332 37th St · Lubbock, TX 79404

$160,000

6 bd · 2.0 ba · 1,500 sqft · MultiFamily public records · 9 Days on market

Built 2017 6,769 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 +27.0/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Investment opportunity with plenty of potential! This well maintained duplex offers two spacious units, each featuring 3 bedrooms, 1 bathroom and an open concept living and dining area that creates a comfortable, functional layout. The kitchens have cabin-style wood cabinetry and plenty of workspace. With one side leased and the other side move-in ready for tenants, this duplex offers solid rental potential and low-maintenance ownership.

Key facts

• Open concept living
• 6,769 sq ft lot
• Built 2017

Tags

• OPEN CONCEPT LIVING
• CABIN STYLE WOOD CABINETRY
• SOLID RENTAL POTENTIAL
• LOW MAINTENANCE OWNERSHIP

Property features AI

Finance

• Other: Zoned multi-family
• HOA & community: No community features listed

Exterior

• Parking: Off-street parking on parking pad
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Duplex (residential income); Updated/remodeled; Single-story
• Construction: Board & batten siding; Composition roof; Slab foundation; Built as duplex
• Exterior features: City lot; Paved, public maintained city street; No exterior structures listed; No fencing

Interior

• Kitchen: Electric range
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fan cooling
• Interior features: Ceiling fans; Eat-in kitchen; Natural woodwork; Open floorplan; Blinds
• Laundry & utility: Washer and dryer inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive. Per door: $224/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

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-, 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.
• Zoned schools: Harwell El (math 34% / reading 37%, grade F, #1,946 of 4,322 statewide, top 45%, 410 students, 88% FRL); Dunbar College Preparatory Academy (math 16% / reading 20%, grade F, #1,491 of 1,662 statewide, top 91%, 430 students, 97% FRL, charter); Estacado H S (math 26% / reading 29%, grade F, #1,183 of 1,632 statewide, top 73%, 897 students, 90% FRL) — zoned schools average 92% FRL vs 60% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 91 active listings in the ZIP; 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 $6k of equity ($1k loan paydown + $5k 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 $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 1.18% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.97%
• DSCR: 1.53
• GRM: 7.0

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: 19.2%
• Equity multiple: 2.11×
• Total profit: $49,642
• Equity at exit: $73,964

10-year hold

• IRR: 20.3%
• Equity multiple: 4.00×
• Total profit: $134,499
• Equity at exit: $115,584

Cash invested: $44,800 (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: 14.1×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$839
• Tax from tax record: −$144 /mo · $1,731/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $447

Break-even live

Break-even rent $1,329

Max offer price $160,000

Occupancy floor 71%

Sensitivity live

Price	-10% $538	-5% $492	+0% $447	+5% $402	+10% $356
Rent	-10% $297	-5% $372	+0% $447	+5% $522	+10% $597
Rate	-1.0pp $528	-0.5pp $488	base $447	+0.5pp $406	+1.0pp $363

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,894
Total (2 units)			$1,895

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $160,000 Active 9 DOM
2. 2026-06-17
   days on market $160,000 Active 8 DOM
3. 2026-06-16
   days on market $160,000 Active 7 DOM
4. 2026-06-15
   days on market $160,000 Active 6 DOM
5. 2026-06-14
   days on market $160,000 Active 4 DOM
6. 2026-06-13
   days on market $160,000 Active 3 DOM
7. 2026-06-10
   remarks 441-char remark
8. 2026-06-10
   listed $160,000 Active 1 DOM

ⓘ 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: $1,731 · $144/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$1,197/yr (+$100/mo · 69.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 22 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: $22,740
• − Mortgage interest: −$8,962
• − Property taxes: −$1,731
• − Insurance: −$800
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$4,655
• Taxable income: $2,953
• Est. tax owed @ 24.0%: −$709
• After-tax cash flow: $4,656/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

12 events — show timeline

• 2026-06-09 Listed $160,000 LARMLS
• 2024-03-14 Rental Removed $750 APPFOLIO
• 2024-02-25 Listed for Rent $750 APPFOLIO
• 2024-02-21 Rental Removed $750 LARMLS
• 2024-01-23 Listed for Rent $750 LARMLS
• 2024-01-23 Rental Removed $750 APPFOLIO
• 2024-01-18 Listed for Rent $750 APPFOLIO
• 2018-10-08 Sold (Public Records) — Public Records
• 2018-10-08 Sold (Public Records) — Public Records
• 2018-10-08 Sold (Public Records) — Public Records
• 2017-10-23 Sold (Public Records) — Public Records
• 2017-08-28 Sold (Public Records) — Public Records

Property tax history

+24.9%/yr

Latest (2025): $1,731 · -33.8% YoY. Source: county tax records.