6701-102 Eastridge Rd #102

Odessa, TX 79762

$68,000B-

1 bd · 1.0 ba · 638 sqft · Built 1983 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,486/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$113
• HOA: −$120
• Vac / Maint / Mgmt: −$312
• Net cashflow: $584/mo
• Annual: $7,012/yr
• Cap rate: 16.61%
• Cash-on-cash: 36.83%
• DSCR: 2.64
• 1% rule: 2.19%
• Cash to close: $19,040

Investor read

• This is a 1-bed/1.0-bath single-family listed at $68k. Condition is rated fair.
• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: L B Johnson El (math 26% / reading 27%, grade F, #2,927 of 4,322 statewide, top 68%, 517 students, 67% FRL); Nimitz Middle (math 29% / reading 36%, grade F, #947 of 1,662 statewide, top 58%, 1,303 students, 51% FRL); Permian H S (math 19% / reading 29%, grade F, #1,333 of 1,632 statewide, top 82%, 3,978 students, 51% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising (+1.4%/yr); 263 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,004 units permitted in Ector County in 2024 (0 in 5+ unit buildings).
• Ector County population projected at +78% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.