4804 Country Club Dr · Midland, TX 79703

$299,200

6 bd · 4.0 ba · 1,496 sqft · MultiFamily public records · 28 Days on market

Built 1980

---

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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Two bedroom , one bath duplex on one side , one bedroom , one bath on the other side. Rinse for twelve hundred on the one bedroom and fourteen fifty on the two.

Key facts

• Built 1980
• Listed 27 days

Property features AI

Exterior

• Home design: Built in 1980
• Exterior features: Located in the Westgate Acres subdivision

Interior

• Interior features: Living area of 600

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $998 ($12k/yr) — positive. Per door: $499/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 soft (-0.3%/yr); 64 active listings in the ZIP; solid renter incomes; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• At $3,669/mo this rent would consume 57% of the median local household income ($77k/yr) (locally 417% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• It's been on market 28 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,712 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.30%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $4,299
• Equity at exit: $44,612

10-year hold

• IRR: 7.9%
• Equity multiple: 1.52×
• Total profit: $43,868
• Equity at exit: $25,869

Cash invested: $83,776 (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 79703

• Rents YoY: -0.3%
• Active inventory: 64
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $3,669 high
• Mortgage (P&I): −$1,569
• Tax from tax record: −$207 /mo · $2,478/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$770
• Net cashflow: $998

Break-even live

Break-even rent $2,405

Max offer price $299,200

Occupancy floor 68%

Sensitivity live

Price	-10% $1,168	-5% $1,083	+0% $998	+5% $914	+10% $829
Rent	-10% $708	-5% $853	+0% $998	+5% $1,143	+10% $1,288
Rate	-1.0pp $1,149	-0.5pp $1,074	base $998	+0.5pp $921	+1.0pp $842

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,670
Total (2 units)			$3,669

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: $74,800
• Closing costs: $8,976
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $299,200 Active 28 DOM
2. 2026-06-18
   days on market $299,200 Active 27 DOM
3. 2026-06-17
   days on market $299,200 Active 26 DOM
4. 2026-06-16
   days on market $299,200 Active 25 DOM
5. 2026-06-15
   days on market $299,200 Active 24 DOM
6. 2026-06-14
   days on market $299,200 Active 22 DOM
7. 2026-06-13
   days on market $299,200 Active 21 DOM
8. 2026-06-10
   days on market $299,200 Active 19 DOM
9. 2026-06-09
   days on market $299,200 Active 18 DOM
10. 2026-06-08
    days on market $299,200 Active 17 DOM
11. 2026-06-07
    days on market $299,200 Active 16 DOM
12. 2026-06-03
    days on market $299,200 Active 12 DOM
13. 2026-06-02
    days on market $299,200 Active 11 DOM
14. 2026-06-01
    days on market $299,200 Active 10 DOM
15. 2026-05-31
    days on market $299,200 Active 9 DOM
16. 2026-05-30
    days on market $299,200 Active 8 DOM
17. 2026-05-23
    listed $299,200 Active
18. 1994-01-25
    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: $2,478 · $207/mo
• Projected year-2 tax: $5,475 · $456/mo
• Expected delta: +$2,997/yr (+$250/mo · 120.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 21 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: $44,028
• − Mortgage interest: −$16,760
• − Property taxes: −$2,478
• − Insurance: −$1,496
• − Repairs & maintenance: −$3,522
• − Management: −$3,522
• − Depreciation: −$8,704
• Taxable income: $7,546
• Est. tax owed @ 24.0%: −$1,811
• After-tax cash flow: $10,169/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): 20,419
• Household income: $77,285
• Rent vs Own: 37.9% rent · 62.1% own
• Severe rent burden: 417.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 54% White 34% Two or more races 16% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 45% Cuban 4%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 58% English-only · Spanish 38% Arabic 1% Chinese 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: ▼ -250.72%
• Current HPI: 224.6222
• Rent YoY: ▼ -0.33%
• 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

2 events — show timeline

• 2026-05-23 Listed $299,200 FSBO.com
• 1994-01-25 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2025): $2,478 · -5.1% YoY. Source: county tax records.