2104 Date Ave · Lubbock, TX 79404

$110,000

4 bd · 2.0 ba · 1,584 sqft · MultiFamily public records · 75 Days on market

Built 1947 7,000 sqft lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex Rental investment property, currently rented for $1,650 per month . Newly remodeled inside including, including paint, flooring, tile, new bathroom fixtures, Mini split HVACs , currently rented. Four bedrooms 2 baths, and 1 car garage. In good condition. This cash cow won't last long!

Key facts

• Mini split hvacs
• Good condition
• 7,000 sq ft lot

Tags

• MINI SPLIT HVACS
• GOOD CONDITION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive. Per door: $357/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#37 in TX, #1,749 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools D+, crime F.
• Lubbock ISD (urban): math 36% / reading 39% proficiency, ranked #481 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 91 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• This rent runs 44% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($761 loan paydown + $4k appreciation (3.2% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.72% ✓
• Cap rate: 14.09%
• Cash-on-cash: 27.86%
• DSCR: 2.24
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.2%
• Equity multiple: 2.95×
• Total profit: $60,133
• Equity at exit: $50,850

10-year hold

• IRR: 34.2%
• Equity multiple: 5.83×
• Total profit: $148,719
• Equity at exit: $79,464

Cash invested: $30,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 79404

• Home prices YoY: 2.0%
• Active inventory: 91
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,891 high
• Mortgage (P&I): −$577
• Tax from tax record: −$156 /mo · $1,875/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $715

Break-even live

Break-even rent $986

Max offer price $110,000

Occupancy floor 57%

Sensitivity live

Price	-10% $777	-5% $746	+0% $715	+5% $684	+10% $653
Rent	-10% $566	-5% $640	+0% $715	+5% $790	+10% $864
Rate	-1.0pp $770	-0.5pp $743	base $715	+0.5pp $686	+1.0pp $657

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,890
Total (2 units)			$1,891

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2603 Elm Ave Lubbock, TX	3.0	2.0	1214	$1,175	$0.97	44d	1	0.39mi
1202 Main St Lubbock, TX	3.0	1.0–2.0	919	$1,653	$1.80	14d	13	1.13mi
1517 25th St Lubbock, TX	3.0	2.0	1514	$1,095	$0.72	22d	1	1.17mi
1516 E 8th St Lubbock, TX	3.0	2.0	1172	$1,050	$0.90	22d	1	1.18mi
419 38th St Lubbock, TX	3.0	1.0	1206	$950	$0.79	44d	1	1.21mi
3113 Teak Ave Lubbock, TX	3.0	1.0	1088	$750	$0.69	44d	1	1.24mi
3113 Teak Ave Lubbock, TX	3.0	1.0	1088	$695	$0.64	22d	1	1.24mi
2206 E Main St Lubbock, TX	3.0	2.0	1152	$975	$0.85	45d	1	1.31mi
2211 E Main St Lubbock, TX	3.0	2.0	1172	$1,100	$0.94	44d	1	1.34mi
1716 24th St Lubbock, TX	4.0	2.0	1742	$1,850	$1.06	44d	1	1.37mi
2226 E Main St Lubbock, TX	3.0	2.0	1100	$1,150	$1.05	44d	1	1.38mi
1904 24th St Lubbock, TX	3.0	1.0	1172	$1,100	$0.94	44d	1	1.45mi
1912 20th St Unit A Lubbock, TX	3.0	2.0	1590	$1,000	$0.63	22d	1	1.47mi
1912 21st St Lubbock, TX	3.0	2.0	1473	$1,025	$0.70	44d	1	1.47mi
519 42nd St Apt A Lubbock, TX	3.0	1.0	1092	$895	$0.82	14d	1	1.48mi

Listing history 15 events

1. 2026-05-31
   days on market $110,000 Active 75 DOM
2. 2026-05-30
   days on market $110,000 Active 74 DOM
3. 2026-04-26
   status Active 292-char remark

   Show marketing remark (292 chars)

   Duplex Rental investment property, currently rented for $1,650 per month . Newly remodeled inside including, including paint, flooring, tile, new bathroom fixtures, Mini split HVACs , currently rented. Four bedrooms 2 baths, and 1 car garage. In good condition. This cash cow won't last long!

4. 2026-03-14
   status Pending 292-char remark

   Show marketing remark (292 chars)

   Duplex Rental investment property, currently rented for $1,650 per month . Newly remodeled inside including, including paint, flooring, tile, new bathroom fixtures, Mini split HVACs , currently rented. Four bedrooms 2 baths, and 1 car garage. In good condition. This cash cow won't last long!

5. 2026-02-23
   price $110,000 292-char remark

   Show marketing remark (292 chars)

   Duplex Rental investment property, currently rented for $1,650 per month . Newly remodeled inside including, including paint, flooring, tile, new bathroom fixtures, Mini split HVACs , currently rented. Four bedrooms 2 baths, and 1 car garage. In good condition. This cash cow won't last long!

6. 2026-02-02
   listed $120,000 Active 292-char remark

   Show marketing remark (292 chars)

   Duplex Rental investment property, currently rented for $1,650 per month . Newly remodeled inside including, including paint, flooring, tile, new bathroom fixtures, Mini split HVACs , currently rented. Four bedrooms 2 baths, and 1 car garage. In good condition. This cash cow won't last long!

7. 2021-06-22
   soldstatus
8. 2021-06-16
   soldstatus
9. 2021-05-19
   soldstatus
10. 2021-03-29
    listed $84,000
11. 2019-06-11
    soldstatus
12. 2019-06-07
    soldstatus
13. 2019-03-01
    listed $47,000
14. 2006-03-02
    soldstatus
15. 1997-08-01
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,875 · $156/mo
• Projected year-2 tax: $2,013 · $168/mo
• Expected delta: +$138/yr (+$12/mo · 7.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,692
• − Mortgage interest: −$6,162
• − Property taxes: −$1,875
• − Insurance: −$550
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$3,200
• Taxable income: $7,275
• Est. tax owed @ 24.0%: −$1,746
• After-tax cash flow: $6,834/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lubbock ISD
• NCES district ID: 4828500
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $39,820
• Composite: 31.44/100
• National rank: #5984
• State rank: #481 of 826 in TX

Livability — Lubbock

• Score: 80/100
• State rank: #37
• US rank: #1749

Category grades

Amenities A Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lubbock, TX
• County: Lubbock County · 293,542 people
• City population: 283,030
• Metro: Lubbock, TX
• Population (ZIP): 8,529
• Household income: $51,630
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 366.0

Population outlook (Lubbock County) Hauer SSP2

• Today (2025): 345,960 people
• By 2030: 371,449 · +7.4%
• By 2040: 424,539 · +22.7%
• By 2050: 481,150 · +39.1%
• By 2075: 633,467 · +83.1%
• By 2100: 746,853 · +115.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 55% Black 22% White 20% Two or more races 17% Native American 2%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Romanian 1% Lithuanian 0%
• Foreign-born: 5% · Canada
• Languages at home: 64% English-only · Spanish 36%

Political lean MEDSL · Lubbock

• 2024 margin: Solid R (+39.5) · D 29.7% · R 69.2% · Other 1.0%
• 2008→2024 swing: -2.8pp toward R · 2008: -36.7pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+32.2 2016: R+38.4 2012: R+40.9 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.22%
• Current HPI: 163.854
• Rent YoY: —
• Metro: Lubbock, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+134.0% since first listed

13 events — show timeline

• 2026-04-26 Relisted — LARMLS
• 2026-03-14 Pending — LARMLS
• 2026-02-23 Price Changed $110,000 LARMLS
• 2026-02-02 Listed $120,000 LARMLS
• 2021-06-22 Sold (Public Records) — Public Records
• 2021-06-16 Sold (MLS) — LARMLS
• 2021-05-19 Sold (Public Records) — Public Records
• 2021-03-29 Listed $84,000 LARMLS
• 2019-06-11 Sold (Public Records) — Public Records
• 2019-06-07 Sold (MLS) — LARMLS
• 2019-03-01 Listed $47,000 LARMLS
• 2006-03-02 Sold (Public Records) — Public Records
• 1997-08-01 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,875 · -2.6% YoY. Source: county tax records.