312 E 34th St · Lubbock, TX 79404

$225,000

23 bd · 10.0 ba · 9,608 sqft · MultiFamily public records · 95 Days on market

Built 1955 0.97 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. 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

Investment Opportunity: Multi-Family Value-Add Portfolio Unlock the Potential of this Diamond in the Rough For the visionary investor, this multi-family package offers the rare chance to revitalize a unique property and create something truly impactful. Located at 312 E 34th, this assembly of homes is the definition of a "value-add" investment, offering immediate rental potential alongside significant long-term upside. Property Highlights: Five Individual 1-Bedroom Houses: These standalone units are nearly rent-ready. With minor finishing touches, they are projected to command between $600-$700 per month each, providing an immediate and steady starting cash flow. One Duplex: A versatile structure currently requiring rehab. Once restored, this duplex will significantly increase the door count and monthly yield of the portfolio. Large Sierra Trails Apartment Building: The centerpiece of the investment, this substantial building spans over 7,600 sq. ft. While it requires a more comprehensive renovation, its scale offers the greatest opportunity for equity growth and high-density rental income. The Opportunity: Offered at $250,000, this Sierra trails portfolio is perfect for an investor looking to build a "buy-and-hold" empire or a developer ready to execute a high-margin "BRRRR" strategy. Don't miss the chance to transform this unique collection of properties into a cornerstone of your portfolio. The footprint is established, the square footage is there, and the upside is waiting for the right buyer. Price: $285,000 Location: 312 E 34th Total Units: 5 Houses + 1 Duplex + 1 Large Apartment Building (18 doors)

Key facts

• One duplex
• Multi family package
• 0.97 acre lot

Tags

• MULTI FAMILY PACKAGE
• FIVE INDIVIDUAL HOUSES
• ONE DUPLEX

What this means for you Summary

Snapshot

• This is a 2 × 12-bed/?-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $598/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% 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: 91 active listings in the ZIP; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $3,471/mo this rent would consume 81% of the median local household income ($52k/yr) (locally 366% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.2% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.54% ✓
• Cap rate: 12.67%
• Cash-on-cash: 22.78%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 2.68×
• Total profit: $106,008
• Equity at exit: $104,012

10-year hold

• IRR: 29.7%
• Equity multiple: 5.24×
• Total profit: $267,426
• Equity at exit: $162,540

Cash invested: $63,000 (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 79404

• Home prices YoY: 2.0%
• Active inventory: 91
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $3,471 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$272 /mo · $3,267/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $1,196

Break-even live

Break-even rent $1,957

Max offer price $225,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,324	-5% $1,260	+0% $1,196	+5% $1,132	+10% $1,069
Rent	-10% $922	-5% $1,059	+0% $1,196	+5% $1,333	+10% $1,470
Rate	-1.0pp $1,309	-0.5pp $1,253	base $1,196	+0.5pp $1,138	+1.0pp $1,079

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

Units	Beds	Baths	Est. rent
▸ 2× units	12	—	$3,472
Total (2 units)			$3,471

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-13
   statusdays on market $225,000 Pending 95 DOM
2. 2026-06-10
   days on market $225,000 Active 93 DOM
3. 2026-06-09
   days on market $225,000 Active 92 DOM
4. 2026-06-08
   days on market $225,000 Active 91 DOM
5. 2026-06-07
   days on market $225,000 Active 90 DOM
6. 2026-06-05
   days on market $225,000 Active 87 DOM
7. 2026-06-03
   pricedays on market $225,000 Active 86 DOM
8. 2026-06-02
   days on market $285,000 Active 85 DOM
9. 2026-06-01
   days on market $285,000 Active 84 DOM
10. 2026-05-31
    days on market $285,000 Active 83 DOM
11. 2026-05-30
    days on market $285,000 Active 82 DOM
12. 2026-03-28
    price $285,000 1665-char remark

    Show marketing remark (1665 chars)

    Investment Opportunity: Multi-Family Value-Add Portfolio Unlock the Potential of this Diamond in the Rough For the visionary investor, this multi-family package offers the rare chance to revitalize a unique property and create something truly impactful. Located at 312 E 34th, this assembly of homes is the definition of a "value-add" investment, offering immediate rental potential alongside significant long-term upside. Property Highlights: Five Individual 1-Bedroom Houses: These standalone units are nearly rent-ready. With minor finishing touches, they are projected to command between $600-$700 per month each, providing an immediate and steady starting cash flow. One Duplex: A versatile structure currently requiring rehab. Once restored, this duplex will significantly increase the door count and monthly yield of the portfolio. Large Sierra Trails Apartment Building: The centerpiece of the investment, this substantial building spans over 7,600 sq. ft. While it requires a more comprehensive renovation, its scale offers the greatest opportunity for equity growth and high-density rental income. The Opportunity: Offered at $250,000, this Sierra trails portfolio is perfect for an investor looking to build a "buy-and-hold" empire or a developer ready to execute a high-margin "BRRRR" strategy. Don't miss the chance to transform this unique collection of properties into a cornerstone of your portfolio. The footprint is established, the square footage is there, and the upside is waiting for the right buyer. Price: $285,000 Location: 312 E 34th Total Units: 5 Houses + 1 Duplex + 1 Large Apartment Building (18 doors)

13. 2026-03-09
    listed $250,000 Active 1665-char remark

    Show marketing remark (1665 chars)

    Investment Opportunity: Multi-Family Value-Add Portfolio Unlock the Potential of this Diamond in the Rough For the visionary investor, this multi-family package offers the rare chance to revitalize a unique property and create something truly impactful. Located at 312 E 34th, this assembly of homes is the definition of a "value-add" investment, offering immediate rental potential alongside significant long-term upside. Property Highlights: Five Individual 1-Bedroom Houses: These standalone units are nearly rent-ready. With minor finishing touches, they are projected to command between $600-$700 per month each, providing an immediate and steady starting cash flow. One Duplex: A versatile structure currently requiring rehab. Once restored, this duplex will significantly increase the door count and monthly yield of the portfolio. Large Sierra Trails Apartment Building: The centerpiece of the investment, this substantial building spans over 7,600 sq. ft. While it requires a more comprehensive renovation, its scale offers the greatest opportunity for equity growth and high-density rental income. The Opportunity: Offered at $250,000, this Sierra trails portfolio is perfect for an investor looking to build a "buy-and-hold" empire or a developer ready to execute a high-margin "BRRRR" strategy. Don't miss the chance to transform this unique collection of properties into a cornerstone of your portfolio. The footprint is established, the square footage is there, and the upside is waiting for the right buyer. Price: $285,000 Location: 312 E 34th Total Units: 5 Houses + 1 Duplex + 1 Large Apartment Building (18 doors)

14. 2021-08-13
    soldstatus 570-char remark

    Show marketing remark (570 chars)

    6 single family unit homes and a main building with 23 units, this property can be used for several purposes. Currently this is used for residential income. With an on-site manager, the properties stay rented and vary from income to rented rates. Located near commercial purposes, this property can be used in its current state for income. .. to commercial purposes with 6 single family homes. .. all the way to creative usages. This is for the buyer who can think outside the box. There is good traffic, ease of access and good visibility with ample site-utility ratio.

15. 2021-08-13
    soldstatus

    Show marketing remark (570 chars)

    6 single family unit homes and a main building with 23 units, this property can be used for several purposes. Currently this is used for residential income. With an on-site manager, the properties stay rented and vary from income to rented rates. Located near commercial purposes, this property can be used in its current state for income. .. to commercial purposes with 6 single family homes. .. all the way to creative usages. This is for the buyer who can think outside the box. There is good traffic, ease of access and good visibility with ample site-utility ratio.

16. 2019-08-05
    listed $215,000 570-char remark

    Show marketing remark (570 chars)

    6 single family unit homes and a main building with 23 units, this property can be used for several purposes. Currently this is used for residential income. With an on-site manager, the properties stay rented and vary from income to rented rates. Located near commercial purposes, this property can be used in its current state for income. .. to commercial purposes with 6 single family homes. .. all the way to creative usages. This is for the buyer who can think outside the box. There is good traffic, ease of access and good visibility with ample site-utility ratio.

17. 2007-05-07
    soldstatus
18. 2004-01-01
    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: $3,267 · $272/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$851/yr (+$71/mo · 26.0%)

ⓘ 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 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: $41,652
• − Mortgage interest: −$12,603
• − Property taxes: −$3,267
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,332
• − Management: −$3,332
• − Depreciation: −$6,545
• Taxable income: $11,447
• Est. tax owed @ 24.0%: −$2,747
• After-tax cash flow: $11,607/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): 8,529
• Household income: $51,630
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 366.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 55% Black 22% White 20% Two or more races 17% Native American 2%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Romanian 1% Lithuanian 0%
• Foreign-born: 5% · Canada
• Languages at home: 64% English-only · Spanish 36%

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: ▲ 3.22%
• Current HPI: 163.854
• Rent YoY: —
• 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

+32.6% since first listed

7 events — show timeline

• 2026-03-28 Price Changed $285,000 LARMLS
• 2026-03-09 Listed $250,000 LARMLS
• 2021-08-13 Sold (Public Records) — Public Records
• 2021-08-13 Sold (MLS) — LARMLS
• 2019-08-05 Listed $215,000 LARMLS
• 2007-05-07 Sold (Public Records) — Public Records
• 2004-01-01 Sold (Public Records) — Public Records

Property tax history

-7.0%/yr

Latest (2025): $3,267 · -2.3% YoY. Source: county tax records.