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$342,618

1016 Prospect Ave, Lubbock, TX, 79416

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,100 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$114.24 / sqft
Year BuiltBuilt in 2006

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesCooktop, Disposal, Dishwasher, Gas Cooktop, Microwave, Water Purifier, Water Purifier Owned, Water Softener, Water Softener Owned
FlooringCarpet, Laminate, Tile

Exterior

Lot Size12,371 sqft

Building Information

Year Built2006
Roof Type105
Garage Spaces2

Land Information

APNR304027
Lot Number8770
SubdivisionWestchester Park
Land UseResidential
Legal DescriptionWESTCHESTER PARK L 877 & 878
Census Tract000406
Assessed Land Value$41,200
Assessed Improvement Value$301,418
Assessment Year2025

About this property

Beautiful and Immaculate, one of a kind home in Frenship school district, reflects the best of country living right within the city limits. Custom ceilings and fans throughout the home display the pride of ownership. Custom cabinets with under cabinet lighting make a magnificent display. This home features granite counter tops that shine with glass mosaic tile back-splash. Wooden blinds and lighted plant shelves adorn the living, kitchen and dining areas. Mature landscaping with as sprinkler system in the front make this home the jewel of the neighborhood. Covered patio with an additional outdoor dining area and a raised garden area is the perfect space for relaxing in the Texas sunset. Outdoor storage shop has electricity for all your projects. This home also provides a whole home water softener and Reverse Osmosis system for drinking. With Shopping and dining just around the corner, city living with country benefits abound in this home.

Investor Tools

Property Icon
$342,618
Estimated Property Value
$194,413Estimated Mortgage Balance
$184,147Estimated Equity
43% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,056 /month
Positive
Cash Flow Estimate:
$685 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$729/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,033
$342,618
2025
$41,200
$301,418
$342,618
No

Tax History

Year
Tax Paid
Assessed Value
2024
$7,033
$342,618

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Primewest Mortgage Corp
Fha
$194,413
Yes
First
Jun 29, 2017
Jul 2047

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$158,471
$184,147
53%
46%
$1,166/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,640/mo
$1,166/mo
+$474/mo
5.7%

Learn About the Market: Opportunity in Texas

Local Market Pages
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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Lubbock

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1016 Prospect Ave | Property Details | No Agent List