| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 54th | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4300 Esmond Dr, Odessa, TX, 79762, US |
| Region / Metro | Odessa |
| Year of Construction | 1981 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4300 Esmond Dr, Odessa TX — Workforce Multifamily With Value-Add Upside
Neighborhood renter demand is supported by strong amenity access and a high share of renter-occupied housing, according to WDSuite’s CRE market data, while submarket occupancy trends suggest disciplined leasing and renewal management will matter.
Located in an inner-suburb pocket of Odessa, the neighborhood posts an A+ rating and ranks 1 out of 39 metro neighborhoods overall, indicating broad strengths relative to the local market. Amenity access is a notable differentiator: restaurants, cafes, groceries, parks, and pharmacies all score in the upper national percentiles, with cafes and groceries in the top quartile nationally — a practical advantage for resident convenience and leasing appeal.
The neighborhood’s renter concentration is elevated, with a majority of housing units renter-occupied (ranked 5 of 39; top decile nationally). For investors, this points to a deeper tenant base and steady leasing velocity for multifamily product. By contrast, the neighborhood’s occupancy rate is below the Odessa metro median (ranked 34 of 39), signaling the need for attentive leasing strategy and competitive positioning to sustain collections and minimize downtime. These occupancy figures reflect the neighborhood, not the property.
Home values sit near the national midrange with value-to-income metrics in the upper national percentiles, reinforcing renter reliance on multifamily housing without creating outsized affordability pressure. Median contract rents in the neighborhood are also around the national middle, supporting a value-oriented pitch while allowing for measured pricing power where renovations improve unit livability and finishes.
Within a 3-mile radius, recent years show population contraction but relatively stable household counts, with forecasts pointing to renewed population growth and more households by 2028. A trend toward smaller household sizes suggests a gradual expansion of the renter pool, which can support occupancy stability over the medium term. Income levels in the 3-mile area have trended upward, which supports rent collections and reduces turnover sensitivity.
Vintage positioning matters: the property was built in 1981, while the neighborhood’s average construction year skews newer (mid-1990s). That older profile can create value-add potential through targeted capital programs that refresh exteriors, common areas, and in-unit systems to compete more effectively against newer stock.
Safety indicators are mixed but improving. The neighborhood sits around the national middle on composite crime measures, and approximately in the metro middle (ranked 16 of 39 Odessa neighborhoods). Importantly, both violent and property offense rates have declined over the past year, with improvements that outpace many areas nationally. Framing for investors: while security expectations should be set appropriately, recent downtrends can support resident retention when paired with proactive property-level safety measures.
4300 Esmond Dr offers a workforce-oriented, 28-unit opportunity in an A+ rated Odessa neighborhood where amenity density and a high renter share underpin demand. Neighborhood occupancy trends trail the metro, suggesting that hands-on leasing and targeted upgrades will be important to sustain cash flow. The 1981 vintage is older than the neighborhood average, presenting a clear value-add path to elevate competitive standing against mid-1990s and newer stock. According to CRE market data from WDSuite, neighborhood rent and value metrics sit near national midranges, supporting balanced affordability and durable tenant depth.
At the 3-mile radius, household counts are steady and projected to rise alongside income gains, indicating a gradually expanding tenant base and support for occupancy stability. Strong local amenities and a majority renter-occupied housing profile translate into day-to-day convenience and consistent leasing interest, while modernization and operational focus can mitigate submarket occupancy softness.
- A+ neighborhood with top-tier amenity access that supports leasing appeal
- High renter concentration indicates depth of tenant demand for multifamily
- 1981 vintage provides value-add and renovation upside versus newer area stock
- 3-mile outlook points to growing households and income, aiding retention and rent collections
- Risk: neighborhood occupancy is below metro median, requiring strong leasing execution and competitive positioning