Renovated Duplex with Two
3023 Beechwood, Odessa, TX 79761
For Sale
$429,000
Residential Income, Odessa, TX
Property Size2,496 SF
Lot Size0.60 Acres
Price / SF$171.88
Days on Market50
Property Features for 3023 Beechwood
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Fireplace
Appliances
Subdivision
Elementary school
Middle school
High school
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Roof type
Listing Agency:
Keller Williams Realty - Midland & Odessa
(432) 520-5151
Listed By:
Ramon Gomez · License TX #0738885
(806) 891-7718
Added: Sep 22
Changed: Oct 26
Last Checked: Nov 10 at 7:06PM
MLS# 177720
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.
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Investment Insights
Based on property information with market context.
This duplex contains two separate units, each measuring 1,248 square feet with three bedrooms and two bathrooms. The interiors have been renovated with updated finishes, while central air, central natural-gas heating, free-standing electric ranges, microwaves, and individual water heaters serve the property. Carpet flooring, composition roofing, public water, and public sewer are also in place.
The property sits on a 0.603-acre parcel at 3023 Beechwood in Odessa, Texas, within ZIP Code 79761. A carport provides on-site covered parking, and the building includes a fireplace. Constructed in 1976, the duplex offers a two-unit residential income configuration with a combined 2,496 square feet.
The property sits on a 0.603-acre parcel at 3023 Beechwood in Odessa, Texas, within ZIP Code 79761. A carport provides on-site covered parking, and the building includes a fireplace. Constructed in 1976, the duplex offers a two-unit residential income configuration with a combined 2,496 square feet.
Key Highlights
- Two‑unit duplex with 2,496 square feet of total building area
- Each unit includes 1,248 square feet, 3 bedrooms, and 2 bathrooms
- Renovated interiors with updated finishes
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
Office A
$634.4K
$555.1K – $740.1K
NOI $44,408 @ 7.0% cap · market cap 10.35%
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 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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units provide three-bedroom, two-bath layouts with central heating and cooling.
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‑unit duplex with 2,496 square feet of total building area; Each unit includes 1,248 square feet, 3 bedrooms, and 2 bathrooms; Renovated interiors with updated finishes
