2406 32nd St · Lubbock, TX 79411

$90,000

3 bd · 2.0 ba · 1,317 sqft · SingleFamily public records · 53 Days on market

Built 1943 8,398 sqft lot ↓ 5% since listing

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks

This cozy home is considered a 3 bedroom two bath home. The third bedroom was previously a garage and has washer dryer connections inside. There is also a spacious backyard with mature trees. This property boasts lots of potential and would be the perfect fixer upper opportunity. It is less than 10 mins from Tech and right off university, providing convenient access to food, shopping, and schools. The property is vacant for easy showing.

Key facts

• Spacious backyard
• Mature trees
• 8,398 sq ft lot

Tags

• SPACIOUS BACKYARD
• MATURE TREES
• WASHER DRYER CONNECTIONS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 31% of the median local income ($48k/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 $622 of loan paydown is wiped out by about $3k 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 + 1.9% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• 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 $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.35% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 6.2

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $1,823
• Equity at exit: $13,419

10-year hold

• IRR: 10.3%
• Equity multiple: 1.76×
• Total profit: $19,144
• Equity at exit: $7,782

Cash invested: $25,200 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$472
• Tax from tax record: −$173 /mo · $2,079/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $278

Break-even live

Break-even rent $864

Max offer price $90,000

Occupancy floor 72%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2411 31st St Lubbock, TX	3.0	1.0	1003	$1,000	$1.00	21d	1	0.08mi
2315 32nd St Lubbock, TX	2.0	1.0	900	$995	$1.11	21d	1	0.08mi
2419 31st St Apt B Lubbock, TX	2.0	1.0	878	$795	$0.91	13d	1	0.10mi
2430 31st St Lubbock, TX	3.0	2.0	1592	$1,450	$0.91	43d	1	0.16mi
2416 30th St Lubbock, TX	3.0	2.0	1746	$1,425	$0.82	21d	1	0.17mi
2408 35th St Lubbock, TX	2.0	1.0	1072	$995	$0.93	21d	1	0.17mi
2420 30th St Lubbock, TX	2.0	1.0	1092	$1,100	$1.01	21d	1	0.18mi
2211 33rd St Unit A Lubbock, TX	3.0	1.5	1293	$1,200	$0.93	43d	1	0.23mi
2217 36th St Lubbock, TX	3.0	1.0	1284	$1,109	$0.86	13d	1	0.29mi
2215 36th St Lubbock, TX	3.0	2.0	1578	$1,450	$0.92	43d	1	0.29mi
2518 30th St Lubbock, TX	4.0	2.0	1558	$1,750	$1.12	21d	1	0.30mi
2119 32nd St Lubbock, TX	2.0	1.0	1055	$950	$0.90	43d	1	0.32mi
2506 37th St Lubbock, TX	3.0	1.0	1053	$1,550	$1.47	21d	1	0.34mi
2508 37th St Lubbock, TX	3.0	2.5	1495	$1,700	$1.14	43d	1	0.34mi
2404 27th St Lubbock, TX	4.0	2.0	1250	$1,349	$1.08	43d	1	0.35mi
2614 31st St Lubbock, TX	3.0	2.0	1549	$1,650	$1.07	43d	1	0.36mi
2613 30th St Lubbock, TX	3.0	2.0	1472	$1,500	$1.02	43d	1	0.37mi
2107 35th St Unit A Lubbock, TX	2.0	1.0	1025	$800	$0.78	43d	1	0.37mi
2403 38th St Lubbock, TX	3.0	1.5	1786	$1,700	$0.95	43d	1	0.38mi
2106 32nd St Lubbock, TX	3.0	1.0	1398	$695	$0.50	21d	1	0.38mi
2106 32nd St Lubbock, TX	3.0	1.0	1398	$925	$0.66	43d	1	0.39mi
2201 28th St Lubbock, TX	3.0	1.0	1246	$995	$0.80	21d	1	0.39mi
2602 28th St Lubbock, TX	2.0	1.0	937	$1,095	$1.17	21d	1	0.39mi
2103 33rd St Lubbock, TX	2.0	1.0	1075	$700	$0.65	13d	1	0.39mi
2421 25th St Lubbock, TX	3.0	2.0	1032	$1,575	$1.53	21d	1	0.44mi
2512 26th St Unit 1706 Lubbock, TX	2.0	2.0	986	$700	$0.71	43d	1	0.45mi
2003 32nd St Unit A Lubbock, TX	2.0	2.0	1228	$1,150	$0.94	43d	1	0.46mi
2616 37th St Lubbock, TX	2.0	1.0	950	$1,200	$1.26	21d	1	0.46mi
2404 25th St Lubbock, TX	3.0	2.0	1292	$1,395	$1.08	21d	1	0.46mi
2108 38th St Lubbock, TX	3.0	2.0	1124	$900	$0.80	43d	1	0.47mi
2115 27th St Unit A Lubbock, TX	2.0	1.0	1148	$875	$0.76	21d	1	0.48mi
2311 25th St Lubbock, TX	4.0	2.0	1400	$1,400	$1.00	21d	1	0.48mi
2606 26th St Lubbock, TX	2.0	1.0	1162	$1,395	$1.20	43d	1	0.49mi
1919 34th St Lubbock, TX	2.0	2.0	1463	$1,100	$0.75	13d	1	0.51mi
2701 27th St Lubbock, TX	3.0	2.0	1569	$1,800	$1.15	43d	1	0.53mi
2712 37th St Lubbock, TX	3.0	1.0	1136	$1,300	$1.14	43d	1	0.53mi
2220 25th St Lubbock, TX	4.0	1.0	1077	$695	$0.65	21d	1	0.54mi
2405 23rd St Lubbock, TX	2.0	1.0	1042	$895	$0.86	21d	1	0.55mi
2123 25th St Unit rear Lubbock, TX	3.0	1.0	1000	$950	$0.95	43d	1	0.55mi
2007 27th St Lubbock, TX	2.0	1.0	1044	$1,250	$1.20	43d	1	0.56mi

Listing history 3 events

1. 2025-07-11
   status Pending
2. 2025-06-11
   price $90,000
3. 2025-05-19
   listed $95,000 Active

ⓘ 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: $2,079 · $173/mo
• Projected year-2 tax: $2,079 · $173/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: $14,597
• − Mortgage interest: −$5,041
• − Property taxes: −$2,079
• − Insurance: −$450
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$2,618
• Taxable income: $2,072
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $2,841/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

-5.3% since first listed

3 events — show timeline

• 2025-07-11 Pending — LARMLS
• 2025-06-11 Price Changed $90,000 LARMLS
• 2025-05-19 Listed $95,000 LARMLS

Property tax history

+3.4%/yr

Latest (2025): $2,079 · -2.6% YoY. Source: county tax records.