2009 46th St · Lubbock, TX 79412

$134,000

4 bd · 2.0 ba · 2,508 sqft · SingleFamily public records · 92 Days on market

Built 1952 9,938 sqft lot $53/sqft · 30% below area Est $202k · 34% under

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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 +18.8/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +5.9/10.0
• 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

Need lots of space at an affordable price? Able to make some repairs and put in some sweat equity? Large flat roofed home needs at least roof repair and possible replacement. Roof is currently not insured or insurable. Other minor updates needed include ceiling repairs, minor bathroom tiling in hall bath, and electrical panel (currently working but Federal Pacific brand). The house has 2575 square feet above ground and another 154 below ground. Home has four bedrooms, two baths with a two car attached carport out front. It has two living areas , one with a fireplace, good sized kitchen, bonus room for office or formal dining room, and a cinder block cement basement. The home has double paned windows and vinyl siding and a huge yard! It is located close to park, schools, and restaurants. Make it your new home today!

Key facts

• Good sized kitchen
• Double paned windows
• Bonus room

Tags

• LARGE FLAT ROOFED HOME
• TWO LIVING AREAS
• GOOD SIZED KITCHEN
• BONUS ROOM
• CINDER BLOCK CEMENT BASEMENT
• DOUBLE PANED WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $134k).
• Recommended offer: $122k (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-, 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 (+3.9%/yr); 110 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• This rent runs 36% of the median local income ($49k/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 $926 of loan paydown is wiped out by about $4k 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 92 days — a 9% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,940 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 7.5

CMA / ARV

• ARV (median comp): $202,486
• List price: $134,000
• Delta: -33.82%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-11,680
• Equity at exit: $19,980

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $6,774
• Equity at exit: $11,586

Cash invested: $37,520 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,481 high
• Mortgage (P&I): −$703
• Tax from tax record: −$276 /mo · $3,311/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $136

Break-even live

Break-even rent $1,309

Max offer price $134,000

Occupancy floor 86%

Sensitivity live

Price	-10% $211	-5% $174	+0% $136	+5% $98	+10% $60
Rent	-10% $19	-5% $77	+0% $136	+5% $194	+10% $253
Rate	-1.0pp $203	-0.5pp $170	base $136	+0.5pp $101	+1.0pp $66

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2107 48th St Lubbock, TX	3.0	1.0	1956	$1,200	$0.61	44d	1	0.14mi
1718 43rd St Lubbock, TX	4.0	2.0	1870	$1,075	$0.57	22d	1	0.32mi
2121 56th St Lubbock, TX	3.0	2.0	2047	$1,999	$0.98	22d	1	0.64mi
2403 38th St Lubbock, TX	3.0	1.5	1786	$1,700	$0.95	44d	1	0.68mi
2310 59th St Lubbock, TX	3.0	2.5	2637	$1,900	$0.72	44d	1	0.85mi
2703 54th St Lubbock, TX	5.0	2.0	2116	$2,000	$0.95	44d	1	0.90mi
2601 33rd St Lubbock, TX	3.0	2.0	1894	$1,800	$0.95	22d	1	1.07mi
2117 65th St Lubbock, TX	3.0	2.0	2285	$1,975	$0.86	22d	1	1.14mi
2220 29th St Lubbock, TX	3.0	2.0	2032	$1,300	$0.64	44d	1	1.15mi
2319 28th St Lubbock, TX	4.0	2.0	2146	$1,650	$0.77	22d	1	1.21mi
2115 66th St Lubbock, TX	4.0	2.0	2160	$1,795	$0.83	22d	1	1.25mi
2730 68th St Lubbock, TX	4.0	3.0	2050	$1,999	$0.98	22d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $134,000 Active 92 DOM
2. 2026-06-17
   days on market $134,000 Active 91 DOM
3. 2026-06-16
   days on market $134,000 Active 90 DOM
4. 2026-06-15
   days on market $134,000 Active 89 DOM
5. 2026-06-14
   days on market $134,000 Active 87 DOM
6. 2026-06-13
   days on market $134,000 Active 86 DOM
7. 2026-06-10
   days on market $134,000 Active 84 DOM
8. 2026-06-09
   days on market $134,000 Active 83 DOM
9. 2026-06-08
   days on market $134,000 Active 82 DOM
10. 2026-06-07
    days on market $134,000 Active 81 DOM
11. 2026-06-05
    days on market $134,000 Active 78 DOM
12. 2026-06-03
    days on market $134,000 Active 77 DOM
13. 2026-06-02
    days on market $134,000 Active 76 DOM
14. 2026-06-01
    days on market $134,000 Active 75 DOM
15. 2026-05-31
    days on market $134,000 Active 74 DOM
16. 2026-05-30
    days on market $134,000 Active 73 DOM
17. 2026-05-01
    price $134,000 828-char remark

    Show marketing remark (828 chars)

    Need lots of space at an affordable price? Able to make some repairs and put in some sweat equity? Large flat roofed home needs at least roof repair and possible replacement. Roof is currently not insured or insurable. Other minor updates needed include ceiling repairs, minor bathroom tiling in hall bath, and electrical panel (currently working but Federal Pacific brand). The house has 2575 square feet above ground and another 154 below ground. Home has four bedrooms, two baths with a two car attached carport out front. It has two living areas , one with a fireplace, good sized kitchen, bonus room for office or formal dining room, and a cinder block cement basement. The home has double paned windows and vinyl siding and a huge yard! It is located close to park, schools, and restaurants. Make it your new home today!

18. 2026-04-13
    price $139,000 828-char remark

    Show marketing remark (828 chars)

    Need lots of space at an affordable price? Able to make some repairs and put in some sweat equity? Large flat roofed home needs at least roof repair and possible replacement. Roof is currently not insured or insurable. Other minor updates needed include ceiling repairs, minor bathroom tiling in hall bath, and electrical panel (currently working but Federal Pacific brand). The house has 2575 square feet above ground and another 154 below ground. Home has four bedrooms, two baths with a two car attached carport out front. It has two living areas , one with a fireplace, good sized kitchen, bonus room for office or formal dining room, and a cinder block cement basement. The home has double paned windows and vinyl siding and a huge yard! It is located close to park, schools, and restaurants. Make it your new home today!

19. 2026-03-26
    price $144,900 828-char remark

    Show marketing remark (828 chars)

    Need lots of space at an affordable price? Able to make some repairs and put in some sweat equity? Large flat roofed home needs at least roof repair and possible replacement. Roof is currently not insured or insurable. Other minor updates needed include ceiling repairs, minor bathroom tiling in hall bath, and electrical panel (currently working but Federal Pacific brand). The house has 2575 square feet above ground and another 154 below ground. Home has four bedrooms, two baths with a two car attached carport out front. It has two living areas , one with a fireplace, good sized kitchen, bonus room for office or formal dining room, and a cinder block cement basement. The home has double paned windows and vinyl siding and a huge yard! It is located close to park, schools, and restaurants. Make it your new home today!

20. 2026-03-18
    listed $149,000 Active 828-char remark

    Show marketing remark (828 chars)

    Need lots of space at an affordable price? Able to make some repairs and put in some sweat equity? Large flat roofed home needs at least roof repair and possible replacement. Roof is currently not insured or insurable. Other minor updates needed include ceiling repairs, minor bathroom tiling in hall bath, and electrical panel (currently working but Federal Pacific brand). The house has 2575 square feet above ground and another 154 below ground. Home has four bedrooms, two baths with a two car attached carport out front. It has two living areas , one with a fireplace, good sized kitchen, bonus room for office or formal dining room, and a cinder block cement basement. The home has double paned windows and vinyl siding and a huge yard! It is located close to park, schools, and restaurants. Make it your new home today!

21. 2020-07-13
    soldstatus
22. 2020-07-10
    soldstatus 615-char remark

    Show marketing remark (615 chars)

    Versatile home for investors, growing families or someone needing more space! Cute elevation! This 4/2 has a 2 car-attached carport, 2-living areas, bright kitchen with plenty of counter-space and cabinets, and a bonus room that works as a great office or formal dining! All 4 bedrooms are spacious, and there is a concrete basement perfect for a man cave or storm shelter. Updated double pane windows & vinyl siding (transferable lifetime warranty for siding), huge yard with landscaping and metal shed! Covered and uncovered patio. Close to park, public pool, schools, and restaurants. This is a great home!

23. 2020-05-30
    listed $120,000 615-char remark

    Show marketing remark (615 chars)

    Versatile home for investors, growing families or someone needing more space! Cute elevation! This 4/2 has a 2 car-attached carport, 2-living areas, bright kitchen with plenty of counter-space and cabinets, and a bonus room that works as a great office or formal dining! All 4 bedrooms are spacious, and there is a concrete basement perfect for a man cave or storm shelter. Updated double pane windows & vinyl siding (transferable lifetime warranty for siding), huge yard with landscaping and metal shed! Covered and uncovered patio. Close to park, public pool, schools, and restaurants. This is a great home!

24. 2019-03-28
    soldstatus
25. 2019-03-26
    soldstatus
26. 2019-02-14
    listed $99,900
27. 1983-06-01
    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: $3,311 · $276/mo
• Projected year-2 tax: $3,311 · $276/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 5/10 Major FEMA zone X (unshaded) · 45% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 20 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: $17,773
• − Mortgage interest: −$7,506
• − Property taxes: −$3,311
• − Insurance: −$670
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$3,898
• Taxable loss: −$456
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $1,737/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

+34.1% since first listed

11 events — show timeline

• 2026-05-01 Price Changed $134,000 LARMLS
• 2026-04-13 Price Changed $139,000 LARMLS
• 2026-03-26 Price Changed $144,900 LARMLS
• 2026-03-18 Listed $149,000 LARMLS
• 2020-07-13 Sold (Public Records) — Public Records
• 2020-07-10 Sold (MLS) — LARMLS
• 2020-05-30 Listed $120,000 LARMLS
• 2019-03-28 Sold (Public Records) — Public Records
• 2019-03-26 Sold (MLS) — LARMLS
• 2019-02-14 Listed $99,900 LARMLS
• 1983-06-01 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,311 · +7.2% YoY. Source: county tax records.