3216 Grinnell St · Lubbock, TX 79415

$75,000

2 bd · 1.0 ba · 1,023 sqft · SingleFamily public records · 279 Days on market

Built 1950 7,579 sqft lot $73/sqft · 53% above area

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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

MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

Key facts

• Move-in ready
• Remodeled
• Great location

Tags

• REMODELED
• CORNER LOT
• GREAT LOCATION
• NEW FENCE
• LARGE BACKYARD
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $75k).
• Recommended offer: $66k (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: 110 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $519 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 $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 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 1950 — 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: 1.32% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.44%
• DSCR: 1.64
• GRM: 6.3

CMA / ARV

• ARV (median comp): $49,077
• List price: $75,000
• Delta: 52.82%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $3,967
• Equity at exit: $11,183

10-year hold

• IRR: 14.3%
• Equity multiple: 2.16×
• Total profit: $24,271
• Equity at exit: $6,485

Cash invested: $21,000 (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 79415

• Home prices YoY: -20.1%
• Active inventory: 110
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $990 high
• Mortgage (P&I): −$393
• Tax from tax record: −$105 /mo · $1,257/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $253

Break-even live

Break-even rent $670

Max offer price $75,000

Occupancy floor 69%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3119 Jarvis St Lubbock, TX	3.0	2.0	1352	$1,025	$0.76	13d	1	0.15mi
3318 Itasca St Lubbock, TX	3.0	1.5	1068	$950	$0.89	13d	1	0.17mi
701 N Indiana Ave Lubbock, TX	1.0–2.0	1.0–2.0	675	$850	$1.26	21d	1	0.20mi
3307 Erskine St Lubbock, TX	3.0	1.0	1120	$1,000	$0.89	21d	1	0.20mi
1415 N Knoxville Ave Lubbock, TX	3.0–4.0	2.0	1291	$934	$0.72	13d	1	0.45mi
2906 Cornell St Lubbock, TX	2.0	1.0	920	$875	$0.95	13d	1	0.50mi
2715 Fordham St Unit 7 Lubbock, TX	2.0	2.0	1100	$1,150	$1.05	43d	1	0.50mi
3114 Baylor St Lubbock, TX	2.0	1.5	1411	$1,150	$0.82	43d	1	0.52mi
2709 Cornell St Lubbock, TX	3.0	2.0	1140	$1,050	$0.92	21d	1	0.69mi
3207 Amherst St Lubbock, TX	3.0	1.0	1020	$1,200	$1.18	43d	1	0.73mi
3701 Clovis Rd Lubbock, TX	1.0–2.0	1.0–2.0	833	$1,400	$1.68	13d	19	0.73mi
3315 Amherst St Lubbock, TX	2.0	1.0	950	$875	$0.92	21d	1	0.74mi
2613 Auburn St Lubbock, TX	2.0	1.0	978	$875	$0.89	43d	1	0.93mi
2805 1st Pl Lubbock, TX	2.0	1.0	730	$895	$1.23	21d	1	0.95mi
2803 2nd St Lubbock, TX	2.0	1.0	784	$800	$1.02	43d	1	1.01mi
2512 1st St Lubbock, TX	2.0	1.0	1050	$900	$0.86	13d	1	1.08mi
3510 4th St Lubbock, TX	3.0	2.0	1438	$1,600	$1.11	13d	1	1.11mi
4412 Kemper St Lubbock, TX	3.0	2.0	1157	$1,250	$1.08	43d	1	1.26mi
4512 Lehigh St Lubbock, TX	2.0	1.0	720	$800	$1.11	43d	1	1.41mi
4605 Harvard St Lubbock, TX	3.0	2.0	1362	$1,400	$1.03	21d	1	1.43mi
114 Avenue V Lubbock, TX	2.0	1.0	728	$750	$1.03	43d	1	1.45mi
4615 Grinnell St Lubbock, TX	3.0	1.5	1446	$1,474	$1.02	43d	1	1.47mi
4615 Grinnell St Lubbock, TX	3.0	1.5	1446	$1,700	$1.18	13d	1	1.47mi

Listing history 43 events

1. 2026-06-18
   days on market $75,000 Active 279 DOM
2. 2026-06-18
   remarks 394-char remark
3. 2026-06-17
   days on market $75,000 Active 278 DOM
4. 2026-06-16
   days on market $75,000 Active 277 DOM
5. 2026-06-15
   days on market $75,000 Active 276 DOM
6. 2026-06-14
   days on market $75,000 Active 274 DOM
7. 2026-06-13
   days on market $75,000 Active 273 DOM
8. 2026-06-10
   days on market $75,000 Active 271 DOM
9. 2026-06-09
   days on market $75,000 Active 270 DOM
10. 2026-06-08
    days on market $75,000 Active 269 DOM
11. 2026-06-07
    days on market $75,000 Active 268 DOM
12. 2026-06-05
    days on market $75,000 Active 265 DOM
13. 2026-06-03
    days on market $75,000 Active 264 DOM
14. 2026-06-02
    days on market $75,000 Active 263 DOM
15. 2026-06-01
    days on market $75,000 Active 262 DOM
16. 2026-05-31
    days on market $75,000 Active 261 DOM
17. 2026-05-30
    days on market $75,000 Active 260 DOM
18. 2026-05-15
    status Active 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

19. 2026-05-11
    status Pending 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

20. 2026-04-07
    status Active 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

21. 2026-04-07
    price $75,000 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

22. 2026-04-01
    historical 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

23. 2026-01-04
    status Active 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

24. 2026-01-01
    historical 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

25. 2025-12-15
    price $85,000 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

26. 2025-12-09
    price $87,500 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

27. 2025-12-05
    status Active 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

28. 2025-12-01
    historical 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

29. 2025-09-27
    price $90,000 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

30. 2025-09-16
    price $95,000 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

31. 2025-09-10
    price $97,500 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

32. 2025-08-26
    listed $100,000 Active 292-char remark

    Show marketing remark (292 chars)

    MOTIVATED SELLER: A freshly remodeled 3/1 in Arnett Benson on a corner lot. Across the street from the Elementary and just a block East of Indiana this house sits at a great location. Complete with a new fence around the large backyard this home is move-in ready for the next owner or tenant!

33. 2025-08-19
    price $100,000
34. 2025-08-08
    price $105,000
35. 2024-01-17
    soldstatus
36. 2024-01-12
    soldstatus Closed
37. 2023-12-22
    status Pending
38. 2023-12-11
    listed $55,500 Active
39. 2021-07-26
    soldstatus
40. 2015-01-16
    soldstatus
41. 2014-02-14
    soldstatus
42. 2012-12-05
    soldstatus
43. 1998-06-01
    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: $1,257 · $105/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$116/yr (+$10/mo · 9.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 20 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: $11,879
• − Mortgage interest: −$4,201
• − Property taxes: −$1,257
• − Insurance: −$375
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$2,182
• Taxable income: $1,964
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $2,562/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

+35.1% since first listed

26 events — show timeline

• 2026-05-15 Relisted — LARMLS
• 2026-05-11 Pending — LARMLS
• 2026-04-07 Relisted — LARMLS
• 2026-04-07 Price Changed $75,000 LARMLS
• 2026-04-01 Delisted — LARMLS
• 2026-01-04 Relisted — LARMLS
• 2026-01-01 Delisted — LARMLS
• 2025-12-15 Price Changed $85,000 LARMLS
• 2025-12-09 Price Changed $87,500 LARMLS
• 2025-12-05 Relisted — LARMLS
• 2025-12-01 Delisted — LARMLS
• 2025-09-27 Price Changed $90,000 LARMLS
• 2025-09-16 Price Changed $95,000 LARMLS
• 2025-09-10 Price Changed $97,500 LARMLS
• 2025-08-26 Listed $100,000 LARMLS
• 2025-08-19 Price Changed $100,000 LARMLS
• 2025-08-08 Price Changed $105,000 LARMLS
• 2024-01-17 Sold (Public Records) — Public Records
• 2024-01-12 Sold (MLS) — LARMLS
• 2023-12-22 Pending — LARMLS
• 2023-12-11 Listed $55,500 LARMLS
• 2021-07-26 Sold (Public Records) — Public Records
• 2015-01-16 Sold (Public Records) — Public Records
• 2014-02-14 Sold (Public Records) — Public Records
• 2012-12-05 Sold (Public Records) — Public Records
• 1998-06-01 Sold (Public Records) — Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,257 · -4.5% YoY. Source: county tax records.