1937 E Colgate St · Lubbock, TX 79403

$100,000

3 bd · 2.0 ba · 1,331 sqft · SingleFamily public records · 4 Days on market

Built 1961 7,280 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible opportunity to acquire a turn-key, remodeled 6-property rental portfolio offering immediate cash flow and minimal future CapEx. Five homes are fully remodeled and tenant-occupied with updated interiors, solid rental history, and proven performance. One property is recently remodeled and move-in ready for lease-up or owner use. Each home features updated flooring, modern kitchens and baths, fresh paint, and improved mechanicals. Perfect for out-of-state investors, 1031 exchange buyers, or anyone looking for stable, low-maintenance rentals from day one. Portfolio can be purchased only as a package—no individual sales. Financials, rent rolls, and additional details available upon request.

Key facts

• Recently remodeled
• Fireplace
• 7,280 sq ft lot

Tags

• FIREPLACE
• RECENTLY REMODELED

Property features AI

Finance

• Other: Annual tax information available

Exterior

• Parking: Driveway
• Utilities: Gas water heater
• Home design: Single-family residence; Residential property
• Construction: Brick veneer exterior; Composition roof; Slab foundation; Built area approximately 1,331
• Exterior features: Chain link fencing; Asphalt road access; No additional exterior features listed

Interior

• Kitchen: Gas range; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Fireplace heating
• Interior features: Ceiling fan(s); Wood-burning fireplace (1)
• Laundry & utility: In-unit laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

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: Alderson El (math 22% / reading 17%, grade F, #3,583 of 4,322 statewide, top 86%, 439 students, 99% FRL, charter); Dunbar College Preparatory Academy (math 16% / reading 20%, grade F, #1,491 of 1,662 statewide, top 91%, 430 students, 97% FRL, charter); Estacado H S (math 26% / reading 29%, grade F, #1,183 of 1,632 statewide, top 73%, 897 students, 90% FRL) — zoned schools average 95% FRL vs 60% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 38% district-wide (-16 pts) — the specific schools serving this property underperform the Lubbock ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.5%/yr); 166 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 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.

Negotiation context

• Only 4 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.
• Current owner paid $20k; list at $100k implies a 394% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1961 — 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: 1.11% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.36%
• DSCR: 1.46
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.52% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-2,464
• Equity at exit: $14,910

10-year hold

• IRR: 5.7%
• Equity multiple: 1.40×
• Total profit: $11,102
• Equity at exit: $8,646

Cash invested: $28,000 (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 79403

• Home prices YoY: -9.0%
• Rents YoY: 1.5%
• Active inventory: 166
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,112 high
• Mortgage (P&I): −$524
• Tax from tax record: −$71 /mo · $851/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $242

Break-even live

Break-even rent $806

Max offer price $100,000

Occupancy floor 73%

Sensitivity live

Price	-10% $298	-5% $270	+0% $242	+5% $213	+10% $185
Rent	-10% $154	-5% $198	+0% $242	+5% $286	+10% $329
Rate	-1.0pp $292	-0.5pp $267	base $242	+0.5pp $216	+1.0pp $189

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Zenith Ave Lubbock, TX	3.0	2.0	1298	$1,164	$0.90	15d	1	0.04mi
1933 E Colgate St Lubbock, TX	4.0	1.0	1310	$795	$0.61	23d	1	0.04mi
306 Zenith Ave Lubbock, TX	3.0	2.0	1298	$1,165	$0.90	23d	1	0.06mi
2608 E Colgate St Lubbock, TX	3.0	1.0	990	$900	$0.91	45d	1	0.06mi
1918 E Cornell St Lubbock, TX	3.0	2.0	1028	$1,080	$1.05	23d	1	0.14mi
2624 E Cornell St Lubbock, TX	3.0	2.0	1298	$1,330	$1.02	15d	1	0.17mi
2612 E Auburn St Lubbock, TX	4.0	2.0	1196	$1,095	$0.92	23d	1	0.22mi
1730 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1015	$695	$0.68	45d	1	0.32mi
1828 E 1st St Lubbock, TX	3.0	1.0	1011	$695	$0.69	23d	1	0.33mi
1808 E Auburn St Lubbock, TX	3.0	2.0	1172	$1,100	$0.94	23d	1	0.33mi
2912 E Baylor St Lubbock, TX	3.0	2.0	1176	$900	$0.77	45d	1	0.34mi
2912 E Baylor St Lubbock, TX	3.0	2.0	1176	$695	$0.59	23d	1	0.34mi
1726 E Dartmouth St Unit B Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	45d	1	0.34mi
1726 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	23d	1	0.34mi
2924 E Cornell St Lubbock, TX	3.0	2.0	1247	$1,150	$0.92	23d	1	0.37mi
3116 E Cornell St Lubbock, TX	3.0	2.0	1125	$1,150	$1.02	23d	1	0.45mi
1809 E 2nd St Lubbock, TX	4.0	2.0	1203	$1,000	$0.83	45d	1	0.46mi
3118 E Cornell St Lubbock, TX	3.0	2.0	1125	$1,150	$1.02	23d	1	0.46mi
1702 E Dartmouth St Lubbock, TX	3.0	2.0	1172	$1,100	$0.94	23d	1	0.47mi
1711 E 1st St Lubbock, TX	3.0	2.0	1124	$900	$0.80	23d	1	0.48mi
1802 E 2nd St Lubbock, TX	4.0	1.0	1096	$695	$0.63	23d	1	0.51mi
1802 E 2nd St Lubbock, TX	4.0	1.0	1096	$875	$0.80	45d	1	0.51mi
2721 E 3rd St Lubbock, TX	3.0	2.0	1172	$1,050	$0.90	15d	1	0.53mi
3305 E Cornell St Lubbock, TX	3.0	2.0	1670	$1,000	$0.60	15d	1	0.56mi
924 E Emory St Lubbock, TX	1.0–2.0	1.0–2.0	865	$1,008	$1.17	15d	8	0.64mi
3016 E 3rd St Lubbock, TX	3.0	1.0	978	$695	$0.71	23d	1	0.68mi
411 David Ave Lubbock, TX	3.0	2.0	1204	$1,200	$1.00	15d	1	0.80mi
602 Walnut Ave Lubbock, TX	3.0	2.0	1172	$1,100	$0.94	45d	1	0.81mi
804 David Ave Lubbock, TX	3.0	2.0	1028	$1,049	$1.02	15d	1	1.05mi
1516 E 8th St Lubbock, TX	3.0	2.0	1172	$1,050	$0.90	23d	1	1.07mi
3611 E 3rd Pl Lubbock, TX	3.0	2.0	1154	$1,199	$1.04	45d	1	1.08mi
2211 E Main St Lubbock, TX	3.0	2.0	1172	$1,100	$0.94	45d	1	1.10mi
1014 David Ave Lubbock, TX	3.0	2.0	1028	$1,030	$1.00	15d	1	1.11mi
2226 E Main St Lubbock, TX	3.0	2.0	1100	$1,150	$1.05	45d	1	1.12mi
2206 E Main St Lubbock, TX	3.0	2.0	1152	$975	$0.85	46d	1	1.13mi
2123 E Broadway Unit 2 Lubbock, TX	3.0	1.0	963	$950	$0.99	23d	1	1.15mi
2117 E Broadway Unit 1 Lubbock, TX	3.0	1.0	963	$950	$0.99	45d	1	1.15mi
506 E Municipal Dr Lubbock, TX	3.0	1.0	1065	$900	$0.85	45d	1	1.29mi
1903 E 15th St Unit B Lubbock, TX	2.0	2.0	950	$1,075	$1.13	15d	1	1.41mi

Listing history 3 events

1. 2026-06-22
   days on market $100,000 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $100,000 Active 1 DOM

ⓘ 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: $851 · $71/mo
• Projected year-2 tax: $1,830 · $152/mo
• Expected delta: +$979/yr (+$82/mo · 114.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,347
• − Mortgage interest: −$5,602
• − Property taxes: −$851
• − Insurance: −$500
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$2,909
• Taxable income: $1,349
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $2,576/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): 16,089
• Household income: $47,907
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 612.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 26% Black 23% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 74% English-only · Spanish 25%

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: ▼ -17.69%
• Current HPI: 178.9297
• Rent YoY: ▲ 1.52%
• 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

+393.8% since first listed

8 events — show timeline

• 2026-06-17 Listed $100,000 LARMLS
• 2026-02-06 Sold (MLS) — LARMLS
• 2025-12-31 Pending — LARMLS
• 2025-12-03 Price Changed $99,000 LARMLS
• 2025-11-18 Price Changed $86,000 LARMLS
• 2025-10-16 Listed $72,000 LARMLS
• 2011-06-02 Sold (Public Records) — Public Records
• 2007-09-06 Sold (Public Records) $20,250 Public Records

Property tax history

+5.5%/yr

Latest (2025): $851 · -5.5% YoY. Source: county tax records.