2407 W Indiana Ave, Midland, TX 79701
SINGLE_FAMILY - Midland, TX
- Added:
- Jun 5, 2026
- Days on Market:
- 24
- Last Refresh:
- Jun 28 at 4:06 am
Property Features for 2407 W Indiana Ave
General Information
- Property type
- Residential
- Property subtype
- Retail
- Appliances
- Individual AC Units
- Standard status
- Active
- APN
- R000227886
- Size
- 2,049 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3015
Building Details
- Year built
- 1965
- Building materials
- Metal Siding
- Roof type
- Composition, Flat
Listing agent Cynthia Martinez License #TREC 0703055 (432) 978-2110
Listing office Keller Williams Realty - Midland & Odessa 4920 N Midkiff, Midland, TX (432) 520-5151
Listing date Jun 5, 2026
Copyright © 2026 Odessa Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Metal‑sided property built in 1965 with flat and composition roof
- Three rental units on one parcel
- Appliances include individual AC units
- Property has been surveyed and platted
- Owner financing available; buyer to verify zone and restrictions
Overview
The property is located in Midland, Texas, at 2407 W Indiana Ave (79701). Public remarks note convenient access to downtown and the interstate, making it a practical option for investors or owner-operators who want a manageable site in an accessible area.
Because the offering involves multiple rental units, it may fit buyers seeking a small, multi-unit setup for renovation or repositioning. The seller also directs buyers to verify zoning and any applicable restrictions prior to closing or undertaking improvements, which is important given the property’s intended redevelopment planning. Buyer and buyer’s representatives should confirm all intended uses and requirements during due diligence, including any constraints that could affect renovation scope, unit configuration, or operations.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.7k | $15.00 |
| − Vacancy | −$2.2k | −$1.05 |
| EGI | $28.6k | $13.95 |
| − OpEx | −$8.6k | −$4.19 |
| NOI | $20.0k | $9.76 |
Alternative Uses
Current Use by Public Records
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Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.1006516
- Latitude
- 31.9902883
