1104 Huron Ave

Lubbock, TX 79416

$125,750B

4 bd · 3.0 ba · 1,665 sqft · Built 1981 · SingleFamily · Pending · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,655/mo
• Mortgage (P&I): −$659
• Tax + insurance: −$355
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $294/mo
• Annual: $3,525/yr
• Cap rate: 9.10%
• Cash-on-cash: 10.01%
• DSCR: 1.45
• 1% rule: 1.32%
• Cash to close: $35,210

Investor read

• This is a 4-bed/3.0-bath single-family listed at $126k.
• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• It's been on market 52 days — a 3% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $870 of loan paydown is wiped out by about $4k 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: North Ridge El (math 44% / reading 47%, grade D-, #1,112 of 4,322 statewide, top 26%, 738 students, 63% 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 58% FRL vs 36% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.9% of price.
• Market conditions: Rents rising (+2.2%/yr); 466 active listings in the ZIP; 40 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).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• This rent runs 31% 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 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.
• 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.