| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 58th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4630 Oakwood Dr, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1976 |
| Units | 48 |
| Transaction Date | 2018-05-11 |
| Transaction Price | $10,025,000 |
| Buyer | FGCA PROPERTIES LLC |
| Seller | AIRHART HOLDINGS LLC |
4630 Oakwood Dr, Odessa TX Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive occupancy, according to WDSuite’s CRE market data. For investors, the area’s strong renter concentration and stable leasing backdrop support underwriting focused on cash flow consistency.
Located in an Inner Suburb pocket of Odessa, the neighborhood is rated A and ranks 4th among 39 metro neighborhoods, indicating competitive positioning in the local market. Occupancy trends are strong and competitive among Odessa neighborhoods (ranked 10 of 39), supporting expectations for steady lease-up and renewal performance rather than outsized volatility.
Renter demand is reinforced by a high share of renter-occupied housing units at the neighborhood level (ranked 1 of 39; high national percentile), suggesting a deep tenant base and favorable conditions for maintaining occupancy. Within a 3-mile radius, households have grown even as population edged down, implying smaller household sizes and a broader number of household formations—factors that typically expand the renter pool and support occupancy stability.
Ownership costs locally are elevated relative to incomes (value-to-income ratio sits in the upper national percentiles), which can sustain reliance on multifamily housing and bolster lease retention. At the same time, rent-to-income metrics are around national mid-range, pointing to manageable affordability pressure and room for disciplined rent strategies without overextending tenants.
Day-to-day amenities are serviceable: grocery and pharmacy access perform above metro medians, while parks, cafes, and childcare options are comparatively limited. For investors, this mix suggests practical livability with some lifestyle amenity gaps that may temper premium positioning but not necessarily everyday convenience. The average neighborhood construction year skews to the early 1980s; the subject property’s 1976 vintage is older, which can present value-add upside through renovations and systems upgrades to enhance competitiveness versus nearby stock.
Safety indicators for the neighborhood sit near the metro midpoint (crime rank 18 out of 39 Odessa neighborhoods) and around the national middle of the pack. Recent year-over-year declines in both violent and property offenses signal improving trends, which can support tenant retention and leasing stability if sustained over time.
Investors should view safety as broadly comparable to many Odessa submarkets, with recent directional improvement but not top-tier placement nationally. Monitoring local enforcement and neighborhood initiatives remains prudent for long-term underwriting assumptions.
Specific nearby anchor-employer distance data is not available in WDSuite for this address at this time; as such, the employer list is omitted to avoid speculation. Investors can consider the broader Odessa employment base and commute patterns when assessing workforce housing demand.
4630 Oakwood Dr is a 48-unit, 1976-vintage asset positioned in an Odessa neighborhood that ranks competitively within the metro and exhibits high renter concentration. Occupancy performance at the neighborhood level is strong relative to many Odessa areas, and, according to CRE market data from WDSuite, this backdrop supports stable leasing and renewal dynamics. Within a 3-mile radius, modest household growth alongside smaller average household sizes points to a larger pool of renting households over time, reinforcing demand for multifamily units.
The asset’s older vintage creates clear value-add pathways: interior updates and targeted system improvements can sharpen competitive positioning against early-1980s stock nearby. With ownership costs comparatively elevated in the area and rent-to-income around mid-range nationally, investors can balance pricing power with retention, targeting durable cash flows rather than aggressive push assumptions.
- Competitive neighborhood standing within Odessa supports occupancy stability.
- High renter-occupied share indicates deep tenant base and steady leasing.
- 1976 vintage provides value-add upside through renovations and system upgrades.
- Elevated ownership costs bolster reliance on rentals, aiding retention and pricing discipline.
- Risks: limited lifestyle amenities (parks/cafes/childcare) and mid-pack safety require conservative assumptions on rent premiums.