2131 S Loop 289 · Lubbock, TX 79423

$139,900

4 bd · 2.0 ba · 1,905 sqft · MultiFamily public records · 19 Days on market

Built 1959 7,043 sqft lot $73/sqft · 10% below area Est $155k · 10% under

---

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 +30.0/30.0
• ARV discount +11.8/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Duplex in south Lubbock--live in one, rent the other This is a great setup if you've been thinking about owning instead of renting. Live in one side and have the other help cover your payment, or hold both as an investment over time. Each side is 2 bed/1 bath, giving you 4 bedrooms and 2 bathrooms total, plus two full kitchens. One unit has been refreshed with hardwood floors, new paint, updated bathroom, and new lighting. The other side is currently leased to a long-term tenant at $550/month, providing immediate income. There's a clear path here to improve the second unit over time and increase overall rental potential. Located in south Lubbock with direct access to Loop 289 for easy conne

Key facts

• New lighting
• Duplex
• Hardwood floors

Tags

• DUPLEX
• TWO FULL KITCHENS
• HARDWOOD FLOORS
• UPDATED BATHROOM
• NEW LIGHTING
• DIRECT ACCESS TO LOOP 289

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% 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-, schools D+, 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.
• Market conditions: Rents rising (+2.1%/yr); 663 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.40% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 5.9

CMA / ARV

• ARV (median comp): $154,767
• List price: $139,900
• Delta: -3.14%
• Verdict: FAIR
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.0%
• Equity multiple: 1.23×
• Total profit: $9,010
• Equity at exit: $20,860

10-year hold

• IRR: 14.6%
• Equity multiple: 2.13×
• Total profit: $44,149
• Equity at exit: $12,096

Cash invested: $39,172 (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: 663
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,964 high
• Mortgage (P&I): −$734
• Tax from tax record: −$237 /mo · $2,838/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $523

Break-even live

Break-even rent $1,302

Max offer price $139,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,964
Total (2 units)			$1,964

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7304 Avenue W Lubbock, TX	3.0	2.0	1500	$999	$0.67	14d	1	0.08mi
1940 77th St Lubbock, TX	3.0	2.0	1700	$1,500	$0.88	44d	1	0.32mi
2115 66th St Lubbock, TX	4.0	2.0	2160	$1,795	$0.83	21d	1	0.35mi
1923 76th St Lubbock, TX	3.0	2.0	1622	$1,699	$1.05	44d	1	0.37mi
1927 71st St Lubbock, TX	4.0	2.0	1807	$1,600	$0.89	21d	1	0.40mi
1915 76th St Lubbock, TX	3.0	2.0	1911	$1,550	$0.81	14d	1	0.41mi
1923 67th St Lubbock, TX	4.0	2.0	1467	$1,525	$1.04	44d	1	0.42mi
2117 65th St Lubbock, TX	3.0	2.0	2285	$1,975	$0.86	21d	1	0.46mi
1816 75th St Lubbock, TX	4.0	2.0	1516	$2,000	$1.32	21d	1	0.47mi
7006 Avenue S Lubbock, TX	4.0	2.0	1498	$1,800	$1.20	44d	1	0.55mi
2726 68th St Lubbock, TX	4.0	2.0	1524	$1,800	$1.18	44d	1	0.56mi
2730 68th St Lubbock, TX	4.0	3.0	2050	$1,999	$0.98	21d	1	0.58mi
8108 Sherman Ave Lubbock, TX	3.0	2.0	1306	$1,400	$1.07	44d	1	0.66mi
1805 79th Pl Lubbock, TX	3.0	2.0	1284	$1,375	$1.07	44d	1	0.70mi
1625 79th Pl Lubbock, TX	3.0	2.0	1541	$1,650	$1.07	44d	1	0.73mi
2725 63rd St Unit FS Lubbock, TX	3.0	2.0	1624	$1,599	$0.98	44d	1	0.82mi
6130 Avenue P Lubbock, TX	4.0	2.0	1387	$1,100	$0.79	44d	1	0.83mi
2218 88th St Lubbock, TX	3.0	2.0	1311	$1,450	$1.11	44d	1	0.97mi
2121 56th St Lubbock, TX	3.0	2.0	2047	$1,999	$0.98	21d	1	0.97mi
2108 88th St Lubbock, TX	4.0	3.0	2130	$1,850	$0.87	14d	1	0.99mi
2821 61st St Lubbock, TX	3.0	1.0	1230	$1,100	$0.89	44d	1	1.01mi
1115 80th St Unit A Lubbock, TX	3.0	2.0	1443	$1,250	$0.87	44d	1	1.08mi
1113 80th St Unit A Lubbock, TX	3.0	2.0	1443	$1,250	$0.87	44d	1	1.09mi
8219 Elkridge Ave Lubbock, TX	3.0	2.0	1405	$1,475	$1.05	44d	1	1.12mi
8216 Elkridge Ave Lubbock, TX	3.0	2.0	1412	$1,550	$1.10	21d	1	1.13mi
1118 82nd St Unit A Lubbock, TX	3.0	2.0	1243	$950	$0.76	44d	1	1.14mi
1116 82nd St Unit B Lubbock, TX	3.0	2.0	1243	$950	$0.76	44d	1	1.15mi
1112 82nd St Unit B Lubbock, TX	3.0	2.0	1243	$950	$0.76	44d	1	1.17mi
1108 82nd St Unit A Lubbock, TX	3.0	2.0	1243	$950	$0.76	44d	1	1.19mi
1106 82nd St Unit B Lubbock, TX	3.0	2.0	1243	$950	$0.76	44d	1	1.19mi
2703 54th St Lubbock, TX	5.0	2.0	2116	$2,000	$0.95	44d	1	1.20mi
3307 74th St Unit A Lubbock, TX	3.0	2.5	2024	$1,540	$0.76	44d	1	1.26mi
2204 93rd St Lubbock, TX	3.0	2.0	1258	$1,325	$1.05	14d	1	1.27mi
2415 93rd St Lubbock, TX	3.0	2.0	1692	$1,650	$0.98	21d	1	1.32mi
3236 63rd St Lubbock, TX	3.0	2.5	1818	$1,524	$0.84	14d	1	1.33mi
2823 54th St Lubbock, TX	3.0	2.0	1725	$1,825	$1.06	44d	1	1.34mi
2107 48th St Lubbock, TX	3.0	1.0	1956	$1,200	$0.61	44d	1	1.48mi

Listing history 17 events

1. 2026-06-15
   days on market $139,900 Active 19 DOM
2. 2026-06-14
   days on market $139,900 Active 17 DOM
3. 2026-06-13
   days on market $139,900 Active 16 DOM
4. 2026-06-10
   days on market $139,900 Active 14 DOM
5. 2026-06-09
   days on market $139,900 Active 13 DOM
6. 2026-06-08
   days on market $139,900 Active 12 DOM
7. 2026-06-07
   days on market $139,900 Active 11 DOM
8. 2026-06-05
   days on market $139,900 Active 8 DOM
9. 2026-06-03
   days on market $139,900 Active 7 DOM
10. 2026-06-02
    days on market $139,900 Active 6 DOM
11. 2026-06-01
    days on market $139,900 Active 5 DOM
12. 2026-05-31
    days on market $139,900 Active 4 DOM
13. 2026-05-30
    days on market $139,900 Active 3 DOM
14. 2026-04-17
    listed $149,900 Active 724-char remark
15. 1994-04-01
    soldstatus
16. 1993-02-01
    soldstatus
17. 1991-07-01
    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: $2,838 · $237/mo
• Projected year-2 tax: $2,838 · $237/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 1/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥99°F today · 19 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: $23,568
• − Mortgage interest: −$7,837
• − Property taxes: −$2,838
• − Insurance: −$700
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − Depreciation: −$4,070
• Taxable income: $4,353
• Est. tax owed @ 24.0%: −$1,045
• After-tax cash flow: $5,233/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): 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

Property tax history

+2.6%/yr

Latest (2025): $2,838 · -2.6% YoY. Source: county tax records.