| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 27th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2550 W 8th St, Odessa, TX, 79763, US |
| Region / Metro | Odessa |
| Year of Construction | 1972 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2550 W 8th St Odessa Multifamily Investment
Neighborhood occupancy trends hover around 90% with a renter-occupied share near 41%, supporting a stable tenant base, according to WDSuite’s CRE market data. Pricing sits below many national metros, which can aid retention while leaving room for value-add repositioning.
Located in an Inner Suburb of Odessa, the neighborhood rates C+ and is competitive among Odessa neighborhoods (ranked 26 of 39). Occupancy in the neighborhood is near 90%, easing versus five years ago, which suggests steady but selectable tenant demand rather than tight conditions. The renter-occupied share is about 41%, indicating a meaningful renter pool for multifamily operators.
Everyday amenities are serviceable rather than destination-driven. Grocery access ranks 12 of 39 (competitive locally) and parks rank 10 of 39, with park access in the top quartile nationally (78th percentile), while restaurant density sits close to metro norms. Cafés and pharmacies are sparse in this immediate area, so residents likely rely on broader Odessa for certain conveniences. These conditions typically point to workforce housing dynamics rather than luxury-driven demand.
At the 3-mile radius, demographic statistics show the population has contracted over the last cycle while household counts have inched higher and average household size has declined. For investors, this combination often means a larger number of smaller households, which can support multifamily demand and occupancy stability, particularly for well-managed, functional units.
The property’s vintage is 1972 versus a neighborhood average near 1981. Older stock can require capital for systems, interiors, and curb appeal—yet it can also present renovation upside and repositioning opportunities relative to newer competitive sets. Neighborhood median home values trend on the lower side nationally, which can create some competition from ownership options; however, rent-to-income metrics around the mid-20% range suggest manageable affordability pressure that can support lease retention and measured pricing power.
Safety conditions are mixed compared with both the Odessa metro and national benchmarks. The neighborhood’s crime rank is 20 out of 39 Odessa neighborhoods, placing it around the metro median. Nationally, the area sits below the mid-range for safety (43rd percentile), but recent trends show improvement: estimated violent offense and property offense rates have both declined year over year. For investors, this trajectory is constructive for resident retention and leasing narratives, while still warranting standard property-level security measures and lighting.
Employer proximity data with reliable distances was not available from WDSuite for this address at the time of publication. Investors typically assess commute access to Odessa’s major healthcare, education, logistics, and energy-related employment nodes to gauge workforce housing demand and lease stability.
2550 W 8th St offers an attainable, workforce-oriented location with neighborhood occupancy near 90% and a renter base close to 41%, supporting demand depth for stabilized multifamily. The 1972 vintage suggests potential value-add via targeted capex, allowing investors to modernize interiors and common areas to compete against 1980s-era comparables. According to CRE market data from WDSuite, local amenities are practical rather than premium, with strong park access and adequate groceries—conditions that align with durable, needs-based renter demand.
Within a 3-mile radius, household counts have edged up while average household size has moved lower, implying more, smaller households even as population trends soften—often supportive of renter pool expansion and occupancy stability for functional unit mixes. Neighborhood home values sit on the lower end nationally, which may introduce some competition from ownership; however, moderate rent-to-income levels suggest manageable affordability pressure and potential for steady renewals under disciplined lease management.
- Workforce renter base and ~90% neighborhood occupancy support day-one demand stability
- 1972 vintage presents clear value-add and systems/finish upgrade pathways
- Practical amenity context (strong parks, adequate groceries) fits needs-based housing
- 3-mile household growth with smaller household sizes can expand the renter pool
- Risks: softer population trends, neighborhood NOI per-unit levels on the low end nationally, and mid-pack safety warrant conservative underwriting