| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 58th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4641 Oakwood Dr, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1978 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4641 Oakwood Dr Odessa Multifamily Investment
Neighborhood occupancy is about 96% with renter demand supported by an above-median renter concentration, according to WDSuite s CRE market data. Stable tenancy and manageable rent levels position this asset for durable cash flow in an Inner Suburb location.
The property sits in an Inner Suburb neighborhood rated A and ranked 4 out of 39 within the Odessa metro, placing it in the top quartile locally. Neighborhood occupancy is high (around 96%), which is above national norms and supportive of income stability for multifamily assets.
Renter-occupied housing comprises roughly 69% of units in this neighborhood, indicating a sizable tenant base and depth for leasing. Median contract rents sit near the $1,000 level with a rent-to-income ratio around 0.17, suggesting relatively moderate affordability pressure that can aid lease retention.
Amenity density is mixed: restaurants are present at moderate levels, while grocery and pharmacy access are relatively solid compared to other Odessa submarkets; parks and cafes are limited. These dynamics can favor properties that offer on-site conveniences or value-add enhancements to resident experience.
Built in 1978, the asset is slightly older than the neighborhood s average 1984 construction year. Investors should underwrite routine capital planning and consider value-add improvements to maintain competitiveness against newer stock while leveraging smaller, efficiency-oriented layouts (average unit size approximately 349 sq. ft.).
Within a 3-mile radius, recent data show a small population decline over the last five years alongside an increase in household count and a trend toward smaller household sizes. Forward-looking estimates point to growth in households and incomes, supporting a larger tenant base and reinforcing occupancy stability for well-positioned multifamily properties, based on CRE market data from WDSuite.
Neighborhood safety metrics are competitive among Odessa neighborhoods but sit below the national midpoint overall. The area s crime rank is 18 out of 39 metro neighborhoods, and national comparisons place it around the mid-range, according to WDSuite. Year-over-year trends show improvement, with both violent and property offense rates decreasing, which is a constructive directional signal for long-term operations.
Investors should evaluate property-level security, lighting, and design features relative to peer assets, and monitor ongoing trendlines rather than single-period readings. The key takeaway is gradual improvement within a context that remains comparable to many workforce-oriented submarkets nationally.
This 84-unit property offers exposure to a neighborhood with high occupancy, an A rating, and a renter-occupied share near 69%—all supportive of steady leasing. Elevated ownership costs relative to incomes in the neighborhood context, together with a rent-to-income ratio around 0.17, suggest balanced pricing power and potential for durable collections without overextending residents, according to commercial real estate analysis from WDSuite.
The 1978 vintage implies routine capital planning and potential value-add upside to align finishes and systems with current renter expectations. Within a 3-mile radius, an increase in households and smaller household sizes point to a growing renter pool over the medium term, which supports occupancy stability even as amenity density remains mixed. Neighborhood NOI per unit trends sit below national norms, so underwriting should emphasize operational efficiency and targeted upgrades to drive returns.
- High neighborhood occupancy and top-quartile local ranking support income stability
- Strong renter base with sizable renter-occupied share underpins leasing depth
- 1978 vintage offers value-add potential with prudent capex planning
- Household growth within 3 miles indicates a larger tenant pool over time
- Risk: amenity density is uneven and neighborhood NOI per unit trends are thin versus national norms