3408 70th Dr · Lubbock, TX 79413

$214,000

4 bd · 4.0 ba · 2,434 sqft · MultiFamily public records · 91 Days on market

Built 1971 8,018 sqft lot ↓ 2% 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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great duplex in an awesome location! Convenient to the loop, stores, and restaurants. Side A is a 3/2 with fireplace, garage, brand new carpet, and fenced backyard. Side B is occupied and has a fireplace and garage. Roof and gutters were replaced last year. Great investment opportunity! Rent out both sides, or live on one side and rent the other. Come see this Melonie Park beauty! * Paint allowance with suitable offer.

Key facts

• Fenced backyard
• Fireplace
• 8,018 sq ft lot

Tags

• FIREPLACE
• FENCED BACKYARD
• ROOF AND GUTTERS REPLACED
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $214k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive. Per door: $141/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $214k).
• Recommended offer: $195k (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: Rents rising (+1.9%/yr); 183 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 40% of the median local income ($69k/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 $6k 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 91 days — a 9% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $194,740 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1971 — 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: 1.08% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-19,111
• Equity at exit: $31,908

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-3,052
• Equity at exit: $18,503

Cash invested: $59,920 (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 79413

• Rents YoY: 1.9%
• Active inventory: 183
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,315 high
• Mortgage (P&I): −$1,122
• Tax from tax record: −$336 /mo · $4,031/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $282

Break-even live

Break-even rent $1,959

Max offer price $214,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,314
Total (2 units)			$2,315

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: $53,500
• Closing costs: $6,420
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3307 74th St Unit A Lubbock, TX	3.0	2.5	2024	$1,540	$0.76	43d	1	0.35mi
7201 Memphis Ave Unit b Lubbock, TX	3.0	2.5	1627	$1,250	$0.77	43d	1	0.44mi
3236 63rd St Lubbock, TX	3.0	2.5	1818	$1,524	$0.84	13d	1	0.46mi
6309 Nashville Dr Lubbock, TX	3.0	2.0	2168	$1,799	$0.83	43d	1	0.76mi
3423 56th St Lubbock, TX	3.0	2.0	2224	$1,895	$0.85	43d	1	0.84mi
2725 63rd St Unit FS Lubbock, TX	3.0	2.0	1624	$1,599	$0.98	43d	1	0.84mi
2730 68th St Lubbock, TX	4.0	3.0	2050	$1,999	$0.98	21d	1	0.90mi
3417 83rd Dr Lubbock, TX	3.0	2.0	1642	$1,650	$1.00	21d	1	0.94mi
8604 Jordan Dr Lubbock, TX	3.0	2.0	1855	$1,900	$1.02	43d	1	1.12mi
2823 54th St Lubbock, TX	3.0	2.0	1725	$1,825	$1.06	43d	1	1.12mi
4213 54th St Lubbock, TX	3.0	2.0	1680	$1,550	$0.92	13d	1	1.23mi
4324 56th St Lubbock, TX	4.0	2.0	2014	$2,000	$0.99	43d	1	1.23mi
2703 54th St Lubbock, TX	5.0	2.0	2116	$2,000	$0.95	43d	1	1.28mi
4210 52nd St Lubbock, TX	3.0	2.0	1715	$1,575	$0.92	13d	1	1.34mi
4522 79th St Lubbock, TX	3.0	2.0	1933	$1,800	$0.93	21d	1	1.37mi
4608 60th St Lubbock, TX	3.0	2.0	1769	$1,650	$0.93	21d	1	1.37mi
2310 59th St Lubbock, TX	3.0	2.5	2637	$1,900	$0.72	43d	1	1.42mi
4314 52nd St Unit A Lubbock, TX	3.0	2.0	1863	$1,400	$0.75	21d	1	1.42mi
3312 47th St Lubbock, TX	3.0	2.0	1880	$1,795	$0.95	43d	1	1.44mi
2115 66th St Lubbock, TX	4.0	2.0	2160	$1,795	$0.83	21d	1	1.47mi
3712 47th St Lubbock, TX	3.0	2.0	1767	$1,400	$0.79	21d	1	1.48mi
2117 65th St Lubbock, TX	3.0	2.0	2285	$1,975	$0.86	21d	1	1.49mi

Listing history 23 events

1. 2026-06-18
   days on market $214,000 Active 91 DOM
2. 2026-06-18
   price $214,000 Active 90 DOM
3. 2026-06-17
   days on market $219,500 Active 90 DOM
4. 2026-06-16
   days on market $219,500 Active 89 DOM
5. 2026-06-15
   days on market $219,500 Active 88 DOM
6. 2026-06-14
   days on market $219,500 Active 86 DOM
7. 2026-06-13
   days on market $219,500 Active 85 DOM
8. 2026-06-10
   days on market $219,500 Active 83 DOM
9. 2026-06-09
   days on market $219,500 Active 82 DOM
10. 2026-06-08
    days on market $219,500 Active 81 DOM
11. 2026-06-07
    days on market $219,500 Active 80 DOM
12. 2026-06-05
    days on market $219,500 Active 77 DOM
13. 2026-06-03
    days on market $219,500 Active 76 DOM
14. 2026-06-02
    days on market $219,500 Active 75 DOM
15. 2026-06-01
    days on market $219,500 Active 74 DOM
16. 2026-05-31
    days on market $219,500 Active 73 DOM
17. 2026-05-30
    days on market $219,500 Active 72 DOM
18. 2026-05-16
    status Active 427-char remark

    Show marketing remark (427 chars)

    Great duplex in an awesome location! Convenient to the loop, stores, and restaurants. Side A is a 3/2 with fireplace, garage, brand new carpet, and fenced backyard. Side B is occupied and has a fireplace and garage. Roof and gutters were replaced last year. Great investment opportunity! Rent out both sides, or live on one side and rent the other. Come see this Melonie Park beauty! * Paint allowance with suitable offer.

19. 2026-05-12
    status Pending 427-char remark

    Show marketing remark (427 chars)

    Great duplex in an awesome location! Convenient to the loop, stores, and restaurants. Side A is a 3/2 with fireplace, garage, brand new carpet, and fenced backyard. Side B is occupied and has a fireplace and garage. Roof and gutters were replaced last year. Great investment opportunity! Rent out both sides, or live on one side and rent the other. Come see this Melonie Park beauty! * Paint allowance with suitable offer.

20. 2026-05-01
    price $219,500 427-char remark

    Show marketing remark (427 chars)

    Great duplex in an awesome location! Convenient to the loop, stores, and restaurants. Side A is a 3/2 with fireplace, garage, brand new carpet, and fenced backyard. Side B is occupied and has a fireplace and garage. Roof and gutters were replaced last year. Great investment opportunity! Rent out both sides, or live on one side and rent the other. Come see this Melonie Park beauty! * Paint allowance with suitable offer.

21. 2026-03-12
    listed $225,000 Active 427-char remark

    Show marketing remark (427 chars)

    Great duplex in an awesome location! Convenient to the loop, stores, and restaurants. Side A is a 3/2 with fireplace, garage, brand new carpet, and fenced backyard. Side B is occupied and has a fireplace and garage. Roof and gutters were replaced last year. Great investment opportunity! Rent out both sides, or live on one side and rent the other. Come see this Melonie Park beauty! * Paint allowance with suitable offer.

22. 1998-12-29
    soldstatus
23. 1992-05-01
    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: $4,031 · $336/mo
• Projected year-2 tax: $4,031 · $336/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $27,780
• − Mortgage interest: −$11,987
• − Property taxes: −$4,031
• − Insurance: −$1,070
• − Repairs & maintenance: −$2,222
• − Management: −$2,222
• − Depreciation: −$6,225
• Taxable income: $22
• Est. tax owed @ 24.0%: −$5
• After-tax cash flow: $3,373/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): 23,343
• Household income: $69,400
• Rent vs Own: 43.9% rent · 56.1% own
• Severe rent burden: 1211.0

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 0.59)
• Race & ethnicity: White 54% Hispanic / Latino 34% Two or more races 18% Black 6%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 88% English-only · Spanish 10% 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: ▼ -145.52%
• Current HPI: 239.8854
• Rent YoY: ▲ 1.94%
• 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

-2.4% since first listed

6 events — show timeline

• 2026-05-16 Relisted — LARMLS
• 2026-05-12 Pending — LARMLS
• 2026-05-01 Price Changed $219,500 LARMLS
• 2026-03-12 Listed $225,000 LARMLS
• 1998-12-29 Sold (Public Records) — Public Records
• 1992-05-01 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,031 · -1.9% YoY. Source: county tax records.