$490,000

5102 Rainbow Rd Unit A & B Midland, TX 79707

Estimated payment $3,154/month

Total Views 6
6 Beds
4 Baths
2,984 Sq Ft
$164 Price per Sq Ft

Highlights

  • Deck
  • Breakfast Area or Nook
  • Brick Veneer
  • Covered patio or porch
  • 2 Car Detached Garage
  • 5-minute walk to Bush Elementary Playground

About This Home

BEAUTIFULLY UPDATED DUPLEX! "A" IS VACANT AND READY FOR A NEW TENANT, SIDE "B" IS CURRENTLY OCCUPIED WITH LONG-TERM TENANT LEASING $2,100/MONTH! BOTH UNITS HAVE UPDATED "HARDWOOD-LOOK" CERAMIC TILE & LVP THRU-OUT (no carpet), GRANITE AND LAMINATE COUNTERS, ALL UPDATED PAINT AND NEW CABINETS, VANITIES. REPLACED ALL APPLIANCES! NEWER HVACS & WATER HEATERS ON BOTH SIDES, ROOF ON ENTIRE PROPERY WAS REPLACED 2024. DESIGNER LOOK THROUGHOUT, NEUTRAL FRESH PAINT AND GREAT SIZED BEDROOMS w/ WALK-IN CLOSETS!EACH UNIT HAS PRIVATE BACKYARD/PATIO SPACE w/DETACHED 1-CAR GARAGE + CARPORT & STORAGE SHED!

Listing Agent

Erica Cross

The Agency Kerri Payne James Real Estate Team Brokerage Email: 4326831000, kerri@TheAgencyKPJ.com License #TREC #0791600 Listed on: 06/25/2025

The Agency Kerri Payne James Real Estate Team

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,211

Year Built

  • Built in 1983

Lot Details

  • 8,799 Sq Ft Lot
  • Wood Fence
  • Landscaped

Parking

  • 2 Car Detached Garage
  • 2 Carport Spaces
  • Alley Access
  • Side or Rear Entrance to Parking
  • Automatic Garage Door Opener

Home Design

  • Duplex
  • Brick Veneer
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 2,984 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Wood Burning Fireplace
  • Living Room with Fireplace
  • Fire and Smoke Detector
  • Washer and Dryer Hookup

Kitchen

  • Breakfast Area or Nook
  • Electric Range
  • Free-Standing Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Walk-In Closet
  • 4 Bathrooms

Outdoor Features

  • Deck
  • Covered patio or porch
  • Shed

Schools

  • Bush Elementary School
  • Abell Middle School
  • Legacy High School

Utilities

  • Central Heating and Cooling System
  • Separate Meters
  • Natural Gas Connected
  • Separate Water Meter
  • Multiple Water Heaters
  • Gas Water Heater

Community Details

  • Arbor Park Subdivision

Listing and Financial Details

  • Assessor Parcel Number R000009597

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,211

Year Built

Built in 1983

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Duplex
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.202
  • Road Frontage Type: Curbs/Gutters
  • Road Surface Type: Paved
  • Subdivision Name: Arbor Park
  • Carport Y N: Yes
  • Garage Yn: Yes
  • Unit Levels: One
  • Year Built: 1983
  • Attribution Contact: 4326831000, kerri@TheAgencyKPJ.com
  • Special Features: None

Interior Features

  • Appliances: Gas Water Heater, Multiple Water Heaters, Dishwasher, Disposal, Microwave, Electric Range, Free-Standing Range, Refrigerator
  • Total Bedrooms: 6
  • Fireplace Features: Living Room, Wood Burning
  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s), Pantry, Walk-In Closet(s)
  • Living Area: 2984
  • Room Kitchen Features: Breakfast

Exterior Features

  • Fencing: Wood
  • Lot Features: Landscaped
  • Construction Type: Brick Veneer
  • Foundation Details: Slab
  • Other Structures: Storage Shed
  • Patio And Porch Features: Fenced Patio, Patio-Covered, Patio-Open, Wood Deck
  • Roof: Composition

Garage/Parking

  • Attached Garage: No
  • Carport Spaces: 2
  • Covered Parking Spaces: 4
  • Garage Spaces: 2
  • Open Parking: No
  • Parking Features: Auto Garage Opener, Detached, Rear/Side Entry, Alley Access
  • Total Parking Spaces: 4

Utilities

  • Laundry Features: Washer/Dryer Connection
  • Security: Smoke Detector(s)
  • Cooling: Central Air, Electric
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Electric: Separate Meter-Electric
  • Electricity On Property: Yes
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected
  • Water Source: Separate Meter-Water, Public
  • Gas Company: Separate Meter-Gas

Schools

  • Elementary School: Bush
  • Junior High Dist: Midland
  • High School: Legacy
  • Middle Or Junior School: Abell

Lot Info

  • Lot Size Sq Ft: 8799.12
  • Farm Land Area Units: Square Feet
  • Parcel #: R000009597

Multi Family

  • Total Actual Rent: 4

Tax Info

  • Tax Annual Amount: 5210.78

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $5,296 $348,790 $22,040 $326,750
2023 $5,227 $348,790 $22,040 $326,750
2022 $5,027 $321,750 $22,040 $299,710
2021 $5,412 $310,650 $22,040 $288,610
2020 $4,982 $292,000 $22,040 $269,960
2019 $5,528 $292,000 $22,040 $269,960
2018 $4,397 $226,130 $22,040 $204,090
2017 $4,010 $206,260 $22,040 $184,220
2016 $3,981 $204,360 $22,040 $182,320
2015 -- $204,360 $22,040 $182,320
2014 -- $200,900 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/25/2025 06/25/25 For Sale $490,000 -- $164 / Sq Ft
Source: Permian Basin Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Vendors Lien -- West Tx Abstract & Ttl Co Ll
Vendors Lien -- Lone Star Abstract & Title C
Deed -- --
Warranty Deed -- Lone Star Abstract & Title C
Deed -- --
Deed -- --
Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $326,418 Construction
Closed $324,022 FHA
Previous Owner $172,000 New Conventional
Previous Owner $210,589 FHA
Source: Public Records

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Source: Permian Basin Board of REALTORS®

MLS Number: 50083255

Permian Basin Board of REALTORS®

APN: R000009-597

Texas Midland County Midland 79707

5102 Rainbow Rd Unit A & B, Midland, TX

This home is located at 5102 Rainbow Rd Unit A & B, Midland, TX 79707 and is currently priced at $490,000, approximately $164 per square foot. This property was built in 1983. 5102 Rainbow Rd Unit A & B is a home located in Midland County with nearby schools including Bush Elementary School, Abell Junior High School, and Legacy Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Permian Basin Board of REALTORS® All information provided is deemed reliable but is not guaranteed and should be independently verified.

Nearby Homes
Listing Agent
Erica Cross
Section Image
The Agency Kerri Payne James Real Estate Team
(432) 770-9578