308 W 81st St · Odessa, TX 79764

$168,000

3 bd · 2.0 ba · 962 sqft · SingleFamily public records · 127 Days on market

Built 1930 0.78 ac lot $175/sqft · 46% above area Est $304k · 45% 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 +16.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS PROPERTY HAD 3 HOMES ON IT THE BACK TO HOMES NEED WORK AND NEED TO BE TIED IN TO THE WATER WELL. FRONT HOUSE IS RENTED AND THE WINDOW UNITS BELONG TO THE TENANT IT IS APPOINTMENT ONLY WITH 48 HOUR NOTICE

Key facts

• 0.78 acre lot
• Garage
• Built 1930

🏷️ Possibly a rental listed for sale. The $168,000 price doesn't fit this home's estimated sale value (~$304,357) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $112 ($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 $152k (9.7% below list).
• Recommended offer: $148k (12.0% 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, schools F.
• 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.
• Market conditions: 107 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 127 days — a 12% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (median comp): $304,357
• List price: $168,000
• Delta: -44.80%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-20,116
• Equity at exit: $25,049

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-8,428
• Equity at exit: $14,526

Cash invested: $47,040 (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 79764

• Home prices YoY: -28.0%
• Active inventory: 107
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,517 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$135 /mo · $1,625/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $112

Break-even live

Break-even rent $1,375

Max offer price $168,000

Occupancy floor 88%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8637 Tulane Ave Odessa, TX	3.0	2.0	1044	$1,700	$1.63	43d	1	1.18mi
9100 Andrews Hwy Odessa, TX	1.0–2.0	1.0–1.5	645	$1,259	$1.95	13d	5	1.21mi

Listing history 24 events

1. 2026-06-19
   days on market $168,000 Active 127 DOM
2. 2026-06-18
   days on market $168,000 Active 126 DOM
3. 2026-06-17
   days on market $168,000 Active 125 DOM
4. 2026-06-16
   days on market $168,000 Active 124 DOM
5. 2026-06-15
   days on market $168,000 Active 123 DOM
6. 2026-06-14
   days on market $168,000 Active 121 DOM
7. 2026-06-13
   days on market $168,000 Active 120 DOM
8. 2026-06-10
   days on market $168,000 Active 118 DOM
9. 2026-06-09
   days on market $168,000 Active 117 DOM
10. 2026-06-08
    days on market $168,000 Active 116 DOM
11. 2026-06-07
    days on market $168,000 Active 115 DOM
12. 2026-06-03
    days on market $168,000 Active 110 DOM
13. 2026-06-01
    days on market $168,000 Active 109 DOM
14. 2026-05-31
    days on market $168,000 Active 108 DOM
15. 2026-05-30
    days on market $168,000 Active 107 DOM
16. 2026-03-10
    price $168,000
17. 2026-02-02
    listed $175,000 Active 208-char remark

    Show marketing remark (208 chars)

    THIS PROPERTY HAD 3 HOMES ON IT THE BACK TO HOMES NEED WORK AND NEED TO BE TIED IN TO THE WATER WELL. FRONT HOUSE IS RENTED AND THE WINDOW UNITS BELONG TO THE TENANT IT IS APPOINTMENT ONLY WITH 48 HOUR NOTICE

18. 2024-08-23
    historical $1,200
19. 2024-08-21
    listed $1,200
20. 2024-03-14
    historical $850
21. 2024-01-20
    listed $850
22. 2022-07-29
    price $1,200
23. 2013-03-12
    soldstatus
24. 1993-02-01
    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: $1,625 · $135/mo
• Projected year-2 tax: $3,074 · $256/mo
• Expected delta: +$1,449/yr (+$121/mo · 89.2%)

ⓘ 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 7/10 Severe
• 🌡 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: $18,203
• − Mortgage interest: −$9,411
• − Property taxes: −$1,625
• − Insurance: −$840
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$4,887
• Taxable loss: −$1,472
• Est. tax savings @ 24.0%: +$353
• After-tax cash flow: $1,697/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

• City population: 131,169
• Population (ZIP): 26,805

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: Majority Hispanic (59%)
• Race & ethnicity: Hispanic / Latino 59% White 37% Two or more races 17% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Slovak 1%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 54% English-only · Spanish 45% Vietnamese 1%

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: ▼ -92.67%
• Current HPI: 238.7065
• Rent YoY: —
• Metro: —
• 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

+13900.0% since first listed

9 events — show timeline

• 2026-03-10 Price Changed $168,000 ODMLS
• 2026-02-02 Listed $175,000 PBBOR
• 2024-08-23 Rental Removed $1,200 APPFOLIO
• 2024-08-21 Listed for Rent $1,200 APPFOLIO
• 2024-03-14 Rental Removed $850 APPFOLIO
• 2024-01-20 Listed for Rent $850 APPFOLIO
• 2022-07-29 Price Changed $1,200 RENT.
• 2013-03-12 Sold (Public Records) — Public Records
• 1993-02-01 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,625 · +6.9% YoY. Source: county tax records.