7450 10th St

Lubbock, TX 79416

$243,990D+

5 bd · 2.5 ba · 1,917 sqft · Built 2026 · Other · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,096/mo
• Mortgage (P&I): −$1,280
• Tax + insurance: −$144
• HOA: −$21
• Vac / Maint / Mgmt: −$440
• Net cashflow: $212/mo
• Annual: $2,543/yr
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• 1% rule: 0.86%
• Cash to close: $68,317

Investor read

• This is a 5-bed/2.5-bath other listed at $244k.
• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (14.1% below list).
• It's been on market 49 days — a 3% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $210k (14.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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.
• Frenship ISD (urban): math 47% / reading 54% proficiency, ranked #162 of 826 in TX (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Willow Bend El (math 34% / reading 41%, grade F, #1,744 of 4,322 statewide, top 41%, 730 students, 74% FRL); Terra Vista Middle (math 37% / reading 44%, grade F, #637 of 1,662 statewide, top 39%, 891 students, 66% FRL); Frenship H S (math 44% / reading 65%, grade C-, #379 of 1,632 statewide, top 26%, 3,247 students, 46% FRL) — zoned schools average 62% FRL vs 36% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 464 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 39% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.