Multifamily Property with
New
For Sale
$999,900
2517-27 Roper St, Odessa, TX 79761
Residential Income, Odessa, TX
Property Size8,167 SF
Lot Size1.05 Acres
Price / SF$122.43
Days on Market4
Property Features for 2517-27 Roper St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
16
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 14, Bedroom 11, Bedroom 15, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 13, Bedroom 8, Bedroom 7, Bedroom 12, Bedroom 1, Bedroom 16, Bedroom 6, Bedroom 3, Bedroom 10, Bedroom 4, Bedroom 9
Patio and Porch features
Patio
Appliances
Individual Water Heaters
Subdivision
Crescent Park
Elementary school
Dowling
Middle school
Bonham
High school
Permian
Standard status
Active
APN
07000.05165.0000 & 07000.05168.00000
Size
8,167 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Annual Amount
11736
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Flooring type
Carpet
Building materials
Brick Veneer
Roof type
Composition
Listing Agency:
Pinnacle Realty Advisors
(972) 338-5441
Listed By:
Hayden Burnett · License #0719267
(432) 553-5260
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 11 at 6:06AM
MLS# 177401
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.
Investment Insights
Based on property information with market context.
This east Odessa multifamily property comprises 4 duplex units offered as a package, with 8,167 square feet of property size on 1.045 acres. The unit mix includes two-bedroom, one-bath layouts facing Roper Street, plus a three-bedroom, two-bath unit and a one-bedroom, one-bath efficiency unit in the alley-facing buildings. Patios serve the property, and individual water heaters are provided.
Built in 1958, the improvements feature brick veneer construction, composition roofing, carpet flooring, central air conditioning, and heating systems that include electric, central, and natural gas components. The property is connected to public water and public sewer. Showings require 24 hours' notice to coordinate with tenants.
Built in 1958, the improvements feature brick veneer construction, composition roofing, carpet flooring, central air conditioning, and heating systems that include electric, central, and natural gas components. The property is connected to public water and public sewer. Showings require 24 hours' notice to coordinate with tenants.
Key Highlights
- 4 duplex units offered as one package
- 8,167 square feet on 1.045 acres
- Unit mix includes 2‑bedroom/1‑bath, 3‑bedroom/2‑bath, and 1‑bedroom/1‑bath efficiency layouts
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
$73,765
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
7.38%
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%
$1,475,300
$1.5M
Cap Rate 7%
$1,053,786
$1.1M
Cap Rate 9%
$819,611
$819.6K
Market Conditions
NOI Build-Up for 8,167 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
$112.7K $13.80/SF
− Vacancy
−$7.3K −$0.90/SF
EGI
$105.4K $12.90/SF
− OpEx
−$31.6K −$3.87/SF
NOI
$73.8K $9.03/SF
Area
Odessa, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,475,300
Cap Rate 7%
$1,053,786
Cap Rate 9%
$819,611
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.1K – $1.23M
NOI $73,765 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$946.2K
$827.9K – $1.10M
NOI $66,234 @ 7.0% cap · market cap 6.62%
Theoretical Best
Flex RnD
$11.87M
$10.39M – $13.85M
NOI $831,109 @ 7.0% cap · market cap 83.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - East Odessa multifamily package with varied unit layouts, central cooling, individual water heaters, and public utilities.
Where is this multifamily property located?
The property is located at 2517-27 Roper St Odessa, TX.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 4 duplex units offered as one package; 8,167 square feet on 1.045 acres; Unit mix includes 2‑bedroom/1‑bath, 3‑bedroom/2‑bath, and 1‑bedroom/1‑bath efficiency layouts
