7424 35th St · Lubbock, TX 79407

$175,000

2 bd · 2.0 ba · 1,006 sqft · SingleFamily public records · 14 Days on market

Built 2023 Good condition 4,792 sqft lot ↓ 3% since listing

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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 +11.5/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming home located in Lubbock, TX, offering a spacious and inviting atmosphere. The property features a well-maintained interior with 2 bedrooms and 2 bathrooms. Enjoy the open-concept design, modern kitchen and a cozy living area that flows seamlessly for entertaining. The backyard has an optional hot tub providing a serene escape with space for outdoor activities. Custom blinds throughout the home. Both front and backyard are completely done with rock and artificial turf providing a low maintenance landscape. Conveniently located near local amenities and schools. Don't miss this opportunity!

Key facts

• Cozy living area
• Optional hot tub
• Modern kitchen

Tags

• MODERN KITCHEN
• COZY LIVING AREA
• OPTIONAL HOT TUB
• LOW MAINTENANCE LANDSCAPE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Restrictions: None; Possession: Negotiable
• Financial info: Listing accepts Cash, Conventional, FHA, VA loan, Other; Second mortgage: none
• HOA & community: No association

Exterior

• Parking: Attached 1-car garage; Drive-through parking
• Utilities: Electricity available and connected; Community mailbox; Concrete and curbs; Gravel/rock; Individual gas meter; Individual water meter; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story; Property not attached; Located in Upland Xing subdivision; Built in 2023
• Construction: Composition roof; Brick/mortar foundation; Construction materials: Unknown
• Exterior features: Uncovered courtyard; Pool with separate spa/hot tub; Drive through parking

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom (14 x 11) on level 1; Total of 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Granite counters; Kitchen island; Open floorplan; Pantry; Walk-in closet(s); One living area; One dining area; Room count: 2; Living area listed as 1010
• Laundry & utility: Individual gas meter; Individual water meter

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-59 ($-708/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (12.9% below list).
• Recommended offer: $152k (12.9% 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.
• Frenship ISD (urban): math 47% / reading 54% proficiency, ranked #162 of 826 in TX (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crestview El (math 77% / reading 80%, grade A, #48 of 4,322 statewide, top 1%, 583 students, 29% FRL); Frenship Middle (math 46% / reading 50%, grade C-, #400 of 1,662 statewide, top 24%, 833 students, 47% FRL); Frenship H S (math 44% / reading 65%, grade C-, #379 of 1,632 statewide, top 26%, 3,247 students, 46% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: Rents soft (-0.1%/yr); 613 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $152,363 (12.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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: 0.87% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.25×
• Total profit: $-36,525
• Equity at exit: $26,093

10-year hold

• IRR: -26.8%
• Equity multiple: -0.10×
• Total profit: $-53,674
• Equity at exit: $15,131

Cash invested: $49,000 (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 79407

• Home prices YoY: -16.3%
• Rents YoY: -0.1%
• Active inventory: 613
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,524 high
• Mortgage (P&I): −$918
• Tax from tax record: −$272 /mo · $3,264/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $-59

Break-even live

Break-even rent $1,598

Max offer price $164,576

Occupancy floor 99%

Sensitivity live

Price	-10% $40	-5% $-9	+0% $-59	+5% $-109	+10% $-158
Rent	-10% $-179	-5% $-119	+0% $-59	+5% $1	+10% $61
Rate	-1.0pp $29	-0.5pp $-14	base $-59	+0.5pp $-104	+1.0pp $-150

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7420 35th St Lubbock, TX	3.0	2.0	1247	$1,500	$1.20	45d	1	0.01mi
7413 35th St Lubbock, TX	3.0	2.0	1247	$1,475	$1.18	23d	1	0.06mi
2911 Urbana Pl Lubbock, TX	3.0	2.0	1452	$1,800	$1.24	23d	1	0.35mi
7535 32nd St Lubbock, TX	3.0	2.0	1120	$1,395	$1.25	45d	1	0.36mi
7541 33rd St Lubbock, TX	3.0	2.0	1296	$1,500	$1.16	23d	1	0.37mi
7222 35th St Lubbock, TX	3.0	2.0	1450	$1,935	$1.33	45d	1	0.38mi
3518 Turner Ave Lubbock, TX	3.0	2.0	1450	$2,199	$1.52	45d	1	0.39mi
7324 26th St Lubbock, TX	2.0	1.0	936	$850	$0.91	45d	1	0.57mi
7024 40th St Unit A Lubbock, TX	3.0	2.0	1500	$1,600	$1.07	45d	1	0.59mi
7022 40th St Unit A Lubbock, TX	3.0	2.0	1500	$1,600	$1.07	45d	1	0.60mi
6801 19th St Unit 179 Lubbock, TX	3.0	2.0	1008	$1,100	$1.09	45d	1	1.24mi
6333 29th St Lubbock, TX	3.0	2.0	1051	$1,350	$1.28	15d	1	1.44mi

Listing history 7 events

1. 2026-06-03
   statusdays on market $175,000 Pending 14 DOM
2. 2026-06-02
   days on market $175,000 Active 13 DOM
3. 2026-06-01
   days on market $175,000 Active 12 DOM
4. 2026-05-31
   days on market $175,000 Active 11 DOM
5. 2026-05-30
   days on market $175,000 Active 10 DOM
6. 2026-02-24
   price $175,000 619-char remark
7. 2026-02-05
   listed $179,999 Active 619-char remark

ⓘ 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: $3,264 · $272/mo
• Projected year-2 tax: $3,264 · $272/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,284
• − Mortgage interest: −$9,803
• − Property taxes: −$3,264
• − Insurance: −$875
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$5,091
• Taxable loss: −$3,675
• Est. tax savings @ 24.0%: +$882
• After-tax cash flow: $174/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This charming home in Lubbock, TX, is in good condition with a modern and well-maintained interior and exterior. It offers a spacious and inviting atmosphere with an open-concept design and modern kitchen. The property is located near local amenities and schools, making it a great opportunity for investors.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Reorganizing the living room furniture — Improved layout can make the space more functional and visually appealing.
• Both Adding decorative elements to the kitchen and bathrooms — Enhanced decor can make the spaces more inviting and attractive to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Reorganizing the living room furniture — Improved layout can make the space more functional and visually appealing. ↑
• Both Adding decorative elements to the kitchen and bathrooms — Enhanced decor can make the spaces more inviting and attractive to potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Frenship ISD
• NCES district ID: 4819830
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $54,376
• Composite: 43.59/100
• National rank: #2976
• State rank: #162 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): 24,000
• Household income: $61,509
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1914.0

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: White 58% Hispanic / Latino 31% Two or more races 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 1% Chinese 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: ▼ -44.87%
• Current HPI: 229.9895
• Rent YoY: ▼ -0.07%
• 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

-2.8% since first listed

5 events — show timeline

• 2026-06-03 Pending — NTREIS
• 2026-05-20 Listing Removed — NTREIS
• 2026-05-20 Listed $175,000 NTREIS
• 2026-02-24 Price Changed $175,000 NTREIS
• 2026-02-05 Listed $179,999 NTREIS

Property tax history

+105.2%/yr

Latest (2025): $3,264 · +2.6% YoY. Source: county tax records.