706 29th St · Lubbock, TX 79404

$59,000

3 bd · 2.0 ba · 1,164 sqft · SingleFamily public records · 47 Days on market

Built 1939 6,250 sqft lot $51/sqft · 41% below area Est $100k · 41% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks

Welcome to 706 29th St — a solid investment opportunity in an established Central Lubbock neighborhood known for consistent rental demand. This property is currently leased at $750/month, with a long-term tenant who would like to remain, offering immediate and reliable income from day one. For investors looking for stability, it doesn't get much more straightforward than this. Even better, the property is priced at approximately 72% of its market value, creating a built-in equity position with room for future appreciation. Located just minutes from Texas Tech University and downtown Lubbock, this area continues to attract tenants due to its convenience, accessibility, and affordabilit

Key facts

• 6,250 sq ft lot
• Built 1939
• Listed 47 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Paved city street with public maintenance
• Home design: Single family residence (Residential); 1 story
• Construction: Built with unknown construction materials; Pillar/post/pier foundation
• Exterior features: None noted; Other exterior features; Composition roof

Interior

• Kitchen: Other appliances
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type: Other); Has cooling (type: Other)
• Interior features: Updated/remodeled interior; Other interior features

🏷️ Possibly a rental listed for sale. The $59,000 price doesn't fit this home's estimated sale value (~$99,900) and the remarks read like a rental — treat the cards below with caution.

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 $393 ($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: $57k (3.0% 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-, 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.
• Zoned schools: Ervin El (math 17% / reading 17%, grade F, #3,836 of 4,322 statewide, top 91%, 405 students, 97% FRL, charter); Dunbar College Preparatory Academy (math 16% / reading 20%, grade F, #1,491 of 1,662 statewide, top 91%, 430 students, 97% FRL, charter); Estacado H S (math 26% / reading 29%, grade F, #1,183 of 1,632 statewide, top 73%, 897 students, 90% FRL) — zoned schools average 95% FRL vs 60% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 38% district-wide (-17 pts) — the specific schools serving this property underperform the Lubbock ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 93 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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

• In year one you build about $2k of equity ($408 loan paydown + $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• 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 $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.80% ✓
• Cap rate: 14.29%
• Cash-on-cash: 28.57%
• DSCR: 2.27
• GRM: 4.6

CMA / ARV

• ARV (median comp): $99,900
• List price: $59,000
• Delta: -40.94%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.9%
• Equity multiple: 2.99×
• Total profit: $32,893
• Equity at exit: $27,274

10-year hold

• IRR: 34.9%
• Equity multiple: 5.91×
• Total profit: $81,195
• Equity at exit: $42,622

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 79404

• Home prices YoY: 2.0%
• Active inventory: 93
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,060 high
• Mortgage (P&I): −$309
• Tax from tax record: −$110 /mo · $1,318/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $393

Break-even live

Break-even rent $562

Max offer price $59,000

Occupancy floor 58%

Sensitivity live

Price	-10% $427	-5% $410	+0% $393	+5% $377	+10% $360
Rent	-10% $310	-5% $351	+0% $393	+5% $435	+10% $477
Rate	-1.0pp $423	-0.5pp $408	base $393	+0.5pp $378	+1.0pp $362

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
332 37th St Unit 2 Lubbock, TX	3.0	1.0	725	$700	$0.97	22d	1	0.50mi
330 37th St Unit 2 Lubbock, TX	3.0	1.0	750	$750	$1.00	15d	1	0.51mi
1313 25th St Lubbock, TX	2.0	1.0	780	$875	$1.12	45d	1	0.51mi
211 36th St Unit B Lubbock, TX	3.0	1.0	750	$775	$1.03	45d	1	0.51mi
209 36th St Unit A Lubbock, TX	3.0	1.0	750	$750	$1.00	45d	1	0.52mi
3104 Avenue N Lubbock, TX	2.0	1.0	750	$785	$1.05	22d	1	0.55mi
1204 36th St Unit b Lubbock, TX	3.0	2.0	872	$835	$0.96	15d	1	0.56mi
419 38th St Lubbock, TX	3.0	1.0	1206	$950	$0.79	45d	1	0.60mi
512 39th St Lubbock, TX	2.0	1.0	876	$849	$0.97	15d	1	0.62mi
2015 Avenue L Unit B Lubbock, TX	3.0	2.0	980	$960	$0.98	15d	1	0.65mi
2603 Elm Ave Lubbock, TX	3.0	2.0	1214	$1,175	$0.97	45d	1	0.66mi
1609 27th St Lubbock, TX	2.0	1.0	862	$900	$1.04	45d	1	0.70mi
1610 28th St Unit A Lubbock, TX	2.0	2.0	1060	$750	$0.71	15d	1	0.70mi
1312 40th St Lubbock, TX	3.0	1.0	940	$795	$0.85	22d	1	0.83mi
519 42nd St Apt A Lubbock, TX	3.0	1.0	1092	$895	$0.82	15d	1	0.83mi
505 E 37th St Lubbock, TX	3.0	1.0	960	$1,125	$1.17	15d	1	0.84mi
1601 21st St Unit a Lubbock, TX	3.0	2.0	980	$925	$0.94	15d	1	0.84mi
1915 Avenue O Unit O Lubbock, TX	2.0	1.0	732	$750	$1.02	45d	1	0.86mi
1724 27th St Lubbock, TX	2.0	1.0	850	$925	$1.09	45d	1	0.90mi
1901 26th St Lubbock, TX	2.0	1.0	1142	$950	$0.83	22d	1	0.93mi
220 44th St Unit A Lubbock, TX	3.0	2.0	980	$910	$0.93	15d	1	0.96mi
531 44th St Lubbock, TX	3.0	2.0	1300	$1,090	$0.84	15d	1	0.97mi
1915 26th St Lubbock, TX	3.0	1.0	1221	$1,100	$0.90	45d	1	0.98mi
1904 24th St Lubbock, TX	3.0	1.0	1172	$1,100	$0.94	45d	1	0.98mi
1920 27th St Unit 1 Lubbock, TX	3.0	3.0	1366	$1,500	$1.10	45d	1	1.00mi
529 45th St Unit A Lubbock, TX	3.0	1.0	1100	$875	$0.80	15d	1	1.03mi
519 45th St Unit A Lubbock, TX	3.0	1.0	1100	$850	$0.77	15d	1	1.03mi
1107 45th St Unit B Lubbock, TX	2.0	1.0	728	$850	$1.17	45d	1	1.04mi
520 46th St Unit A Lubbock, TX	3.0	1.0	1200	$850	$0.71	15d	1	1.06mi
2003 32nd St Unit A Lubbock, TX	2.0	2.0	1228	$1,150	$0.94	45d	1	1.06mi
2007 27th St Lubbock, TX	2.0	1.0	1044	$1,250	$1.20	45d	1	1.07mi
1919 34th St Lubbock, TX	2.0	2.0	1463	$1,100	$0.75	15d	1	1.08mi
1911 21st St Unit B Lubbock, TX	2.0	1.0	714	$750	$1.05	45d	1	1.09mi
1912 21st St Lubbock, TX	3.0	2.0	1473	$1,025	$0.70	45d	1	1.11mi
1119 46th St Unit A Lubbock, TX	2.0	1.0	704	$595	$0.85	22d	1	1.11mi
4606 Avenue C Unit C Lubbock, TX	3.0	2.0	1142	$999	$0.87	15d	1	1.12mi
2106 32nd St Lubbock, TX	3.0	1.0	1398	$925	$0.66	45d	1	1.13mi
2106 32nd St Lubbock, TX	3.0	1.0	1398	$695	$0.50	22d	1	1.13mi
2011 35th St Lubbock, TX	2.0	1.0	810	$800	$0.99	45d	1	1.14mi
2103 33rd St Lubbock, TX	2.0	1.0	1075	$700	$0.65	15d	1	1.15mi

Listing history 25 events

1. 2026-06-22
   days on market $59,000 Active 47 DOM
2. 2026-06-18
   days on market $59,000 Active 44 DOM
3. 2026-06-17
   days on market $59,000 Active 43 DOM
4. 2026-06-16
   days on market $59,000 Active 42 DOM
5. 2026-06-15
   days on market $59,000 Active 41 DOM
6. 2026-06-14
   days on market $59,000 Active 39 DOM
7. 2026-06-13
   days on market $59,000 Active 38 DOM
8. 2026-06-10
   days on market $59,000 Active 36 DOM
9. 2026-06-09
   days on market $59,000 Active 35 DOM
10. 2026-06-08
    days on market $59,000 Active 34 DOM
11. 2026-06-07
    days on market $59,000 Active 33 DOM
12. 2026-06-05
    days on market $59,000 Active 30 DOM
13. 2026-06-03
    days on market $59,000 Active 29 DOM
14. 2026-06-02
    days on market $59,000 Active 28 DOM
15. 2026-06-01
    days on market $59,000 Active 27 DOM
16. 2026-05-31
    days on market $59,000 Active 26 DOM
17. 2026-05-30
    days on market $59,000 Active 25 DOM
18. 2026-05-05
    listed $59,000 Active 1049-char remark
19. 2025-12-03
    price $59,000
20. 2025-12-02
    price $75,000
21. 2024-07-26
    historical $750
22. 2024-06-02
    listed $750
23. 2021-09-15
    listed $49,900
24. 2011-06-02
    soldstatus
25. 2008-06-24
    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: $1,318 · $110/mo
• Projected year-2 tax: $1,318 · $110/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 2/10 Low
• 🌡 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: $12,715
• − Mortgage interest: −$3,305
• − Property taxes: −$1,318
• − Insurance: −$295
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$1,716
• Taxable income: $4,046
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $3,748/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

+18.2% since first listed

8 events — show timeline

• 2026-05-05 Listed $59,000 LARMLS
• 2025-12-03 Price Changed $59,000 LARMLS
• 2025-12-02 Price Changed $75,000 LARMLS
• 2024-07-26 Rental Removed $750 BUILDIUM
• 2024-06-02 Listed for Rent $750 BUILDIUM
• 2021-09-15 Listed $49,900 LARMLS
• 2011-06-02 Sold (Public Records) — Public Records
• 2008-06-24 Sold (Public Records) — Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,318 · +3.1% YoY. Source: county tax records.