1211 140th St

Lubbock, TX 79423

$222,500D

4 bd · 3.0 ba · 3,174 sqft · Built 1954 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,929/mo
• Mortgage (P&I): −$1,167
• Tax + insurance: −$422
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $-64/mo
• Annual: $-772/yr
• Cap rate: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• 1% rule: 0.87%
• Cash to close: $62,300

Investor read

• This is a 4-bed/3.0-bath single-family listed at $222k.
• At list price, monthly cash flow is $-64 ($-772/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (13.3% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $193k (13.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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 Central El (math 57% / reading 59%, grade C+, #480 of 4,322 statewide, top 11%, 849 students, 23% FRL); Lubbock-Cooper Middle (math 46% / reading 45%, grade D+, #470 of 1,662 statewide, top 29%, 914 students, 37% FRL); Lubbock-Cooper H S (math 67% / reading 65%, grade B, #189 of 1,632 statewide, top 12%, 2,117 students, 31% FRL) — zoned schools at 30% FRL track the district average.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• 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?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.