Renovated
For Sale
$429,000
3023 Beechwood, Odessa, TX 79761
Two separate three-bedroom residences provide matching layouts and updated interior finishes.
Property Size2,496 SF
Price / SF$171.88
Days on Market38
Property Features for 3023 Beechwood
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,027
Building Details
Building Size
2,496 SF
Year Built
1976
Buildings
1
Stories
2
Listing Agency:
Keller Williams Realty - Midland & Odessa
(432) 520-5151
Listed By:
Ramon Gomez · License #0738885
(806) 891-7718
Source:
Gloriarealestate
Added: Sep 22
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 Keller Williams Realty - Midland & Odessa
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with three bedrooms, two bathrooms, and 1,248 square feet of living space. Both were renovated with contemporary interior finishes and have functional layouts. The property was built in 1976, with a combined building area of 2,496 square feet.
The property is at 3023 Beechwood in Odessa, near shopping and dining.
The property is at 3023 Beechwood in Odessa, near shopping and dining.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 1,248 square feet of living space per unit
- 2,496 square feet combined building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,544
Cap Rate
5.26%
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 5.26%
Second Best
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,242 @ 7.0% cap · market cap 4.72%
Theoretical Best
Flex RnD
$3.63M
$3.18M – $4.23M
NOI $254,004 @ 7.0% cap · market cap 59.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate three-bedroom residences provide matching layouts and updated interior finishes.
Where is this duplex located?
The property is located at 3023 Beechwood Odessa, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 1,248 square feet of living space per unit; 2,496 square feet combined building area
