| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 27th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3250 W 8th St, Odessa, TX, 79763, US |
| Region / Metro | Odessa |
| Year of Construction | 2011 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3250 W 8th St Odessa 112-Unit Multifamily Investment
Neighborhood renter demand is meaningful and occupancy trends reflect broader submarket dynamics, according to WDSuite’s CRE market data, offering investors a stable working-class tenant base near core Odessa services.
The property sits in an Inner Suburb of Odessa where amenities are competitive among Odessa neighborhoods (ranked 14 out of 39 locally) but mixed versus the nation. Grocery access compares favorably within the metro and sits above the national median, while parks coverage trends in the top quartile nationally. Restaurant density is around national mid-levels, but cafes and pharmacies are limited in the immediate area—an operating consideration for resident convenience.
Multifamily fundamentals are balanced at the neighborhood scale. Neighborhood occupancy is near national mid-levels, and the share of housing units that are renter-occupied is high for the nation (81st percentile), indicating a deeper tenant base and potential leasing resiliency. Median contract rents at the neighborhood level track close to national midpoints, suggesting room for operational differentiation through asset quality, management, and finishes.
Demographic statistics aggregated within a 3-mile radius show a modest population decline over the past five years alongside growth in household counts. This combination points to smaller household sizes and a steady pipeline of renters, which can support occupancy stability even as the broader population softens. Household incomes have risen over the period, helping offset rent growth and supporting collections and retention.
The asset’s 2011 construction is newer than much of the local stock (neighborhood average vintage is 1981). This positioning typically improves competitive standing against older properties while still warranting prudent capital planning for mid-life systems and selective unit upgrades to capture rent premiums.
Safety indicators are mixed relative to peers. Within the Odessa metro, the neighborhood’s crime rank sits in the lower half (20 of 39), while national comparisons place overall safety modestly below the midpoint. Recent trend data is constructive: estimated violent and property offense rates have moved lower year over year, signaling incremental improvement. Investors should underwrite with conservative assumptions but note the directional gains.
Built in 2011 with 112 units, the asset offers scale and a newer vintage versus nearby stock, supporting competitive positioning and potential for targeted value-enhancements. The neighborhood exhibits a high renter concentration and occupancy near national mid-levels, and 3-mile trends show households increasing even as population eases—favorable for sustaining a larger tenant base and lease-up/renewal stability. According to CRE market data from WDSuite, local rents are around national midpoints, so performance will hinge on operational execution and finish quality rather than relying solely on market lift.
Investor considerations include a working-class profile that supports steady demand, ownership costs that do not materially undercut renting at the neighborhood level, and ongoing safety metrics that are improving but still warrant conservative underwriting. Neighborhood-level NOI per unit trails national norms, and energy- and employment-cycle sensitivity in the Odessa market can introduce volatility—factors to reflect in stress testing and reserves.
- 2011 vintage vs. older local stock supports competitiveness with selective upgrade upside
- High renter-occupied share indicates depth of tenant demand and leasing durability
- 3-mile household growth despite population softening supports occupancy stability
- Neighborhood rents near national midpoints—execution and amenities can drive outperformance
- Risks: below-median safety levels, cyclical local economy, and neighborhood NOI per unit below national norms