| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 47th | Good |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1013 Pueblo St, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1973 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1013 Pueblo St Odessa Multifamily Investment
Neighborhood renter demand is supported by a competitive renter-occupied share and favorable rent-to-income dynamics, according to WDSuite s CRE market data, positioning this asset for steady leasing with prudent operations.
The property sits in an Inner Suburb location within Odessa, offering day-to-day convenience from grocery access (competitive among Odessa neighborhoods at rank 8 of 39 and 76th percentile nationally) and a solid restaurant mix (rank 13 of 39; competitive locally). Coverage is thinner for parks, pharmacies, and cafes (each ranking 39 of 39), so on-site amenities and resident programming can matter more for retention.
At the neighborhood level (not the property), occupancy trends are softer than the metro median (rank 29 of 39) with current occupancy measured at 89.7%. However, the renter-occupied share of housing units is competitive among Odessa neighborhoods (36.9% at rank 10 of 39; 76th percentile nationally), indicating a meaningful tenant base for multifamily. Median contract rents have risen over the last five years, and the neighborhood s rent-to-income ratio sits near 10% (82nd percentile nationally), suggesting manageable affordability pressure that can support lease retention.
Within a 3-mile radius, households have increased even as population edged lower over the last five years, pointing to smaller household sizes and a broader count of housing consumers. Forecasts show further gains in household counts alongside a modest rise in median contract rent, which can expand the renter pool and underpin occupancy stability with disciplined leasing.
For investors, the 1973 construction year is slightly older than the neighborhood average vintage (1975), which typically implies capital planning for building systems and an avenue for value-add or modernization to improve competitive positioning against newer stock. Median home values in the neighborhood trend around the national midpoint, while the value-to-income profile is more accessible than many markets; that can create some competition from ownership but also reinforces the role of well-managed rentals as a practical housing option.
Safety signals are mixed when viewed against local and national context. The neighborhood s overall crime rank is 9 out of 39 Odessa neighborhoods, indicating higher crime relative to much of the metro, yet the national positioning is modestly above average safety (55th percentile). Violent-offense indicators benchmark lower nationally (28th percentile), so active property-level security and resident engagement remain relevant.
Recent momentum is constructive: estimated violent offenses declined year over year (ranked 5 of 39 for improvement; 82nd percentile nationally for the pace of decline), and property offenses also trended down (ranked 5 of 39; 70th percentile nationally). For investors, this trajectory suggests monitoring trends and continuing preventative measures while recognizing that neighborhood conditions have been improving.
Nearby employment centers support workforce housing demand for this location; specific anchor-employer distances are being confirmed for underwriting.
This 31-unit, 1973-vintage asset leverages a competitive renter concentration and favorable rent-to-income dynamics in an Inner Suburb Odessa location. Neighborhood occupancy is below the metro median today, but a substantial renter base and rising household counts within a 3-mile radius point to steady tenant demand with focused operations and value-add execution. According to CRE market data from WDSuite, local amenities skew toward groceries and restaurants, suggesting on-site features can further differentiate the property amid limited parks, pharmacies, and cafes.
Directional indicators are supportive: neighborhood median rents have increased over five years, household incomes benchmark well, and forecasts call for additional household growth and modest rent gains in the area, which can sustain leasing and pricing power. The 1973 vintage implies targeted capital upgrades to building systems and finishes, offering potential to lift rents and retention relative to older nearby stock while managing expenses.
- Competitive renter-occupied share and favorable rent-to-income support demand depth and lease retention.
- Household growth within 3 miles and rising neighborhood rents provide a foundation for occupancy stability.
- Value-add upside from 1973 vintage via targeted system upgrades and interior modernization.
- Amenity mix favors groceries and restaurants; enhancing on-site offerings can differentiate the asset.
- Risks: softer neighborhood occupancy and mixed safety benchmarks vs. metro require active management and underwriting discipline.