301 36th St Unit A & B · Lubbock, TX 79404

$175,000

6 bd · 2.0 ba · 1,500 sqft · MultiFamily · 43 Days on market

Built 2018 Good condition 6,304 sqft lot

---

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 +18.4/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Great Investment property. Units A & B. Currently, Units A & B are rented for $725 mo. each. Contact LA for more information. Leases are up in September & November. Other duplexes in the same area same condition rent for $950 mo. Owners will consider carrying the note or the owner's current loan at 3.5% can be assumed with cash equity paid at closing.

Key facts

• 6,304 sq ft lot
• Built 2018
• Listed 42 days

Property features AI

Exterior

• Parking: Parking pad
• Security: Owned security system
• Utilities: Public water; Public sewer; Electricity available; Cable available; Water and sewer available
• Home design: Duplex (residential income); Updated/remodeled
• Construction: Board & batten siding; Composition roof; Slab foundation; Built area listed as 1,500 above-grade finished
• Exterior features: No exterior amenities listed; Paved city street frontage; Publicly maintained road

Interior

• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Ceiling fan(s); Blinds; Double pane windows; Electric water heater
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (0.7% below list).
• Recommended offer: $170k (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-, 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 40% 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 $7k of equity ($1k loan paydown + $6k 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 $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

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 $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 7.41%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 8.4

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: 11.8%
• Equity multiple: 1.69×
• Total profit: $33,608
• Equity at exit: $80,898

10-year hold

• IRR: 13.8%
• Equity multiple: 3.09×
• Total profit: $102,544
• Equity at exit: $126,420

Cash invested: $49,000 (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 79404

• Home prices YoY: 2.0%
• Active inventory: 91
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $1,738 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $164

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,738
Total (2 units)			$1,738

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $175,000 Active 43 DOM
2. 2026-06-17
   remarks 358-char remark
3. 2026-06-17
   days on market $175,000 Active 42 DOM
4. 2026-06-16
   days on market $175,000 Active 41 DOM
5. 2026-06-15
   days on market $175,000 Active 40 DOM
6. 2026-06-14
   days on market $175,000 Active 38 DOM
7. 2026-06-13
   days on market $175,000 Active 37 DOM
8. 2026-06-10
   days on market $175,000 Active 35 DOM
9. 2026-06-09
   days on market $175,000 Active 34 DOM
10. 2026-06-08
    days on market $175,000 Active 33 DOM
11. 2026-06-07
    days on market $175,000 Active 32 DOM
12. 2026-06-05
    days on market $175,000 Active 29 DOM
13. 2026-06-03
    days on market $175,000 Active 28 DOM
14. 2026-06-02
    days on market $175,000 Active 27 DOM
15. 2026-06-01
    days on market $175,000 Active 26 DOM
16. 2026-05-31
    days on market $175,000 Active 25 DOM
17. 2026-05-30
    days on market $175,000 Active 24 DOM
18. 2026-05-06
    listed $175,000 Active 245-char remark

ⓘ 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 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: $20,856
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$5,091
• Taxable loss: −$875
• Est. tax savings @ 24.0%: +$210
• After-tax cash flow: $2,174/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with a cosmetic rehab level. It has a good rental history and is currently rented for $725 per month. Potential value can be increased with minor touch-ups and improvements to the exterior and landscaping.

Value-add opportunities

• Both Paint touch-ups — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Landscaping — Well-maintained landscaping can improve the home's curb appeal and attract potential buyers/tenants.
• Rental HVAC maintenance — A clean and functioning HVAC system is essential for tenant satisfaction and can prevent costly repairs.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping — Well-maintained landscaping can improve the home's curb appeal and attract potential buyers/tenants. ↑
• Rental HVAC maintenance — A clean and functioning HVAC system is essential for tenant satisfaction and can prevent costly repairs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-06 Listed $175,000 LARMLS