1504 E Ursuline St · Lubbock, TX 79403

$59,900

3 bd · 1.0 ba · 974 sqft · SingleFamily public records · 35 Days on market

Built 1955 8,233 sqft lot $61/sqft · 27% below area Est $82k · 27% under ↓ 25% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great Value Opportunity – Perfect for Homeowners or Investors! Great opportunity for homeowners looking to build equity with a little work or investors seeking their next project. This property offers solid potential with a functional layout and plenty of opportunity to update and customize to your liking. Ideal for a starter home, rental property, or fix-and-flip investment. Conveniently located in Lubbock near schools, shopping, dining, and major roadways. Property being sold as-is. Buyer to independently verify all information, measurements, schools, and utilities.

Key facts

• Near schools
• Near dining
• Near shopping

Tags

• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED
• NEAR SCHOOLS
• NEAR SHOPPING
• NEAR DINING
• NEAR MAJOR ROADWAYS

Property features AI

Finance

• Other: Parcel ID R105632; Subdivision: Clayton Carter; Directions: From NE Loop 289, turn left onto N Martin L King Blvd, then left onto E Ursuline St; destination will be on the left; County: Lubbock, United States
• Financial info: Listing accepts cash and conventional financing
• HOA & community: No homeowners association

Exterior

• Parking: Driveway; 1-car garage
• Utilities: Electricity available; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story; Not attached
• Construction: Built in 1955; Composition roof; Slab foundation
• Exterior features: Wood fencing; Lot less than 0.5 acre

Interior

• Kitchen: Gas range
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Two bedrooms total
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One-level layout; One living area and one dining area; Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (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-, 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: Williams El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 307 students, 76% FRL) — zoned schools average 76% FRL vs 60% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 165 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 + 1.5% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1955 — 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: 1.74% ✓
• Cap rate: 14.22%
• Cash-on-cash: 28.31%
• DSCR: 2.26
• GRM: 4.8

CMA / ARV

• ARV (median comp): $82,500
• List price: $59,900
• Delta: -27.39%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.8%
• Equity multiple: 1.83×
• Total profit: $13,989
• Equity at exit: $8,931

10-year hold

• IRR: 28.0%
• Equity multiple: 3.30×
• Total profit: $38,642
• Equity at exit: $5,179

Cash invested: $16,772 (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: 165
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,041 high
• Mortgage (P&I): −$314
• Tax from tax record: −$87 /mo · $1,048/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $396

Break-even live

Break-even rent $540

Max offer price $59,900

Occupancy floor 57%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 E Stanford St Lubbock, TX	3.0	1.0	910	$595	$0.65	21d	1	0.57mi
509 E Queens St Lubbock, TX	3.0	2.0	1090	$1,050	$0.96	43d	1	0.64mi
503 E Rice St Lubbock, TX	3.0	2.0	1103	$1,150	$1.04	21d	1	0.65mi
924 E Emory St Lubbock, TX	1.0–2.0	1.0–2.0	865	$1,008	$1.17	13d	8	1.06mi
506 E Municipal Dr Lubbock, TX	3.0	1.0	1065	$900	$0.85	43d	1	1.09mi
1726 E Dartmouth St Unit B Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	43d	1	1.28mi
1726 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1100	$1,000	$0.91	21d	1	1.28mi
1730 E Dartmouth St Unit A Lubbock, TX	3.0	1.0	1015	$695	$0.68	43d	1	1.28mi
1918 E Cornell St Lubbock, TX	3.0	2.0	1028	$1,080	$1.05	21d	1	1.33mi
2608 E Colgate St Lubbock, TX	3.0	1.0	990	$900	$0.91	43d	1	1.45mi

Listing history 21 events

1. 2026-06-18
   days on market $59,900 Active 35 DOM
2. 2026-06-17
   days on market $59,900 Active 34 DOM
3. 2026-06-16
   days on market $59,900 Active 33 DOM
4. 2026-06-15
   days on market $59,900 Active 32 DOM
5. 2026-06-14
   days on market $59,900 Active 30 DOM
6. 2026-06-13
   pricedays on market $59,900 Active 29 DOM
7. 2026-06-10
   days on market $69,000 Active 27 DOM
8. 2026-06-09
   days on market $69,000 Active 26 DOM
9. 2026-06-08
   days on market $69,000 Active 25 DOM
10. 2026-06-07
    days on market $69,000 Active 24 DOM
11. 2026-06-05
    days on market $69,000 Active 21 DOM
12. 2026-06-03
    days on market $69,000 Active 20 DOM
13. 2026-06-02
    days on market $69,000 Active 19 DOM
14. 2026-06-01
    days on market $69,000 Active 18 DOM
15. 2026-05-31
    days on market $69,000 Active 17 DOM
16. 2026-05-30
    days on market $69,000 Active 16 DOM
17. 2026-05-14
    listed $79,999 Active 585-char remark
18. 2026-04-08
    soldstatus
19. 2025-02-03
    soldstatus
20. 1994-01-01
    soldstatus
21. 1988-09-01
    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: $1,048 · $87/mo
• Projected year-2 tax: $1,096 · $91/mo
• Expected delta: +$48/yr (+$4/mo · 4.6%)

ⓘ 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 6 d/yr ≥100°F today · 18 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: $12,487
• − Mortgage interest: −$3,355
• − Property taxes: −$1,048
• − Insurance: −$300
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$1,743
• Taxable income: $4,044
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $3,777/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

-25.1% since first listed

7 events — show timeline

• 2026-06-13 Price Changed $59,900 NTREIS
• 2026-05-21 Price Changed $69,000 NTREIS
• 2026-05-14 Listed $79,999 NTREIS
• 2026-04-08 Sold (Public Records) — Public Records
• 2025-02-03 Sold (Public Records) — Public Records
• 1994-01-01 Sold (Public Records) — Public Records
• 1988-09-01 Sold (Public Records) — Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,048 · +7.2% YoY. Source: county tax records.