3705 Elmwood Ave · Lubbock, TX 79407

$129,750

3 bd · 2.0 ba · 1,378 sqft · SingleFamily public records · 6 Days on market

Built 1971 8,272 sqft lot Est $164k · 21% under

---

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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.9/10.0
• 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 MLS

Great For First Time Buyers or Investors! Nice 3/2/2 with Isolated Master and Spacious Family Room with Brick Fireplace. Kitchen has Abundant Cabinetry and Counter Space. Dining Area in Kitchen. Microwave, Refrigerator, and Stove will Stay. A Great Plus is the Work Bench in Garage! New Garage Door Openers. Large Backyard and Covered Patio are Perfect for Relaxing and Entertaining!

Key facts

• Well-located area
• Generous backyard
• 8,272 sq ft lot

Tags

• GENEROUS BACKYARD
• FUNCTIONAL FLOOR PLAN
• SPACIOUS LIVING AREAS
• WELL-LOCATED AREA

Property features AI

Exterior

• Parking: Attached 2-car garage; Driveway; Off-street parking
• Home design: Single-family residence; Single-story; Residential property
• Construction: Brick construction; Slab foundation; Composition roof; Built as a single-story home
• Exterior features: Private yard; Concrete road/driveway

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans for supplemental cooling
• Interior features: Beamed ceilings; Vaulted ceilings; Entrance foyer; Ceiling fans; Storage; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).

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: Hardwick El (math 47% / reading 42%, grade F, #1,155 of 4,322 statewide, top 29%, 574 students, 81% FRL); Mackenzie Middle (math 19% / reading 27%, grade F, #1,327 of 1,662 statewide, top 81%, 515 students, 88% FRL); Coronado H S (math 34% / reading 38%, grade F, #930 of 1,632 statewide, top 57%, 1,960 students, 66% FRL) — zoned schools average 78% FRL vs 60% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 613 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); 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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

• 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 $129,750

Questions for the listing agent

1. Built in 1971 — 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $163,982
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5751 37th St	0.24mi	3/2.0	1,388 (+1%)	17mo	$165,000	$119	73

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-14,793
• Equity at exit: $19,346

10-year hold

• IRR: -7.9%
• Equity multiple: 0.58×
• Total profit: $-15,407
• Equity at exit: $11,218

Cash invested: $36,330 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$680
• Tax from tax record: −$224 /mo · $2,692/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $162

Break-even live

Break-even rent $1,214

Max offer price $129,750

Occupancy floor 84%

Sensitivity live

Price	-10% $236	-5% $199	+0% $162	+5% $125	+10% $89
Rent	-10% $50	-5% $106	+0% $162	+5% $218	+10% $274
Rate	-1.0pp $228	-0.5pp $195	base $162	+0.5pp $129	+1.0pp $94

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: $32,438
• Closing costs: $3,892
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3705 Elkhart Ave Lubbock, TX	4.0	2.0	1507	$1,650	$1.09	23d	1	0.05mi
5604 38th St Lubbock, TX	3.0	2.0	1442	$1,400	$0.97	23d	1	0.15mi
5724 36th St Lubbock, TX	4.0	2.0	1696	$1,600	$0.94	46d	1	0.16mi
5416 36th St Lubbock, TX	3.0	2.0	1375	$1,295	$0.94	46d	1	0.27mi
5433 40th St Unit A Lubbock, TX	2.0	1.5	978	$800	$0.82	46d	1	0.32mi
5406 36th St Lubbock, TX	3.0	2.0	1400	$695	$0.50	46d	1	0.33mi
5415 42nd St Lubbock, TX	3.0	2.0	1417	$1,450	$1.02	23d	1	0.48mi
3201 W Loop 289 Lubbock, TX	1.0–2.0	1.0–2.0	771	$1,095	$1.42	46d	1	0.51mi
5318 39th St Lubbock, TX	3.0	2.0	1736	$1,375	$0.79	15d	1	0.53mi
5306 38th St Lubbock, TX	2.0	1.0	922	$825	$0.89	46d	1	0.61mi
5304 38th St Lubbock, TX	2.0	1.0	922	$825	$0.89	46d	1	0.62mi
5220 41st St Lubbock, TX	3.0	2.0	1536	$1,400	$0.91	23d	1	0.63mi
5214 38th St Lubbock, TX	2.0	1.0	922	$825	$0.89	46d	1	0.64mi
5702 50th St Lubbock, TX	1.0–3.0	1.0–2.0	809	$1,069	$1.32	15d	27	0.67mi
5440 48th St Lubbock, TX	4.0	3.0	1720	$1,750	$1.02	15d	1	0.67mi
2702 Frankford Ave Lubbock, TX	2.0	1.0	940	$888	$0.94	46d	1	0.70mi
6104 37th St Unit A Lubbock, TX	2.0	1.5	950	$780	$0.82	46d	1	0.75mi
6108 37th St Unit B Lubbock, TX	2.0	1.5	894	$799	$0.89	46d	1	0.78mi
6110 36th St Unit 7 Lubbock, TX	2.0	1.5	1636	$1,100	$0.67	23d	1	0.82mi
5501 50th St Lubbock, TX	1.0–3.0	1.0–2.0	1125	$1,549	$1.38	15d	7	0.85mi
5302 48th St Lubbock, TX	3.0	2.0	1368	$1,450	$1.06	23d	1	0.85mi
5024 35th St Lubbock, TX	3.0	2.0	1364	$1,300	$0.95	23d	1	0.88mi
5401 50th St Lubbock, TX	1.0–3.0	1.0–2.0	1018	$1,099	$1.08	15d	11	0.89mi
4705 Albany Ave Lubbock, TX	2.0	2.0	926	$742	$0.80	15d	5	0.90mi
5001 Chicago Ave Lubbock, TX	1.0–2.0	1.0–2.0	715	$1,019	$1.43	15d	15	0.90mi
5407 24th St Lubbock, TX	3.0	2.0	1208	$1,150	$0.95	15d	1	0.93mi
5101 44th St Lubbock, TX	3.0	2.0	1160	$1,350	$1.16	23d	1	0.93mi
5204 50th St Lubbock, TX	2.0–3.0	2.0	1050	$1,150	$1.10	15d	2	0.94mi
5202 Bangor Ave Lubbock, TX	2.0	1.5	1080	$987	$0.91	15d	11	0.96mi
5003 35th St Lubbock, TX	3.0	2.0	1501	$1,550	$1.03	15d	1	0.97mi
5017 46th St Lubbock, TX	3.0	2.0	1753	$1,600	$0.91	46d	1	1.02mi
4907 37th St Lubbock, TX	3.0	1.0	1000	$1,100	$1.10	46d	1	1.06mi
4907 36th St Lubbock, TX	2.0	1.0	1020	$1,095	$1.07	15d	1	1.07mi
5550 56th St Lubbock, TX	1.0–3.0	1.0–2.0	958	$1,260	$1.31	15d	21	1.08mi
4907 41st St Lubbock, TX	3.0	2.0	1196	$1,200	$1.00	46d	1	1.08mi
5402 22nd St Lubbock, TX	2.0	1.0	1234	$1,050	$0.85	46d	1	1.09mi
5002 46th St Lubbock, TX	3.0	2.0	1369	$1,450	$1.06	46d	1	1.09mi
5117 Albany Ave Lubbock, TX	3.0	2.0	1558	$1,500	$0.96	46d	1	1.09mi
4916 46th St Lubbock, TX	3.0	2.0	1377	$1,450	$1.05	15d	1	1.13mi
4817 40th St Lubbock, TX	3.0	2.0	1254	$1,300	$1.04	15d	1	1.13mi

Listing history 9 events

1. 2026-05-15
   listed $129,750 Active
2. 2018-04-18
   soldstatus 385-char remark

   Show marketing remark (385 chars)

   Great For First Time Buyers or Investors! Nice 3/2/2 with Isolated Master and Spacious Family Room with Brick Fireplace. Kitchen has Abundant Cabinetry and Counter Space. Dining Area in Kitchen. Microwave, Refrigerator, and Stove will Stay. A Great Plus is the Work Bench in Garage! New Garage Door Openers. Large Backyard and Covered Patio are Perfect for Relaxing and Entertaining!

3. 2018-04-18
   soldstatus

   Show marketing remark (385 chars)

   Great For First Time Buyers or Investors! Nice 3/2/2 with Isolated Master and Spacious Family Room with Brick Fireplace. Kitchen has Abundant Cabinetry and Counter Space. Dining Area in Kitchen. Microwave, Refrigerator, and Stove will Stay. A Great Plus is the Work Bench in Garage! New Garage Door Openers. Large Backyard and Covered Patio are Perfect for Relaxing and Entertaining!

4. 2018-02-26
   listed $110,000 385-char remark

   Show marketing remark (385 chars)

   Great For First Time Buyers or Investors! Nice 3/2/2 with Isolated Master and Spacious Family Room with Brick Fireplace. Kitchen has Abundant Cabinetry and Counter Space. Dining Area in Kitchen. Microwave, Refrigerator, and Stove will Stay. A Great Plus is the Work Bench in Garage! New Garage Door Openers. Large Backyard and Covered Patio are Perfect for Relaxing and Entertaining!

5. 2016-04-04
   soldstatus
6. 2016-04-04
   soldstatus
7. 2001-07-03
   soldstatus
8. 1985-08-01
   soldstatus
9. 1983-07-01
   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: $2,692 · $224/mo
• Projected year-2 tax: $2,692 · $224/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 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: $17,028
• − Mortgage interest: −$7,268
• − Property taxes: −$2,692
• − Insurance: −$649
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$3,775
• Taxable loss: −$80
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $1,966/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): 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

+18.0% since first listed

10 events — show timeline

• 2026-05-27 Pending — LARMLS
• 2026-05-15 Listed $129,750 LARMLS
• 2018-04-18 Sold (Public Records) — Public Records
• 2018-04-18 Sold (MLS) — LARMLS
• 2018-02-26 Listed $110,000 LARMLS
• 2016-04-04 Sold (Public Records) — Public Records
• 2016-04-04 Sold (Public Records) — Public Records
• 2001-07-03 Sold (Public Records) — Public Records
• 1985-08-01 Sold (Public Records) — Public Records
• 1983-07-01 Sold (Public Records) — Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,692 · -5.1% YoY. Source: county tax records.