4930 64th St

Lubbock, TX 79414

$129,000D

2 bd · 2.0 ba · 1,040 sqft · Built 1984 · Townhouse · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,123/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $-14/mo
• Annual: $-166/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• 1% rule: 0.87%
• Cash to close: $36,120

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $129k.
• At list price, monthly cash flow is $-14 ($-166/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (12.9% below list).
• It's been on market 35 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (12.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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: Williams El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 307 students, 76% FRL); Coronado H S (math 34% / reading 38%, grade F, #930 of 1,632 statewide, top 57%, 1,960 students, 66% FRL).
• Market conditions: Rents flat; 91 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.

Questions for listing agent

• 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?
• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.