6502 89th St · Lubbock, TX 79424

$233,000

3 bd · 2.0 ba · 1,839 sqft · SingleFamily public records · 10 Days on market

Built 2006 6,160 sqft lot $127/sqft · 14% below area Est $272k · 14% under

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Why this score? — see what drove the D 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).

• ARV discount +13.9/15.0
• Cash flow +8.1/30.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible price on this Southwest Lubbock Home, featuring 3 Bedrooms, 2 Bathrooms and 2-Car Garage. You'll love the open floor plan, isolated master bedroom, covered patio, large corner lot and so much more! Minutes to Lubbock's most popular shopping, restaurants and entertainment. Frenship Schools and quick access to Brownfield Highway make the neighborhood highly sought after. Don't miss this property. Schedule your appointment today!

Key facts

• Newly built shed
• Open living area
• Ample cabinet space

Tags

• OPEN LIVING AREA
• AMPLE CABINET SPACE
• NEW ROOF
• FRESH INTERIOR PAINT
• PRIVATE RETREAT
• NEWLY BUILT SHED

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces; Garage door opener; Off-street parking; On-street parking; Paved driveway/areas
• Utilities: Public water; Public sewer; Sewer connected; Electricity available; Cable available; Phone available; Underground utilities; Water available
• Home design: Single-family residence; Residential property; City lot; Paved city street frontage; Publicly maintained road
• Construction: Brick construction; Composition roof; Slab foundation; Built on slab
• Exterior features: Private backyard; Awnings; Exterior lighting; Covered rear porch; Shed(s); Wood fencing with gate; Back yard fencing

Interior

• Kitchen: Cooktop; Electric oven; Dishwasher; Microwave; Garbage disposal; Pantry; Eat-in kitchen; Breakfast bar
• Bedrooms: Total rooms: 5
• Flooring: Ceramic tile; Tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Fireplace heating; Central air; Ductless cooling; Ceiling fans; Electric components
• Interior features: Breakfast bar; Built-in features; Ceiling fans; Double vanity; Eat-in kitchen; Open floorplan; Pantry; Recessed lighting; Storage; Walk-in closets; Electric fireplace (1)
• Laundry & utility: Washer hookup (inside, main level); Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $233k.

Deal economics

• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (23.0% below list).
• Recommended offer: $180k (23.0% below list) — sets the bar for 1% rule.

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.
• Frenship ISD (urban): math 47% / reading 54% proficiency, ranked #162 of 826 in TX (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crestview El (math 77% / reading 80%, grade A, #48 of 4,322 statewide, top 1%, 583 students, 29% FRL); Heritage Middle (math 47% / reading 59%, grade C+, #281 of 1,662 statewide, top 18%, 766 students, 42% FRL); Frenship H S (math 44% / reading 65%, grade C-, #379 of 1,632 statewide, top 26%, 3,247 students, 46% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising (+2.8%/yr); 712 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 $2k of loan paydown is wiped out by about $7k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $179,504 (23.0% below list)

Questions for the listing agent

1. 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?
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. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.23%
• DSCR: 0.81
• GRM: 10.8

CMA / ARV

• ARV (median comp): $271,611
• List price: $233,000
• Delta: -14.22%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -23.7%
• Equity multiple: 0.19×
• Total profit: $-52,794
• Equity at exit: $34,741

10-year hold

• IRR: -19.3%
• Equity multiple: -0.02×
• Total profit: $-66,456
• Equity at exit: $20,146

Cash invested: $65,240 (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 79424

• Rents YoY: 2.8%
• Active inventory: 712
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$1,222
• Tax from tax record: −$329 /mo · $3,947/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $-230

Break-even live

Break-even rent $2,086

Max offer price $192,400

Occupancy floor —

Sensitivity live

Price	-10% $-98	-5% $-164	+0% $-230	+5% $-296	+10% $-362
Rent	-10% $-372	-5% $-301	+0% $-230	+5% $-159	+10% $-88
Rate	-1.0pp $-112	-0.5pp $-171	base $-230	+0.5pp $-290	+1.0pp $-352

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: $58,250
• Closing costs: $6,990
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6553 89th St Lubbock, TX	3.0	2.0	1564	$1,575	$1.01	23d	1	0.27mi
6550 85th St Lubbock, TX	3.0	2.0	1711	$1,700	$0.99	23d	1	0.31mi
6717 89th St Lubbock, TX	3.0	2.0	1991	$1,725	$0.87	23d	1	0.40mi
6906 90th St Lubbock, TX	4.0	2.0	2044	$2,695	$1.32	16d	1	0.56mi
9104 Quincy Ave Lubbock, TX	3.0	2.0	1562	$1,750	$1.12	23d	1	0.58mi
9106 Quincy Ave Lubbock, TX	3.0	2.0	1593	$1,750	$1.10	16d	1	0.58mi
9616 Kline Ave Lubbock, TX	3.0	2.0	2198	$2,150	$0.98	46d	1	0.62mi
9305 Quitman Ave Lubbock, TX	3.0	2.0	1560	$1,650	$1.06	23d	1	0.65mi
9309 Quitman Ave Lubbock, TX	3.0	2.0	1577	$1,575	$1.00	23d	1	0.66mi
9304 Remington Ave Lubbock, TX	3.0	2.0	1649	$1,850	$1.12	46d	1	0.72mi
9806 Genoa Ave Lubbock, TX	4.0	2.0	1763	$2,050	$1.16	46d	1	1.01mi
9706 Ross Ave Lubbock, TX	3.0	2.0	1760	$1,895	$1.08	46d	1	1.01mi
9707 Saratoga Ave Unit A Lubbock, TX	3.0	2.0	1350	$1,499	$1.11	23d	1	1.02mi
7051 96th St Unit A Lubbock, TX	3.0	2.0	1500	$1,450	$0.97	16d	1	1.04mi
5731 90th St Lubbock, TX	3.0	2.0	1504	$1,650	$1.10	23d	1	1.04mi
9710 Saratoga Ave Unit B Lubbock, TX	3.0	2.0	1350	$1,450	$1.07	23d	1	1.05mi
9705 Trenton Ave Lubbock, TX	3.0	2.0	1350	$1,499	$1.11	23d	1	1.06mi
6024 74th St Lubbock, TX	4.0	2.0	1997	$1,999	$1.00	46d	1	1.07mi
9709 Trenton Ave Lubbock, TX	3.0	2.0	1350	$1,499	$1.11	46d	1	1.07mi
9711 Trenton Ave Lubbock, TX	3.0	2.0	1267	$1,499	$1.18	46d	1	1.07mi
9702 Trenton Ave Lubbock, TX	3.0	2.0	1350	$1,499	$1.11	46d	1	1.07mi
9712 Trenton Ave Lubbock, TX	3.0	2.0	1350	$1,499	$1.11	23d	1	1.10mi
9716 Trenton Ave Lubbock, TX	3.0	2.0	1300	$1,499	$1.15	46d	1	1.11mi
5706 87th Pl Lubbock, TX	3.0	2.0	1544	$1,550	$1.00	16d	1	1.13mi
5806 78th St Lubbock, TX	3.0	2.0	1985	$1,800	$0.91	46d	1	1.16mi
10903 Norwich Ave Lubbock, TX	3.0–4.0	2.0–3.0	1613	$2,099	$1.30	16d	2	1.19mi
6140 71st St Lubbock, TX	3.0	2.5	1350	$1,550	$1.15	16d	1	1.23mi
5560 93rd St Lubbock, TX	3.0	2.0	1370	$1,395	$1.02	23d	1	1.31mi
5703 80th St Lubbock, TX	3.0	2.0	2133	$2,295	$1.08	46d	1	1.31mi
5545 93rd St Lubbock, TX	3.0	2.0	1370	$1,450	$1.06	46d	1	1.36mi
5513 95th St Lubbock, TX	3.0	2.0	1785	$1,575	$0.88	23d	1	1.49mi
7350 100th St Lubbock, TX	3.0	2.0	1400	$1,650	$1.18	46d	1	1.50mi

Listing history 24 events

1. 2026-06-22
   days on market $233,000 Active 10 DOM
2. 2026-06-18
   days on market $233,000 Active 7 DOM
3. 2026-06-17
   days on market $233,000 Active 6 DOM
4. 2026-06-16
   days on market $233,000 Active 5 DOM
5. 2026-06-15
   days on market $233,000 Active 4 DOM
6. 2026-06-13
   days on marketlisting id $233,000 Active 1 DOM
7. 2026-06-10
   days on market $233,000 Active 34 DOM
8. 2026-06-09
   days on market $233,000 Active 33 DOM
9. 2026-06-08
   days on market $233,000 Active 32 DOM
10. 2026-06-07
    days on market $233,000 Active 31 DOM
11. 2026-06-05
    days on market $233,000 Active 28 DOM
12. 2026-06-03
    days on market $233,000 Active 27 DOM
13. 2026-06-02
    days on market $233,000 Active 26 DOM
14. 2026-06-01
    days on market $233,000 Active 25 DOM
15. 2026-05-31
    days on market $233,000 Active 24 DOM
16. 2026-05-30
    days on market $233,000 Active 23 DOM
17. 2026-05-06
    listed $233,000 Active 978-char remark
18. 2018-11-16
    soldstatus
19. 2018-11-15
    soldstatus 441-char remark

    Show marketing remark (441 chars)

    Incredible price on this Southwest Lubbock Home, featuring 3 Bedrooms, 2 Bathrooms and 2-Car Garage. You'll love the open floor plan, isolated master bedroom, covered patio, large corner lot and so much more! Minutes to Lubbock's most popular shopping, restaurants and entertainment. Frenship Schools and quick access to Brownfield Highway make the neighborhood highly sought after. Don't miss this property. Schedule your appointment today!

20. 2018-08-13
    listed $155,950 441-char remark

    Show marketing remark (441 chars)

    Incredible price on this Southwest Lubbock Home, featuring 3 Bedrooms, 2 Bathrooms and 2-Car Garage. You'll love the open floor plan, isolated master bedroom, covered patio, large corner lot and so much more! Minutes to Lubbock's most popular shopping, restaurants and entertainment. Frenship Schools and quick access to Brownfield Highway make the neighborhood highly sought after. Don't miss this property. Schedule your appointment today!

21. 2014-06-10
    soldstatus
22. 2014-06-09
    soldstatus

    Show marketing remark (467 chars)

    One of Lubbock's most popular floor plans. Located among the fast growing Southwest section of the City. Beautiful entrance to open family room, corner fireplace. Nice kitchen with tiled back splash, wood stained cabinets, breakfast bar, large panty and white appliance package. Isolated master. Impressive master bath with garden tub, separate shower, dressing area with his and her closets! Sprinkler system, established lawn, RV parking all on a larger corner lot!

23. 2014-04-22
    listed $132,500

    Show marketing remark (467 chars)

    One of Lubbock's most popular floor plans. Located among the fast growing Southwest section of the City. Beautiful entrance to open family room, corner fireplace. Nice kitchen with tiled back splash, wood stained cabinets, breakfast bar, large panty and white appliance package. Isolated master. Impressive master bath with garden tub, separate shower, dressing area with his and her closets! Sprinkler system, established lawn, RV parking all on a larger corner lot!

24. 2005-12-12
    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: $3,947 · $329/mo
• Projected year-2 tax: $4,264 · $355/mo
• Expected delta: +$316/yr (+$26/mo · 8.0%)

ⓘ 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 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: $21,540
• − Mortgage interest: −$13,052
• − Property taxes: −$3,947
• − Insurance: −$1,165
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$6,778
• Taxable loss: −$6,848
• Est. tax savings @ 24.0%: +$1,644
• After-tax cash flow: $-1,114/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: Frenship ISD
• NCES district ID: 4819830
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $54,376
• Composite: 43.59/100
• National rank: #2976
• State rank: #162 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): 53,478
• Household income: $97,231
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 1958.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 12% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 8% 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: ▼ -146.64%
• Current HPI: 213.2155
• Rent YoY: ▲ 2.75%
• 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

+75.8% since first listed

8 events — show timeline

• 2026-06-11 Listed $233,000 LARMLS
• 2018-11-16 Sold (Public Records) — Public Records
• 2018-11-15 Sold (MLS) — LARMLS
• 2018-08-13 Listed $155,950 LARMLS
• 2014-06-10 Sold (Public Records) — Public Records
• 2014-06-09 Sold (MLS) — LARMLS
• 2014-04-22 Listed $132,500 LARMLS
• 2005-12-12 Sold (Public Records) — Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,947 · -0.3% YoY. Source: county tax records.