Single-Family Home on Quarter-Acre
For Sale
$300,000
2604 W Kansas Ave, Midland, TX 79701
SINGLE_FAMILY - Midland, TX
Property Size1,288 SF
Lot Size0.25 Acres
Price / SF$232.92
Days on Market52
Property Features for 2604 W Kansas Ave
General Information
Property type
Residential
Property subtype
Retail
Standard status
Active
Size
1,288 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
Premier office leasing opportunity featuring a reception area, 3 offices, breakroom, storage room, and excellent visibility in a high-traffic location
Tax Annual Amount
1
Legal Description
Premier office leasing opportunity featuring a reception area, 3 offices, breakroom, storage room, and excellent visibility in a high-traffic location
Building Details
Year built
1965
Listing Agency:
Moriah Real Estate Company, LLC
(432) 682-2510
Listed By:
Wes Gotcher
(432) 853-9783
Added: Jun 19
Last Checked: Aug 9 at 7:06PM
MLS# 50096096
Copyright © 2026 Permian Basin 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.
Investment Insights
Based on property information with market context.
This single-family home is offered for sale at 2604 W Kansas Ave in Midland, Texas 79701. The property sits on a 0.25-acre lot and provides 1,288 square feet of living area, according to the provided listing information.
As a residential income and single-family property type, it may be of interest to buyers seeking a straightforward home purchase within Midland’s residential market. The listing is categorized as for sale and reflects the property’s stated size and lot dimensions.
As a residential income and single-family property type, it may be of interest to buyers seeking a straightforward home purchase within Midland’s residential market. The listing is categorized as for sale and reflects the property’s stated size and lot dimensions.
Key Highlights
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,730
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$214,600
$214.6K
Cap Rate 7%
$153,286
$153.3K
Cap Rate 9%
$119,222
$119.2K
Market Conditions
NOI Build-Up for 1,288 SF
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.
Gross rent
$20.9K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$19.5K $15.15/SF
− OpEx
−$8.8K −$6.82/SF
NOI
$10.7K $8.33/SF
Area
Midland, TX
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$214,600
Cap Rate 7%
$153,286
Cap Rate 9%
$119,222
Alternative Uses
Best Use
Apartment 5plus
$153.3K
$134.1K – $178.8K
NOI $10,730 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$303.8K
$265.8K – $354.5K
NOI $21,267 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 79701, TX
29,748
Population
11,393
Households
2.6
Avg Household Size
33
Median Age
19%
College-Educated
73%
High-School Grad
12.1 sq mi
ZIP Area
2,459
Density / Sq Mi
$57,679
Median Household Income
$36,213
Median Earnings
$1,336
Median Rent
$204,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Single-family residence for sale in Midland, Texas, located at 2604 W Kansas Ave.
Where is this single family property located?
The property is located at 2604 W Kansas Ave Midland, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Built in 1965
