Two-Unit
New
For Sale
$305,000
4303 W Dengar Ave, Midland, TX 79707
Residential Income, Midland, TX
Property Size2,058 SF
Lot Size0.19 Acres
Price / SF$148.20
Days on Market4
Property Features for 4303 W Dengar Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Exterior features
Fence-Wood
Fencing
Fenced
Subdivision
Wedgewood Park
Elementary school
Rusk
Middle school
Alamo
High school
Legacy
Elementary school district
Midland
Middle school district
Midland
High school district
Midland
Standard status
Active
Size
2,058 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
Acres: 0.191, Subd: WEDGEWOOD PARK, BLK: 026, LOTS: 3(-S9.5) & 4(S9), ADDN: WEDGEWOOD PARK, SEC 4
Tax Annual Amount
1943
Legal Description
Acres: 0.191, Subd: WEDGEWOOD PARK, BLK: 026, LOTS: 3(-S9.5) & 4(S9), ADDN: WEDGEWOOD PARK, SEC 4
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
2
Roof type
Composition
Listing Agency:
Keller Williams · Keller Williams Realty
(432) 520-5151
Listed By:
Rebecca Alaniz
(325) 450-9071
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 29 at 7:06PM
MLS# 50097827
Copyright © 2026 Permian Basin 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 duplex contains 2,058 square feet across two residential units, with each unit offering two bedrooms, one bathroom, and approximately 1,029 square feet of living area. The layouts provide separate bedroom, bathroom, and shared living accommodations within a 1965-built property.
The 0.191-acre site is enclosed with wood fencing and served by public water and public sewer. Building systems include central electric heating and central air conditioning, while the roof is composition shingle. The property is located at 4303 W Dengar Ave in Midland, Texas 79707.
The 0.191-acre site is enclosed with wood fencing and served by public water and public sewer. Building systems include central electric heating and central air conditioning, while the roof is composition shingle. The property is located at 4303 W Dengar Ave in Midland, Texas 79707.
Key Highlights
- Two units totaling 2,058 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Approximately 1,029 square feet per unit
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
$18,389
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
6.03%
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%
$367,780
$367.8K
Cap Rate 7%
$262,700
$262.7K
Cap Rate 9%
$204,322
$204.3K
Market Conditions
NOI Build-Up for 2,058 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
$28.4K $13.80/SF
− Vacancy
−$2.1K −$1.04/SF
EGI
$26.3K $12.77/SF
− OpEx
−$7.9K −$3.83/SF
NOI
$18.4K $8.94/SF
Area
Midland, TX
Vacancy
7.50%
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%
$367,780
Cap Rate 7%
$262,700
Cap Rate 9%
$204,322
Alternative Uses
Best Use
Multifamily LT 5
$262.7K
$229.9K – $306.5K
NOI $18,389 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$244.9K
$214.3K – $285.8K
NOI $17,145 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 79707, TX
37,632
Population
16,654
Households
2.3
Avg Household Size
35
Median Age
41%
College-Educated
91%
High-School Grad
71.0 sq mi
ZIP Area
530
Density / Sq Mi
$99,979
Median Household Income
$58,351
Median Earnings
$1,383
Median Rent
$382,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers a two-bedroom, one-bath layout with central heating and cooling.
Where is this duplex located?
The property is located at 4303 W Dengar Ave Midland, TX.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Two units totaling 2,058 square feet; Each unit includes 2 bedrooms and 1 bathroom; Approximately 1,029 square feet per unit
