2008 46th St · Lubbock, TX 79412

$63,000

2 bd · 1.0 ba · 927 sqft · SingleFamily public records · 98 Days on market

Built 1954 7,950 sqft lot $68/sqft · 45% below area Est $114k · 45% under ↓ 12% since listing

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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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +8.4/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits! This 2/1/1 home sits on a large lot and is ready for your vision. This property features hardwood floors, covered porch, patio and carport. This is a Fannie Mae HomePath property. Complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

Key facts

• Covered porch
• Carport
• Patio

Tags

• HARDWOOD FLOORS
• COVERED PORCH
• PATIO
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $63k).
• Recommended offer: $57k (9.0% 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-, 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: Brown El Gr 02 To 05 (math 27% / reading 12%, grade F, #3,583 of 4,322 statewide, top 86%, 238 students, 95% FRL); Slaton Middle (math 13% / reading 16%, grade F, #1,583 of 1,662 statewide, top 96%, 355 students, 96% FRL); Monterey H S (math 28% / reading 37%, grade F, #1,029 of 1,632 statewide, top 64%, 2,114 students, 72% FRL) — zoned schools average 88% FRL vs 60% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 38% district-wide (-15 pts) — the specific schools serving this property underperform the Lubbock ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.9%/yr); 110 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $436 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1954 — 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 $57,330 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.34% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.91%
• DSCR: 1.53
• GRM: 6.2

CMA / ARV

• ARV (median comp): $113,763
• List price: $63,000
• Delta: -44.62%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1218 48th St	0.71mi	2/1.0	1,040 (+12%)	14mo	$139,000	$134	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.87% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $1,737
• Equity at exit: $9,394

10-year hold

• IRR: 13.1%
• Equity multiple: 2.09×
• Total profit: $19,172
• Equity at exit: $5,447

Cash invested: $17,640 (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 79412

• Home prices YoY: -15.3%
• Rents YoY: 3.9%
• Active inventory: 110
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $843 high
• Mortgage (P&I): −$330
• Tax from tax record: −$134 /mo · $1,606/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $175

Break-even live

Break-even rent $621

Max offer price $63,000

Occupancy floor 74%

Sensitivity live

Price	-10% $211	-5% $193	+0% $175	+5% $157	+10% $139
Rent	-10% $109	-5% $142	+0% $175	+5% $208	+10% $242
Rate	-1.0pp $207	-0.5pp $191	base $175	+0.5pp $159	+1.0pp $142

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1718 46th St Lubbock, TX	1.0	1.0	655	$695	$1.06	45d	1	0.16mi
1717 47th St Unit B Lubbock, TX	3.0	1.0	830	$775	$0.93	22d	1	0.21mi
1710 45th St Unit A Lubbock, TX	2.0	1.0	714	$595	$0.83	15d	1	0.21mi
2120 47th St Lubbock, TX	2.0	1.0	793	$795	$1.00	22d	1	0.23mi
1712 42nd St Unit B Lubbock, TX	3.0	1.0	899	$695	$0.77	22d	1	0.29mi
1610 45th St Unit 14 Lubbock, TX	1.0	1.0	550	$895	$1.63	45d	1	0.35mi
1604 45th St Lubbock, TX	1.0	1.0	700	$650	$0.93	45d	1	0.37mi
2101 51st St Lubbock, TX	2.0	1.5	1100	$900	$0.82	22d	1	0.39mi
5005 Avenue W Lubbock, TX	2.0	1.0	759	$699	$0.92	15d	1	0.47mi
5005 Avenue W Lubbock, TX	2.0	1.0	759	$799	$1.05	22d	1	0.47mi
5005 Avenue W Lubbock, TX	2.0	1.0	759	$749	$0.99	46d	1	0.47mi
2315 48th St Lubbock, TX	3.0	1.0	1014	$1,350	$1.33	22d	1	0.48mi
2402 46th St Unit B Lubbock, TX	2.0	1.0	942	$745	$0.79	22d	1	0.49mi
2108 38th St Lubbock, TX	3.0	2.0	1124	$900	$0.80	45d	1	0.50mi
2406 46th St Unit A Lubbock, TX	2.0	1.0	943	$775	$0.82	22d	1	0.50mi
2302 40th St Lubbock, TX	2.0	1.0	793	$749	$0.94	22d	1	0.51mi
2401 45th St Lubbock, TX	1.0–2.0	1.0	680	$845	$1.24	15d	3	0.51mi
2412 46th St Apt A Lubbock, TX	2.0	1.0	945	$795	$0.84	22d	1	0.53mi
2409 45th St Unit 8 Lubbock, TX	2.0	1.0	800	$895	$1.12	45d	1	0.53mi
2400 44th St Lubbock, TX	1.0–3.0	1.0–2.0	1015	$1,010	$1.00	15d	23	0.55mi
2304 39th St Lubbock, TX	2.0	1.0	830	$1,150	$1.39	22d	1	0.56mi
1511 52nd St Lubbock, TX	2.0	1.0	648	$800	$1.23	45d	1	0.62mi
2504 44th St Lubbock, TX	2.0	1.0	939	$995	$1.06	45d	1	0.63mi
2011 35th St Lubbock, TX	2.0	1.0	810	$800	$0.99	45d	1	0.64mi
2107 35th St Unit A Lubbock, TX	2.0	1.0	1025	$800	$0.78	45d	1	0.65mi
1312 40th St Lubbock, TX	3.0	1.0	940	$795	$0.85	22d	1	0.66mi
1119 46th St Unit A Lubbock, TX	2.0	1.0	704	$595	$0.85	22d	1	0.67mi
2513 43rd St Lubbock, TX	2.0	1.0	912	$1,150	$1.26	45d	1	0.70mi
2513 43rd St Lubbock, TX	2.0	1.0	912	$1,150	$1.26	15d	1	0.70mi
1317 52nd St Unit C Lubbock, TX	2.0	1.0	755	$650	$0.86	22d	1	0.70mi
2514 42nd St Lubbock, TX	3.0	1.0	943	$950	$1.01	15d	1	0.71mi
2208 35th St Unit B Lubbock, TX	2.0	1.0	767	$750	$0.98	45d	1	0.72mi
1316 53rd St Apt D Lubbock, TX	2.0	1.0	755	$695	$0.92	45d	1	0.72mi
1107 45th St Unit B Lubbock, TX	2.0	1.0	728	$850	$1.17	45d	1	0.74mi
2521 41st St Lubbock, TX	2.0	1.0	990	$925	$0.93	45d	1	0.76mi
2103 33rd St Lubbock, TX	2.0	1.0	1075	$700	$0.65	15d	1	0.76mi
2607 44th St Lubbock, TX	2.0	2.0	988	$1,325	$1.34	45d	1	0.78mi
1307 53rd St Unit 1307 C Lubbock, TX	2.0	1.0	755	$695	$0.92	45d	1	0.78mi
2521 40th St Lubbock, TX	2.0	1.0	902	$1,195	$1.32	22d	1	0.79mi
1310 54th St Unit 3 Lubbock, TX	1.0	1.0	684	$575	$0.84	45d	1	0.79mi

Listing history 22 events

1. 2026-06-15
   status $63,000 Pending 98 DOM
2. 2026-06-15
   days on market $63,000 Active 98 DOM
3. 2026-06-14
   days on market $63,000 Active 96 DOM
4. 2026-06-13
   days on market $63,000 Active 95 DOM
5. 2026-06-10
   days on market $63,000 Active 93 DOM
6. 2026-06-09
   days on market $63,000 Active 92 DOM
7. 2026-06-08
   days on market $63,000 Active 91 DOM
8. 2026-06-07
   days on market $63,000 Active 90 DOM
9. 2026-06-05
   days on market $63,000 Active 87 DOM
10. 2026-06-03
    days on market $63,000 Active 86 DOM
11. 2026-06-02
    days on market $63,000 Active 85 DOM
12. 2026-06-01
    days on market $63,000 Active 84 DOM
13. 2026-05-31
    days on market $63,000 Active 83 DOM
14. 2026-05-30
    days on market $63,000 Active 82 DOM
15. 2026-05-07
    price $63,000 390-char remark

    Show marketing remark (390 chars)

    Opportunity awaits! This 2/1/1 home sits on a large lot and is ready for your vision. This property features hardwood floors, covered porch, patio and carport. This is a Fannie Mae HomePath property. Complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

16. 2026-04-07
    price $67,500 390-char remark

    Show marketing remark (390 chars)

    Opportunity awaits! This 2/1/1 home sits on a large lot and is ready for your vision. This property features hardwood floors, covered porch, patio and carport. This is a Fannie Mae HomePath property. Complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

17. 2026-03-09
    listed $70,000 Active 390-char remark

    Show marketing remark (390 chars)

    Opportunity awaits! This 2/1/1 home sits on a large lot and is ready for your vision. This property features hardwood floors, covered porch, patio and carport. This is a Fannie Mae HomePath property. Complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

18. 2018-10-10
    soldstatus
19. 2018-10-08
    soldstatus 434-char remark

    Show marketing remark (434 chars)

    Whoa look at this house. The pictures show a true beauty. Located across from a beautiful park, this 2 bedroom 1 bath home has a BIG carport and garage. This home is perfect for a first time home buyer or one looking for an investment. This home has a very entertaining backyard, wonderful wood floors and a nice floor-plan. Priced to sell, contact your Realtor today for a showing. This home is priced competitively and can be yours.

20. 2018-07-06
    listed $71,900 434-char remark

    Show marketing remark (434 chars)

    Whoa look at this house. The pictures show a true beauty. Located across from a beautiful park, this 2 bedroom 1 bath home has a BIG carport and garage. This home is perfect for a first time home buyer or one looking for an investment. This home has a very entertaining backyard, wonderful wood floors and a nice floor-plan. Priced to sell, contact your Realtor today for a showing. This home is priced competitively and can be yours.

21. 2009-12-29
    soldstatus
22. 2005-05-18
    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: $1,606 · $134/mo
• Projected year-2 tax: $1,606 · $134/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $10,111
• − Mortgage interest: −$3,529
• − Property taxes: −$1,606
• − Insurance: −$315
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$1,833
• Taxable income: $1,210
• Est. tax owed @ 24.0%: −$290
• After-tax cash flow: $1,811/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): 15,018
• Household income: $48,878
• Rent vs Own: 51.2% rent · 48.8% own
• Severe rent burden: 676.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 61% Two or more races 25% White 25% Black 10%
• Hispanic origin (detail): Mexican 51% Puerto Rican 2%
• Common ancestry: Lithuanian 1% Serbian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 67% English-only · Spanish 32% 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: ▼ -33.95%
• Current HPI: 188.4033
• Rent YoY: ▲ 3.87%
• 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

-12.4% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $63,000 LARMLS
• 2026-04-07 Price Changed $67,500 LARMLS
• 2026-03-09 Listed $70,000 LARMLS
• 2018-10-10 Sold (Public Records) — Public Records
• 2018-10-08 Sold (MLS) — LARMLS
• 2018-07-06 Listed $71,900 LARMLS
• 2009-12-29 Sold (Public Records) — Public Records
• 2005-05-18 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,606 · +7.2% YoY. Source: county tax records.