2101 35th St · Lubbock, TX 79412

$198,000

4 bd · 2.0 ba · 2,050 sqft · MultiFamily public records · 577 Days on market

Built 1956 8,531 sqft lot

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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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

1% RULE ALERT!! Check out this updated duplex near Tech, shopping, schools, food, and so much more! This Duplex has 3 bedrooms and 1 bathroom on each side with a covered carport on each side as well. With one side currently vacant there is opportunity to live in one side while the other pays rent or lease both sides and cashflow! Side B pays $1050 per month while side A previously did as well making this a great 1% rule property. Dont miss out on your chance to add to your rental portfolio, contact your favorite realtor for a showing today!

Key facts

• 8,531 sq ft lot
• 2 parking spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $198k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive. Per door: $115/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $174k (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 (+3.9%/yr); 110 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); 50% 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 $1,983/mo this rent would consume 49% of the median local household income ($49k/yr) (locally 676% 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.

Negotiation context

• It's been on market 577 days — a 12% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $174,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 577 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.00% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-15,695
• Equity at exit: $29,522

10-year hold

• IRR: 3.0%
• Equity multiple: 1.23×
• Total profit: $12,524
• Equity at exit: $17,119

Cash invested: $55,440 (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: 16.6×

Monthly cashflow live

• Estimated rent: $1,983 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$216 /mo · $2,593/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $230

Break-even live

Break-even rent $1,692

Max offer price $198,000

Occupancy floor 83%

Sensitivity live

Price	-10% $342	-5% $286	+0% $230	+5% $174	+10% $118
Rent	-10% $73	-5% $151	+0% $230	+5% $308	+10% $386
Rate	-1.0pp $329	-0.5pp $280	base $230	+0.5pp $178	+1.0pp $126

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,982
Total (2 units)			$1,983

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2215 36th St Lubbock, TX	3.0	2.0	1578	$1,450	$0.92	44d	1	0.21mi
2403 38th St Lubbock, TX	3.0	1.5	1786	$1,700	$0.95	44d	1	0.42mi
2220 29th St Lubbock, TX	3.0	2.0	2032	$1,300	$0.64	44d	1	0.47mi
1718 43rd St Lubbock, TX	4.0	2.0	1870	$1,075	$0.57	22d	1	0.53mi
2508 37th St Lubbock, TX	3.0	2.5	1495	$1,700	$1.14	44d	1	0.54mi
2416 30th St Lubbock, TX	3.0	2.0	1746	$1,425	$0.82	22d	1	0.54mi
2319 28th St Lubbock, TX	4.0	2.0	2146	$1,650	$0.77	22d	1	0.56mi
2430 31st St Lubbock, TX	3.0	2.0	1592	$1,450	$0.91	44d	1	0.57mi
2601 33rd St Lubbock, TX	3.0	2.0	1894	$1,800	$0.95	22d	1	0.64mi
2518 30th St Lubbock, TX	4.0	2.0	1558	$1,750	$1.12	22d	1	0.70mi
2311 25th St Lubbock, TX	4.0	2.0	1400	$1,400	$1.00	22d	1	0.72mi
2614 31st St Lubbock, TX	3.0	2.0	1549	$1,650	$1.07	44d	1	0.75mi
2609 41st St Lubbock, TX	3.0	2.0	1469	$1,550	$1.06	22d	1	0.76mi
2613 30th St Lubbock, TX	3.0	2.0	1472	$1,500	$1.02	44d	1	0.77mi
2118 24th St Lubbock, TX	3.0	1.0	1435	$1,000	$0.70	22d	1	0.77mi
2107 48th St Lubbock, TX	3.0	1.0	1956	$1,200	$0.61	44d	1	0.80mi
2009 23rd St Lubbock, TX	3.0	1.0	1615	$1,249	$0.77	44d	1	0.81mi
1716 24th St Lubbock, TX	4.0	2.0	1742	$1,850	$1.06	44d	1	0.84mi
1517 25th St Lubbock, TX	3.0	2.0	1514	$1,095	$0.72	22d	1	0.84mi
2801 36th St Lubbock, TX	3.0	2.0	1446	$2,700	$1.87	44d	1	0.87mi
2701 27th St Lubbock, TX	3.0	2.0	1569	$1,800	$1.15	44d	1	0.93mi
1912 21st St Lubbock, TX	3.0	2.0	1473	$1,025	$0.70	44d	1	1.00mi
2402 21st St Lubbock, TX	3.0	1.0	1453	$1,500	$1.03	44d	1	1.00mi
2124 20th St Lubbock, TX	3.0	2.0	1481	$1,150	$0.78	14d	1	1.04mi
2104 20th St Lubbock, TX	4.0	2.0	1796	$1,700	$0.95	22d	1	1.04mi
2605 22nd St Lubbock, TX	3.0	2.0	2260	$1,960	$0.87	44d	1	1.06mi
1912 20th St Unit A Lubbock, TX	3.0	2.0	1590	$1,000	$0.63	22d	1	1.06mi
3019 33rd St Lubbock, TX	3.0	1.5	1573	$1,500	$0.95	14d	1	1.11mi
2629 22nd St Lubbock, TX	5.0	2.0	2218	$1,399	$0.63	44d	1	1.14mi
3108 39th St Lubbock, TX	3.0	2.0	1504	$1,295	$0.86	22d	1	1.18mi
3115 32nd St Lubbock, TX	4.0	2.5	2300	$2,200	$0.96	22d	1	1.23mi
3114 40th St Lubbock, TX	3.0	2.0	1488	$1,375	$0.92	44d	1	1.24mi
1607 Avenue Y Unit Y Lubbock, TX	4.0	2.0	1532	$2,100	$1.37	14d	1	1.30mi
2121 56th St Lubbock, TX	3.0	2.0	2047	$1,999	$0.98	22d	1	1.31mi
2220 16th St Lubbock, TX	3.0	2.0	1414	$1,300	$0.92	22d	1	1.33mi
2119 15th St Lubbock, TX	3.0	2.0	1600	$1,400	$0.88	44d	1	1.35mi
3119 26th St Lubbock, TX	3.0	3.0	1888	$1,400	$0.74	22d	1	1.36mi
2703 54th St Lubbock, TX	5.0	2.0	2116	$2,000	$0.95	44d	1	1.38mi
3302 28th St Lubbock, TX	3.0	2.5	1660	$1,725	$1.04	22d	1	1.45mi
2310 59th St Lubbock, TX	3.0	2.5	2637	$1,900	$0.72	44d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $198,000 Active 577 DOM
2. 2026-06-17
   days on market $198,000 Active 576 DOM
3. 2026-06-16
   days on market $198,000 Active 575 DOM
4. 2026-06-15
   days on market $198,000 Active 574 DOM
5. 2026-06-14
   days on market $198,000 Active 572 DOM
6. 2026-06-13
   days on market $198,000 Active 571 DOM
7. 2026-06-10
   days on market $198,000 Active 569 DOM
8. 2026-06-09
   days on market $198,000 Active 568 DOM
9. 2026-06-08
   days on market $198,000 Active 567 DOM
10. 2026-06-07
    days on market $198,000 Active 566 DOM
11. 2026-06-05
    days on market $198,000 Active 563 DOM
12. 2026-06-03
    days on market $198,000 Active 562 DOM
13. 2026-06-02
    days on market $198,000 Active 561 DOM
14. 2026-06-01
    days on market $198,000 Active 560 DOM
15. 2026-05-31
    days on market $198,000 Active 559 DOM
16. 2026-05-30
    days on market $198,000 Active 558 DOM
17. 2024-12-13
    price $198,000 546-char remark

    Show marketing remark (546 chars)

    1% RULE ALERT!! Check out this updated duplex near Tech, shopping, schools, food, and so much more! This Duplex has 3 bedrooms and 1 bathroom on each side with a covered carport on each side as well. With one side currently vacant there is opportunity to live in one side while the other pays rent or lease both sides and cashflow! Side B pays $1050 per month while side A previously did as well making this a great 1% rule property. Dont miss out on your chance to add to your rental portfolio, contact your favorite realtor for a showing today!

18. 2024-11-18
    listed $210,000 Active 546-char remark

    Show marketing remark (546 chars)

    1% RULE ALERT!! Check out this updated duplex near Tech, shopping, schools, food, and so much more! This Duplex has 3 bedrooms and 1 bathroom on each side with a covered carport on each side as well. With one side currently vacant there is opportunity to live in one side while the other pays rent or lease both sides and cashflow! Side B pays $1050 per month while side A previously did as well making this a great 1% rule property. Dont miss out on your chance to add to your rental portfolio, contact your favorite realtor for a showing today!

19. 2022-02-01
    soldstatus 177-char remark

    Show marketing remark (177 chars)

    Investment opportunity!! Awesome opportunity to add a duplex to your portfolio. Property is sold as-is. Please ask listing agent for more interior photos or any other questions.

20. 2022-01-28
    soldstatus
21. 2021-12-15
    listed $110,000 177-char remark

    Show marketing remark (177 chars)

    Investment opportunity!! Awesome opportunity to add a duplex to your portfolio. Property is sold as-is. Please ask listing agent for more interior photos or any other questions.

22. 2018-09-13
    soldstatus
23. 2018-09-04
    soldstatus
24. 2018-06-22
    listed $99,900
25. 2005-08-22
    soldstatus
26. 2003-12-01
    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: $2,593 · $216/mo
• Projected year-2 tax: $3,623 · $302/mo
• Expected delta: +$1,031/yr (+$86/mo · 39.7%)

ⓘ 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: $23,796
• − Mortgage interest: −$11,091
• − Property taxes: −$2,593
• − Insurance: −$990
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − Depreciation: −$5,760
• Taxable loss: −$445
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $2,863/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

+98.2% since first listed

10 events — show timeline

• 2024-12-13 Price Changed $198,000 LARMLS
• 2024-11-18 Listed $210,000 LARMLS
• 2022-02-01 Sold (MLS) — LARMLS
• 2022-01-28 Sold (Public Records) — Public Records
• 2021-12-15 Listed $110,000 LARMLS
• 2018-09-13 Sold (Public Records) — Public Records
• 2018-09-04 Sold (MLS) — LARMLS
• 2018-06-22 Listed $99,900 LARMLS
• 2005-08-22 Sold (Public Records) — Public Records
• 2003-12-01 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,593 · +10.7% YoY. Source: county tax records.