523 39th St · Lubbock, TX 79404

$69,000

2 bd · 1.0 ba · 696 sqft · SingleFamily public records · 44 Days on market

Built 1927 6,625 sqft lot

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Why this score? — see what drove the B- 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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +6.6/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 523 39th St — a solid investment opportunity in an established Central Lubbock neighborhood with a strong rental track record. This property has just completed make-ready and is fully rent-ready, making it easy to place your next tenant quickly. Previously rented at $750/month, this home has a history of leasing consistently and without long vacancy periods, giving investors confidence in its performance. Located in a well-established area known for steady rental demand, this property benefits from convenient access to main roads, shopping, and everyday amenities—making it an attractive option for tenants. For investors, this is about as straightforward as it gets: mi

Key facts

• 6,625 sq ft lot
• Built 1927
• Listed 44 days

Property features AI

Finance

• Other: Details not provided
• Financial info: Annual tax amount: $746
• HOA & community: Details not provided

Exterior

• Parking: Driveway
• Security: Details not provided
• Utilities: Details not provided
• Home design: Single family residence; Residential property; Updated/remodeled condition
• Construction: Built with unknown construction materials; Pillar/post/pier foundation
• Exterior features: None noted; Other exterior features; Composition roof; Paved road access; Publicly maintained road; City street frontage; Lot approximately 0.15 acres

Interior

• Kitchen: Details not provided
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type: Other); Has cooling (type: Other)
• Interior features: Updated/remodeled interior; Other interior features
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $69k).
• Recommended offer: $67k (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-, 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: 91 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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

• In year one you build about $3k of equity ($477 loan paydown + $2k appreciation (3.2% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 4 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 1927 — expect roof / HVAC / electrical / plumbing capex.
• 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 $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.07×
• Total profit: $20,599
• Equity at exit: $31,897

10-year hold

• IRR: 19.7%
• Equity multiple: 3.91×
• Total profit: $56,255
• Equity at exit: $49,846

Cash invested: $19,320 (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 79404

• Home prices YoY: 2.0%
• Active inventory: 91
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $801 high
• Mortgage (P&I): −$362
• Tax from tax record: −$62 /mo · $747/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $180

Break-even live

Break-even rent $573

Max offer price $69,000

Occupancy floor 73%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 38th St Unit B Lubbock, TX	2.0	1.0	660	$550	$0.83	43d	1	0.03mi
332 37th St Unit 2 Lubbock, TX	3.0	1.0	725	$700	$0.97	21d	1	0.22mi
330 37th St Unit 2 Lubbock, TX	3.0	1.0	750	$750	$1.00	13d	1	0.23mi
211 36th St Unit B Lubbock, TX	3.0	1.0	750	$775	$1.03	43d	1	0.32mi
209 36th St Unit A Lubbock, TX	3.0	1.0	750	$750	$1.00	43d	1	0.33mi
1102 42nd St Lubbock, TX	1.0	1.0	574	$495	$0.86	21d	1	0.33mi
4511 Avenue G Unit G Lubbock, TX	1.0	1.0	528	$750	$1.42	13d	1	0.44mi
1107 45th St Unit B Lubbock, TX	2.0	1.0	728	$850	$1.17	43d	1	0.48mi
1119 46th St Unit A Lubbock, TX	2.0	1.0	704	$595	$0.85	21d	1	0.57mi
3104 Avenue N Lubbock, TX	2.0	1.0	750	$785	$1.05	21d	1	0.71mi
1604 45th St Lubbock, TX	1.0	1.0	700	$650	$0.93	43d	1	0.76mi
1610 45th St Unit 14 Lubbock, TX	1.0	1.0	550	$895	$1.63	43d	1	0.78mi
1101 52nd St Apt C Lubbock, TX	2.0	1.0	721	$850	$1.18	21d	1	0.89mi
1710 45th St Unit A Lubbock, TX	2.0	1.0	714	$595	$0.83	13d	1	0.91mi
1707 32nd St Lubbock, TX	1.0	1.0	400	$575	$1.44	43d	1	0.92mi
1608 29th St Unit C Lubbock, TX	1.0	1.0	680	$650	$0.96	43d	1	0.94mi
1608 29th St Unit B Lubbock, TX	2.0	1.5	694	$750	$1.08	13d	1	0.94mi
1608 29th St Unit A Lubbock, TX	1.0	1.0	505	$595	$1.18	13d	1	0.94mi
1718 46th St Lubbock, TX	1.0	1.0	655	$695	$1.06	43d	1	0.98mi
1511 52nd St Lubbock, TX	2.0	1.0	648	$800	$1.23	43d	1	1.02mi
1310 54th St Unit 3 Lubbock, TX	1.0	1.0	684	$575	$0.84	43d	1	1.04mi
2018 45th St Lubbock, TX	1.0	1.0	500	$849	$1.70	21d	1	1.18mi
2604 S 2604 Ave S A Unit 2604 Lubbock, TX	1.0	1.0	572	$625	$1.09	43d	1	1.22mi
2118 33rd St Unit B Lubbock, TX	1.0	1.0	676	$550	$0.81	21d	1	1.23mi
1925 27th St Lubbock, TX	1.0	1.0	392	$550	$1.40	13d	1	1.26mi
1917 26th St Unit B Lubbock, TX	1.0	1.0	550	$725	$1.32	21d	1	1.27mi
1917 26th St Unit B Lubbock, TX	1.0	1.0	550	$735	$1.34	43d	1	1.27mi
2510 Avenue T Lubbock, TX	1.0	1.0	500	$935	$1.87	43d	1	1.34mi
1915 Avenue O Unit O Lubbock, TX	2.0	1.0	732	$750	$1.02	43d	1	1.37mi
1909 23rd St Lubbock, TX	1.0	1.0	500	$600	$1.20	43d	1	1.38mi
2308 33rd St Lubbock, TX	1.0	1.0	696	$850	$1.22	43d	1	1.44mi
2010 Avenue S Lubbock, TX	1.0	1.0	625	$599	$0.96	13d	1	1.49mi
1911 21st St Unit B Lubbock, TX	2.0	1.0	714	$750	$1.05	43d	1	1.49mi

Listing history 27 events

1. 2026-06-18
   days on market $69,000 Active 44 DOM
2. 2026-06-17
   days on market $69,000 Active 43 DOM
3. 2026-06-16
   days on market $69,000 Active 42 DOM
4. 2026-06-15
   days on market $69,000 Active 41 DOM
5. 2026-06-14
   days on market $69,000 Active 39 DOM
6. 2026-06-13
   days on market $69,000 Active 38 DOM
7. 2026-06-10
   days on market $69,000 Active 36 DOM
8. 2026-06-09
   days on market $69,000 Active 35 DOM
9. 2026-06-08
   days on market $69,000 Active 34 DOM
10. 2026-06-07
    days on market $69,000 Active 33 DOM
11. 2026-06-05
    days on market $69,000 Active 30 DOM
12. 2026-06-03
    days on market $69,000 Active 29 DOM
13. 2026-06-02
    days on market $69,000 Active 28 DOM
14. 2026-06-01
    days on market $69,000 Active 27 DOM
15. 2026-05-31
    days on market $69,000 Active 26 DOM
16. 2026-05-30
    days on market $69,000 Active 25 DOM
17. 2026-05-05
    listed $69,000 Active 992-char remark
18. 2025-12-03
    price $69,000
19. 2025-06-19
    historical $800
20. 2025-05-10
    listed $800
21. 2025-02-27
    historical $800
22. 2025-02-15
    listed $800
23. 2024-02-19
    historical $750
24. 2024-01-20
    listed $750
25. 2011-06-02
    soldstatus
26. 1996-05-01
    soldstatus
27. 1985-01-01
    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: $747 · $62/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$516/yr (+$43/mo · 69.1%)

ⓘ 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 ≥100°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: $9,614
• − Mortgage interest: −$3,865
• − Property taxes: −$747
• − Insurance: −$345
• − Repairs & maintenance: −$769
• − Management: −$769
• − Depreciation: −$2,007
• Taxable income: $1,112
• Est. tax owed @ 24.0%: −$267
• After-tax cash flow: $1,894/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): 8,529
• Household income: $51,630
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 366.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 55% Black 22% White 20% Two or more races 17% Native American 2%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Romanian 1% Lithuanian 0%
• Foreign-born: 5% · Canada
• Languages at home: 64% English-only · Spanish 36%

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: ▲ 3.22%
• Current HPI: 163.854
• Rent YoY: —
• 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

+0.0% since first listed

11 events — show timeline

• 2026-05-05 Listed $69,000 LARMLS
• 2025-12-03 Price Changed $69,000 LARMLS
• 2025-06-19 Rental Removed $800 BUILDIUM
• 2025-05-10 Listed for Rent $800 BUILDIUM
• 2025-02-27 Rental Removed $800 BUILDIUM
• 2025-02-15 Listed for Rent $800 BUILDIUM
• 2024-02-19 Rental Removed $750 BUILDIUM
• 2024-01-20 Listed for Rent $750 BUILDIUM
• 2011-06-02 Sold (Public Records) — Public Records
• 1996-05-01 Sold (Public Records) — Public Records
• 1985-01-01 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $747 · +11.1% YoY. Source: county tax records.