8318 24th St · Lubbock, TX 79407

$169,000

2 bd · 2.0 ba · 1,006 sqft · Other · 69 Days on market

Built 2025 Good condition 3,400 sqft lot ↓ 1% since listing

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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).

• Cash flow +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Buy NOW and get $7K use-it-your-way cash!! Our cottage-style floor plans offer the most efficient and affordable use of space, making them the perfect choice for first-time home buyers! The Priscilla floor plan features:Brick and vinyl exterior with covered front entrywayLuxury vinyl plank flooring in the home's common areasGranite or quartz countertopsKitchen island with bar seatingStainless steel appliancesPremium plumbing and lighting fixturesSecluded master suite with walk-in closet

Key facts

• 3,400 sq ft lot
• Garage
• Built 2025

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $169k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $276 ($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 $163k (3.5% below list).
• Recommended offer: $159k (6.0% 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.
• 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.
• Market conditions: Rents soft (-0.1%/yr); 610 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 69 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $158,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 8.25%
• Cash-on-cash: 6.99%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.69×
• Total profit: $-14,685
• Equity at exit: $25,198

10-year hold

• IRR: -3.2%
• Equity multiple: 0.81×
• Total profit: $-8,947
• Equity at exit: $14,612

Cash invested: $47,320 (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 79407

• Home prices YoY: -16.3%
• Rents YoY: -0.1%
• Active inventory: 610
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$886
• Tax from tax record: −$56 /mo · $675/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $276

Break-even live

Break-even rent $1,282

Max offer price $169,000

Occupancy floor 78%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2603 Harmony Ave Lubbock, TX	3.0	2.0	1450	$1,749	$1.21	21d	1	0.23mi
2603 Harmony Ave Lubbock, TX	3.0	2.0	1450	$1,749	$1.21	13d	1	0.23mi
8607 29th St Lubbock, TX	3.0	2.0	1350	$1,749	$1.30	43d	1	0.25mi
2511 Kenwood Ave Lubbock, TX	3.0	2.0	1450	$2,099	$1.45	21d	1	0.62mi
2509 Kenwood Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	21d	1	0.62mi
2055 Kenwood Ave Lubbock, TX	3.0	2.0	1450	$1,649	$1.14	13d	1	0.63mi
2154 Kokomo Ave Lubbock, TX	3.0	2.0	1450	$1,799	$1.24	21d	1	0.66mi
2028 Kenwood Ave Lubbock, TX	3.0	2.0	1450	$1,650	$1.14	13d	1	0.69mi
2168 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	43d	1	0.69mi
2125 Kirksey Ave Lubbock, TX	3.0	2.0	1450	$1,650	$1.14	13d	1	0.70mi
2162 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	43d	1	0.72mi
2131 Kokomo Ave Unit A Lubbock, TX	3.0	2.0	1360	$1,500	$1.10	21d	1	0.73mi
2147 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	21d	1	0.73mi
2143 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,750	$1.21	43d	1	0.75mi
2152 Langford Ave Unit Labs Lubbock, TX	3.0	2.0	1450	$1,660	$1.14	21d	1	0.77mi
2139 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,899	$1.31	21d	1	0.77mi
2137 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,700	$1.17	21d	1	0.78mi
2148 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	43d	1	0.78mi
2123 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,799	$1.24	21d	1	0.80mi
2138 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	43d	1	0.81mi
2132 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	13d	1	0.82mi
2128 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	13d	1	0.82mi
2122 Langford Ave Lubbock, TX	3.0	2.0	1450	$1,699	$1.17	13d	1	0.83mi
2101 Langford Ave Lubbock, TX	3.0	2.0	1500	$1,400	$0.93	43d	1	0.83mi
1919 Langford Ave Unit A Lubbock, TX	3.0	2.0	1500	$1,399	$0.93	43d	1	0.85mi
1919 Langford Ave Lubbock, TX	3.0	2.0	1500	$1,350	$0.90	43d	1	0.85mi
1918 Langford Ave Unit B Lubbock, TX	3.0	2.0	1500	$1,399	$0.93	13d	1	0.88mi
1903 Langford Ave Unit A Lubbock, TX	3.0	2.0	1500	$1,575	$1.05	13d	1	0.89mi
1903 Langford Ave Unit A Lubbock, TX	3.0	2.0	1500	$1,575	$1.05	43d	1	0.89mi
1903 Langford Ave Unit B Lubbock, TX	3.0	2.0	1500	$1,300	$0.87	43d	1	0.89mi
7541 33rd St Lubbock, TX	3.0	2.0	1296	$1,500	$1.16	21d	1	1.08mi
7535 32nd St Lubbock, TX	3.0	2.0	1120	$1,395	$1.25	43d	1	1.08mi
8704 10th St Lubbock, TX	3.0	2.0	1423	$1,450	$1.02	43d	1	1.16mi
7420 35th St Lubbock, TX	3.0	2.0	1247	$1,500	$1.20	43d	1	1.45mi
7413 35th St Lubbock, TX	3.0	2.0	1247	$1,475	$1.18	21d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $169,000 Active 69 DOM
2. 2026-06-17
   days on market $169,000 Active 68 DOM
3. 2026-06-16
   days on market $169,000 Active 67 DOM
4. 2026-06-15
   days on market $169,000 Active 66 DOM
5. 2026-06-13
   days on market $169,000 Active 63 DOM
6. 2026-06-10
   days on market $169,000 Active 61 DOM
7. 2026-06-09
   days on market $169,000 Active 60 DOM
8. 2026-06-08
   days on market $169,000 Active 59 DOM
9. 2026-06-07
   days on market $169,000 Active 58 DOM
10. 2026-06-05
    days on market $169,000 Active 55 DOM
11. 2026-06-03
    days on market $169,000 Active 54 DOM
12. 2026-06-02
    days on market $169,000 Active 53 DOM
13. 2026-06-01
    days on market $169,000 Active 52 DOM
14. 2026-05-31
    days on market $169,000 Active 51 DOM
15. 2026-05-30
    days on market $169,000 Active 50 DOM
16. 2026-04-11
    listed $179,000 Active
17. 2025-10-17
    soldstatus Closed 491-char remark

    Show marketing remark (491 chars)

    Buy NOW and get $7K use-it-your-way cash!! Our cottage-style floor plans offer the most efficient and affordable use of space, making them the perfect choice for first-time home buyers! The Priscilla floor plan features:Brick and vinyl exterior with covered front entrywayLuxury vinyl plank flooring in the home's common areasGranite or quartz countertopsKitchen island with bar seatingStainless steel appliancesPremium plumbing and lighting fixturesSecluded master suite with walk-in closet

18. 2025-09-26
    status Pending 491-char remark

    Show marketing remark (491 chars)

    Buy NOW and get $7K use-it-your-way cash!! Our cottage-style floor plans offer the most efficient and affordable use of space, making them the perfect choice for first-time home buyers! The Priscilla floor plan features:Brick and vinyl exterior with covered front entrywayLuxury vinyl plank flooring in the home's common areasGranite or quartz countertopsKitchen island with bar seatingStainless steel appliancesPremium plumbing and lighting fixturesSecluded master suite with walk-in closet

19. 2025-09-07
    price $179,000 491-char remark

    Show marketing remark (491 chars)

    Buy NOW and get $7K use-it-your-way cash!! Our cottage-style floor plans offer the most efficient and affordable use of space, making them the perfect choice for first-time home buyers! The Priscilla floor plan features:Brick and vinyl exterior with covered front entrywayLuxury vinyl plank flooring in the home's common areasGranite or quartz countertopsKitchen island with bar seatingStainless steel appliancesPremium plumbing and lighting fixturesSecluded master suite with walk-in closet

20. 2025-09-03
    listed $181,530 Active 491-char remark

    Show marketing remark (491 chars)

    Buy NOW and get $7K use-it-your-way cash!! Our cottage-style floor plans offer the most efficient and affordable use of space, making them the perfect choice for first-time home buyers! The Priscilla floor plan features:Brick and vinyl exterior with covered front entrywayLuxury vinyl plank flooring in the home's common areasGranite or quartz countertopsKitchen island with bar seatingStainless steel appliancesPremium plumbing and lighting fixturesSecluded master suite with walk-in closet

ⓘ 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: $675 · $56/mo
• Projected year-2 tax: $3,093 · $258/mo
• Expected delta: +$2,417/yr (+$201/mo · 358.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,572
• − Mortgage interest: −$9,467
• − Property taxes: −$675
• − Insurance: −$845
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$4,916
• Taxable income: $538
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $3,178/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with recent updates, ready for move-in. Minor improvements to landscaping and interior furnishings can further enhance its appeal.

Value-add opportunities

• Both landscaping — improves curb appeal and adds value
• Both furniture — enhances interior aesthetics and makes space more inviting

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and adds value ↑
• Both furniture — enhances interior aesthetics and makes space more inviting ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Frenship ISD
• NCES district ID: 4819830
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $54,376
• Composite: 43.59/100
• National rank: #2976
• State rank: #162 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): 24,000
• Household income: $61,509
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1914.0

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: White 58% Hispanic / Latino 31% Two or more races 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 1% Chinese 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: ▼ -44.87%
• Current HPI: 229.9895
• Rent YoY: ▼ -0.07%
• 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

-1.4% since first listed

5 events — show timeline

• 2026-04-11 Listed $179,000 LARMLS
• 2025-10-17 Sold (MLS) — LARMLS
• 2025-09-26 Pending — LARMLS
• 2025-09-07 Price Changed $179,000 LARMLS
• 2025-09-03 Listed $181,530 LARMLS