709 80th St

Lubbock, TX 79404

$249,999F

3 bd · 3.0 ba · 3,788 sqft · Built 1962 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,402/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$551
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $-754/mo
• Annual: $-9,053/yr
• Cap rate: 2.67%
• Cash-on-cash: -12.93%
• DSCR: 0.42
• 1% rule: 0.56%
• Cash to close: $70,000

Investor read

• This is a 3-bed/3.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-754 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (53.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (43.9% below list).
• It's been on market 108 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (53.3% below list) — sets the bar for cash-flow.
• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.2% local appreciation)).
• 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: Hodges El (math 27% / reading 27%, grade F, #2,791 of 4,322 statewide, top 68%, 255 students, 98% 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 24% at this address vs 38% district-wide (-13 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; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $39k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 33% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?