| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 37th | Fair |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3720 Tanglewood Ln, Odessa, TX, 79762, US |
| Region / Metro | Odessa |
| Year of Construction | 1975 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3720 Tanglewood Ln Odessa TX Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by a high-cost ownership market and manageable rent-to-income levels, according to WDSuite’s CRE market data. Investors should view this location as a pragmatic, income-focused hold where local occupancy has been resilient at the neighborhood level.
Located in an Inner Suburb of Odessa, the property benefits from everyday convenience: grocery and pharmacy density rank near the top among 39 metro neighborhoods while restaurants are strong by metro standards and sit in the top quartile nationally. Cafes, parks, and childcare options are limited in the immediate neighborhood, which may affect lifestyle appeal for some renter segments but does not preclude workforce-oriented demand.
Neighborhood occupancy is reported at the neighborhood level (not the property) and has been stable, with the area positioned above the metro median over the last five years based on commercial real estate analysis from WDSuite. The share of housing units that are renter-occupied in the 3-mile radius is substantial, supporting a deeper tenant base for a 65-unit community.
Within a 3-mile radius, demographics indicate a modest contraction in population alongside a small increase in households, implying smaller household sizes and a renter pool that is increasingly oriented toward multifamily options. Looking ahead, WDSuite’s CRE market data indicates households are projected to increase, which would expand the local tenant base and support occupancy stability.
Elevated ownership costs in the neighborhood relative to local incomes (high value-to-income standing in the metro and above-average national percentile) reinforce reliance on rental housing, while neighborhood rents benchmark at a rent-to-income level that suggests manageable affordability pressure. School ratings in the neighborhood are below metro average, which may narrow appeal for family renters; however, proximity to daily-needs retail can aid retention for workforce households.
Safety indicators are mixed. The neighborhood’s crime rank sits closer to the higher-crime end within the Odessa metro (ranked near the bottom relative to 39 neighborhoods), yet its national standing is modestly favorable, with overall safety positioned slightly above the national midpoint. Recent trend data from WDSuite shows double-digit declines in both violent and property offense estimates year over year, a constructive trajectory investors should monitor rather than assume will persist.
The investment case centers on steady neighborhood occupancy, a sizeable renter-occupied share within a 3-mile radius, and everyday-needs retail that supports retention. Elevated home values relative to income sustain reliance on rental housing, while rent burdens benchmark at levels that typically allow for disciplined rent management rather than outsized concessions, based on CRE market data from WDSuite.
Key considerations include below-average school ratings and limited park/cafe inventory, which may temper appeal for some cohorts, and metro-relative safety that warrants ongoing monitoring despite improving trends. Overall, the location aligns with income-focused multifamily strategies seeking durable tenancy in Odessa’s Inner Suburb context.
- Neighborhood occupancy stability supports cash flow resilience at the submarket level
- 3-mile renter-occupied share indicates depth of tenant base for a 65-unit asset
- Elevated ownership costs reinforce rental housing demand and lease retention
- Daily-needs retail (groceries/pharmacies) supports convenience-driven retention
- Risks: below-average school ratings, limited parks/cafes, and metro-relative safety that requires monitoring