2330 F M 1294 Unit A & B · Lubbock, TX 79403

$270,000

6 bd · 4.0 ba · 3,034 sqft · MultiFamily · 5 Days on market

Built 2021 0.72 ac lot

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Why this score? — see what drove the C- 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• 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

Great investment opportunity at 2330 FM 1294 A & B in Lubbock, TX. This duplex features two well maintained units, both currently rented, offering immediate income potential. Each side includes 3 bedrooms, 2 bathrooms, and a 1 car garage, with durable flooring throughout and no carpet. The primary suites feature double vanities and walk in closets, providing comfortable and functional living spaces. Each unit has its own fenced backyard with a covered back patio, ideal for outdoor enjoyment. The property operates on a shared well with separate septic systems for each unit, making it a practical and efficient investment just outside city limits.

Key facts

• Durable flooring
• Covered back patio
• Fenced backyard

Tags

• WELL MAINTAINED UNITS
• IMMEDIATE INCOME POTENTIAL
• DURABLE FLOORING
• FENCED BACKYARD
• COVERED BACK PATIO
• SEPARATE SEPTIC SYSTEMS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive. Per door: $105/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).

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.
• New Deal ISD (rural): math 39% / reading 43% proficiency, ranked #368 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Deal El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 275 students, 73% FRL); New Deal Middle (math 38% / reading 40%, grade F, #690 of 1,662 statewide, top 42%, 235 students, 72% FRL); New Deal H S (math 57% / reading 64%, grade C+, #265 of 1,632 statewide, top 16%, 244 students, 68% FRL) — zoned schools average 71% FRL vs 53% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 165 active listings in the ZIP; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $2,713/mo this rent would consume 68% of the median local household income ($48k/yr) (locally 612% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major 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 $270,000

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 1.00% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 8.3

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: -12.7%
• Equity multiple: 0.55×
• Total profit: $-34,219
• Equity at exit: $40,258

10-year hold

• IRR: -6.2%
• Equity multiple: 0.63×
• Total profit: $-28,027
• Equity at exit: $23,345

Cash invested: $75,600 (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: 16.6×

Monthly cashflow live

• Estimated rent: $2,713 medium
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$338 /mo · $4,050/yr
• Insurance: −$112
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $211

Break-even live

Break-even rent $2,446

Max offer price $270,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,712
Total (2 units)			$2,713

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-01-13
   status Pending
2. 2026-01-08
   listed $270,000 Active

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $32,556
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$2,148
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − Depreciation: −$7,855
• Taxable loss: −$1,829
• Est. tax savings @ 24.0%: +$439
• After-tax cash flow: $2,970/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: New Deal ISD
• NCES district ID: 4832430
• Math proficiency: 39% ▼ -3.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $48,346
• Composite: 35.15/100
• National rank: #5009
• State rank: #368 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

• 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

2 events — show timeline

• 2026-01-13 Pending — LARMLS
• 2026-01-08 Listed $270,000 LARMLS