2208 Avenue T Unit A-D · Lubbock, TX 79411

$195,000

8 bd · 6.0 ba · 3,554 sqft · MultiFamily · 153 Days on market

Built 1938 Fair condition 7,116 sqft lot ↓ 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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 MLS

Property is a quadruplex plus a 3/2 house

Key facts

• 7,116 sq ft lot
• Built 1938
• Listed 153 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $195k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (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; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $3,445/mo this rent would consume 87% 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 $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 + 1.9% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.77% ✓
• Cap rate: 14.75%
• Cash-on-cash: 30.20%
• DSCR: 2.34
• GRM: 4.7

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: 23.5%
• Equity multiple: 1.95×
• Total profit: $52,088
• Equity at exit: $29,075

10-year hold

• IRR: 30.7%
• Equity multiple: 3.61×
• Total profit: $142,711
• Equity at exit: $16,860

Cash invested: $54,600 (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: 18.9×

Monthly cashflow live

• Estimated rent: $3,445 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$723
• Net cashflow: $1,374

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$3,444
Total (4 units)			$3,445

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $195,000 Active 153 DOM
2. 2026-06-17
   days on market $195,000 Active 152 DOM
3. 2026-06-16
   days on market $195,000 Active 151 DOM
4. 2026-06-15
   days on market $195,000 Active 150 DOM
5. 2026-06-14
   days on market $195,000 Active 148 DOM
6. 2026-06-13
   days on market $195,000 Active 147 DOM
7. 2026-06-10
   days on market $195,000 Active 145 DOM
8. 2026-06-09
   days on market $195,000 Active 144 DOM
9. 2026-06-08
   days on market $195,000 Active 143 DOM
10. 2026-06-07
    days on market $195,000 Active 142 DOM
11. 2026-06-05
    days on market $195,000 Active 139 DOM
12. 2026-06-03
    days on market $195,000 Active 138 DOM
13. 2026-06-02
    days on market $195,000 Active 137 DOM
14. 2026-06-01
    days on market $195,000 Active 136 DOM
15. 2026-05-31
    days on market $195,000 Active 135 DOM
16. 2026-05-30
    days on market $195,000 Active 134 DOM
17. 2026-01-16
    price $195,000 41-char remark

    Show marketing remark (41 chars)

    Property is a quadruplex plus a 3/2 house

18. 2026-01-16
    listed $225,000 Active 41-char remark

    Show marketing remark (41 chars)

    Property is a quadruplex plus a 3/2 house

ⓘ 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 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: $41,340
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$3,307
• − Management: −$3,307
• − Depreciation: −$5,673
• Taxable income: $14,230
• Est. tax owed @ 24.0%: −$3,415
• After-tax cash flow: $13,072/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 · 2 photos

Fair 45/100 Moderate rehab

This quadruplex requires moderate renovations to improve its exterior and interior conditions, enhancing its resale and rental value.

Repairs flagged

• Major exterior siding — Significant peeling
• Major exterior paint — Peeling and worn
• Major flooring — Worn and uneven
• Major interior walls — Painted walls show wear

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair flooring — Improves living experience and value
• Both paint interior walls — Enhances interior appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant peeling	Major	$15,000–50,000
exterior paint · Peeling and worn	Major	$15,000–50,000
flooring · Worn and uneven	Major	$15,000–50,000
interior walls · Painted walls show wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair flooring — Improves living experience and value ↑
• Both paint interior walls — Enhances interior appearance and value ↑

ⓘ 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): 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

-13.3% since first listed

2 events — show timeline

• 2026-01-16 Price Changed $195,000 LARMLS
• 2026-01-16 Listed $225,000 LARMLS