1217 N Chicago Ave · Lubbock, TX 79416

$354,900

6 bd · 6.0 ba · 2,750 sqft · MultiFamily public records · 126 Days on market

Built 2020 Good condition 7,406 sqft lot

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Why this score? — see what drove the D 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 +12.4/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.7/10.0
• Rent growth +3.1/5.0
• Schools +3.1/10.0
• 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

Ready for a new owner this spacious open concept duplex offers luxury vinyl plank flooring throughout, a fresh modern kitchen with granite countertops, a large island and pantry, nice size bedrooms and two full baths. This is a great property to add to your portfolio.

Key facts

• Pantry
• Open concept
• Large island

Tags

• OPEN CONCEPT
• LUXURY VINYL PLANK FLOORING
• MODERN KITCHEN
• GRANITE COUNTERTOPS
• LARGE ISLAND
• PANTRY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $355k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-56 ($-673/yr) — negative. Per door: $-28/mo.
• To cash-flow at today's rent, offer at most $345k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (11.5% below list).
• Recommended offer: $312k (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-, 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: Centennial El (math 38% / reading 36%, grade F, #1,769 of 4,322 statewide, top 44%, 618 students, 84% FRL); Mackenzie Middle (math 19% / reading 27%, grade F, #1,327 of 1,662 statewide, top 81%, 515 students, 88% FRL); Coronado H S (math 34% / reading 38%, grade F, #930 of 1,632 statewide, top 57%, 1,960 students, 66% FRL) — zoned schools average 79% FRL vs 60% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 466 active listings in the ZIP; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $3,140/mo this rent would consume 59% of the median local household income ($64k/yr) (locally 2214% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 126 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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

• 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 $312,312 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.21% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.36×
• Total profit: $-63,458
• Equity at exit: $52,917

10-year hold

• IRR: -12.2%
• Equity multiple: 0.30×
• Total profit: $-69,457
• Equity at exit: $30,685

Cash invested: $99,372 (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 79416

• Home prices YoY: -20.0%
• Rents YoY: 2.2%
• Active inventory: 466
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $3,140 high
• Mortgage (P&I): −$1,861
• Tax from tax record: −$528 /mo · $6,332/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $-56

Break-even live

Break-even rent $3,211

Max offer price $344,993

Occupancy floor 97%

Sensitivity live

Price	-10% $145	-5% $44	+0% $-56	+5% $-157	+10% $-257
Rent	-10% $-304	-5% $-180	+0% $-56	+5% $68	+10% $192
Rate	-1.0pp $123	-0.5pp $34	base $-56	+0.5pp $-148	+1.0pp $-242

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,140
Total (2 units)			$3,140

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: $88,725
• Closing costs: $10,647
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-22
   days on market $354,900 Active 126 DOM
2. 2026-06-18
   days on market $354,900 Active 123 DOM
3. 2026-06-17
   days on market $354,900 Active 122 DOM
4. 2026-06-16
   days on market $354,900 Active 121 DOM
5. 2026-06-15
   days on market $354,900 Active 120 DOM
6. 2026-06-14
   days on market $354,900 Active 118 DOM
7. 2026-06-13
   days on market $354,900 Active 117 DOM
8. 2026-06-10
   days on market $354,900 Active 115 DOM
9. 2026-06-09
   days on market $354,900 Active 114 DOM
10. 2026-06-08
    days on market $354,900 Active 113 DOM
11. 2026-06-07
    days on market $354,900 Active 112 DOM
12. 2026-06-05
    days on market $354,900 Active 109 DOM
13. 2026-06-03
    days on market $354,900 Active 108 DOM
14. 2026-06-02
    days on market $354,900 Active 107 DOM
15. 2026-06-01
    days on market $354,900 Active 106 DOM
16. 2026-05-31
    days on market $354,900 Active 105 DOM
17. 2026-05-30
    days on market $354,900 Active 104 DOM
18. 2026-05-02
    price $354,900 268-char remark

    Show marketing remark (268 chars)

    Ready for a new owner this spacious open concept duplex offers luxury vinyl plank flooring throughout, a fresh modern kitchen with granite countertops, a large island and pantry, nice size bedrooms and two full baths. This is a great property to add to your portfolio.

19. 2026-03-31
    price $359,900 268-char remark

    Show marketing remark (268 chars)

    Ready for a new owner this spacious open concept duplex offers luxury vinyl plank flooring throughout, a fresh modern kitchen with granite countertops, a large island and pantry, nice size bedrooms and two full baths. This is a great property to add to your portfolio.

20. 2026-02-15
    listed $369,900 Active 268-char remark

    Show marketing remark (268 chars)

    Ready for a new owner this spacious open concept duplex offers luxury vinyl plank flooring throughout, a fresh modern kitchen with granite countertops, a large island and pantry, nice size bedrooms and two full baths. This is a great property to add to your portfolio.

21. 2024-07-06
    price $374,000
22. 2023-10-13
    historical $1,275
23. 2023-09-28
    listed $1,275
24. 2023-08-04
    historical $1,275
25. 2023-07-25
    listed $1,275
26. 2020-08-03
    soldstatus
27. 2020-07-15
    listed $350,000
28. 2020-04-07
    listed $329,990

ⓘ 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: $6,332 · $528/mo
• Projected year-2 tax: $6,495 · $541/mo
• Expected delta: +$163/yr (+$14/mo · 2.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°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: $37,680
• − Mortgage interest: −$19,880
• − Property taxes: −$6,332
• − Insurance: −$1,774
• − Repairs & maintenance: −$3,014
• − Management: −$3,014
• − Depreciation: −$10,324
• Taxable loss: −$6,660
• Est. tax savings @ 24.0%: +$1,598
• After-tax cash flow: $925/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This spacious open concept duplex is in good condition with modern updates and a well-maintained exterior. It is ready for a new owner and can be further enhanced with minor cosmetic upgrades to increase its value.

Value-add opportunities

• Both Painting the exterior brick and landscaping — Enhances curb appeal and can increase both resale and rental value.
• Both Updating the flooring in the bathrooms — Modernizes the bathrooms and can increase both resale and rental value.
• Both Adding smart home features — Improves convenience and can increase both resale and rental value.
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior brick and landscaping — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Updating the flooring in the bathrooms — Modernizes the bathrooms and can increase both resale and rental value. ↑
• Both Adding smart home features — Improves convenience and can increase both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 36,442
• Household income: $63,896
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2214.0

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 0.62)
• Race & ethnicity: White 49% Hispanic / Latino 35% Two or more races 14% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Chinese 1% Tagalog/Filipino 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: ▼ -56.94%
• Current HPI: 227.7841
• Rent YoY: ▲ 2.21%
• 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

+7.5% since first listed

11 events — show timeline

• 2026-05-02 Price Changed $354,900 LARMLS
• 2026-03-31 Price Changed $359,900 LARMLS
• 2026-02-15 Listed $369,900 LARMLS
• 2024-07-06 Price Changed $374,000 LARMLS
• 2023-10-13 Rental Removed $1,275 APPFOLIO
• 2023-09-28 Listed for Rent $1,275 APPFOLIO
• 2023-08-04 Rental Removed $1,275 APPFOLIO
• 2023-07-25 Listed for Rent $1,275 APPFOLIO
• 2020-08-03 Sold (MLS) — LARMLS
• 2020-07-15 Listed $350,000 LARMLS
• 2020-04-07 Listed $329,990 LARMLS

Property tax history

+58.4%/yr

Latest (2025): $6,332 · -8.2% YoY. Source: county tax records.