2702 2nd Pl · Lubbock, TX 79415

$99,900

3 bd · 1.0 ba · 916 sqft · SingleFamily public records · 27 Days on market

Built 1947 6,875 sqft lot

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Why this score? — see what drove the D+ 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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment property that has monthly income. Offer 2 bedrooms, one bath and a one car garage. Call now for your private showing.

Key facts

• 6,875 sq ft lot
• Garage
• Built 1947

Property features AI

Finance

• HOA & community: Nearby park

Exterior

• Parking: Attached garage; Additional parking available; Off-street and on-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Natural gas available; Water connected; Sewer connected
• Home design: Single-family residence; Single-story; Updated / remodeled
• Construction: Asbestos construction materials; Pillar/post/pier foundation; Composition roof
• Exterior features: Private yard; Fenced backyard; City lot on a corner

Interior

• Kitchen: Range / Free-standing range; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric and natural gas); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Aluminum window frames; Smoke detector(s)
• Laundry & utility: Laundry area located in the garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $59 ($708/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (8.7% below list).
• Recommended offer: $91k (8.7% below list) — sets the bar for 1% rule.

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.
• 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: Mcwhorter El (math 28% / reading 27%, grade F, #2,768 of 4,322 statewide, top 65%, 535 students, 94% FRL); Cavazos Middle (math 24% / reading 24%, grade F, #1,301 of 1,662 statewide, top 79%, 479 students, 97% FRL); Lubbock H S (math 45% / reading 52%, grade D, #560 of 1,632 statewide, top 35%, 1,839 students, 55% FRL) — zoned schools average 82% FRL vs 60% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 110 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 49% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• This rent runs 30% of the median local income ($36k/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 $691 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 27 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 1947 — 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 $91,202 (8.7% below list)

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.91% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.3%
• Equity multiple: 0.56×
• Total profit: $-12,432
• Equity at exit: $14,895

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-6,000
• Equity at exit: $8,638

Cash invested: $27,972 (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 79415

• Home prices YoY: -20.1%
• Active inventory: 110
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $912 high
• Mortgage (P&I): −$524
• Tax from tax record: −$96 /mo · $1,151/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $59

Break-even live

Break-even rent $837

Max offer price $99,900

Occupancy floor 89%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2803 2nd St Lubbock, TX	2.0	1.0	784	$800	$1.02	43d	1	0.14mi
2805 1st Pl Lubbock, TX	2.0	1.0	730	$895	$1.23	21d	1	0.18mi
2814 1st Pl Lubbock, TX	2.0	1.0	676	$695	$1.03	21d	1	0.23mi
2814 1st Pl Lubbock, TX	2.0	1.0	676	$695	$1.03	43d	1	0.23mi
2512 1st St Lubbock, TX	2.0	1.0	1050	$900	$0.86	13d	1	0.30mi
2613 Auburn St Lubbock, TX	2.0	1.0	978	$875	$0.89	43d	1	0.31mi
3207 Amherst St Lubbock, TX	3.0	1.0	1020	$1,200	$1.18	43d	1	0.58mi
114 Avenue V Lubbock, TX	2.0	1.0	728	$750	$1.03	43d	1	0.63mi
2906 Cornell St Lubbock, TX	2.0	1.0	920	$875	$0.95	13d	1	0.63mi
3315 Amherst St Lubbock, TX	2.0	1.0	950	$875	$0.92	21d	1	0.73mi
105 North Avenue U Unit U Lubbock, TX	2.0	1.0	672	$750	$1.12	43d	1	0.78mi
301 Avenue U Lubbock, TX	1.0–2.0	1.0	625	$875	$1.40	13d	4	0.78mi
3207 Duke St Lubbock, TX	2.0	1.0	647	$695	$1.07	43d	1	0.87mi
3207 Duke St Lubbock, TX	2.0	1.0	647	$595	$0.92	21d	1	0.87mi
2715 Fordham St Unit 7 Lubbock, TX	2.0	2.0	1100	$1,150	$1.05	43d	1	0.88mi
2315 13th St Lubbock, TX	2.0	1.0	825	$995	$1.21	43d	1	0.92mi
2316 15th St Lubbock, TX	2.0	1.0	960	$795	$0.83	21d	1	1.00mi
2317 15th St Lubbock, TX	2.0	1.0	900	$1,000	$1.11	43d	1	1.02mi
3307 Erskine St Lubbock, TX	3.0	1.0	1120	$1,000	$0.89	21d	1	1.05mi
2117 14th St Unit A Lubbock, TX	2.0	2.0	980	$1,250	$1.28	21d	1	1.09mi
1619 University Ave Unit 8 Lubbock, TX	2.0	2.0	900	$700	$0.78	43d	1	1.13mi
2101 14th St Lubbock, TX	2.0	1.0	895	$850	$0.95	21d	1	1.14mi
2101 14th St Lubbock, TX	2.0	1.0	895	$850	$0.95	43d	1	1.14mi
1710 9th St Unit 29 Lubbock, TX	2.0	1.0	700	$1,000	$1.43	13d	1	1.20mi
2101 16th St Unit 2D Lubbock, TX	2.0	1.0	950	$825	$0.87	43d	1	1.24mi
2121 17th St Lubbock, TX	3.0	1.0	1048	$995	$0.95	21d	1	1.24mi
701 N Indiana Ave Lubbock, TX	1.0–2.0	1.0–2.0	675	$850	$1.26	21d	1	1.27mi
3318 Itasca St Lubbock, TX	3.0	1.5	1068	$950	$0.89	13d	1	1.29mi
1805 Avenue V Unit V Lubbock, TX	2.0	1.0	558	$599	$1.07	21d	1	1.30mi
2320 20th St Lubbock, TX	2.0	1.0	844	$1,000	$1.18	43d	1	1.33mi
2516 21st St Lubbock, TX	2.0	1.0	1052	$1,125	$1.07	43d	1	1.34mi
2307 20th St Lubbock, TX	2.0	2.0	850	$850	$1.00	43d	1	1.37mi
2408 22nd St Lubbock, TX	2.0	1.0	1000	$1,100	$1.10	13d	1	1.45mi
2518 23rd St Lubbock, TX	2.0	1.0	900	$1,075	$1.19	43d	1	1.47mi
2122 21st St Lubbock, TX	2.0	1.0	800	$750	$0.94	21d	2	1.48mi
2122 21st St Unit B Lubbock, TX	2.0	1.0	800	$750	$0.94	21d	1	1.48mi
2122 21st St Unit A Lubbock, TX	2.0	1.0	800	$800	$1.00	43d	1	1.48mi

Listing history 22 events

1. 2026-06-18
   days on market $99,900 Active 27 DOM
2. 2026-06-17
   days on market $99,900 Active 26 DOM
3. 2026-06-16
   days on market $99,900 Active 25 DOM
4. 2026-06-15
   days on market $99,900 Active 24 DOM
5. 2026-06-14
   days on market $99,900 Active 22 DOM
6. 2026-06-13
   days on market $99,900 Active 21 DOM
7. 2026-06-10
   days on market $99,900 Active 19 DOM
8. 2026-06-09
   days on market $99,900 Active 18 DOM
9. 2026-06-08
   days on market $99,900 Active 17 DOM
10. 2026-06-07
    days on market $99,900 Active 16 DOM
11. 2026-06-05
    days on market $99,900 Active 13 DOM
12. 2026-06-03
    days on market $99,900 Active 12 DOM
13. 2026-06-02
    days on market $99,900 Active 11 DOM
14. 2026-06-01
    days on market $99,900 Active 10 DOM
15. 2026-05-31
    days on market $99,900 Active 9 DOM
16. 2026-05-30
    days on market $99,900 Active 8 DOM
17. 2026-05-22
    listed $99,900 Active
18. 2022-02-28
    soldstatus
19. 2020-10-09
    soldstatus
20. 2020-08-05
    listed $89,000
21. 2007-10-25
    soldstatus
22. 2006-08-15
    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: $1,151 · $96/mo
• Projected year-2 tax: $1,828 · $152/mo
• Expected delta: +$677/yr (+$56/mo · 58.8%)

ⓘ 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 2/10 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: $10,944
• − Mortgage interest: −$5,596
• − Property taxes: −$1,151
• − Insurance: −$500
• − Repairs & maintenance: −$876
• − Management: −$876
• − Depreciation: −$2,906
• Taxable loss: −$960
• Est. tax savings @ 24.0%: +$230
• After-tax cash flow: $939/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): 15,794
• Household income: $36,468
• Rent vs Own: 62.9% rent · 37.1% own
• Severe rent burden: 1287.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 26% Two or more races 19% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Italian 1% Serbian 1% Estonian 1%
• Foreign-born: 15% · Canada, China
• Languages at home: 57% English-only · Spanish 36% Other Indo-European 4% Arabic 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: ▼ -41.79%
• Current HPI: 165.7933
• 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

+12.2% since first listed

6 events — show timeline

• 2026-05-22 Listed $99,900 LARMLS
• 2022-02-28 Sold (Public Records) — Public Records
• 2020-10-09 Sold (Public Records) — Public Records
• 2020-08-05 Listed $89,000 LARMLS
• 2007-10-25 Sold (Public Records) — Public Records
• 2006-08-15 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,151 · -1.2% YoY. Source: county tax records.