1608 28th St · Lubbock, TX 79411

$180,000

4 bd · 4.0 ba · 2,120 sqft · MultiFamily public records · 147 Days on market

Built 1986 7,000 sqft lot

---

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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• 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

Investment opportunity at 1608 28th St. featuring a well-maintained duplex with two units, each offering 2 bedrooms and 2 full bathrooms. Both units include vinyl flooring throughout, large living areas, and functional floor plans. Each side has its own private backyard and a 1-car carport, providing convenience and separation for tenants. Both units are currently rented, offering immediate cash flow. Unit A rents for $765/month and Unit B rents for $975/month. Ideal for investors seeking a stabilized income-producing property or owner-occupants looking to offset expenses. Convenient location with easy access to local amenities. Do not miss this opportunity to add a solid duplex to your portfolio.

Key facts

• Private backyard
• Large living areas
• Convenient location

Tags

• WELL MAINTAINED DUPLEX
• PRIVATE BACKYARD
• 1 CAR CARPORT
• LARGE LIVING AREAS
• FUNCTIONAL FLOOR PLANS
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $-67 ($-803/yr) — negative. Per door: $-33/mo.
• To cash-flow at today's rent, offer at most $168k (6.6% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% 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 (+1.9%/yr); 96 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).
• At $1,908/mo this rent would consume 48% of the median local household income ($48k/yr) (locally 777% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• It's been on market 147 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,400 (12.0% 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. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.06% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.30×
• Total profit: $-35,342
• Equity at exit: $26,839

10-year hold

• IRR: -16.7%
• Equity multiple: 0.13×
• Total profit: $-43,925
• Equity at exit: $15,563

Cash invested: $50,400 (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 79411

• Home prices YoY: -10.5%
• Rents YoY: 1.9%
• Active inventory: 96
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $1,908 high
• Mortgage (P&I): −$944
• Tax from tax record: −$129 /mo · $1,545/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-67

Break-even live

Break-even rent $1,993

Max offer price $168,182

Occupancy floor 99%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$1,908
Total (2 units)			$1,908

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1517 25th St Lubbock, TX	3.0	2.0	1514	$1,095	$0.72	21d	1	0.18mi
1716 24th St Lubbock, TX	4.0	2.0	1742	$1,850	$1.06	43d	1	0.32mi
2009 23rd St Lubbock, TX	3.0	1.0	1615	$1,249	$0.77	43d	1	0.50mi
1912 21st St Lubbock, TX	3.0	2.0	1473	$1,025	$0.70	43d	1	0.56mi
2118 24th St Lubbock, TX	3.0	1.0	1435	$1,000	$0.70	21d	1	0.56mi
1912 20th St Unit A Lubbock, TX	3.0	2.0	1590	$1,000	$0.63	21d	1	0.62mi
2220 29th St Lubbock, TX	3.0	2.0	2032	$1,300	$0.64	43d	1	0.63mi
2104 20th St Lubbock, TX	4.0	2.0	1796	$1,700	$0.95	21d	1	0.69mi
2311 25th St Lubbock, TX	4.0	2.0	1400	$1,400	$1.00	21d	1	0.73mi
2124 20th St Lubbock, TX	3.0	2.0	1481	$1,150	$0.78	13d	1	0.75mi
2319 28th St Lubbock, TX	4.0	2.0	2146	$1,650	$0.77	21d	1	0.75mi
2215 36th St Lubbock, TX	3.0	2.0	1578	$1,450	$0.92	43d	1	0.85mi
2416 30th St Lubbock, TX	3.0	2.0	1746	$1,425	$0.82	21d	1	0.86mi
2402 21st St Lubbock, TX	3.0	1.0	1453	$1,500	$1.03	43d	1	0.91mi
1718 43rd St Lubbock, TX	4.0	2.0	1870	$1,075	$0.57	21d	1	0.95mi
2430 31st St Lubbock, TX	3.0	2.0	1592	$1,450	$0.91	43d	1	0.95mi
2119 15th St Lubbock, TX	3.0	2.0	1600	$1,400	$0.88	43d	1	1.02mi
2518 30th St Lubbock, TX	4.0	2.0	1558	$1,750	$1.12	21d	1	1.06mi
2220 16th St Lubbock, TX	3.0	2.0	1414	$1,300	$0.92	21d	1	1.07mi
2403 38th St Lubbock, TX	3.0	1.5	1786	$1,700	$0.95	43d	1	1.07mi
2601 33rd St Lubbock, TX	3.0	2.0	1894	$1,800	$0.95	21d	1	1.13mi
2508 37th St Lubbock, TX	3.0	2.5	1495	$1,700	$1.14	43d	1	1.14mi
1607 Avenue Y Unit Y Lubbock, TX	4.0	2.0	1532	$2,100	$1.37	13d	1	1.15mi
2605 22nd St Lubbock, TX	3.0	2.0	2260	$1,960	$0.87	43d	1	1.15mi
2613 30th St Lubbock, TX	3.0	2.0	1472	$1,500	$1.02	43d	1	1.16mi
2614 31st St Lubbock, TX	3.0	2.0	1549	$1,650	$1.07	43d	1	1.16mi
2701 27th St Lubbock, TX	3.0	2.0	1569	$1,800	$1.15	43d	1	1.23mi
2629 22nd St Lubbock, TX	5.0	2.0	2218	$1,399	$0.63	43d	1	1.27mi
2107 48th St Lubbock, TX	3.0	1.0	1956	$1,200	$0.61	43d	1	1.37mi
2609 41st St Lubbock, TX	3.0	2.0	1469	$1,550	$1.06	21d	1	1.41mi
707 Avenue T Lubbock, TX	3.0–4.0	3.0–4.0	1559	$699	$0.45	43d	45	1.42mi
2801 36th St Lubbock, TX	3.0	2.0	1446	$2,700	$1.87	43d	1	1.43mi

Listing history 28 events

1. 2026-06-18
   days on market $180,000 Active 147 DOM
2. 2026-06-17
   days on market $180,000 Active 146 DOM
3. 2026-06-16
   days on market $180,000 Active 145 DOM
4. 2026-06-15
   days on market $180,000 Active 144 DOM
5. 2026-06-14
   days on market $180,000 Active 142 DOM
6. 2026-06-13
   days on market $180,000 Active 141 DOM
7. 2026-06-10
   days on market $180,000 Active 139 DOM
8. 2026-06-09
   days on market $180,000 Active 138 DOM
9. 2026-06-08
   days on market $180,000 Active 137 DOM
10. 2026-06-07
    days on market $180,000 Active 136 DOM
11. 2026-06-05
    days on market $180,000 Active 133 DOM
12. 2026-06-03
    days on market $180,000 Active 132 DOM
13. 2026-06-02
    days on market $180,000 Active 131 DOM
14. 2026-06-01
    days on market $180,000 Active 130 DOM
15. 2026-05-31
    days on market $180,000 Active 129 DOM
16. 2026-05-30
    days on market $180,000 Active 128 DOM
17. 2026-01-22
    listed $180,000 Active 706-char remark

    Show marketing remark (706 chars)

    Investment opportunity at 1608 28th St. featuring a well-maintained duplex with two units, each offering 2 bedrooms and 2 full bathrooms. Both units include vinyl flooring throughout, large living areas, and functional floor plans. Each side has its own private backyard and a 1-car carport, providing convenience and separation for tenants. Both units are currently rented, offering immediate cash flow. Unit A rents for $765/month and Unit B rents for $975/month. Ideal for investors seeking a stabilized income-producing property or owner-occupants looking to offset expenses. Convenient location with easy access to local amenities. Do not miss this opportunity to add a solid duplex to your portfolio.

18. 2024-12-03
    historical $750
19. 2024-11-27
    listed $750
20. 2024-11-17
    historical $750
21. 2024-11-11
    price $750
22. 2024-09-29
    price $850
23. 2024-09-08
    price $950
24. 2024-09-05
    listed $975
25. 2024-05-31
    soldstatus Closed 908-char remark

    Show marketing remark (908 chars)

    Owner Financing Available!! Explore the boundless potential of this captivating East Lubbock duplex! Featuring 2 beds and 2 baths in each unit, this property offers a spacious canvas for creative transformation. Whether you're a investor or a homeowner with dreams of personalization, this duplex is brimming with possibilities. The generous backyard and proximity to schools and amenities enhance its appeal, catering to a variety of lifestyle needs. Positioned strategically near schools, shopping, etc. This property isn't just a dwelling it's a promising investment for future growth and development. Imagine the potential returns or the unique living experience you can craft for yourself. The fair condition of the property invites a vision of improvement and customization, allowing you to shape it according to your preferences. This East Side gem invites you to step into a world of opportunities.

26. 2024-05-21
    status Pending 908-char remark

    Show marketing remark (908 chars)

    Owner Financing Available!! Explore the boundless potential of this captivating East Lubbock duplex! Featuring 2 beds and 2 baths in each unit, this property offers a spacious canvas for creative transformation. Whether you're a investor or a homeowner with dreams of personalization, this duplex is brimming with possibilities. The generous backyard and proximity to schools and amenities enhance its appeal, catering to a variety of lifestyle needs. Positioned strategically near schools, shopping, etc. This property isn't just a dwelling it's a promising investment for future growth and development. Imagine the potential returns or the unique living experience you can craft for yourself. The fair condition of the property invites a vision of improvement and customization, allowing you to shape it according to your preferences. This East Side gem invites you to step into a world of opportunities.

27. 2024-03-06
    listed $165,000 Active 908-char remark

    Show marketing remark (908 chars)

    Owner Financing Available!! Explore the boundless potential of this captivating East Lubbock duplex! Featuring 2 beds and 2 baths in each unit, this property offers a spacious canvas for creative transformation. Whether you're a investor or a homeowner with dreams of personalization, this duplex is brimming with possibilities. The generous backyard and proximity to schools and amenities enhance its appeal, catering to a variety of lifestyle needs. Positioned strategically near schools, shopping, etc. This property isn't just a dwelling it's a promising investment for future growth and development. Imagine the potential returns or the unique living experience you can craft for yourself. The fair condition of the property invites a vision of improvement and customization, allowing you to shape it according to your preferences. This East Side gem invites you to step into a world of opportunities.

28. 2010-12-03
    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: $1,545 · $129/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: +$1,749/yr (+$146/mo · 113.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $22,896
• − Mortgage interest: −$10,083
• − Property taxes: −$1,545
• − Insurance: −$6,018
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$5,236
• Taxable loss: −$3,650
• Est. tax savings @ 24.0%: +$876
• After-tax cash flow: $73/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): 6,865
• Household income: $47,634
• Rent vs Own: 72.5% rent · 27.5% own
• Severe rent burden: 777.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 50% White 39% Two or more races 10% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 37% Cuban 2%
• Common ancestry: Slovak 3% Italian 2% Portuguese 2%
• Foreign-born: 8% · Canada
• Languages at home: 64% English-only · Spanish 35%

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: ▼ -24.58%
• Current HPI: 210.495
• Rent YoY: ▲ 1.87%
• 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

+9.1% since first listed

12 events — show timeline

• 2026-01-22 Listed $180,000 LARMLS
• 2024-12-03 Rental Removed $750 RENTALBEAST
• 2024-11-27 Listed for Rent $750 RENTALBEAST
• 2024-11-17 Rental Removed $750 RENTALBEAST
• 2024-11-11 Price Changed $750 RENTALBEAST
• 2024-09-29 Price Changed $850 RENTALBEAST
• 2024-09-08 Price Changed $950 RENTALBEAST
• 2024-09-05 Listed for Rent $975 RENTALBEAST
• 2024-05-31 Sold (MLS) — LARMLS
• 2024-05-21 Pending — LARMLS
• 2024-03-06 Listed $165,000 LARMLS
• 2010-12-03 Sold (Public Records) — Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,545 · -2.6% YoY. Source: county tax records.