| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 37th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5025 N Dixie Blvd, Odessa, TX, 79762, US |
| Region / Metro | Odessa |
| Year of Construction | 1974 |
| Units | 31 |
| Transaction Date | 2012-03-16 |
| Transaction Price | $1,700,000 |
| Buyer | INCENTIVIZE ENTERPRISES LLC |
| Seller | WOODHAVEN HOLDINGS LLC |
5025 N Dixie Blvd Odessa Multifamily Value-Add
Neighborhood occupancy sits in the low-90s, supporting steadier rent rolls according to WDSuite’s CRE market data, while restaurant access and park density add day-to-day appeal for renters. Renter concentration is moderate at the neighborhood level, pointing to a defined but competitive tenant base.
This Inner Suburb pocket of Odessa balances everyday convenience with practical multifamily fundamentals. Restaurant density ranks competitively among Odessa neighborhoods (12th of 39), and park access is a relative strength, landing in the top quartile nationally. By contrast, grocery, pharmacy, and cafe density are limited locally, so residents likely rely on short drives for essentials.
Neighborhood occupancy is around 91%, near the metro middle, which supports baseline leasing stability. Median asking rents in the neighborhood are near the low-$1,000s, per commercial real estate analysis from WDSuite, and the rent-to-income profile aligns with manageable payment burdens that can aid lease retention.
Tenure patterns indicate about 31% of housing units are renter-occupied in the immediate neighborhood, with roughly 37% renter share within a 3-mile radius. For investors, this suggests a defined renter pool with some turnover sensitivity but sufficient depth to support a 31-unit asset when pricing is positioned thoughtfully.
Within a 3-mile radius, recent years show modest population and household softening, but forward-looking projections point to population growth and a notable increase in household counts alongside smaller average household sizes. That combination typically expands the renter pool over time and can support occupancy stability if units are maintained and appropriately amenitized.
Home values in this part of Ector County sit well below many national markets, which makes ownership more accessible. For multifamily owners, that dynamic can introduce competition with entry-level ownership; however, it also positions well-maintained, reasonably priced rentals to capture residents seeking flexibility, faster move-ins, or reduced upfront costs.
Safety indicators for the neighborhood track below national norms, and conditions are weaker than many Odessa neighborhoods. Nationally benchmarked data places the area below the midpoint for both violent and property offenses, though recent trends show an improvement in violent incidents. For investors, underwriting should reflect conservative assumptions for security, lighting, and common-area management to support resident satisfaction and retention.
The property’s 1974 vintage points to potential value-add through targeted renovations and systems upgrades, which can improve competitiveness against older local stock. Neighborhood occupancy near the metro middle and moderate renter concentration indicate a stable base of demand, while park access and everyday services within a short drive help day-to-day livability for residents.
Within a 3-mile radius, projections show population growth and a meaningful increase in household counts with smaller household sizes, a setup that typically expands the tenant base and supports leasing. According to CRE market data from WDSuite, neighborhood rents align with incomes in a way that can support retention, though ownership remains relatively accessible and should be considered in pricing and amenity strategy.
- 1974 vintage offers clear renovation and operational upside for value-add execution.
- Neighborhood occupancy near metro norms supports baseline stability and consistent leasing.
- 3-mile outlook indicates population growth and more, smaller households, expanding the renter pool.
- Rent levels aligned with incomes can aid retention when paired with disciplined expense control.
- Risks: below-average safety metrics, limited walkable essentials, and competition from accessible ownership.