| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 58th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4800 Oakwood Dr, Odessa, TX, 79761, US |
| Region / Metro | Odessa |
| Year of Construction | 1981 |
| Units | 48 |
| Transaction Date | 2007-06-07 |
| Transaction Price | $204,800 |
| Buyer | CONDOMINIUMS OF OAKWOOD MANOR LLC |
| Seller | TAMANDAN INVESTMENTS LTD LP |
4800 Oakwood Dr Odessa Multifamily Investment
Neighborhood occupancy is near 96%, pointing to stable renter demand and limited downtime for well-operated assets, according to WDSuite’s CRE market data. With rents supported by incomes and a high renter concentration locally, the property’s positioning favors steady leasing over a full cycle.
Located in an Inner Suburb of Odessa, this neighborhood earns an A rating and sits above the metro median on several fundamentals, per WDSuite. Occupancy trends are in the top quartile nationally, which supports durable cash flow assumptions for stabilized multifamily and reduces lease-up risk for turns.
The property’s 1981 vintage is slightly older than the neighborhood’s average construction year (1984). For investors, this points to routine capital planning and potential value-add opportunities through targeted renovations or system upgrades to stay competitive versus newer product.
Renter-occupied share is high in the neighborhood (nearly seven in ten housing units), indicating a deep tenant base and demand resiliency for multifamily. Median rents benchmark reasonably against local incomes, with a rent-to-income ratio around 17%, which can aid retention and limit concession pressure in normal conditions.
Within a 3-mile radius, recent data show a modest population dip but a small increase in household counts alongside smaller average household sizes—factors that can expand the renter pool for larger layouts and support occupancy stability. Forward-looking projections within the same 3-mile radius point to population growth and a notable increase in households over the next five years, reinforcing demand for rental units. Elevated ownership costs relative to incomes at the neighborhood level (higher national percentile for value-to-income) further sustain reliance on multifamily housing and support pricing power when operations are strong.
Safety indicators are mixed. By metro ranking, the neighborhood sits near the middle of Odessa (ranked 18 out of 39), while national percentiles for both violent and property offenses are below the national median, signaling a comparatively tougher profile than many U.S. neighborhoods. That said, WDSuite data show one-year declines in both violent and property offense rates, suggesting recent improvement momentum.
Investors should underwrite prudent security measures and tenant-experience protocols, while recognizing the directional improvement and the area’s stabilization potential relative to broader metro dynamics.
4800 Oakwood Dr offers 48 units with larger-than-typical average unit sizes, aligning with family and long-term renters who value space and tend to exhibit stronger retention. Neighborhood fundamentals are favorable for multifamily: occupancy is top quartile nationally and renter concentration is high, supporting a deep tenant base and steady leasing. According to CRE market data from WDSuite, rent levels track well against local incomes, with a rent-to-income ratio around 17%, which supports occupancy stability and disciplined renewal strategies.
The 1981 vintage implies manageable capital needs alongside clear value-add potential through interior modernization and operational upgrades to compete with newer stock. While amenity density is modest and safety percentiles track below national medians, recent safety trends are improving and the ownership cost landscape continues to sustain renter reliance, supporting long-term fundamentals for well-executed multifamily operations.
- Top-quartile neighborhood occupancy nationally supports stable cash flow and limited downtime
- Large average unit sizes position the asset for family renters and renewal strength
- High renter-occupied share indicates a deep tenant base and demand resiliency
- 1981 vintage offers value-add upside via targeted renovations and systems updates
- Risks: below-national safety percentiles and modest amenity density warrant conservative underwriting and active management