

Key facts

• Large backyard
• Oversized flex room
• 0.26 acre lot

Tags

• OVERSIZED FLEX ROOM
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer; Propane available
• Home design: Single-family residence; Residential property
• Construction: Composition roof; Pillar/post/pier foundation; Built on 0.264-acre lot
• Exterior features: Paved road access; Solar energy generation

Interior

• Flooring: Vinyl flooring; Other flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Gas water heater; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $135k (1.5% below list) — sets the bar for market timing.

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: Dowling El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 440 students, 88% FRL); Bonham Middle (math 9% / reading 16%, grade F, #1,616 of 1,662 statewide, top 97%, 867 students, 65% FRL); 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 rising (+1.4%/yr); 263 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,004 units permitted in Ector County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $947 of loan paydown is wiped out by about $4k 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

• It's been on market 29 days — a 2% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — 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 $134,945 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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.
5. 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.
6. 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: 1.35% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.33%
• DSCR: 1.59
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.36% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $2,013
• Equity at exit: $20,427

10-year hold

• IRR: 9.2%
• Equity multiple: 1.65×
• Total profit: $25,083
• Equity at exit: $11,845

Cash invested: $38,360 (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 79762

• Rents YoY: 1.4%
• Active inventory: 263
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$718
• Tax from tax record: −$265 /mo · $3,176/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $426

Break-even live

Break-even rent $1,317

Max offer price $137,000

Occupancy floor 72%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2702 S Colonial Dr Odessa, TX	3.0	1.0	1490	$1,500	$1.01	13d	1	0.14mi
2826 Hilltop Dr Odessa, TX	4.0	2.0	1307	$2,000	$1.53	13d	1	0.36mi
1212 E Century Ave Odessa, TX	3.0	1.0	1359	$1,300	$0.96	21d	1	0.37mi
3009 N Century Ave Odessa, TX	3.0	2.0	1909	$2,600	$1.36	43d	1	0.46mi
3624 Walnut Ave Odessa, TX	3.0	1.0	1488	$1,950	$1.31	43d	1	0.50mi
1401 E 18th St Odessa, TX	3.0	2.0	1690	$2,000	$1.18	13d	1	0.55mi
2901 Nabors Ln Odessa, TX	3.0	1.0	1508	$1,800	$1.19	13d	1	0.56mi
2901 Nabors Ln Odessa, TX	3.0	1.0	1374	$1,800	$1.31	21d	1	0.56mi
2905 Byron Ave Odessa, TX	3.0	2.0	1816	$2,400	$1.32	13d	1	0.74mi
1202 E 42nd St Odessa, TX	3.0	1.0	1100	$1,650	$1.50	43d	1	0.74mi
1308 Alpine St Odessa, TX	3.0	2.0	1800	$2,195	$1.22	13d	1	0.81mi
4207 Dakota Ave Odessa, TX	3.0	2.0	1904	$2,300	$1.21	43d	1	0.90mi
1706 Emerald Ave Odessa, TX	3.0	2.0	1992	$2,500	$1.26	43d	1	0.94mi
2801 Redbud Ave Odessa, TX	3.0	2.0	1558	$1,800	$1.16	13d	1	0.95mi
1709 Byron Ave Odessa, TX	3.0	2.0	1981	$1,975	$1.00	43d	1	0.96mi
1513 E 11th St Odessa, TX	3.0	2.0	1728	$3,300	$1.91	43d	1	1.04mi
3420 Fairlane Ave Odessa, TX	3.0	2.0	2164	$2,100	$0.97	21d	1	1.09mi
237 Orchard Dr Odessa, TX	4.0	2.0	1768	$2,000	$1.13	13d	1	1.11mi
1220 Adams Ave Unit 4 Odessa, TX	4.0	1.0	1063	$1,750	$1.65	43d	1	1.11mi
4233 Bonham Ave Odessa, TX	3.0	2.0	1144	$1,600	$1.40	43d	1	1.22mi
4217 Redbud Ave Odessa, TX	3.0	1.5	1203	$2,200	$1.83	13d	1	1.23mi
1012 Adams Ave Unit C2BBUILDING C Odessa, TX	4.0	1.0	1066	$1,750	$1.64	43d	1	1.25mi
1012 Adams Ave Unit C1BBUILDING C Odessa, TX	4.0	1.0	1066	$1,800	$1.69	43d	1	1.25mi
3812 E Everglade Ave Odessa, TX	3.0	2.0	1861	$2,500	$1.34	21d	1	1.25mi
3800 N Golder Ave Odessa, TX	3.0	2.0	1050	$1,600	$1.52	21d	1	1.27mi
1315 N Jackson Ave Odessa, TX	3.0	2.0	1216	$1,500	$1.23	13d	1	1.29mi
2608 Cumberland Rd Odessa, TX	2.0	2.0	1404	$1,500	$1.07	13d	1	1.29mi
4256 Bonham Ave Odessa, TX	3.0	2.0	1261	$1,600	$1.27	21d	1	1.30mi
1813 Petroleum Dr Odessa, TX	3.0	2.0	1299	$1,700	$1.31	21d	1	1.38mi
3824 Englewood Cir Odessa, TX	2.0	1.5	1150	$1,295	$1.13	13d	1	1.39mi
3902 Englewood Cir Odessa, TX	2.0	1.5	1280	$1,445	$1.13	13d	1	1.39mi
3904 Englewood Cir Odessa, TX	2.0	1.0	1280	$1,445	$1.13	13d	1	1.41mi
701 Hillcrest Ave Odessa, TX	3.0	2.0	1344	$1,400	$1.04	43d	1	1.42mi
3907 Englewood Cir Odessa, TX	2.0	1.5	1170	$1,395	$1.19	13d	1	1.43mi
1604 N Sam Houston Ave Odessa, TX	2.0	1.0	1142	$2,000	$1.75	43d	1	1.44mi
3509 N Golder Ave Odessa, TX	3.0	2.0	1216	$1,700	$1.40	13d	1	1.45mi
3616 E 30th St Odessa, TX	3.0	2.0	1436	$1,995	$1.39	43d	1	1.45mi
3802 Englewood Cir Odessa, TX	2.0	1.5	1150	$1,295	$1.13	13d	1	1.46mi
1119 E 51st St Odessa, TX	2.0	1.5	1169	$1,500	$1.28	13d	1	1.46mi
1322 N Lincoln Ave Odessa, TX	3.0	1.0	1218	$2,100	$1.72	21d	1	1.48mi

Listing history 17 events

1. 2026-06-19
   days on market $137,000 Active 29 DOM
2. 2026-06-18
   days on market $137,000 Active 28 DOM
3. 2026-06-17
   days on market $137,000 Active 27 DOM
4. 2026-06-16
   days on market $137,000 Active 26 DOM
5. 2026-06-15
   days on market $137,000 Active 25 DOM
6. 2026-06-14
   days on market $137,000 Active 23 DOM
7. 2026-06-13
   days on market $137,000 Active 22 DOM
8. 2026-06-10
   days on market $137,000 Active 20 DOM
9. 2026-06-09
   days on market $137,000 Active 19 DOM
10. 2026-06-08
    days on market $137,000 Active 18 DOM
11. 2026-06-07
    days on market $137,000 Active 17 DOM
12. 2026-06-03
    days on market $137,000 Active 12 DOM
13. 2026-06-01
    days on market $137,000 Active 11 DOM
14. 2026-05-31
    days on market $137,000 Active 10 DOM
15. 2026-05-30
    days on market $137,000 Active 9 DOM
16. 2026-05-21
    listed $137,000 Active
17. 1992-09-01
    soldstatus

ⓘ 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: $3,176 · $265/mo
• Projected year-2 tax: $3,176 · $265/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥101°F today · 22 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: $22,273
• − Mortgage interest: −$7,674
• − Property taxes: −$3,176
• − Insurance: −$685
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$3,985
• Taxable income: $3,189
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $4,348/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): 39,927
• Household income: $75,272
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1477.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 52% White 38% Two or more races 22% Black 6% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 45% Cuban 3%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 68% English-only · Spanish 30%

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: ▼ -194.97%
• Current HPI: 229.6022
• Rent YoY: ▲ 1.36%
• 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

2 events — show timeline

• 2026-05-21 Listed $137,000 ODMLS
• 1992-09-01 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $3,176 · +4.3% YoY. Source: county tax records.