7920 Albany Ave · Lubbock, TX 79424

$310,000

6 bd · 5.0 ba · 3,201 sqft · MultiFamily public records · 45 Days on market

Built 1979 10,370 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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Large duplex in South Lubbock located in Farrar Estates! Side A features 3 bedrooms, 2 bathrooms, and a 2-car garage. Side B offers 3 bedrooms, 2.5 bathrooms, 2-car garage plus an office, perfect for extra space or working from home. The property has a newer roof, and Side B is move-in ready with fresh interior paint and brand-new carpet. Don't miss this great investment opportunity or owner-occupant option!

Key facts

• Office space
• Newer roof
• Fresh interior paint

Tags

• NEWER ROOF
• FRESH INTERIOR PAINT
• BRAND-NEW CARPET
• OFFICE SPACE

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/2.5-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive. Per door: $174/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $301k (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: Rents rising (+2.8%/yr); 705 active listings in the ZIP; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• This rent runs 40% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 45 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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

• 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 $300,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.04% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-28,780
• Equity at exit: $46,222

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $534
• Equity at exit: $26,803

Cash invested: $86,800 (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 79424

• Rents YoY: 2.8%
• Active inventory: 705
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $3,226 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$445 /mo · $5,346/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $348

Break-even live

Break-even rent $2,785

Max offer price $310,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	2.5	$3,226
Total (2 units)			$3,226

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-01
   status $310,000 Pending 45 DOM
2. 2026-05-31
   days on market $310,000 Active 45 DOM
3. 2026-05-30
   days on market $310,000 Active 44 DOM
4. 2026-04-16
   listed $310,000 Active 412-char remark

   Show marketing remark (412 chars)

   Large duplex in South Lubbock located in Farrar Estates! Side A features 3 bedrooms, 2 bathrooms, and a 2-car garage. Side B offers 3 bedrooms, 2.5 bathrooms, 2-car garage plus an office, perfect for extra space or working from home. The property has a newer roof, and Side B is move-in ready with fresh interior paint and brand-new carpet. Don't miss this great investment opportunity or owner-occupant option!

5. 2019-01-17
   soldstatus
6. 2019-01-16
   soldstatus 529-char remark

   Show marketing remark (529 chars)

   Don't miss this duplex opportunity with a great location! This well maintained property offers 3 bedrooms with office or extra bedroom on side B with 2.5 baths and 3 bedrooms 2 bath on side A. Very little yard maintenance with a full concrete lot. 2 car garage included for both units. Hard to find, act fast! Call or text me to schedule a time to see this duplex! Property sold AS-IS, measurements and square footage are not guaranteed accurate. Buyers are advised to perform their own measurements if exact footage is required.

7. 2018-12-11
   listed $219,900 529-char remark

   Show marketing remark (529 chars)

   Don't miss this duplex opportunity with a great location! This well maintained property offers 3 bedrooms with office or extra bedroom on side B with 2.5 baths and 3 bedrooms 2 bath on side A. Very little yard maintenance with a full concrete lot. 2 car garage included for both units. Hard to find, act fast! Call or text me to schedule a time to see this duplex! Property sold AS-IS, measurements and square footage are not guaranteed accurate. Buyers are advised to perform their own measurements if exact footage is required.

8. 1992-11-01
   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: $5,346 · $445/mo
• Projected year-2 tax: $5,673 · $473/mo
• Expected delta: +$327/yr (+$27/mo · 6.1%)

ⓘ 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: $38,712
• − Mortgage interest: −$17,365
• − Property taxes: −$5,346
• − Insurance: −$1,550
• − Repairs & maintenance: −$3,097
• − Management: −$3,097
• − Depreciation: −$9,018
• Taxable loss: −$761
• Est. tax savings @ 24.0%: +$183
• After-tax cash flow: $4,361/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): 53,478
• Household income: $97,231
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 1958.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 12% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 8% Chinese 1% Tagalog/Filipino 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: ▼ -146.64%
• Current HPI: 213.2155
• Rent YoY: ▲ 2.75%
• 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

+41.0% since first listed

5 events — show timeline

• 2026-04-16 Listed $310,000 LARMLS
• 2019-01-17 Sold (Public Records) — Public Records
• 2019-01-16 Sold (MLS) — LARMLS
• 2018-12-11 Listed $219,900 LARMLS
• 1992-11-01 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $5,346 · -2.6% YoY. Source: county tax records.