5420 Harvard St · Lubbock, TX 79416

$260,000

6 bd · 6.0 ba · 2,732 sqft · MultiFamily public records · 11 Days on market

Built 2004 8,040 sqft 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Schools +3.1/10.0
• 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

Excellent investment opportunity featuring a duplex with 3 bedrooms and 3 full bathrooms on each side. Conveniently located in north Lubbock with easy access to Loop 289, Texas Tech University, and the Medical District. Each bedroom includes its own full bathroom, offering added comfort, privacy, and appeal for tenants. Both units feature washer and dryer connections, small fenced backyards, and off-street parking via a shared driveway. Ideal for tenants seeking low-maintenance living space seeking private bedroom suites and functional living space. Both units are currently leased, providing immediate rental income for investors.

Key facts

• Medical district
• Off-street parking
• Duplex

Tags

• DUPLEX
• EASY ACCESS TO LOOP 289
• TEXAS TECH UNIVERSITY
• MEDICAL DISTRICT
• WASHER AND DRYER CONNECTIONS
• OFF-STREET PARKING

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Attached rear-facing garage; 2 garage spaces
• Security: Carbon monoxide detectors; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Single-story; Updated/remodeled
• Construction: Brick construction; Composition roof; Slab foundation; Built on 0.19-acre lot
• Exterior features: Fenced backyard; Paved public road access on a city street

Interior

• Kitchen: Electric oven; Microwave; Refrigerator; Electric water heater
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: Six full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans throughout
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive. Per door: $308/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).

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: Centennial El (math 38% / reading 36%, grade F, #1,769 of 4,322 statewide, top 44%, 618 students, 84% FRL); Mackenzie Middle (math 19% / reading 27%, grade F, #1,327 of 1,662 statewide, top 81%, 515 students, 88% FRL); Coronado H S (math 34% / reading 38%, grade F, #930 of 1,632 statewide, top 57%, 1,960 students, 66% FRL) — zoned schools average 79% FRL vs 60% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 464 active listings in the ZIP; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $3,071/mo this rent would consume 58% of the median local household income ($64k/yr) (locally 2214% 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $260,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.17%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.21% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-5,202
• Equity at exit: $38,767

10-year hold

• IRR: 6.9%
• Equity multiple: 1.50×
• Total profit: $36,508
• Equity at exit: $22,480

Cash invested: $72,800 (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 79416

• Home prices YoY: -20.0%
• Rents YoY: 2.2%
• Active inventory: 464
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,071 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$337 /mo · $4,047/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $617

Break-even live

Break-even rent $2,290

Max offer price $260,000

Occupancy floor 75%

Sensitivity live

Price	-10% $764	-5% $691	+0% $617	+5% $543	+10% $470
Rent	-10% $374	-5% $496	+0% $617	+5% $738	+10% $860
Rate	-1.0pp $748	-0.5pp $683	base $617	+0.5pp $550	+1.0pp $481

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,072
Total (2 units)			$3,071

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-17
   status $260,000 Pending 11 DOM
2. 2026-06-17
   days on market $260,000 Active 11 DOM
3. 2026-06-16
   days on market $260,000 Active 10 DOM
4. 2026-06-15
   days on market $260,000 Active 9 DOM
5. 2026-06-14
   days on market $260,000 Active 7 DOM
6. 2026-06-13
   days on market $260,000 Active 6 DOM
7. 2026-06-10
   days on market $260,000 Active 4 DOM
8. 2026-06-09
   days on market $260,000 Active 3 DOM
9. 2026-06-08
   days on market $260,000 Active 2 DOM
10. 2026-06-07
    remarks 637-char remark
11. 2026-06-07
    listed $260,000 Active 1 DOM

ⓘ 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: $4,047 · $337/mo
• Projected year-2 tax: $4,758 · $396/mo
• Expected delta: +$711/yr (+$59/mo · 17.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 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: $36,852
• − Mortgage interest: −$14,564
• − Property taxes: −$4,047
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,948
• − Management: −$2,948
• − Depreciation: −$7,564
• Taxable income: $3,481
• Est. tax owed @ 24.0%: −$835
• After-tax cash flow: $6,569/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): 36,442
• Household income: $63,896
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2214.0

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 0.62)
• Race & ethnicity: White 49% Hispanic / Latino 35% Two or more races 14% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Chinese 1% Tagalog/Filipino 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: ▼ -56.94%
• Current HPI: 227.7841
• Rent YoY: ▲ 2.21%
• 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

+22508.7% since first listed

4 events — show timeline

• 2026-05-28 Listed $260,000 LARMLS
• 2023-09-21 Rental Removed $1,125 APPFOLIO
• 2023-09-07 Price Changed $1,125 APPFOLIO
• 2023-08-29 Listed for Rent $1,150 APPFOLIO

Property tax history

+2.4%/yr

Latest (2025): $4,047 · -14.6% YoY. Source: county tax records.