505 Jordan Ln

Odessa, TX 79766

$159,900B+

4 bd · 4.0 ba · 1,280 sqft · Built 2025 · Manufactured · Active · 465 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,487/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$522
• Net cashflow: $994/mo
• Annual: $11,923/yr
• Cap rate: 13.75%
• Cash-on-cash: 26.63%
• DSCR: 2.18
• 1% rule: 1.56%
• Cash to close: $44,772

Investor read

• This is a 4-bed/4.0-bath manufactured listed at $160k. Condition is rated fair.
• At list price, monthly cash flow is $994 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 465 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.9% local appreciation)).
• 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.
• Crane ISD (town): math 36% / reading 33% proficiency, ranked #510 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crane El (math 30% / reading 29%, grade F, #2,525 of 4,322 statewide, top 62%, 590 students, 68% FRL); Crane Middle (math 31% / reading 31%, grade F, #1,015 of 1,662 statewide, top 62%, 258 students, 60% FRL); Crane H S (math 67% / reading 47%, grade C, #333 of 1,632 statewide, top 22%, 331 students, 55% FRL) — zoned schools average 61% FRL vs 31% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; 2 units permitted in Crane County in 2024 (0 in 5+ unit buildings).
• Crane County population projected at +71% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• It's been on market 465 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Landscaping — No visible landscaping or curb appeal
• Major: Exterior cleaning — Dirt and debris on the ground
• Major: Flooring replacement — Worn wood flooring
• Major: Painting — Some discoloration on walls