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Owner Contacts

$257,000

NAL Estimated Property Value

1205 Fm 2378, Lubbock, TX, 79407

Off Market

3 Beds

2 Bath

1,826 Sq Ft

Single Family Residence

$98.03 / sqft

Built in 1940

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3

Bathrooms Full 1.5

Garage Available

AppliancesRange, Free-Standing Electric Range, Free-Standing Range, Microwave

FlooringCarpet, Hardwood, Laminate, Vinyl

Exterior

Lot Size5.20 acres

Building Information

Year Built1940

Roof Type114

Garage Spaces2

Land Information

APNR107966

Lot Number1010

Land UseResidential

Legal DescriptionBLK D6 SEC 13 AB 348 TR A1 AC: 5.21

Census Tract010416

Assessed Land Value$14,000

Assessed Improvement Value$116,168

Assessment Year2025

About this property

What A Find! Immaculate Country Property on 5.21 Acres. 2 Bedroom 2 Bath w/ Detached 4 Car Carport, 2 Car Garage w/ Attached Apartment or Workshop, & 25 x 25 Covered RV Parking w/ Hookup. Home Was Moved to This Location in 1990-91, so Plumbing, Electrical, & Septic Were New Then. Spacious Living/Dining Room w/ Beautiful Hardwood Flooring & Ceiling, & Fabulous Storage Closets. Family Room w/ Wood Laminate Flooring & Private Bath Can Also Be An Isolated 3rd Bedroom. Lots of Nice Space & Cabinetry in Light & Bright Kitchen. Hall Bath is Handicap Accessible & There Are Handicap Ramps at Frt & Back Doors! HVAC & Heat Pump 2 Yrs Old, Plumbing for Both Baths 8 Months Old, Recent Windows, New Roof 2013, Garage Roof 1 Yr, & 24 x 24 Carport 2 yrs old. 26 x 40 Garage w/Attached Room & Unfinished Bath Could be Perfect for Efficiency Apartment or Workshop. Awesome Back Deck & Well Maintained Yard w/Chain Link Fencing. Storage Building Fenced Separate for Dogs. 2 Wells. A Must See!

Investor Tools

$257,000

Estimated Property Value

$141,844Estimated Mortgage Balance

$115,156Estimated Equity

44% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

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Rent-to-Value Ratio: 0.72%

Rent Estimate

$1,542 /month

Positive

Cash Flow Estimate:

$514 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$185/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$938

$130,168

2025

$14,000

$116,168

$130,168

Tax History

Year

Tax Paid

Assessed Value

2024

$938

$130,168

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Amerihome Mortgage Company Llc

Fha

$159,983

Yes

First

Jul 21, 2020

Aug 2050

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$141,844

$115,156

44%

55%

$960/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$1,017/mo

$960/mo

+$57/mo

4.7%

Learn About the Market: Opportunity in Texas

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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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