| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 47th | Good |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1449 John Ben Shepperd Pkwy, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | 2011-09-23 |
| Transaction Price | $643,800 |
| Buyer | XIANGSHAN XANADU REALTY LLC |
| Seller | KASTLE PROPERTIES LLC |
1449 John Ben Shepperd Pkwy Odessa Multifamily Value-Add
Neighborhood occupancy is near 90% and renter concentration trends above the metro median, supporting stable leasing conditions according to WDSuite’s CRE market data.
Local fundamentals and demand drivers
Positioned in an Inner Suburb of Odessa, the neighborhood carries an A- rating and ranks 10th out of 39 metro neighborhoods — competitive among Odessa neighborhoods. Grocery access and dining density are relative strengths (both above metro medians), while parks, pharmacies, and cafes are limited, shaping a convenience profile more oriented to daily needs than recreation.
Renter-occupied housing comprises a sizable share of local units (renter concentration ranks 10th of 39; above the metro median), indicating a deeper tenant base for multifamily. Neighborhood occupancy is measured at 89.7%, which is slightly below the metro median rank, suggesting room for operational execution to support leasing stability. Median contract rents in the neighborhood sit in the upper half nationally, with five‑year gains, per WDSuite’s CRE market data; this positioning can sustain revenue while maintaining a manageable rent-to-income ratio.
Within a 3-mile radius, demographics show a modest population decline over the last five years alongside a small increase in household counts and a drop in average household size. That mix typically points to a steady or expanding renter pool relative to population, supporting multifamily demand even as household composition shifts. Forecasts indicate additional household growth and rising median incomes, which can aid retention and reduce leasing volatility for well-managed assets.
Home values in the neighborhood are moderate for Texas and, when paired with a low rent-to-income ratio locally, suggest households have capacity to absorb measured rent growth without outsized affordability pressure. For investors, this supports lease retention and disciplined pricing power rather than aggressive escalations.
Safety context
Relative to the Odessa metro, the neighborhood’s crime rank is 9th out of 39. Because a lower rank number indicates higher crime within this metro comparison, investors should underwrite prudent security and common-area controls. Nationally, overall crime sits around the mid-range (55th percentile for safety versus neighborhoods nationwide), with violent incidents comparatively weaker (28th percentile).
Trend data are constructive: estimated violent offenses declined sharply year over year (a top-quartile improvement nationally), and property offenses also trended down. These directional improvements can support leasing and retention when paired with on-site management practices.
Investment thesis
This 24‑unit asset benefits from a neighborhood renter concentration above the metro median and occupancy near 90%, positioning it for steady absorption with hands‑on operations. According to WDSuite’s commercial real estate analysis, local rents are in the upper half nationally with multi‑year gains, while a low rent‑to‑income ratio indicates limited affordability pressure and supports lease retention.
Within a 3‑mile radius, household counts have risen despite a modest population decline, and forecasts point to additional household growth alongside rising incomes — dynamics that typically expand the tenant base and support occupancy stability. Amenity access favors groceries and dining, aligning with workforce demand, while investors should account for an occupancy rank below the metro median and mixed safety comparisons when setting operating budgets and resident policies.
- Above-median renter concentration and near-90% neighborhood occupancy support stable leasing
- Rents positioned in the national upper half with room for measured growth relative to incomes
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Compact average unit size (~585 sf) suits cost-conscious renters and operational efficiency
- Risks: occupancy ranks below metro median; safety metrics are mixed; limited parks/pharmacy access