| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 28th | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1411 S Grant Ave, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1981 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1411 S Grant Ave Odessa 80-Unit Multifamily
Neighborhood occupancy is competitive among Odessa neighborhoods and sits above the national median, supporting stable leasing potential according to WDSuite’s CRE market data.
Located in an Inner Suburb setting of Odessa, the property benefits from a neighborhood rated A- and ranked 8th among 39 metro neighborhoods, signaling solid overall fundamentals for multifamily demand. Restaurants and cafes are dense for the metro—both categories rank 2nd of 39—placing the area competitive among Odessa neighborhoods and in the 90th+ national percentiles, while groceries and parks also show above-median access. Limited pharmacy presence is a noted gap.
Rents in the neighborhood are mid-range (median contract rent around the mid-$900s with meaningful five-year growth), and the neighborhood occupancy rate around 95.8% sits in the 76th national percentile, indicating durable absorption and lease-up prospects. The neighborhood s renter concentration is about 33.5% of housing units being renter-occupied, suggesting a reasonably sized tenant base without overreliance on rentals.
Within a 3-mile radius, households have increased roughly 11% over five years even as population edged down, reflecting smaller average household sizes and a shift that can expand the renter pool and support occupancy stability. Looking forward, projections indicate continued growth in household counts alongside further declines in average household size, which typically supports steady demand for multifamily units.
Vintage also matters for competitiveness. The neighborhood s average construction year is 1968, while this asset was built in 1981, making it newer than much of the local stock. This positioning can help against older comparables, though investors should plan for lifecycle capital on 1980s systems and consider targeted value-add to meet current renter expectations.
Ownership costs in the area are comparatively low by national standards, which can create some competition with entry-level ownership. At the same time, a rent-to-income ratio near 0.21 points to manageable affordability pressure that can aid resident retention and reduce turnover risk in a well-managed asset.
Safety indicators sit below the national median overall, and the neighborhood ranks 32nd out of 39 Odessa neighborhoods on crime, indicating investors should underwrite for prudent security and insurance assumptions. That said, recent trend data shows the violent offense rate moving in a favorable direction (improving on a year-over-year basis), suggesting some momentum even as property offenses warrant continued monitoring.
In national context, the neighborhood s safety metrics align roughly with the 25th–35th percentiles, which is not top tier but manageable with appropriate property management, lighting, and access controls. Use these figures as comparative benchmarks rather than block-level indicators, and evaluate on-site conditions during due diligence.
This 80-unit asset built in 1981 offers a balanced combination of occupancy durability and operational upside relative to older neighborhood stock. The surrounding area posts above-median occupancy nationally and ranks competitively within the Odessa metro, while dense food-and-beverage amenities support renter convenience. Within a 3-mile radius, household counts have risen even as population declined, indicating smaller household sizes and a larger tenant base that can support steady leasing. According to CRE market data from WDSuite, neighborhood rents are mid-range with solid five-year growth, aligning with a rent-to-income ratio near 0.21 that supports retention with disciplined pricing.
Investment considerations include lifecycle capital for 1980s systems and measured expectations on rent growth given comparatively accessible ownership costs in the area. Safety trends sit below the national median, though recent improvement in violent offense rates is a positive signal; underwriting should incorporate appropriate security measures and insurance provisioning.
- Competitive neighborhood occupancy supports leasing stability
- 1981 vintage is newer than local average, with value-add potential
- 3-mile household growth and smaller sizes expand the renter pool
- Mid-range rents and manageable rent-to-income ratio aid retention
- Risks: below-median safety metrics and competition from ownership options