5709 Colgate St · Lubbock, TX 79416

$214,990

3 bd · 2.0 ba · 1,208 sqft · MultiFamily

Built 2026 Excellent condition 6,325 sqft lot

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Schools +3.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Be the first to call this brand new 3 bedroom, 2 bathroom home with a 1 car garage your own. Featuring charming modern construction and a thoughtfully designed open-concept layout, this home offers a bright and inviting space for everyday living and entertaining. Located in a growing area just minutes from Texas Tech, the medical district, shopping, and dining, you'll enjoy both convenience and a fresh, new neighborhood feel. Secure your spot early and be among the first to experience everything Havenbrook has to offer!

Key facts

• 6,325 sq ft lot
• Garage
• Built 2026

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $215k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).

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: Centennial El (math 38% / reading 36%, grade F, #1,769 of 4,322 statewide, top 44%, 618 students, 84% 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 79% FRL vs 60% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 466 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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 $2,713/mo this rent would consume 51% of the median local household income ($64k/yr) (locally 2214% 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 $6k 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 + 2.2% rent growth), your $60k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 0 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 $214,990

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.11%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.21% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $4,941
• Equity at exit: $32,056

10-year hold

• IRR: 11.0%
• Equity multiple: 1.83×
• Total profit: $49,752
• Equity at exit: $18,588

Cash invested: $60,197 (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 79416

• Home prices YoY: -20.0%
• Rents YoY: 2.2%
• Active inventory: 466
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,713 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $658

Break-even live

Break-even rent $1,881

Max offer price $214,990

Occupancy floor 71%

Sensitivity live

Price	-10% $806	-5% $732	+0% $658	+5% $583	+10% $509
Rent	-10% $443	-5% $550	+0% $658	+5% $765	+10% $872
Rate	-1.0pp $766	-0.5pp $712	base $658	+0.5pp $602	+1.0pp $545

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,714
Total (2 units)			$2,713

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: $53,748
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5539 Auburn St Lubbock, TX	3.0	2.0	1107	$1,325	$1.20	45d	1	0.19mi
307 N Clinton Ave Lubbock, TX	3.0	3.0	1435	$1,225	$0.85	45d	1	0.23mi
511 N Clinton Ave Unit A Lubbock, TX	3.0	2.0	1400	$1,250	$0.89	45d	1	0.29mi
305 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1294	$1,200	$0.93	45d	1	0.29mi
505 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1435	$1,325	$0.92	45d	1	0.31mi
505 N Chicago Ave Lubbock, TX	3.0	3.0	1435	$1,425	$0.99	45d	1	0.31mi
523 N Clinton Ave Unit Clinton Side A Lubbock, TX	3.0	3.0	1435	$1,295	$0.90	22d	1	0.34mi
503 N Brentwood Ave Unit B Lubbock, TX	3.0	3.0	1370	$1,200	$0.88	45d	1	0.36mi
516 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1370	$1,200	$0.88	45d	1	0.37mi
310 N Brentwood Ave Unit B Lubbock, TX	3.0	3.0	1400	$1,250	$0.89	45d	1	0.39mi
522 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1370	$1,200	$0.88	45d	1	0.39mi
533 N Clinton Ave Unit B Lubbock, TX	3.0	3.0	1340	$1,300	$0.97	45d	1	0.39mi
610 N Elkhart Ave Unit B Lubbock, TX	2.0	1.0	1070	$875	$0.82	45d	1	0.40mi
702 N Englewood Ave Unit B Lubbock, TX	3.0	3.0	1317	$1,195	$0.91	45d	1	0.43mi
204 Genoa Ave Lubbock, TX	3.0	2.0	1400	$1,400	$1.00	15d	1	0.47mi
623 N Elkhart Ave Unit A Lubbock, TX	3.0	2.0	1340	$1,600	$1.19	15d	1	0.48mi
602 N Belmont Ave Lubbock, TX	3.0	3.0	1370	$1,325	$0.97	15d	3	0.58mi
5508 Itasca St Unit A Lubbock, TX	3.0	3.0	1445	$1,500	$1.04	45d	1	0.60mi
5914 Erskine St Lubbock, TX	2.0	2.0	1200	$1,250	$1.04	45d	1	0.61mi
5524 Itasca St Lubbock, TX	3.0	3.0	1360	$1,500	$1.10	22d	1	0.62mi
5513 Itasca St Lubbock, TX	3.0	3.0	1368	$1,500	$1.10	45d	1	0.62mi
5511 Itasca St Lubbock, TX	4.0	4.0	1348	$2,000	$1.48	15d	1	0.63mi
5516 Itasca St Lubbock, TX	3.0	3.0	1360	$1,500	$1.10	45d	1	0.63mi
5506 Itasca St Unit A Lubbock, TX	3.0	3.0	1445	$1,500	$1.04	45d	1	0.66mi
221 Grover Ave Lubbock, TX	3.0	2.0	1184	$1,295	$1.09	15d	1	0.66mi
5504 Itasca St Unit B Lubbock, TX	3.0	3.0	1445	$1,500	$1.04	45d	1	0.67mi
5708 Kemper St Unit 1 Lubbock, TX	3.0	3.0	1500	$1,450	$0.97	45d	1	0.67mi
5524 Jarvis St Unit B Lubbock, TX	3.0	2.0	1445	$1,400	$0.97	45d	1	0.68mi
5501 Jarvis St Unit A Lubbock, TX	3.0	2.0	1445	$1,450	$1.00	22d	1	0.69mi
1107 N Englewood Ave Unit B Lubbock, TX	3.0	2.0	1445	$1,325	$0.92	22d	1	0.69mi
1107 N Englewood Ave Unit 2 Lubbock, TX	3.0	2.0	1445	$1,325	$0.92	45d	1	0.69mi
1201 N Essex Ave Lubbock, TX	3.0	2.0	1450	$1,395	$0.96	22d	1	0.71mi
5515 Kemper St Unit A Lubbock, TX	3.0	2.0	1350	$1,425	$1.06	45d	1	0.72mi
5612 Kemper St Lubbock, TX	2.0	2.0	1468	$1,500	$1.02	15d	1	0.73mi
5525 4th St Lubbock, TX	1.0–2.0	1.0	765	$850	$1.11	45d	1	0.75mi
5525 4th St Lubbock, TX	2.0	1.0	835	$795	$0.95	46d	2	0.75mi
5549 Lehigh St Lubbock, TX	2.0	2.0	1500	$1,550	$1.03	22d	1	0.75mi
906 N Belmont Ave Lubbock, TX	3.0	3.0	1366	$1,225	$0.90	45d	1	0.76mi
5420 Kemper St Lubbock, TX	3.0	3.0	1381	$1,175	$0.85	45d	1	0.77mi
908 N Belmont Ave Unit A Lubbock, TX	3.0	3.0	1366	$1,175	$0.86	45d	1	0.77mi

Listing history 4 events

1. 2026-05-23
   historical $1,525
2. 2026-05-22
   listed $214,990
3. 2026-05-22
   historical
4. 2026-04-30
   listed $1,525

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $32,556
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − Depreciation: −$6,254
• Taxable income: $4,750
• Est. tax owed @ 24.0%: −$1,140
• After-tax cash flow: $6,750/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 · 8 photos

Excellent 95/100 None rehab

This brand new, move-in-ready home offers a modern, open-concept layout with excellent condition and minimal maintenance needs. Potential buyers and renters will appreciate the curb appeal and smart home features that can be added to further enhance its value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers or renters.
• Both Add smart home features — Improves convenience and could be a selling point for both buyers and renters.
• Both Paint exterior trim and doors — Fresh paint can make the home look more inviting and well-maintained.
• Both Install smart thermostat — Saves energy and can be a selling point for both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers or renters. ↑
• Both Add smart home features — Improves convenience and could be a selling point for both buyers and renters. ↑
• Both Paint exterior trim and doors — Fresh paint can make the home look more inviting and well-maintained. ↑
• Both Install smart thermostat — Saves energy and can be a selling point for both buyers and 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: 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): 36,442
• Household income: $63,896
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2214.0

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 0.62)
• Race & ethnicity: White 49% Hispanic / Latino 35% Two or more races 14% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Chinese 1% Tagalog/Filipino 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: ▼ -56.94%
• Current HPI: 227.7841
• Rent YoY: ▲ 2.21%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-23 Rental Removed $1,525 LARMLS
• 2026-05-22 Delisted — LARMLS
• 2026-05-22 Listed $214,990 LARMLS
• 2026-04-30 Listed for Rent $1,525 LARMLS