Renovated Two-Unit
For Sale
$289,000
3643 N Dixie Blvd, Odessa, TX 79762
Each residence contains two bedrooms and one bathroom.
Property Size1,480 SF
Price / SF$195.27
Days on Market38
Property Features for 3643 N Dixie Blvd
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Multi Family Home
Lease Term
12 Months
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,190
Building Details
Building Size
1,480 SF
Year Built
1952
Stories
1
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
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Investment Insights
Based on property information with market context.
Renovated duplex in Odessa with two residences, each offering two bedrooms and one bathroom. The interiors have been updated, and the units measure approximately 800 square feet and 680 square feet, respectively.
Built in 1952, the property is at 3643 N Dixie Blvd, with access to major roads and amenities.
Built in 1952, the property is at 3643 N Dixie Blvd, with access to major roads and amenities.
Key Highlights
- Two residences, each with two bedrooms and one bathroom
- Approximate unit sizes of 800 square feet and 680 square feet
- Built in 1952
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,368
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$267,360
$267.4K
Cap Rate 7%
$190,971
$191.0K
Cap Rate 9%
$148,533
$148.5K
Market Conditions
NOI Build-Up for 1,480 SF
Gross rent
$20.4K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$19.1K $12.90/SF
− OpEx
−$5.7K −$3.87/SF
NOI
$13.4K $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%
$267,360
Cap Rate 7%
$190,971
Cap Rate 9%
$148,533
Alternative Uses
Best Use
Multifamily LT 5
$191.0K
$167.1K – $222.8K
NOI $13,368 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$171.5K
$150.0K – $200.1K
NOI $12,003 @ 7.0% cap · market cap 4.15%
Theoretical Best
Flex RnD
$2.15M
$1.88M – $2.51M
NOI $150,611 @ 7.0% cap · market cap 52.11%
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
281
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 - Each residence contains two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 3643 N Dixie Blvd Odessa, TX.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two residences, each with two bedrooms and one bathroom; Approximate unit sizes of 800 square feet and 680 square feet; Built in 1952
