400 Player Ct · Midland, TX 79705

$255,000

3 bd · 2.0 ba · 1,370 sqft · SingleFamily public records · 18 Days on market

Built 1982 9,583 sqft lot

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• 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

Adorable updated 3 bed, 2 bath home on a corner lot. This house features granite, new tile flooring, and updated bathrooms and is just perfect for you. You wont regret looking at this one.

Key facts

• Tile floors
• New paint
• Updated bathrooms

Tags

• CORNER LOT
• NEW PAINT
• TILE FLOORS
• UPDATED BATHROOMS
• GRANITE
• FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $56 ($672/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 $225k (11.7% below list).
• Recommended offer: $225k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: crime C-, commute D+, amenities 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.
• Zoned schools: Emerson El (math 52% / reading 54%, grade C, #705 of 4,322 statewide, top 17%, 489 students, 51% FRL); San Jacinto J H (math 26% / reading 35%, grade F, #1,036 of 1,662 statewide, top 63%, 829 students, 54% FRL); Midland H S (math 37% / reading 7%, grade F, #1,366 of 1,632 statewide, top 84%, 2,492 students, 44% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 452 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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

• It's been on market 18 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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: severe 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 $225,257 (11.7% below list)

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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
3. 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.
4. 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.
5. 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: 0.88% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-38,736
• Equity at exit: $38,021

10-year hold

• IRR: -7.5%
• Equity multiple: 0.54×
• Total profit: $-33,135
• Equity at exit: $22,048

Cash invested: $71,400 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,253 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$280 /mo · $3,360/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $56

Break-even live

Break-even rent $2,182

Max offer price $255,000

Occupancy floor 93%

Sensitivity live

Price	-10% $200	-5% $128	+0% $56	+5% $-16	+10% $-88
Rent	-10% $-122	-5% $-33	+0% $56	+5% $145	+10% $234
Rate	-1.0pp $184	-0.5pp $121	base $56	+0.5pp $-10	+1.0pp $-77

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4407 Trevino St Midland, TX	3.0	2.0	1635	$2,500	$1.53	15d	1	0.19mi
3700 N Edwards St Midland, TX	1.0–2.0	1.0–2.0	957	$1,911	$2.00	15d	18	0.22mi
3600 Edwards St Midland, TX	1.0–3.0	1.0–2.0	980	$2,886	$2.94	15d	19	0.42mi
1212 E Wadley Ave Unit 1223 Midland, TX	2.0	2.0	932	$1,138	$1.22	22d	1	0.65mi
3214 Carver St Midland, TX	3.0	2.0	1286	$2,300	$1.79	45d	1	0.68mi
202 E Shandon Ave Midland, TX	3.0	2.0	1231	$2,400	$1.95	22d	1	0.69mi
1302 Milltown Rd Midland, TX	3.0	2.0	1774	$2,950	$1.66	15d	1	0.79mi
1310 Milltown Rd Midland, TX	2.0	2.0	1686	$2,800	$1.66	45d	1	0.80mi
1314 Milltown Rd Midland, TX	2.0	2.5	1779	$2,850	$1.60	45d	1	0.80mi
1316 Milltown Rd Midland, TX	2.0	2.0	1724	$2,800	$1.62	45d	1	0.80mi
1324 Milltown Rd Midland, TX	3.0	2.0	1781	$2,950	$1.66	45d	1	0.82mi
3700 N A St Midland, TX	1.0–2.0	1.0–2.0	971	$2,039	$2.10	15d	1	0.91mi
407 W Spruce Ave Unit A-1 Midland, TX	2.0	2.0	1078	$1,600	$1.48	22d	1	1.03mi
410 W Pine Ave Unit B Midland, TX	2.0	1.0	1140	$1,850	$1.62	22d	1	1.07mi
416 Maple Ave Midland, TX	3.0	2.0	1107	$1,750	$1.58	22d	1	1.12mi
711 W Dormard Ave Midland, TX	3.0	2.0	1427	$2,150	$1.51	45d	1	1.15mi
5101 N A St Midland, TX	1.0–2.0	1.0–2.0	1033	$1,705	$1.65	15d	14	1.15mi
2602 N Pecos St Unit B Midland, TX	2.0	2.0	1663	$2,300	$1.38	15d	1	1.17mi
110 Pavilion Pkwy Midland, TX	1.0–3.0	1.0–2.0	985	$2,224	$2.26	15d	19	1.26mi
2301 N Pecos St Midland, TX	2.0	2.0	1082	$1,612	$1.49	45d	2	1.32mi
2301 N Pecos St Midland, TX	2.0	1.0–2.0	1053	$1,562	$1.48	22d	3	1.32mi
1307 Santa Clara Dr Midland, TX	3.0	2.0	1704	$2,900	$1.70	46d	1	1.37mi
1500 Laguna Meadows Trl Midland, TX	3.0	2.0	1868	$2,500	$1.34	22d	1	1.40mi
1507 Laguna Meadows Trl Midland, TX	4.0	2.0	1703	$2,600	$1.53	45d	1	1.44mi
405 Humble Ave Midland, TX	2.0	1.0	876	$1,250	$1.43	45d	1	1.46mi
1412 Mockingbird Ln Midland, TX	1.0–3.0	1.0–2.0	959	$2,635	$2.75	15d	22	1.48mi

Listing history 7 events

1. 2025-08-14
   soldstatus
2. 2025-07-12
   status Pending
3. 2025-06-24
   listed $255,000 Active
4. 2023-02-08
   soldstatus
5. 2023-02-07
   soldstatus Closed 188-char remark

   Show marketing remark (188 chars)

   Adorable updated 3 bed, 2 bath home on a corner lot. This house features granite, new tile flooring, and updated bathrooms and is just perfect for you. You wont regret looking at this one.

6. 2023-01-02
   listed $245,000 Active 188-char remark

   Show marketing remark (188 chars)

   Adorable updated 3 bed, 2 bath home on a corner lot. This house features granite, new tile flooring, and updated bathrooms and is just perfect for you. You wont regret looking at this one.

7. 1991-05-21
   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: $3,360 · $280/mo
• Projected year-2 tax: $4,666 · $389/mo
• Expected delta: +$1,306/yr (+$109/mo · 38.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥102°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: $27,031
• − Mortgage interest: −$14,284
• − Property taxes: −$3,360
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,162
• − Management: −$2,162
• − Depreciation: −$7,418
• Taxable loss: −$3,632
• Est. tax savings @ 24.0%: +$872
• After-tax cash flow: $1,544/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

+4.1% since first listed

7 events — show timeline

• 2025-08-14 Sold (Public Records) — Public Records
• 2025-07-12 Pending — PBBOR
• 2025-06-24 Listed $255,000 PBBOR
• 2023-02-08 Sold (Public Records) — Public Records
• 2023-02-07 Sold (MLS) — ODMLS
• 2023-01-02 Listed $245,000 ODMLS
• 1991-05-21 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,360 · +12.9% YoY. Source: county tax records.