1708 18th St · Lubbock, TX 79401

$299,000

144 bd · 144.0 ba · 4,750 sqft · MultiFamily public records · 16 Days on market

Built 1944 9,735 sqft lot

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Value add multi-family 12 unit property. There are 4 buildings in this package. This South Overton gem is located just minutes from Texas Tech University and the medical district. Walking distance to various restaurants and parks. 1708 Front - 4 units. 1708 2 Units. 1712 Front 4 units. 1712 Rear 2 units. Each unit has its own electric meter. Water is metered together. Nearby apartments are being marketed for rent between $600-$700 a month. Seller is looking at all offers on Friday June 12th.

Key facts

• Own electric meter
• 9,735 sq ft lot
• Built 1944

Tags

• MULTI-FAMILY PROPERTY
• WALKING DISTANCE TO PARKS
• OWN ELECTRIC METER

Property features AI

Finance

• Other: Lot is approximately 0.22 acres; Additional parcel included: 1712 18th St. (next door); Zoned for multi-family

Exterior

• Parking: Other parking type
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Residential income property (multi-family); Fixer condition; 2 stories; Facing direction not specified; Entry level not specified
• Construction: Brick construction; Composition roof; Other foundation
• Exterior features: Chain link fencing; No additional exterior features listed

Interior

• Flooring: Tile
• Bathrooms: 12 full bathrooms
• Heating & cooling: Electric heating; Wall/window AC units; Multiple cooling units
• Interior features: Electric water heater; Tile flooring

What this means for you Summary

Snapshot

• This is a 12 × 1-bed/1-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $5k ($63k/yr) — positive. Per door: $441/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $299k).
• Recommended offer: $295k (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-, schools D+, 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.
• Market conditions: Rents rising fast (+8.3%/yr); 33 active listings in the ZIP; lower-income renter base — watch delinquency; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $9,261/mo this rent would consume 412% of the median local household income ($27k/yr) (locally 1389% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (6.7% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,515 (1.5% 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 1944 — 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. 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.
8. 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.
9. 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: 3.10% ✓
• Cap rate: 27.53%
• Cash-on-cash: 75.83%
• DSCR: 4.37
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.7% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 88.1%
• Equity multiple: 6.79×
• Total profit: $484,996
• Equity at exit: $201,417

10-year hold

• IRR: 86.6%
• Equity multiple: 16.31×
• Total profit: $1,281,596
• Equity at exit: $377,476

Cash invested: $83,720 (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 79401

• Home prices YoY: 3.0%
• Rents YoY: 8.3%
• Active inventory: 33
• Price-to-rent: 32.3×

Monthly cashflow live

• Estimated rent: $9,261 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$333 /mo · $3,995/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,945
• Net cashflow: $5,291

Break-even live

Break-even rent $2,564

Max offer price $299,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$9,264
Total (12 units)			$9,261

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $299,000 Active 16 DOM
2. 2026-06-17
   days on market $299,000 Active 15 DOM
3. 2026-06-16
   days on market $299,000 Active 14 DOM
4. 2026-06-15
   days on market $299,000 Active 13 DOM
5. 2026-06-14
   days on market $299,000 Active 11 DOM
6. 2026-06-13
   days on market $299,000 Active 10 DOM
7. 2026-06-10
   days on market $299,000 Active 8 DOM
8. 2026-06-09
   days on market $299,000 Active 7 DOM
9. 2026-06-08
   days on market $299,000 Active 6 DOM
10. 2026-06-07
    days on market $299,000 Active 5 DOM
11. 2026-06-05
    days on market $299,000 Active 2 DOM
12. 2026-06-03
    remarks 496-char remark
13. 2026-06-03
    listed $299,000 Active 1 DOM

ⓘ 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: $3,995 · $333/mo
• Projected year-2 tax: $5,472 · $456/mo
• Expected delta: +$1,476/yr (+$123/mo · 36.9%)

ⓘ 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 ≥100°F today · 22 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: $111,132
• − Mortgage interest: −$16,749
• − Property taxes: −$3,995
• − Insurance: −$1,495
• − Repairs & maintenance: −$8,891
• − Management: −$8,891
• − Depreciation: −$8,698
• Taxable income: $62,414
• Est. tax owed @ 24.0%: −$14,979
• After-tax cash flow: $48,509/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): 8,741
• Household income: $26,980
• Rent vs Own: 91.1% rent · 8.9% own
• Severe rent burden: 1389.0

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: White 47% Hispanic / Latino 37% Two or more races 14% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 3% Romanian 1% Iranian 1%
• Foreign-born: 11% · Canada, South Korea, Jamaica
• Languages at home: 73% English-only · Spanish 20% Other Indo-European 3% Korean 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: ▲ 6.70%
• Current HPI: 233.4915
• Rent YoY: ▲ 8.31%
• 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

2 events — show timeline

• 2026-06-02 Listed $299,000 LARMLS
• 1990-09-01 Sold (Public Records) — Public Records

Property tax history

+9.2%/yr

Latest (2025): $3,995 · -2.6% YoY. Source: county tax records.