2627 E Cornell St · Lubbock, TX 79403

$60,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 44 Days on market

Built 1964 7,055 sqft lot ↓ 26% since listing

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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
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2627 E Cornell — a great opportunity for investors looking for a performing property with built-in upside. This home is currently occupied by a long-term tenant, providing immediate stability and consistent occupancy. The property is currently under-rented, offering a clear opportunity to increase returns with a light cosmetic refresh. The home is in overall stable condition with no major repairs needed, making it an ideal candidate for improvements that can quickly bring rents up to market levels—without the need for a full renovation. Located in the Parkway/Cherry Point area of East Lubbock, this property sits in a rental market known for affordability and steady de

Key facts

• 7,055 sq ft lot
• Built 1964
• Listed 44 days

Property features AI

Exterior

• Parking: Driveway
• Home design: Single family residence; Residential property
• Construction: Composition roof; Slab foundation; Construction materials: Unknown; Built area above grade: 912
• Exterior features: None noted; Other exterior features; Paved road access; Publicly maintained road; City street frontage

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% 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: Rents rising (+1.5%/yr); 165 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire 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 $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.71% ✓
• Cap rate: 14.53%
• Cash-on-cash: 29.43%
• DSCR: 2.31
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.52% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 1.89×
• Total profit: $15,019
• Equity at exit: $8,946

10-year hold

• IRR: 29.3%
• Equity multiple: 3.43×
• Total profit: $40,900
• Equity at exit: $5,188

Cash invested: $16,800 (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 79403

• Home prices YoY: -9.0%
• Rents YoY: 1.5%
• Active inventory: 165
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,023 high
• Mortgage (P&I): −$315
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $412

Break-even live

Break-even rent $502

Max offer price $60,000

Occupancy floor 55%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2608 E Colgate St Lubbock, TX	3.0	1.0	990	$900	$0.91	43d	1	0.17mi
3116 E Cornell St Lubbock, TX	3.0	2.0	1125	$1,150	$1.02	21d	1	0.28mi
3118 E Cornell St Lubbock, TX	3.0	2.0	1125	$1,150	$1.02	21d	1	0.28mi
1918 E Cornell St Lubbock, TX	3.0	2.0	1028	$1,080	$1.05	21d	1	0.31mi
1730 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1015	$695	$0.68	43d	1	0.49mi
1726 E Dartmouth St Unit B Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	43d	1	0.51mi
1726 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	21d	1	0.52mi
2815 E 2nd St Apt 2 Lubbock, TX	3.0	1.0	750	$625	$0.83	13d	1	0.53mi
1828 E 1st St Lubbock, TX	3.0	1.0	1011	$695	$0.69	21d	1	0.54mi
2726 E 2nd St Lubbock, TX	3.0	1.0	816	$695	$0.85	21d	1	0.56mi
1711 E 1st St Lubbock, TX	3.0	2.0	1124	$900	$0.80	21d	1	0.70mi
3016 E 3rd St Lubbock, TX	3.0	1.0	978	$695	$0.71	21d	1	0.72mi
1802 E 2nd St Lubbock, TX	4.0	1.0	1096	$695	$0.63	21d	1	0.73mi
1802 E 2nd St Lubbock, TX	4.0	1.0	1096	$875	$0.80	43d	1	0.73mi
312 Beech Ave Lubbock, TX	3.0	1.0	816	$695	$0.85	21d	1	0.74mi
312 Beech Ave Lubbock, TX	3.0	1.0	816	$800	$0.98	43d	1	0.74mi
924 E Emory St Lubbock, TX	1.0–2.0	1.0–2.0	865	$1,008	$1.17	13d	8	0.78mi
804 David Ave Lubbock, TX	3.0	2.0	1028	$1,049	$1.02	13d	1	1.13mi
808 Vanda Ave Lubbock, TX	3.0	1.0	832	$695	$0.84	21d	1	1.15mi
1014 David Ave Lubbock, TX	3.0	2.0	1028	$1,030	$1.00	13d	1	1.20mi
824 Vanda Ave Lubbock, TX	3.0	1.0	832	$750	$0.90	43d	1	1.22mi
2226 E Main St Lubbock, TX	3.0	2.0	1100	$1,150	$1.05	43d	1	1.28mi
2123 E Broadway Unit 2 Lubbock, TX	3.0	1.0	963	$950	$0.99	21d	1	1.32mi
2117 E Broadway Unit 1 Lubbock, TX	3.0	1.0	963	$950	$0.99	43d	1	1.32mi
506 E Municipal Dr Lubbock, TX	3.0	1.0	1065	$900	$0.85	43d	1	1.42mi

Listing history 22 events

1. 2026-06-18
   days on market $60,000 Active 44 DOM
2. 2026-06-17
   days on market $60,000 Active 43 DOM
3. 2026-06-16
   days on market $60,000 Active 42 DOM
4. 2026-06-15
   days on market $60,000 Active 41 DOM
5. 2026-06-14
   days on market $60,000 Active 39 DOM
6. 2026-06-13
   days on market $60,000 Active 38 DOM
7. 2026-06-10
   days on market $60,000 Active 36 DOM
8. 2026-06-09
   days on market $60,000 Active 35 DOM
9. 2026-06-08
   days on market $60,000 Active 34 DOM
10. 2026-06-07
    days on market $60,000 Active 33 DOM
11. 2026-06-05
    days on market $60,000 Active 30 DOM
12. 2026-06-03
    days on market $60,000 Active 29 DOM
13. 2026-06-02
    days on market $60,000 Active 28 DOM
14. 2026-06-01
    days on market $60,000 Active 27 DOM
15. 2026-05-31
    days on market $60,000 Active 26 DOM
16. 2026-05-30
    days on market $60,000 Active 25 DOM
17. 2026-05-05
    listed $60,000 Active 1096-char remark
18. 2025-12-03
    price $60,000
19. 2025-11-18
    price $81,000
20. 2011-06-02
    soldstatus
21. 2008-06-12
    soldstatus
22. 2007-10-23
    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: $683 · $57/mo
• Projected year-2 tax: $1,098 · $92/mo
• Expected delta: +$415/yr (+$35/mo · 60.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,282
• − Mortgage interest: −$3,361
• − Property taxes: −$683
• − Insurance: −$300
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$1,745
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $3,929/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): 16,089
• Household income: $47,907
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 612.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 26% Black 23% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 74% English-only · Spanish 25%

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: ▼ -17.69%
• Current HPI: 178.9297
• Rent YoY: ▲ 1.52%
• 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

-25.9% since first listed

6 events — show timeline

• 2026-05-05 Listed $60,000 LARMLS
• 2025-12-03 Price Changed $60,000 LARMLS
• 2025-11-18 Price Changed $81,000 LARMLS
• 2011-06-02 Sold (Public Records) — Public Records
• 2008-06-12 Sold (Public Records) — Public Records
• 2007-10-23 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $683 · -5.5% YoY. Source: county tax records.