| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 20th | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1101 Fitch Ave, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 2001 |
| Units | 49 |
| Transaction Date | 2009-09-28 |
| Transaction Price | $88,500 |
| Buyer | SANCHEZ ADRIANA A |
| Seller | GREEN EAGLES DEVELOPMENT LTD |
1101 Fitch Ave Odessa, TX Multifamily Investment
Neighborhood occupancy has trended upward and sits near national midline levels, supporting steady leasing potential, according to WDSuite’s CRE market data.
Positioned in an Inner Suburb pocket of Odessa, the asset benefits from neighborhood occupancy that has improved over five years and currently tracks around the national midpoint—an indicator of baseline stability for a 49-unit property.
Livability is helped by strong parks access and childcare density, both in the top quartile nationally, while restaurants are reasonably present compared with national norms. By contrast, cafes, groceries, and pharmacies are less dense than urban cores, suggesting residents rely on a broader drive-shed for daily needs—an operating consideration for leasing narratives.
Within a 3-mile radius, households have increased even as average household size has decreased, pointing to smaller households and a larger renter pool relative to the population trend. This typically supports multifamily demand by expanding the tenant base and can aid occupancy stability.
Neighborhood rents have risen meaningfully over the last five years and sit modestly above national midline benchmarks. With a moderate rent-to-income profile, affordability pressure appears manageable for retention, though outsized rent growth likely requires demonstrable renovations or amenity upgrades rather than reliance on market lift alone.
Vintage context: the average neighborhood construction year is the mid-1970s, whereas this property was built in 2001. The newer vintage enhances competitive positioning versus older local stock; investors should still plan for system updates and targeted modernization to sharpen unit appeal.
Tenure dynamics within a 3-mile radius show roughly two-fifths of housing units are renter-occupied, indicating a viable tenant base while also signaling some competition with ownership options in a relatively accessible ownership market—placing a premium on value-forward finishes and dependable management to support lease retention.
Safety indicators trend slightly below the national median, but recent data show year-over-year declines in both violent and property offenses, suggesting gradual improvement rather than deterioration. Relative to the 39 Odessa neighborhoods, conditions appear closer to metro average than top-tier.
For underwriting, assume standard risk management: lighting, access control, and visible maintenance to support resident confidence and retention, along with insurance and security practices aligned with Odessa peers.
Built in 2001, this 49-unit asset competes well against older neighborhood stock while offering pragmatic value-add upside through selective modernization. Neighborhood occupancy has improved and sits near the national midpoint, and within a 3-mile radius, more households and smaller household sizes point to a larger tenant base that supports leasing stability. According to CRE market data from WDSuite, rents trend modestly above national midline benchmarks, and a moderate rent-to-income profile supports retention if operators pair disciplined pricing with unit improvements.
Forward-looking, local ownership costs remain comparatively accessible, so execution should emphasize durable renter appeal—functional renovations, reliable maintenance, and responsive management—to differentiate from entry-level ownership alternatives while addressing amenity gaps with on-site convenience offerings.
- 2001 vintage offers competitive positioning versus older neighborhood stock with targeted renovation upside
- Neighborhood occupancy near national midpoint with five-year improvement supports baseline stability
- 3-mile household growth and smaller household sizes expand the tenant base and support leasing
- Moderate rent-to-income dynamics support retention when paired with disciplined pricing and upgrades
- Risks: amenity gaps (groceries/pharmacies) and safety perception require active management and resident-facing improvements