| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 43rd | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 N Jackson Ave, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1975 |
| Units | 46 |
| Transaction Date | 2007-12-27 |
| Transaction Price | $625,000 |
| Buyer | CHAMBERS STEVEN |
| Seller | CHAMBERS NANCY |
1120 N Jackson Ave Odessa Value-Add Multifamily
Neighborhood renter concentration sits in the top quartile locally with occupancy holding near stable, according to WDSuite’s CRE market data, suggesting a consistent tenant base. The 1975 vintage points to pragmatic renovation upside and operational improvements to enhance competitiveness.
Located in an Inner Suburb of Odessa, the neighborhood shows mixed fundamentals for investors. Restaurants are relatively accessible (competitive among the 39 Odessa neighborhoods), while everyday services like grocery, parks, and pharmacies are limited locally, indicating a more car-oriented setting. Average school ratings trend above the national median, which can support long-term renter appeal for families.
The neighborhood’s renter-occupied share is in the top quartile among 39 metro neighborhoods, pointing to a deeper tenant base and steadier multifamily demand. Neighborhood occupancy sits in the high-80% range and has edged up over the past five years; this refers to neighborhood-level occupancy, not the property. Based on multifamily property research from WDSuite, these dynamics generally support baseline leasing stability with room for operational lift.
Home values in the neighborhood are low relative to national norms, creating some competition from entry-level ownership. For investors, this typically favors workforce positioning and attention to retention and value proposition versus for-sale alternatives rather than aggressive rent-led strategies.
Within a 3-mile radius, recent years show population contraction but a modest increase in households, indicating smaller household sizes and a potential broadening of the renter pool. Income trends in the surrounding area have improved, which can reinforce collections and renewal rates when paired with disciplined rent-to-income management.
The property’s 1975 construction is slightly newer than the neighborhood’s older housing stock. Investors should plan for system modernization and targeted interior updates to sharpen the asset’s competitive position against both older legacy properties and refreshed comparables.
Safety conditions in this neighborhood track below both the metro average and the national median, based on WDSuite’s CRE market data. However, the most recent year showed a notable improvement in violent incident trends compared with many areas nationwide, indicating some positive momentum. These figures are neighborhood-level indicators and should be paired with on-the-ground diligence and trend monitoring.
This 46-unit, 1975-vintage asset offers a straightforward value-add path in an Odessa Inner Suburb with a renter base that ranks in the top quartile locally and neighborhood occupancy that has ticked up over the last five years. According to CRE market data from WDSuite, neighborhood home values are low versus national norms, so a durable strategy centers on competitive finishes, responsive management, and resident retention rather than outsized rent pushes. Within a 3-mile radius, households have increased even as population edged lower, signaling smaller household sizes and a potentially wider renter pool that can support occupancy stability.
Operationally, investors should underwrite capital for systems and interior modernization due to the 1975 vintage, and calibrate pricing to maintain a healthy rent-to-income profile that supports renewals and collections. Limited nearby daily amenities suggest emphasizing on-site convenience and service to strengthen lease retention.
- Renter concentration in top quartile locally supports tenant demand depth
- Neighborhood occupancy trending stable, aiding baseline cash flow consistency
- 1975 vintage with clear value-add and systems modernization opportunities
- Workforce positioning advisable where ownership is relatively accessible
- Risks: below-metro safety profile and limited nearby amenities may require stronger on-site services and resident engagement