1613 102nd St · Lubbock, TX 79423

$350,000

6 bd · 4.0 ba · 3,197 sqft · MultiFamily public records · 21 Days on market

Built 2020 8,620 sqft lot

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Why this score? — see what drove the D 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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Built in 2020, this well-maintained duplex in South Lubbock presents an excellent investment opportunity within the highly desirable Cooper ISD. Each side offers 1,523 sq. ft. of living space, thoughtfully designed with three bedrooms and two bathrooms to accommodate today's tenants. The property's prime location provides quick access to schools, shopping, and major roadways, adding to its long-term rental appeal. With reliable tenants already in place, this low maintenance property has been well cared for and is truly turnkey. An ideal choice for investors seeking steady income in a strong rental market.

Key facts

• Prime location
• 8,620 sq ft lot
• 2 garage spots

Tags

• INVESTMENT OPPORTUNITY
• PRIME LOCATION
• QUICK ACCESS TO SCHOOLS
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO MAJOR ROADWAYS
• LOW MAINTENANCE PROPERTY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative. Per door: $-52/mo.
• To cash-flow at today's rent, offer at most $332k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (9.1% below list).
• Recommended offer: $318k (9.1% below list) — sets the bar for 1% rule.

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-Cooper ISD (rural): math 54% / reading 52% proficiency, ranked #98 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lubbock-Cooper North El (math 49% / reading 48%, grade D, #950 of 4,322 statewide, top 22%, 721 students, 52% FRL); Lubbock-Cooper Laura Bush Middle (math 53% / reading 50%, grade C, #318 of 1,662 statewide, top 20%, 971 students, 34% FRL); Lubbock-Cooper H S (math 67% / reading 65%, grade B, #189 of 1,632 statewide, top 12%, 2,117 students, 31% FRL).
• Market conditions: Rents rising (+2.1%/yr); 673 active listings in the ZIP; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• This rent runs 45% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 2 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $318,100 (9.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.13% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.33×
• Total profit: $-65,894
• Equity at exit: $52,186

10-year hold

• IRR: -14.0%
• Equity multiple: 0.22×
• Total profit: $-76,305
• Equity at exit: $30,262

Cash invested: $98,000 (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 79423

• Rents YoY: 2.1%
• Active inventory: 673
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $3,181 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$635 /mo · $7,622/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $-103

Break-even live

Break-even rent $3,312

Max offer price $331,728

Occupancy floor 98%

Sensitivity live

Price	-10% $95	-5% $-4	+0% $-103	+5% $-202	+10% $-302
Rent	-10% $-355	-5% $-229	+0% $-103	+5% $22	+10% $148
Rate	-1.0pp $73	-0.5pp $-14	base $-103	+0.5pp $-194	+1.0pp $-286

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,180
Total (2 units)			$3,181

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-06
   listed $350,000 Active
3. 2024-11-04
   historical $1,499
4. 2024-10-23
   listed $1,499
5. 2022-01-24
   price $1,450
6. 2021-04-30
   soldstatus
7. 2021-04-30
   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: $7,622 · $635/mo
• Projected year-2 tax: $7,622 · $635/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $38,172
• − Mortgage interest: −$19,605
• − Property taxes: −$7,622
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,054
• − Management: −$3,054
• − Depreciation: −$10,182
• Taxable loss: −$7,095
• Est. tax savings @ 24.0%: +$1,703
• After-tax cash flow: $462/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-Cooper ISD
• NCES district ID: 4815180
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $77,347
• Composite: 47.9/100
• National rank: #2214
• State rank: #98 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): 46,998
• Household income: $84,933
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 1385.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 31% Two or more races 15% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 84% English-only · Spanish 13% Tagalog/Filipino 1% Other Asian/Pacific 1%

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: ▼ -155.00%
• Current HPI: 213.6491
• Rent YoY: ▲ 2.13%
• 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

+24037.9% since first listed

7 events — show timeline

• 2026-04-27 Pending — LARMLS
• 2026-04-06 Listed $350,000 LARMLS
• 2024-11-04 Rental Removed $1,499 RENTALBEAST
• 2024-10-23 Listed for Rent $1,499 RENTALBEAST
• 2022-01-24 Price Changed $1,450 RENT.
• 2021-04-30 Sold (Public Records) — Public Records
• 2021-04-30 Sold (Public Records) — Public Records

Property tax history

+44.0%/yr

Latest (2025): $7,622 · -0.3% YoY. Source: county tax records.