922 44th St · Lubbock, TX 79412

$450,000

1 bd · 1.0 ba · 5,248 sqft · MultiFamily public records · 125 Days on market

Built 1969 0.30 ac lot

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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
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. 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

8 Total Units (2 Quadplexes) - Sold as a Package: Excellent opportunity to acquire a performing 8-unit multifamily package in South Lubbock. This offering includes two adjacent quadplexes located at 922 44th Street and 924 44th Street, providing operational efficiency and streamlined management. Currently all 8 units are leased (100% occupied), delivering immediate income. This asset presents a strong blend of in-place cash flow and value-add potential for investors seeking stable returns in a consistent rental market.

Key facts

• 0.3 acre lot
• Built 1969
• Listed 125 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $450k).
• Recommended offer: $396k (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; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $5,528/mo this rent would consume 136% 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 $3k of loan paydown is wiped out by about $14k 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 + 3.9% rent growth), your $126k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago 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.

Risks & watch-outs

• 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 $396,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.26%
• DSCR: 1.59
• GRM: 6.8

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $20,622
• Equity at exit: $67,096

10-year hold

• IRR: 14.5%
• Equity multiple: 2.21×
• Total profit: $152,510
• Equity at exit: $38,908

Cash invested: $126,000 (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 79412

• Home prices YoY: -15.3%
• Rents YoY: 3.9%
• Active inventory: 110
• Price-to-rent: 54.3×

Monthly cashflow live

• Estimated rent: $5,528 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$428 /mo · $5,133/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,161
• Net cashflow: $1,392

Break-even live

Break-even rent $3,766

Max offer price $450,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,647	-5% $1,519	+0% $1,392	+5% $1,265	+10% $1,137
Rent	-10% $955	-5% $1,174	+0% $1,392	+5% $1,610	+10% $1,829
Rate	-1.0pp $1,619	-0.5pp $1,507	base $1,392	+0.5pp $1,275	+1.0pp $1,157

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$5,528
Total (8 units)			$5,528

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $450,000 Active 125 DOM
2. 2026-06-17
   days on market $450,000 Active 124 DOM
3. 2026-06-16
   days on market $450,000 Active 123 DOM
4. 2026-06-15
   days on market $450,000 Active 122 DOM
5. 2026-06-14
   days on market $450,000 Active 120 DOM
6. 2026-06-13
   days on market $450,000 Active 119 DOM
7. 2026-06-10
   days on market $450,000 Active 117 DOM
8. 2026-06-09
   days on market $450,000 Active 116 DOM
9. 2026-06-08
   days on market $450,000 Active 115 DOM
10. 2026-06-07
    days on market $450,000 Active 114 DOM
11. 2026-06-05
    days on market $450,000 Active 111 DOM
12. 2026-06-03
    days on market $450,000 Active 110 DOM
13. 2026-06-02
    days on market $450,000 Active 109 DOM
14. 2026-06-01
    days on market $450,000 Active 108 DOM
15. 2026-05-31
    days on market $450,000 Active 107 DOM
16. 2026-05-30
    days on market $450,000 Active 106 DOM
17. 2026-02-10
    listed $450,000 Active 525-char remark

    Show marketing remark (525 chars)

    8 Total Units (2 Quadplexes) - Sold as a Package: Excellent opportunity to acquire a performing 8-unit multifamily package in South Lubbock. This offering includes two adjacent quadplexes located at 922 44th Street and 924 44th Street, providing operational efficiency and streamlined management. Currently all 8 units are leased (100% occupied), delivering immediate income. This asset presents a strong blend of in-place cash flow and value-add potential for investors seeking stable returns in a consistent rental market.

18. 2018-06-29
    soldstatus
19. 2018-06-29
    soldstatus
20. 2017-05-24
    soldstatus
21. 2017-05-10
    soldstatus
22. 2017-05-08
    soldstatus 329-char remark

    Show marketing remark (329 chars)

    The list price is for 8 total units. This property must be purchased as a group of 8 units, 922 44th and 924 44th, total price of $185,000. All units are rented. Owner pays water bill, tenants pay all other bills. All units have heat and a/c. Both quads have a BRAND NEW ROOF!!! The gross monthly rent is $3,350. Cap rate of 18%.

23. 2017-01-17
    listed $185,000 329-char remark

    Show marketing remark (329 chars)

    The list price is for 8 total units. This property must be purchased as a group of 8 units, 922 44th and 924 44th, total price of $185,000. All units are rented. Owner pays water bill, tenants pay all other bills. All units have heat and a/c. Both quads have a BRAND NEW ROOF!!! The gross monthly rent is $3,350. Cap rate of 18%.

24. 2007-08-15
    soldstatus
25. 2007-08-15
    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: $5,133 · $428/mo
• Projected year-2 tax: $8,235 · $686/mo
• Expected delta: +$3,102/yr (+$259/mo · 60.4%)

ⓘ 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 ≥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: $66,336
• − Mortgage interest: −$25,207
• − Property taxes: −$5,133
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,307
• − Management: −$5,307
• − Depreciation: −$13,091
• Taxable income: $10,042
• Est. tax owed @ 24.0%: −$2,410
• After-tax cash flow: $14,295/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

+143.2% since first listed

9 events — show timeline

• 2026-02-10 Listed $450,000 LARMLS
• 2018-06-29 Sold (Public Records) — Public Records
• 2018-06-29 Sold (Public Records) — Public Records
• 2017-05-24 Sold (Public Records) — Public Records
• 2017-05-10 Sold (Public Records) — Public Records
• 2017-05-08 Sold (MLS) — LARMLS
• 2017-01-17 Listed $185,000 LARMLS
• 2007-08-15 Sold (Public Records) — Public Records
• 2007-08-15 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $5,133 · -2.6% YoY. Source: county tax records.