6217 24th St · Lubbock, TX 79407

$109,950

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 37 Days on market

Built 1984 Average condition 7,200 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Imagine yourself in this two-bedroom, one-bath bungalow on the West side of Lubbock in the Frenship school district. This updated home with tile/vinyl flooring is ready for a new owner. It sits on a generous lot and has a fenced-in backyard and a large tree in the front, which shades the home. The bathroom is beautifully renovated, and the large kitchen/dining area provides a cozy spot to create meals and community. Spread out in the spacious living area, a great place to host friends on game days! This home will check off many of the boxes for you! The owner will actively seek out a renter and has another home like this for sale next door, 6219 24th St. (off market). Contact a local Lubb

Key facts

• 7,200 sq ft lot
• Built 1984
• Listed 37 days

Property features AI

Finance

• HOA & community: Curbs, sidewalks, street lights, and nearby park

Exterior

• Parking: Additional parking; Concrete driveway; Off-street parking; On-street parking; Parking pad
• Utilities: Public water; Public sewer; Electricity connected; Natural gas available; Cable available; Sewer connected
• Home design: Single family residence; Updated/remodeled; 1 story; Slab foundation
• Construction: Masonite exterior
• Exterior features: Private yard; Garden; Side porch; Fenced with wood fencing; Composition roof

Interior

• Kitchen: Range / Electric cooktop / Electric range / Free‑standing electric range; Refrigerator; Range hood; Electric water heater
• Bedrooms: Total rooms: 5
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless heating and cooling; Electric heating; Zoned heating; Ceiling fans; Wall/window air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen; Smart thermostat; Walk-in closet(s); Blinds; Wood window frames
• Laundry & utility: Washer hookup inside (main level, in kitchen); Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% 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.
• 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: Westwind El (math 34% / reading 37%, grade F, #1,946 of 4,322 statewide, top 45%, 601 students, 71% FRL); Heritage Middle (math 47% / reading 59%, grade C+, #281 of 1,662 statewide, top 18%, 766 students, 42% FRL) — zoned schools average 57% FRL vs 36% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 610 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% 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 $760 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 37 days — a 3% lower offer ($107k) 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 $106,651 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.06% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.9%
• Equity multiple: 0.72×
• Total profit: $-8,662
• Equity at exit: $16,394

10-year hold

• IRR: -2.5%
• Equity multiple: 0.85×
• Total profit: $-4,537
• Equity at exit: $9,506

Cash invested: $30,786 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,160 high
• Mortgage (P&I): −$577
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $197

Break-even live

Break-even rent $910

Max offer price $109,950

Occupancy floor 78%

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: $27,488
• Closing costs: $3,298
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6223 24th St Unit Labs Lubbock, TX	2.0	1.0	884	$1,150	$1.30	43d	1	0.04mi
2104 La Salle Ave Lubbock, TX	1.0–2.0	1.0–2.0	741	$1,250	$1.69	43d	1	0.31mi
2001 Milwaukee Ave Lubbock, TX	1.0	1.0	698	$975	$1.40	43d	1	0.35mi
2102 W Loop 289 Lubbock, TX	1.0–2.0	1.0–1.5	702	$890	$1.27	43d	1	0.36mi
6333 29th St Lubbock, TX	3.0	2.0	1051	$1,350	$1.28	13d	1	0.36mi
6509 21st St Unit B Lubbock, TX	2.0	1.5	1044	$925	$0.89	43d	1	0.43mi
6801 19th St Unit 179 Lubbock, TX	3.0	2.0	1008	$1,100	$1.09	43d	1	0.64mi
2702 Frankford Ave Lubbock, TX	2.0	1.0	940	$888	$0.94	43d	1	0.67mi
3201 W Loop 289 Lubbock, TX	1.0–2.0	1.0–2.0	771	$1,095	$1.42	43d	1	0.78mi
6108 37th St Unit B Lubbock, TX	2.0	1.5	894	$799	$0.89	43d	1	0.81mi
6104 37th St Unit A Lubbock, TX	2.0	1.5	950	$780	$0.82	43d	1	0.81mi
5818 8th St Lubbock, TX	2.0	2.0	1000	$995	$0.99	43d	1	1.30mi
5863 6th St Lubbock, TX	3.0	2.0	1116	$1,325	$1.19	21d	1	1.36mi
7324 26th St Lubbock, TX	2.0	1.0	936	$850	$0.91	43d	1	1.43mi

Listing history 18 events

1. 2026-06-18
   days on market $109,950 Active 37 DOM
2. 2026-06-17
   days on market $109,950 Active 36 DOM
3. 2026-06-16
   days on market $109,950 Active 35 DOM
4. 2026-06-15
   days on market $109,950 Active 34 DOM
5. 2026-06-13
   days on market $109,950 Active 31 DOM
6. 2026-06-10
   days on market $109,950 Active 29 DOM
7. 2026-06-09
   days on market $109,950 Active 28 DOM
8. 2026-06-08
   days on market $109,950 Active 27 DOM
9. 2026-06-07
   days on market $109,950 Active 26 DOM
10. 2026-06-05
    days on market $109,950 Active 23 DOM
11. 2026-06-03
    days on market $109,950 Active 22 DOM
12. 2026-06-02
    days on market $109,950 Active 21 DOM
13. 2026-06-01
    days on market $109,950 Active 20 DOM
14. 2026-05-31
    days on market $109,950 Active 19 DOM
15. 2026-05-30
    days on market $109,950 Active 18 DOM
16. 2026-05-22
    price $109,950
17. 2026-05-11
    listed $114,950 Active
18. 2026-01-13
    soldstatus $466,745

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $2,012 · $168/mo
• Expected delta: +$850/yr (+$71/mo · 73.1%)

ⓘ 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 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: $13,922
• − Mortgage interest: −$6,159
• − Property taxes: −$1,163
• − Insurance: −$550
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$3,199
• Taxable income: $624
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $2,217/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This updated bungalow is in average condition with some cosmetic improvements needed. It offers a good starting point for a potential buyer or renter.

Repairs flagged

• Minor Paint touch-ups — Minor scuff marks on walls
• Minor Landscaping — Overgrown grass in yard

Value-add opportunities

• Both Painting and touch-ups — Enhances curb appeal and interior aesthetics
• Both Landscaping — Improves curb appeal and enhances property value
• Rental HVAC maintenance — Ensures comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint touch-ups · Minor scuff marks on walls	Minor	$500–3,000
Landscaping · Overgrown grass in yard	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting and touch-ups — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑
• Rental HVAC maintenance — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-76.4% since first listed

3 events — show timeline

• 2026-05-22 Price Changed $109,950 LARMLS
• 2026-05-11 Listed $114,950 LARMLS
• 2026-01-13 Sold (Public Records) $466,745 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,163 · +8.7% YoY. Source: county tax records.