6932 35th St · Lubbock, TX 79407

$220,000

3 bd · 2.0 ba · 1,827 sqft · SingleFamily public records · 107 Days on market

Built 2008 8,580 sqft lot $120/sqft · 12% below area Est $249k · 12% under ↓ 6% since listing

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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 +12.7/15.0
• Cash flow +8.3/30.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your next home in the desirable Milwaukee Ridge neighborhood of Lubbock! This 3-bed, 2-bath single family residence boasts 1,827 sq ft of thoughtfully designed living space on a generous 8,700 + sq ft lot. Step inside to find a bright and inviting floor plan anchored by a spacious living room with a cozy wood-burning fireplace perfect for relaxing evenings or entertaining guests. The heart of the home features a well-appointed kitchen with ample storage, walk-in pantry, and convenient built-in appliances. The primary suite offers privacy and comfort, complete with generous closet space, while two additional bedrooms provide flexibility for family, guests, or a home office. Tile and carpet flooring throughout adds both style and comfort, and ceiling fans keep the home cool year-round. Outside, enjoy a covered patio overlooking a fenced backyard perfect for outdoor gatherings, gardening, or play. An attached 2-car garage offers plenty of storage and parking. Located near parks, community amenities, and top-rated Frenship ISD schools, this home combines comfort, convenience, and value in one of Lubbock's established neighborhoods.

Key facts

• 8,580 sq ft lot
• Garage
• Built 2008

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-203 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (18.1% below list).
• Recommended offer: $180k (18.1% 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-, schools D+, 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.
• Market conditions: Rents soft (-0.1%/yr); 610 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• This rent runs 35% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 107 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $180,176 (18.1% 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. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.82% ✗
• Cap rate: 5.18%
• Cash-on-cash: -3.96%
• DSCR: 0.82
• GRM: 10.2

CMA / ARV

• ARV (median comp): $248,704
• List price: $220,000
• Delta: -11.54%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.6%
• Equity multiple: 0.13×
• Total profit: $-53,775
• Equity at exit: $32,803

10-year hold

• IRR: -40.2%
• Equity multiple: -0.36×
• Total profit: $-83,516
• Equity at exit: $19,022

Cash invested: $61,600 (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 79407

• Home prices YoY: -16.3%
• Rents YoY: -0.1%
• Active inventory: 610
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,802 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$381 /mo · $4,574/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-203

Break-even live

Break-even rent $2,059

Max offer price $184,116

Occupancy floor —

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3701 Rochester Ave Lubbock, TX	4.0	2.0	2054	$1,750	$0.85	43d	1	0.18mi
3414 Tiffin Ave Lubbock, TX	3.0	2.0	1550	$1,799	$1.16	13d	1	0.23mi
7222 35th St Lubbock, TX	3.0	2.0	1450	$1,935	$1.33	43d	1	0.33mi
7022 40th St Unit A Lubbock, TX	3.0	2.0	1500	$1,600	$1.07	43d	1	0.33mi
7024 40th St Unit A Lubbock, TX	3.0	2.0	1500	$1,600	$1.07	43d	1	0.33mi
3518 Turner Ave Lubbock, TX	3.0	2.0	1450	$2,199	$1.52	43d	1	0.35mi
7036 41st St Lubbock, TX	3.0	2.0	1608	$1,895	$1.18	21d	1	0.37mi
2625 Tiffin Ave Lubbock, TX	3.0	2.0	1552	$1,800	$1.16	43d	1	0.50mi
2801 Trenton Ave Unit LO Lubbock, TX	3.0	2.0	1722	$1,799	$1.04	21d	1	0.53mi
2612 Tiffin Ave Lubbock, TX	3.0	2.0	1600	$1,775	$1.11	13d	1	0.57mi
2911 Urbana Pl Lubbock, TX	3.0	2.0	1452	$1,800	$1.24	21d	1	0.62mi
7413 35th St Lubbock, TX	3.0	2.0	1247	$1,475	$1.18	21d	1	0.64mi
7420 35th St Lubbock, TX	3.0	2.0	1247	$1,500	$1.20	43d	1	0.68mi
7216 24th St Lubbock, TX	3.0	2.0	1732	$1,700	$0.98	43d	1	0.78mi
6306 28th St Lubbock, TX	3.0	1.0	1325	$1,200	$0.91	43d	1	0.98mi
6927 20th St Lubbock, TX	3.0	2.0	1611	$1,599	$0.99	21d	1	0.98mi
5014 Quincy Ave Lubbock, TX	4.0	3.0	2223	$2,800	$1.26	21d	1	1.01mi
7541 33rd St Lubbock, TX	3.0	2.0	1296	$1,500	$1.16	21d	1	1.06mi
6110 36th St Unit 7 Lubbock, TX	2.0	1.5	1636	$1,100	$0.67	21d	1	1.09mi
6040 24th St Lubbock, TX	3.0	3.0	1795	$1,799	$1.00	21d	1	1.40mi
6040 24th St Apt 25 Lubbock, TX	3.0	2.5	1795	$1,700	$0.95	21d	1	1.40mi
6040 24th St Apt 25 Lubbock, TX	3.0	3.5	1795	$1,700	$0.95	43d	1	1.40mi
6040 24th St Lubbock, TX	3.0	3.5	1795	$1,650	$0.92	43d	1	1.40mi
6040 24th St Unit 16 Lubbock, TX	3.0	3.5	1600	$1,699	$1.06	13d	1	1.40mi
6040 24th St Unit 17 Lubbock, TX	3.0	2.0	1700	$1,729	$1.02	21d	1	1.43mi
6040 24th St Unit 17 Lubbock, TX	3.0	3.5	1700	$1,729	$1.02	43d	1	1.43mi
6040 24th St Unit 33 Lubbock, TX	3.0	3.5	1795	$1,600	$0.89	21d	1	1.43mi
6040 24th St Unit 8 Lubbock, TX	3.0	3.5	1699	$1,600	$0.94	43d	1	1.43mi
1409 Quincy Ave Lubbock, TX	3.0	2.0	1553	$2,800	$1.80	21d	1	1.43mi
7105 14th St Lubbock, TX	4.0	2.0	1600	$1,950	$1.22	21d	1	1.47mi

Listing history 24 events

1. 2026-06-18
   days on market $220,000 Active 107 DOM
2. 2026-06-17
   days on market $220,000 Active 106 DOM
3. 2026-06-16
   days on market $220,000 Active 105 DOM
4. 2026-06-15
   days on market $220,000 Active 104 DOM
5. 2026-06-13
   days on market $220,000 Active 101 DOM
6. 2026-06-10
   days on market $220,000 Active 99 DOM
7. 2026-06-09
   days on market $220,000 Active 98 DOM
8. 2026-06-08
   days on market $220,000 Active 97 DOM
9. 2026-06-07
   days on market $220,000 Active 96 DOM
10. 2026-06-05
    days on market $220,000 Active 93 DOM
11. 2026-06-03
    days on market $220,000 Active 92 DOM
12. 2026-06-02
    days on market $220,000 Active 91 DOM
13. 2026-06-01
    days on market $220,000 Active 90 DOM
14. 2026-05-31
    days on market $220,000 Active 89 DOM
15. 2026-05-30
    days on market $220,000 Active 88 DOM
16. 2026-04-27
    price $220,000 1156-char remark

    Show marketing remark (1156 chars)

    Welcome to your next home in the desirable Milwaukee Ridge neighborhood of Lubbock! This 3-bed, 2-bath single family residence boasts 1,827 sq ft of thoughtfully designed living space on a generous 8,700 + sq ft lot. Step inside to find a bright and inviting floor plan anchored by a spacious living room with a cozy wood-burning fireplace perfect for relaxing evenings or entertaining guests. The heart of the home features a well-appointed kitchen with ample storage, walk-in pantry, and convenient built-in appliances. The primary suite offers privacy and comfort, complete with generous closet space, while two additional bedrooms provide flexibility for family, guests, or a home office. Tile and carpet flooring throughout adds both style and comfort, and ceiling fans keep the home cool year-round. Outside, enjoy a covered patio overlooking a fenced backyard perfect for outdoor gatherings, gardening, or play. An attached 2-car garage offers plenty of storage and parking. Located near parks, community amenities, and top-rated Frenship ISD schools, this home combines comfort, convenience, and value in one of Lubbock's established neighborhoods.

17. 2026-04-13
    price $225,000 1156-char remark

    Show marketing remark (1156 chars)

    Welcome to your next home in the desirable Milwaukee Ridge neighborhood of Lubbock! This 3-bed, 2-bath single family residence boasts 1,827 sq ft of thoughtfully designed living space on a generous 8,700 + sq ft lot. Step inside to find a bright and inviting floor plan anchored by a spacious living room with a cozy wood-burning fireplace perfect for relaxing evenings or entertaining guests. The heart of the home features a well-appointed kitchen with ample storage, walk-in pantry, and convenient built-in appliances. The primary suite offers privacy and comfort, complete with generous closet space, while two additional bedrooms provide flexibility for family, guests, or a home office. Tile and carpet flooring throughout adds both style and comfort, and ceiling fans keep the home cool year-round. Outside, enjoy a covered patio overlooking a fenced backyard perfect for outdoor gatherings, gardening, or play. An attached 2-car garage offers plenty of storage and parking. Located near parks, community amenities, and top-rated Frenship ISD schools, this home combines comfort, convenience, and value in one of Lubbock's established neighborhoods.

18. 2026-03-23
    price $235,000 1156-char remark

    Show marketing remark (1156 chars)

    Welcome to your next home in the desirable Milwaukee Ridge neighborhood of Lubbock! This 3-bed, 2-bath single family residence boasts 1,827 sq ft of thoughtfully designed living space on a generous 8,700 + sq ft lot. Step inside to find a bright and inviting floor plan anchored by a spacious living room with a cozy wood-burning fireplace perfect for relaxing evenings or entertaining guests. The heart of the home features a well-appointed kitchen with ample storage, walk-in pantry, and convenient built-in appliances. The primary suite offers privacy and comfort, complete with generous closet space, while two additional bedrooms provide flexibility for family, guests, or a home office. Tile and carpet flooring throughout adds both style and comfort, and ceiling fans keep the home cool year-round. Outside, enjoy a covered patio overlooking a fenced backyard perfect for outdoor gatherings, gardening, or play. An attached 2-car garage offers plenty of storage and parking. Located near parks, community amenities, and top-rated Frenship ISD schools, this home combines comfort, convenience, and value in one of Lubbock's established neighborhoods.

19. 2026-03-03
    listed $245,000 Active 1156-char remark

    Show marketing remark (1156 chars)

    Welcome to your next home in the desirable Milwaukee Ridge neighborhood of Lubbock! This 3-bed, 2-bath single family residence boasts 1,827 sq ft of thoughtfully designed living space on a generous 8,700 + sq ft lot. Step inside to find a bright and inviting floor plan anchored by a spacious living room with a cozy wood-burning fireplace perfect for relaxing evenings or entertaining guests. The heart of the home features a well-appointed kitchen with ample storage, walk-in pantry, and convenient built-in appliances. The primary suite offers privacy and comfort, complete with generous closet space, while two additional bedrooms provide flexibility for family, guests, or a home office. Tile and carpet flooring throughout adds both style and comfort, and ceiling fans keep the home cool year-round. Outside, enjoy a covered patio overlooking a fenced backyard perfect for outdoor gatherings, gardening, or play. An attached 2-car garage offers plenty of storage and parking. Located near parks, community amenities, and top-rated Frenship ISD schools, this home combines comfort, convenience, and value in one of Lubbock's established neighborhoods.

20. 2022-12-28
    soldstatus Closed 151-char remark

    Show marketing remark (151 chars)

    Great investment property! This 3/2/2 is updated with new carpet, new appliances & fresh paint throughout! Currently leased through May of 2023.

21. 2022-12-28
    soldstatus

    Show marketing remark (151 chars)

    Great investment property! This 3/2/2 is updated with new carpet, new appliances & fresh paint throughout! Currently leased through May of 2023.

22. 2022-11-23
    status Pending 151-char remark

    Show marketing remark (151 chars)

    Great investment property! This 3/2/2 is updated with new carpet, new appliances & fresh paint throughout! Currently leased through May of 2023.

23. 2022-11-04
    listed $235,000 Active 151-char remark

    Show marketing remark (151 chars)

    Great investment property! This 3/2/2 is updated with new carpet, new appliances & fresh paint throughout! Currently leased through May of 2023.

24. 2013-05-03
    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: $4,574 · $381/mo
• Projected year-2 tax: $4,574 · $381/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $21,621
• − Mortgage interest: −$12,323
• − Property taxes: −$4,574
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,730
• − Management: −$1,730
• − Depreciation: −$6,400
• Taxable loss: −$6,235
• Est. tax savings @ 24.0%: +$1,497
• After-tax cash flow: $-941/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): 24,000
• Household income: $61,509
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1914.0

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 0.56)
• Race & ethnicity: White 58% Hispanic / Latino 31% Two or more races 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 1% Chinese 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: ▼ -44.87%
• Current HPI: 229.9895
• Rent YoY: ▼ -0.07%
• 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

-6.4% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $220,000 LARMLS
• 2026-04-13 Price Changed $225,000 LARMLS
• 2026-03-23 Price Changed $235,000 LARMLS
• 2026-03-03 Listed $245,000 LARMLS
• 2022-12-28 Sold (Public Records) — Public Records
• 2022-12-28 Sold (MLS) — LARMLS
• 2022-11-23 Pending — LARMLS
• 2022-11-04 Listed $235,000 LARMLS
• 2013-05-03 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $4,574 · -0.7% YoY. Source: county tax records.