| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 37th | Fair |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4010 Tanglewood Ln, Odessa, TX, 79762, US |
| Region / Metro | Odessa |
| Year of Construction | 1972 |
| Units | 28 |
| Transaction Date | 2007-11-08 |
| Transaction Price | $700,000 |
| Buyer | COVI LP LLP |
| Seller | DAVIS EDGAR |
4010 Tanglewood Ln, Odessa TX Multifamily Investment
Neighborhood data points to durable renter demand supported by a high-cost ownership market and manageable rent-to-income levels, according to WDSuite’s CRE market data.
Located in Odessa’s inner-suburban fabric, the property benefits from everyday conveniences: grocery and pharmacy access rank competitive among 39 metro neighborhoods and compare favorably to national norms, while restaurant density sits in the upper tier locally. Parks, cafes, and childcare are sparser, which may limit some lifestyle appeal but does not typically constrain workforce housing demand.
Neighborhood occupancy is in the high-80s with a five-year uptick, but performance sits below the metro median, signaling room for operational focus on leasing and retention. About 30% of occupied housing units in the neighborhood are renter-occupied, indicating a meaningful tenant base for multifamily operators without excessive exposure to rental turnover.
Ownership costs are elevated versus local incomes (top tier within the Odessa metro and above national averages), which tends to sustain reliance on rental housing and support pricing power over time. At the same time, the neighborhood’s rent-to-income ratio sits well below national pressure points, a combination that can aid lease renewal and reduce collection risk from an investor perspective.
Within a 3-mile radius, recent population trends have been soft, yet households held roughly flat and projections indicate growth in both households and incomes by 2028, with smaller average household sizes. This points to a gradual renter pool expansion that can underpin occupancy stability and absorption over a medium-term horizon, based on CRE market data from WDSuite.
Vintage matters: much of the area’s housing stock dates to the 1970s, and the subject’s 1972 construction is slightly older than the neighborhood average (1974). That profile often pairs with value-add potential through unit renovations and system upgrades, balanced by prudent capital planning for aging components.
Safety indicators are mixed. Within the Odessa metro, the neighborhood’s crime ranking places it on the higher side of reported incidents among 39 neighborhoods. Nationally, property-related offenses sit near the middle of the pack, while violent-offense metrics trend below the national median. Importantly, year-over-year estimates show meaningful declines in both violent and property offenses, suggesting recent improvement rather than deterioration.
For risk assessment, investors should frame safety as a management and asset strategy consideration: monitoring ongoing trends, strengthening on-site lighting and access controls, and aligning tenant screening and community engagement to support retention and stabilize operations.
Major employers with verified distances were not available in WDSuite for this address at the time of publication; investors should consider commute patterns and access to Odessa’s regional employment corridors when underwriting demand.
4010 Tanglewood Ln offers a classic, small-scale multifamily profile in an inner-suburban Odessa location with strong daily conveniences and a renter base supported by a high-cost ownership market. Neighborhood rents appear manageable relative to incomes, which can aid renewal and collections while leaving headroom for measured rent growth. According to CRE market data from WDSuite, occupancy has trended upward over five years but remains below the metro median, pointing to operational upside through targeted leasing, amenity tuning, and unit upgrades.
Built in 1972, the asset is slightly older than nearby stock, creating potential for value-add through interior renovations and building systems work. Within a 3-mile radius, projections indicate rising households and higher incomes alongside smaller household sizes by 2028—conditions that typically expand the renter pool and support absorption. Key watch items include school quality, pockets of higher crime relative to the metro, and limited park/cafe inventory, which should be reflected in underwriting and business-plan assumptions.
- Elevated ownership costs locally reinforce rental demand and support pricing power
- Rent-to-income levels suggest retention and collections advantages
- 1972 vintage provides value-add and systems-upgrade potential
- 3-mile projections indicate more households and higher incomes by 2028, aiding demand
- Risks: below-metro occupancy, lower school ratings, mixed safety, and thinner park/cafe amenities