2609 Spartan DrMidlandTX79705
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Midland at 2609 Spartan Dr, Midland, TX, 79705 priced at $340,000 converts $3,968/mo rent into $1,550/mo cash flow after a $1,664/mo obligation. Total monthly income equals $3,968/mo, and annual cash flow totals $18,604/yr on $112,710 invested. Return on cash invested prints 36.42% in year one, and rental yield reads 14% against a $340,000 entry. Equity gained on principal adds $2,194/yr, while 5% annual appreciation compiles into $93,936 by year five. Five-year ROI reaches 192.58% and total cumulative return in cash sums $217,062. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,968/mo property income covering a $1,664/mo payment, not borrower’s personal income.
Single Family
Built in 1977
7,971 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79705, Midland, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,134 (100%) |
| Owner Occupied HU | 12,799 (60.6%) |
| Renter Occupied HU | 5,573 (26.4%) |
| Vacant Housing Units | 2,762 (13.1%) |
| Median Home Value | $350,630 |
| Average Home Value | $398,058 |
Housing Distribution
Address Breakdown
Residential
21,890
Single Family
16,635
Multi-Family
5,255
Businesses
1,329
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Listed by: Araceli Reyes • All City Real Estate Ltd. Co.
Mls Name: Odessa BOR
Mls Provider:
Mls ID: #153571
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.