2-Unit
For Sale
$400,000
3001 Beechwood, Odessa, TX 79762
The two-residence configuration allows for occupancy in one unit while the other is rented.
Property Size2,496 SF
Price / SF$160.26
Days on Market106
Property Features for 3001 Beechwood
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi Family Home
Lease Term
12 Months
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,890
Building Details
Building Size
2,496 SF
Year Built
1976
Stories
2
Listing Agency:
Home Charm Realty, LLC
(432) 614-1813
Listed By:
Melody Villasana · License #0536819
(432) 559-7703
Source:
Gloriarealestate
Added: Jul 16
Changed: Oct 25
Last Checked: Oct 26 at 4:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Home Charm Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1976, this duplex contains two units within 2,496 square feet. The layout supports living in one residence while renting the other, or holding both units as a residential income property.
The property is located at 3001 Beechwood in Odessa, Texas.
The property is located at 3001 Beechwood in Odessa, Texas.
Key Highlights
- Two residential units
- 2,496 square feet
- Built in 1976
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,544
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,880
$450.9K
Cap Rate 7%
$322,057
$322.1K
Cap Rate 9%
$250,489
$250.5K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$34.4K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$32.2K $12.90/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.5K $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 Rate 5%
$450,880
Cap Rate 7%
$322,057
Cap Rate 9%
$250,489
Alternative Uses
Best Use
Multifamily LT 5
$322.1K
$281.8K – $375.7K
NOI $22,544 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,242 @ 7.0% cap · market cap 5.06%
Theoretical Best
Flex RnD
$3.63M
$3.18M – $4.23M
NOI $254,004 @ 7.0% cap · market cap 63.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
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Business Placement
Demographics for 79762, TX
40,253
Population
17,259
Households
2.3
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
30.5 sq mi
ZIP Area
1,320
Density / Sq Mi
$74,560
Median Household Income
$45,151
Median Earnings
$1,338
Median Rent
$218,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The two-residence configuration allows for occupancy in one unit while the other is rented.
Where is this duplex located?
The property is located at 3001 Beechwood Odessa, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two residential units; 2,496 square feet; Built in 1976
