406 E 42nd St · Odessa, TX 79762

$115,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 80 Days on market

Built 1955 7,579 sqft lot ↓ 12% since listing

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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 MLS

Calling all investors! Centrally located 2 bedroom 1 bath with large backyard. Plenty of room to expand! Call today for an appointment!

Key facts

• Large backyard
• 7,579 sq ft lot
• Garage

Tags

• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% 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: Rents rising (+1.4%/yr); 263 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $795 of loan paydown is wiped out by about $3k 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 80 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 1.23% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.93%
• DSCR: 1.53
• GRM: 6.8

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-526
• Equity at exit: $17,147

10-year hold

• IRR: 7.4%
• Equity multiple: 1.52×
• Total profit: $16,761
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$147 /mo · $1,764/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $320

Break-even live

Break-even rent $1,010

Max offer price $115,000

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3727 Andrews Hwy Odessa, TX	1.0–2.0	1.0–2.0	800	$1,350	$1.69	13d	18	0.48mi
803 E 18th St Odessa, TX	1.0	1.0	675	$1,200	$1.78	13d	1	1.39mi
1909 N Hancock Ave Odessa, TX	2.0	1.0	672	$1,600	$2.38	44d	1	1.41mi

Listing history 18 events

1. 2026-06-19
   days on market $115,000 Active 80 DOM
2. 2026-06-18
   days on market $115,000 Active 79 DOM
3. 2026-06-17
   days on market $115,000 Active 78 DOM
4. 2026-06-16
   days on market $115,000 Active 77 DOM
5. 2026-06-15
   days on market $115,000 Active 76 DOM
6. 2026-06-14
   days on market $115,000 Active 74 DOM
7. 2026-06-13
   days on market $115,000 Active 73 DOM
8. 2026-06-10
   days on market $115,000 Active 71 DOM
9. 2026-06-09
   days on market $115,000 Active 70 DOM
10. 2026-06-08
    days on market $115,000 Active 69 DOM
11. 2026-06-07
    days on market $115,000 Active 68 DOM
12. 2026-06-03
    days on market $115,000 Active 63 DOM
13. 2026-06-01
    days on market $115,000 Active 62 DOM
14. 2026-05-31
    days on market $115,000 Active 61 DOM
15. 2026-05-30
    days on market $115,000 Active 60 DOM
16. 2026-05-08
    price $115,000 135-char remark

    Show marketing remark (135 chars)

    Calling all investors! Centrally located 2 bedroom 1 bath with large backyard. Plenty of room to expand! Call today for an appointment!

17. 2026-03-31
    listed $130,000 Active 135-char remark

    Show marketing remark (135 chars)

    Calling all investors! Centrally located 2 bedroom 1 bath with large backyard. Plenty of room to expand! Call today for an appointment!

18. 2012-05-24
    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: $1,764 · $147/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$341/yr (+$28/mo · 19.3%)

ⓘ 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 6/10 Major
• 🌡 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: $16,983
• − Mortgage interest: −$6,442
• − Property taxes: −$1,764
• − Insurance: −$575
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$3,345
• Taxable income: $2,139
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $3,327/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

-11.5% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $115,000 ODMLS
• 2026-03-31 Listed $130,000 ODMLS
• 2012-05-24 Sold (Public Records) — Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,764 · +4.3% YoY. Source: county tax records.