304 Ave U · Lubbock, TX 79415

$59,000

3 bd · 2.0 ba · 1,101 sqft · SingleFamily public records · 608 Days on market

Built 1951 7,301 sqft lot ↓ 26% since listing

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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
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unique triplex offers a prime opportunity for multi-income potential, situated just moments from Texas Tech University and the football stadium. Each unit provides the chance for rental income or a flexible living arrangement. The property features a brand-new roof, ensuring a solid foundation for future improvements. While the interior needs some TLC, this is a great chance to customize and add value. Whether you're an investor or looking for a property with multiple income streams, this triplex is a must-see. Embrace the potential and enjoy the convenience of this excellent location!

Key facts

• 7,301 sq ft lot
• Garage
• Built 1951

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% 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: 111 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• This rent runs 33% of the median local income ($36k/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 $408 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 608 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $21k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 608 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.70% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.04%
• DSCR: 2.29
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.4%
• Equity multiple: 1.96×
• Total profit: $15,905
• Equity at exit: $8,797

10-year hold

• IRR: 31.3%
• Equity multiple: 3.82×
• Total profit: $46,659
• Equity at exit: $5,101

Cash invested: $16,520 (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 79415

• Home prices YoY: -20.1%
• Active inventory: 111
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,003 high
• Mortgage (P&I): −$309
• Tax from tax record: −$59 /mo · $708/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $400

Break-even live

Break-even rent $497

Max offer price $59,000

Occupancy floor 55%

Sensitivity live

Price	-10% $433	-5% $416	+0% $400	+5% $383	+10% $366
Rent	-10% $320	-5% $360	+0% $400	+5% $439	+10% $479
Rate	-1.0pp $429	-0.5pp $415	base $400	+0.5pp $384	+1.0pp $369

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Avenue U Lubbock, TX	1.0–2.0	1.0	625	$875	$1.40	14d	4	0.03mi
114 Avenue V Lubbock, TX	2.0	1.0	728	$750	$1.03	44d	1	0.24mi
707 Avenue T Lubbock, TX	3.0–4.0	3.0–4.0	1559	$474	$0.30	44d	45	0.37mi
1710 9th St Unit 29 Lubbock, TX	2.0	1.0	700	$1,000	$1.43	14d	1	0.56mi
2512 1st St Lubbock, TX	2.0	1.0	1050	$900	$0.86	14d	1	0.62mi
321 N Sherman Ave Lubbock, TX	3.0	2.0	1398	$1,100	$0.79	44d	1	0.65mi
2613 Auburn St Lubbock, TX	2.0	1.0	978	$875	$0.89	44d	1	0.77mi
2101 14th St Lubbock, TX	2.0	1.0	895	$850	$0.95	44d	1	0.80mi
2101 14th St Lubbock, TX	2.0	1.0	895	$850	$0.95	22d	1	0.80mi
2117 14th St Unit A Lubbock, TX	2.0	2.0	980	$1,250	$1.28	22d	1	0.80mi
2315 13th St Lubbock, TX	2.0	1.0	825	$995	$1.21	44d	1	0.81mi
2409 13th St Unit 8 Lubbock, TX	3.0	2.0	1200	$1,100	$0.92	44d	1	0.85mi
2316 15th St Lubbock, TX	2.0	1.0	960	$795	$0.83	22d	1	0.89mi
2803 2nd St Lubbock, TX	2.0	1.0	784	$800	$1.02	44d	1	0.89mi
2122 16th St Lubbock, TX	2.0	2.0	1295	$1,025	$0.79	44d	1	0.89mi
2805 1st Pl Lubbock, TX	2.0	1.0	730	$895	$1.23	22d	1	0.91mi
2220 16th St Lubbock, TX	3.0	2.0	1414	$1,300	$0.92	22d	1	0.92mi
2317 15th St Lubbock, TX	2.0	1.0	900	$1,000	$1.11	44d	1	0.92mi
2101 16th St Unit 2D Lubbock, TX	2.0	1.0	950	$825	$0.87	44d	1	0.93mi
1909 16th St Lubbock, TX	4.0	2.0	1312	$1,600	$1.22	22d	1	0.94mi
1202 Main St Lubbock, TX	3.0	1.0–2.0	919	$1,653	$1.80	14d	13	0.96mi
2709 Cornell St Lubbock, TX	3.0	2.0	1140	$1,050	$0.92	22d	1	0.99mi
2121 17th St Lubbock, TX	3.0	1.0	1048	$995	$0.95	22d	1	0.99mi
1220 Broadway St Lubbock, TX	1.0–2.0	1.0–2.0	932	$1,500	$1.61	14d	7	0.99mi
1220 Broadway St Unit 1704 Lubbock, TX	2.0	2.0	1098	$999	$0.91	44d	1	1.00mi
1922 18th St Lubbock, TX	3.0	1.0	1136	$1,050	$0.92	22d	1	1.03mi
2123 18th St Lubbock, TX	3.0	2.0	1328	$949	$0.71	14d	1	1.06mi
1619 University Ave Unit 8 Lubbock, TX	2.0	2.0	900	$700	$0.78	44d	1	1.13mi
1626 Avenue Y Unit 3 Lubbock, TX	2.0	1.0	1280	$850	$0.66	44d	1	1.15mi
2124 20th St Lubbock, TX	3.0	2.0	1481	$1,150	$0.78	14d	1	1.17mi
2109 20th St Lubbock, TX	3.0	2.0	1391	$1,200	$0.86	44d	1	1.20mi
2906 Cornell St Lubbock, TX	2.0	1.0	920	$875	$0.95	14d	1	1.20mi
2320 20th St Lubbock, TX	2.0	1.0	844	$1,000	$1.18	44d	1	1.20mi
2307 20th St Lubbock, TX	2.0	2.0	850	$850	$1.00	44d	1	1.22mi
2122 21st St Unit B Lubbock, TX	2.0	1.0	800	$750	$0.94	22d	1	1.23mi
2122 21st St Lubbock, TX	2.0	1.0	800	$750	$0.94	22d	2	1.23mi
2122 21st St Unit A Lubbock, TX	2.0	1.0	800	$800	$1.00	44d	1	1.23mi
1912 21st St Lubbock, TX	3.0	2.0	1473	$1,025	$0.70	44d	1	1.24mi
2715 Fordham St Unit 7 Lubbock, TX	2.0	2.0	1100	$1,150	$1.05	44d	1	1.26mi
1911 21st St Unit B Lubbock, TX	2.0	1.0	714	$750	$1.05	44d	1	1.28mi

Listing history 11 events

1. 2026-06-05
   days on market $59,000 Active 608 DOM
2. 2026-06-03
   days on market $59,000 Active 607 DOM
3. 2026-06-02
   days on market $59,000 Active 606 DOM
4. 2026-06-01
   days on market $59,000 Active 605 DOM
5. 2026-05-31
   days on market $59,000 Active 604 DOM
6. 2026-05-30
   days on market $59,000 Active 603 DOM
7. 2025-07-09
   status Active 597-char remark

   Show marketing remark (597 chars)

   This unique triplex offers a prime opportunity for multi-income potential, situated just moments from Texas Tech University and the football stadium. Each unit provides the chance for rental income or a flexible living arrangement. The property features a brand-new roof, ensuring a solid foundation for future improvements. While the interior needs some TLC, this is a great chance to customize and add value. Whether you're an investor or looking for a property with multiple income streams, this triplex is a must-see. Embrace the potential and enjoy the convenience of this excellent location!

8. 2025-06-16
   status Pending 597-char remark

   Show marketing remark (597 chars)

   This unique triplex offers a prime opportunity for multi-income potential, situated just moments from Texas Tech University and the football stadium. Each unit provides the chance for rental income or a flexible living arrangement. The property features a brand-new roof, ensuring a solid foundation for future improvements. While the interior needs some TLC, this is a great chance to customize and add value. Whether you're an investor or looking for a property with multiple income streams, this triplex is a must-see. Embrace the potential and enjoy the convenience of this excellent location!

9. 2024-12-11
   price $59,000 597-char remark

   Show marketing remark (597 chars)

   This unique triplex offers a prime opportunity for multi-income potential, situated just moments from Texas Tech University and the football stadium. Each unit provides the chance for rental income or a flexible living arrangement. The property features a brand-new roof, ensuring a solid foundation for future improvements. While the interior needs some TLC, this is a great chance to customize and add value. Whether you're an investor or looking for a property with multiple income streams, this triplex is a must-see. Embrace the potential and enjoy the convenience of this excellent location!

10. 2024-10-24
    price $65,000 597-char remark

    Show marketing remark (597 chars)

    This unique triplex offers a prime opportunity for multi-income potential, situated just moments from Texas Tech University and the football stadium. Each unit provides the chance for rental income or a flexible living arrangement. The property features a brand-new roof, ensuring a solid foundation for future improvements. While the interior needs some TLC, this is a great chance to customize and add value. Whether you're an investor or looking for a property with multiple income streams, this triplex is a must-see. Embrace the potential and enjoy the convenience of this excellent location!

11. 2024-09-12
    listed $80,000 Active 597-char remark

    Show marketing remark (597 chars)

    This unique triplex offers a prime opportunity for multi-income potential, situated just moments from Texas Tech University and the football stadium. Each unit provides the chance for rental income or a flexible living arrangement. The property features a brand-new roof, ensuring a solid foundation for future improvements. While the interior needs some TLC, this is a great chance to customize and add value. Whether you're an investor or looking for a property with multiple income streams, this triplex is a must-see. Embrace the potential and enjoy the convenience of this excellent location!

ⓘ 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: $708 · $59/mo
• Projected year-2 tax: $1,080 · $90/mo
• Expected delta: +$372/yr (+$31/mo · 52.6%)

ⓘ 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 ≥100°F today · 22 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: $12,041
• − Mortgage interest: −$3,305
• − Property taxes: −$708
• − Insurance: −$295
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$1,716
• Taxable income: $4,091
• Est. tax owed @ 24.0%: −$982
• After-tax cash flow: $3,815/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): 15,794
• Household income: $36,468
• Rent vs Own: 62.9% rent · 37.1% own
• Severe rent burden: 1287.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 26% Two or more races 19% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Italian 1% Serbian 1% Estonian 1%
• Foreign-born: 15% · Canada, China
• Languages at home: 57% English-only · Spanish 36% Other Indo-European 4% Arabic 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: ▼ -41.79%
• Current HPI: 165.7933
• 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

-26.2% since first listed

5 events — show timeline

• 2025-07-09 Relisted — LARMLS
• 2025-06-16 Pending — LARMLS
• 2024-12-11 Price Changed $59,000 LARMLS
• 2024-10-24 Price Changed $65,000 LARMLS
• 2024-09-12 Listed $80,000 LARMLS

Property tax history

-2.4%/yr

Latest (2025): $708 · -60.8% YoY. Source: county tax records.