606 Bangor Ave · Lubbock, TX 79416

$150,000

3 bd · 2.0 ba · 1,203 sqft · SingleFamily public records · 19 Days on market

Built 1964 7,335 sqft lot $125/sqft · 37% below area Est $240k · 37% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you're looking for a move-in-ready home in Lubbock, Texas with modern updates and strong rental potential, this property checks the boxes. Inside, you'll find updated vinyl plank flooring, fresh interior paint and generously sized bedrooms that create a bright, low-maintenance living space. The functional floor plan offers flexibility for families, roommates, or tenants, making it ideal as a primary residence or investment property. It is conveniently located just minutes from Texas Tech University and Lubbock Christian University, placing it in a high-demand area for student housing and long-term rentals. This home has a great location for an affordable price tag, so come check it out today!

Key facts

• Fresh paint
• Move-in-ready
• Updated

Tags

• MOVE-IN-READY
• UPDATED
• VINYL PLANK FLOORING
• FRESH PAINT
• STRONG RENTAL POTENTIAL
• LOW-MAINTENANCE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $36 ($432/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 $134k (10.4% below list).
• Recommended offer: $134k (10.4% below list) — sets the bar for 1% rule.

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 (+2.2%/yr); 464 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $1k of loan paydown is wiped out by about $4k 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

• It's been on market 19 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $134,372 (10.4% below list)

Questions for the listing agent

1. Built in 1964 — 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: 0.90% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (median comp): $239,817
• List price: $150,000
• Delta: -35.37%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.21% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-23,058
• Equity at exit: $22,365

10-year hold

• IRR: -8.4%
• Equity multiple: 0.49×
• Total profit: $-21,349
• Equity at exit: $12,969

Cash invested: $42,000 (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 79416

• Home prices YoY: -20.0%
• Rents YoY: 2.2%
• Active inventory: 464
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,344 high
• Mortgage (P&I): −$787
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $36

Break-even live

Break-even rent $1,298

Max offer price $150,000

Occupancy floor 92%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5414 6th St Lubbock, TX	3.0	2.0	1215	$1,299	$1.07	43d	1	0.12mi
4940 7th St Lubbock, TX	3.0	2.0	1350	$1,200	$0.89	43d	1	0.16mi
5424 6th St Lubbock, TX	3.0	2.0	1215	$1,150	$0.95	43d	1	0.17mi
5435 6th St Lubbock, TX	3.0	2.0	1201	$1,400	$1.17	21d	1	0.22mi
5442 6th St Lubbock, TX	3.0	2.0	1280	$1,349	$1.05	13d	1	0.27mi
5503 10th St Lubbock, TX	3.0	2.0	1311	$1,500	$1.14	21d	1	0.45mi
5230 14th St Lubbock, TX	3.0	2.0	1458	$1,350	$0.93	13d	1	0.45mi
5525 4th St Lubbock, TX	2.0	1.0	835	$795	$0.95	44d	2	0.52mi
5525 4th St Lubbock, TX	1.0–2.0	1.0	765	$850	$1.11	43d	1	0.52mi
5522 13th St Unit A Lubbock, TX	3.0	2.0	1200	$1,250	$1.04	13d	1	0.57mi
5221 16th St Lubbock, TX	3.0	2.0	1480	$1,450	$0.98	13d	1	0.60mi
306 Toledo Ave Lubbock, TX	2.0	1.0	749	$895	$1.19	43d	1	0.67mi
128 N Troy Ave Lubbock, TX	2.0	1.0	800	$899	$1.12	13d	1	0.85mi
139 N Troy Ave Unit B Lubbock, TX	2.0	1.0	818	$725	$0.89	21d	1	0.87mi
5539 Auburn St Lubbock, TX	3.0	2.0	1107	$1,325	$1.20	43d	1	0.87mi
201 N Troy Ave Unit A Lubbock, TX	2.0	1.0	818	$875	$1.07	21d	1	0.89mi
201 N Troy Ave Unit A Lubbock, TX	2.0	1.0	818	$875	$1.07	43d	1	0.89mi
5519 18th St Lubbock, TX	3.0	2.0	1258	$1,200	$0.95	43d	1	0.91mi
5519 18th St Lubbock, TX	3.0	1.0	1258	$1,200	$0.95	21d	1	0.91mi
310 N Brentwood Ave Unit B Lubbock, TX	3.0	3.0	1400	$1,250	$0.89	43d	1	0.93mi
305 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1294	$1,200	$0.93	43d	1	0.93mi
212 N Troy Ave Unit B Lubbock, TX	2.0	1.0	800	$775	$0.97	21d	1	0.93mi
5540 18th St Lubbock, TX	3.0	2.0	1249	$1,350	$1.08	21d	1	0.95mi
5834 7th St Lubbock, TX	3.0	2.0	1200	$1,125	$0.94	21d	1	0.96mi
5833 7th St Lubbock, TX	3.0	2.0	1159	$1,125	$0.97	21d	1	0.96mi
307 N Clinton Ave Lubbock, TX	3.0	3.0	1435	$1,225	$0.85	43d	1	0.97mi
503 N Brentwood Ave Unit B Lubbock, TX	3.0	3.0	1370	$1,200	$0.88	43d	1	0.98mi
5839 7th St Unit D Lubbock, TX	3.0	2.0	1159	$1,050	$0.91	43d	1	0.98mi
5846 7th St Lubbock, TX	3.0	2.0	1159	$1,145	$0.99	21d	1	1.00mi
5818 8th St Lubbock, TX	2.0	2.0	1000	$995	$0.99	43d	1	1.00mi
505 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1435	$1,325	$0.92	43d	1	1.01mi
505 N Chicago Ave Lubbock, TX	3.0	3.0	1435	$1,425	$0.99	43d	1	1.01mi
516 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1370	$1,200	$0.88	43d	1	1.06mi
5402 22nd St Lubbock, TX	2.0	1.0	1234	$1,050	$0.85	43d	1	1.07mi
5863 6th St Lubbock, TX	3.0	2.0	1116	$1,325	$1.19	21d	1	1.08mi
511 N Clinton Ave Unit A Lubbock, TX	3.0	2.0	1400	$1,250	$0.89	43d	1	1.09mi
522 N Chicago Ave Unit B Lubbock, TX	3.0	3.0	1370	$1,200	$0.88	43d	1	1.09mi
204 Genoa Ave Lubbock, TX	3.0	2.0	1400	$1,400	$1.00	13d	1	1.12mi
221 Grover Ave Lubbock, TX	3.0	2.0	1184	$1,295	$1.09	13d	1	1.13mi
6112 7th Dr Lubbock, TX	3.0	2.0	1224	$1,375	$1.12	21d	1	1.15mi

Listing history 24 events

1. 2026-06-13
   status $150,000 Pending 19 DOM
2. 2026-06-10
   days on market $150,000 Active 19 DOM
3. 2026-06-09
   days on market $150,000 Active 18 DOM
4. 2026-06-08
   days on market $150,000 Active 17 DOM
5. 2026-06-07
   days on market $150,000 Active 16 DOM
6. 2026-06-05
   days on market $150,000 Active 13 DOM
7. 2026-06-03
   days on market $150,000 Active 12 DOM
8. 2026-06-02
   days on market $150,000 Active 11 DOM
9. 2026-06-01
   days on market $150,000 Active 10 DOM
10. 2026-05-31
    days on market $150,000 Active 9 DOM
11. 2026-05-30
    days on market $150,000 Active 8 DOM
12. 2026-04-27
    price $155,000 704-char remark

    Show marketing remark (704 chars)

    If you're looking for a move-in-ready home in Lubbock, Texas with modern updates and strong rental potential, this property checks the boxes. Inside, you'll find updated vinyl plank flooring, fresh interior paint and generously sized bedrooms that create a bright, low-maintenance living space. The functional floor plan offers flexibility for families, roommates, or tenants, making it ideal as a primary residence or investment property. It is conveniently located just minutes from Texas Tech University and Lubbock Christian University, placing it in a high-demand area for student housing and long-term rentals. This home has a great location for an affordable price tag, so come check it out today!

13. 2026-03-05
    listed $160,000 Active 704-char remark

    Show marketing remark (704 chars)

    If you're looking for a move-in-ready home in Lubbock, Texas with modern updates and strong rental potential, this property checks the boxes. Inside, you'll find updated vinyl plank flooring, fresh interior paint and generously sized bedrooms that create a bright, low-maintenance living space. The functional floor plan offers flexibility for families, roommates, or tenants, making it ideal as a primary residence or investment property. It is conveniently located just minutes from Texas Tech University and Lubbock Christian University, placing it in a high-demand area for student housing and long-term rentals. This home has a great location for an affordable price tag, so come check it out today!

14. 2026-02-03
    price $159,900
15. 2026-01-05
    historical $1,350
16. 2025-12-25
    listed $1,350
17. 2024-11-04
    historical $1,295
18. 2024-10-22
    price $1,295
19. 2024-09-27
    listed $1,350
20. 2022-06-22
    price $1,275
21. 2021-09-13
    soldstatus
22. 2006-07-13
    soldstatus
23. 1995-08-01
    soldstatus
24. 1985-08-01
    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: $2,117 · $176/mo
• Projected year-2 tax: $2,745 · $229/mo
• Expected delta: +$628/yr (+$52/mo · 29.7%)

ⓘ 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 ≥99°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: $16,125
• − Mortgage interest: −$8,402
• − Property taxes: −$2,117
• − Insurance: −$750
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$4,364
• Taxable loss: −$2,088
• Est. tax savings @ 24.0%: +$501
• After-tax cash flow: $933/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): 36,442
• Household income: $63,896
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2214.0

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 0.62)
• Race & ethnicity: White 49% Hispanic / Latino 35% Two or more races 14% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Chinese 1% Tagalog/Filipino 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: ▼ -56.94%
• Current HPI: 227.7841
• Rent YoY: ▲ 2.21%
• 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

+12056.9% since first listed

13 events — show timeline

• 2026-04-27 Price Changed $155,000 LARMLS
• 2026-03-05 Listed $160,000 LARMLS
• 2026-02-03 Price Changed $159,900 LARMLS
• 2026-01-05 Rental Removed $1,350 BUILDIUM
• 2025-12-25 Listed for Rent $1,350 BUILDIUM
• 2024-11-04 Rental Removed $1,295 APPFOLIO
• 2024-10-22 Price Changed $1,295 APPFOLIO
• 2024-09-27 Listed for Rent $1,350 APPFOLIO
• 2022-06-22 Price Changed $1,275 RENT.
• 2021-09-13 Sold (Public Records) — Public Records
• 2006-07-13 Sold (Public Records) — Public Records
• 1995-08-01 Sold (Public Records) — Public Records
• 1985-08-01 Sold (Public Records) — Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,117 · -6.5% YoY. Source: county tax records.