918 E Rice St · Lubbock, TX 79403

$94,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 27 Days on market

Built 1951 7,680 sqft lot ↓ 10% since listing

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

Key facts

• New hvac
• New countertops
• New roof

Tags

• NEW ROOF
• NEW SEWER LINE
• NEW HVAC
• NEW KITCHEN CABINETRY
• NEW COUNTERTOPS
• PRISTINE VINYL FLOORING

Property features AI

Exterior

• Parking: No designated parking
• Utilities: Gas water heater
• Home design: Single-family residence; Residential property; Updated/remodeled
• Construction: Built with asbestos construction materials; Slab foundation
• Exterior features: Paved road access; No additional exterior features listed; Composition roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Smart thermostat; Accessible entrance, accessible bedroom, and accessible full bath; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $93k (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-, 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: Ervin El (math 17% / reading 17%, grade F, #3,836 of 4,322 statewide, top 91%, 405 students, 97% FRL, charter); Dunbar College Preparatory Academy (math 16% / reading 20%, grade F, #1,491 of 1,662 statewide, top 91%, 430 students, 97% FRL, charter); Estacado H S (math 26% / reading 29%, grade F, #1,183 of 1,632 statewide, top 73%, 897 students, 90% FRL) — zoned schools average 95% FRL vs 60% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 38% district-wide (-17 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 (+1.5%/yr); 166 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $650 of loan paydown is wiped out by about $3k 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 27 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,590 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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 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: 1.10% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.42%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.52% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-4,981
• Equity at exit: $14,016

10-year hold

• IRR: 2.7%
• Equity multiple: 1.18×
• Total profit: $4,777
• Equity at exit: $8,127

Cash invested: $26,320 (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 79403

• Home prices YoY: -9.0%
• Rents YoY: 1.5%
• Active inventory: 166
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,038 high
• Mortgage (P&I): −$493
• Tax from tax record: −$103 /mo · $1,237/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $185

Break-even live

Break-even rent $804

Max offer price $94,000

Occupancy floor 77%

Sensitivity live

Price	-10% $238	-5% $211	+0% $185	+5% $158	+10% $132
Rent	-10% $103	-5% $144	+0% $185	+5% $226	+10% $267
Rate	-1.0pp $232	-0.5pp $209	base $185	+0.5pp $160	+1.0pp $136

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 E Stanford St Lubbock, TX	3.0	1.0	910	$595	$0.65	22d	1	0.30mi
509 E Queens St Lubbock, TX	3.0	2.0	1090	$1,050	$0.96	45d	1	0.31mi
503 E Rice St Lubbock, TX	3.0	2.0	1103	$1,150	$1.04	22d	1	0.34mi
506 E Municipal Dr Lubbock, TX	3.0	1.0	1065	$900	$0.85	45d	1	0.76mi
924 E Emory St Lubbock, TX	1.0–2.0	1.0–2.0	865	$1,008	$1.17	15d	8	0.90mi
1726 E Dartmouth St Unit B Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	45d	1	1.18mi
1726 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	22d	1	1.18mi
1730 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1015	$695	$0.68	45d	1	1.19mi
1918 E Cornell St Lubbock, TX	3.0	2.0	1028	$1,080	$1.05	22d	1	1.28mi
1711 E 1st St Lubbock, TX	3.0	2.0	1124	$900	$0.80	22d	1	1.43mi
2608 E Colgate St Lubbock, TX	3.0	1.0	990	$900	$0.91	45d	1	1.43mi

Listing history 29 events

1. 2026-06-22
   days on market $94,000 Active 27 DOM
2. 2026-06-18
   days on market $94,000 Active 24 DOM
3. 2026-06-17
   days on market $94,000 Active 23 DOM
4. 2026-06-16
   days on market $94,000 Active 22 DOM
5. 2026-06-15
   days on market $94,000 Active 21 DOM
6. 2026-06-14
   days on market $94,000 Active 19 DOM
7. 2026-06-13
   days on market $94,000 Active 18 DOM
8. 2026-06-10
   days on market $94,000 Active 16 DOM
9. 2026-06-09
   days on market $94,000 Active 15 DOM
10. 2026-06-08
    days on market $94,000 Active 14 DOM
11. 2026-06-07
    days on market $94,000 Active 13 DOM
12. 2026-06-05
    days on market $94,000 Active 10 DOM
13. 2026-06-03
    days on market $94,000 Active 9 DOM
14. 2026-06-02
    days on market $94,000 Active 8 DOM
15. 2026-06-01
    days on market $94,000 Active 7 DOM
16. 2026-05-31
    days on market $94,000 Active 6 DOM
17. 2026-05-30
    days on market $94,000 Active 5 DOM
18. 2026-05-25
    listed $94,000 Active
19. 2024-08-05
    soldstatus
20. 2024-08-04
    soldstatus Closed 469-char remark

    Show marketing remark (469 chars)

    Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

21. 2024-07-16
    soldstatus

    Show marketing remark (469 chars)

    Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

22. 2024-07-16
    status Pending 469-char remark

    Show marketing remark (469 chars)

    Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

23. 2024-07-11
    soldstatus
24. 2024-05-31
    price $95,000 469-char remark

    Show marketing remark (469 chars)

    Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

25. 2024-03-29
    price $99,000 469-char remark

    Show marketing remark (469 chars)

    Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

26. 2024-03-16
    listed $105,000 Active 469-char remark

    Show marketing remark (469 chars)

    Currently rented for $1100 monthly! Newly updated and affordably priced, this charming home features a brand-new roof along with a plethora of fresh cosmetic enhancements. Featuring new kitchen cabinetry adorned with new countertops and backsplash. Enjoy the pristine vinyl flooring and carpets, untouched and ready for your first steps. Illuminated with new lighting fixtures, complemented by updated matching hardware. This house comes with energy-efficient windows.

27. 2024-01-16
    soldstatus
28. 2004-10-01
    soldstatus
29. 1995-03-01
    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: $1,237 · $103/mo
• Projected year-2 tax: $1,720 · $143/mo
• Expected delta: +$483/yr (+$40/mo · 39.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,455
• − Mortgage interest: −$5,265
• − Property taxes: −$1,237
• − Insurance: −$470
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$2,735
• Taxable income: $755
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $2,036/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): 16,089
• Household income: $47,907
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 612.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 26% Black 23% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 74% English-only · Spanish 25%

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: ▼ -17.69%
• Current HPI: 178.9297
• Rent YoY: ▲ 1.52%
• 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

-10.5% since first listed

12 events — show timeline

• 2026-05-25 Listed $94,000 LARMLS
• 2024-08-05 Sold (Public Records) — Public Records
• 2024-08-04 Sold (MLS) — LARMLS
• 2024-07-16 Sold (Public Records) — Public Records
• 2024-07-16 Pending — LARMLS
• 2024-07-11 Sold (Public Records) — Public Records
• 2024-05-31 Price Changed $95,000 LARMLS
• 2024-03-29 Price Changed $99,000 LARMLS
• 2024-03-16 Listed $105,000 LARMLS
• 2024-01-16 Sold (Public Records) — Public Records
• 2004-10-01 Sold (Public Records) — Public Records
• 1995-03-01 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,237 · +28.3% YoY. Source: county tax records.