2410 33rd St · Lubbock, TX 79411

$230,000

6 bd · 4.0 ba · 2,291 sqft · MultiFamily public records · 17 Days on market

Built 1964 9,450 sqft lot

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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).

• Cash flow +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.7/10.0
• 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: 2 units. confirmed

Listing remarks

Discover the perfect addition to your rental portfolio with this well-maintained duplex offering a combined 2,291 sq ft of comfortable living space. Each side features 2 bedrooms and 1 full bath, providing desirable layouts for long-term tenants. Both units are currently leased, generating immediate and stable rental income--ideal for seasoned investors or first-time buyers looking to enter the multi-family market. This duplex is a rare find for anyone seeking dependable returns and minimal vacancy concerns. Don't miss this opportunity to secure a solid income-producing property!

Key facts

• 9,450 sq ft lot
• Garage
• Built 1964

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Attached garage (1 garage space); Driveway parking; Off-street paved parking
• Security:
• Utilities: Public water; Public sewer
• Home design: Residential income property — duplex
• Construction: Brick veneer exterior; Composition roof; Slab foundation; Built area approximately 2,291 above-grade finished square feet
• Exterior features: Fenced backyard; Front yard; Asphalt road frontage on a city street; Publicly maintained road

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Dual-unit cooling with separate meters; Ceiling fans
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive. Per door: $67/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (3.3% below list).
• Recommended offer: $222k (3.3% 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.
• 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: Brown El Gr Pk To 01 (188 students, 94% FRL); Slaton Middle (math 13% / reading 16%, grade F, #1,583 of 1,662 statewide, top 96%, 355 students, 96% FRL); Monterey H S (math 28% / reading 37%, grade F, #1,029 of 1,632 statewide, top 64%, 2,114 students, 72% FRL) — zoned schools average 87% FRL vs 60% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Lubbock ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 97 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $2,224/mo this rent would consume 56% of the median local household income ($48k/yr) (locally 777% 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 $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

• It's been on market 17 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,400 (3.3% below list)

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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.52×
• Total profit: $-31,171
• Equity at exit: $34,294

10-year hold

• IRR: -6.6%
• Equity multiple: 0.60×
• Total profit: $-25,951
• Equity at exit: $19,886

Cash invested: $64,400 (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 79411

• Home prices YoY: -10.5%
• Rents YoY: 1.9%
• Active inventory: 97
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $2,224 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$321 /mo · $3,850/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $134

Break-even live

Break-even rent $2,054

Max offer price $230,000

Occupancy floor 89%

Sensitivity live

Price	-10% $264	-5% $199	+0% $134	+5% $69	+10% $4
Rent	-10% $-42	-5% $46	+0% $134	+5% $222	+10% $310
Rate	-1.0pp $250	-0.5pp $193	base $134	+0.5pp $75	+1.0pp $14

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$2,224
Total (2 units)			$2,224

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2629 22nd St Lubbock, TX	5.0	2.0	2218	$1,399	$0.63	45d	1	0.76mi
2703 54th St Lubbock, TX	5.0	2.0	2116	$2,000	$0.95	45d	1	1.44mi

Listing history 22 events

1. 2026-06-22
   days on market $230,000 Active 17 DOM
2. 2026-06-18
   days on market $230,000 Active 14 DOM
3. 2026-06-17
   days on market $230,000 Active 13 DOM
4. 2026-06-16
   days on market $230,000 Active 12 DOM
5. 2026-06-15
   days on market $230,000 Active 11 DOM
6. 2026-06-14
   days on market $230,000 Active 9 DOM
7. 2026-06-13
   days on market $230,000 Active 8 DOM
8. 2026-06-10
   days on market $230,000 Active 6 DOM
9. 2026-06-09
   days on market $230,000 Active 5 DOM
10. 2026-06-08
    days on market $230,000 Active 4 DOM
11. 2026-06-07
    days on market $230,000 Active 3 DOM
12. 2026-06-05
    remarks 586-char remark
13. 2026-06-05
    pricedays on marketlisting id $230,000 Active 1 DOM
14. 2026-06-03
    days on market $245,000 Active 173 DOM
15. 2026-06-02
    days on market $245,000 Active 172 DOM
16. 2026-06-01
    days on market $245,000 Active 171 DOM
17. 2026-05-31
    days on market $245,000 Active 170 DOM
18. 2026-05-30
    days on market $245,000 Active 169 DOM
19. 2025-12-12
    listed $245,000 Active 591-char remark
20. 2023-10-10
    soldstatus
21. 2007-12-14
    soldstatus
22. 1993-10-01
    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: $3,850 · $321/mo
• Projected year-2 tax: $4,209 · $351/mo
• Expected delta: +$359/yr (+$30/mo · 9.3%)

ⓘ 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 7 d/yr ≥99°F today · 21 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: $26,688
• − Mortgage interest: −$12,884
• − Property taxes: −$3,850
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,135
• − Management: −$2,135
• − Depreciation: −$6,691
• Taxable loss: −$2,156
• Est. tax savings @ 24.0%: +$518
• After-tax cash flow: $2,127/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): 6,865
• Household income: $47,634
• Rent vs Own: 72.5% rent · 27.5% own
• Severe rent burden: 777.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 50% White 39% Two or more races 10% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 37% Cuban 2%
• Common ancestry: Slovak 3% Italian 2% Portuguese 2%
• Foreign-born: 8% · Canada
• Languages at home: 64% English-only · Spanish 35%

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: ▼ -24.58%
• Current HPI: 210.495
• Rent YoY: ▲ 1.87%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-06-04 Price Changed $230,000 LARMLS
• 2026-06-04 Listed $230,000 LARMLS
• 2023-10-10 Sold (Public Records) — Public Records
• 2007-12-14 Sold (Public Records) — Public Records
• 1993-10-01 Sold (Public Records) — Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,850 · -14.9% YoY. Source: county tax records.