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$371,000

12220 Chicago Ave, Lubbock, TX, 79424

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,975 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$240.46 / sqft
Year BuiltBuilt in 1990

Property Lead Type:

Absentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Microwave, Oven
FlooringCarpet, Vinyl

Exterior

Exterior FeaturesCourtyard
Lot Size1.48 acres

Building Information

Year Built2014
Roof Type105
Garage Spaces2

Land Information

APNR68942
SubdivisionFrankford Farms
Land UseResidential
Legal DescriptionFRANKFORD FARMS BAL OF TR 20 LESS .260 (LESS HS)
Census Tract010421
Assessed Land Value$13,320
Assessed Improvement Value$5,710
Assessment Year2025

About this property

Welcome to this two-story 3-bedroom, 2-bath home featuring a Flex/Bonus space and plenty of room for horses. Close to all amenities the city has to offer, this piece of country living in an established area on 2.476 acres, is unbeatable. When you come in from the covered porch you are greeted with tall ceilings in the living room. The updated kitchen opens to a charming outdoor oasis fenced courtyard—perfect for enjoying morning coffee or quiet evenings outdoors. Equestrians will love the well-maintained barn with six horse stalls. The properties paddocks are enclosed with pipe fencing. This property offers the perfect blend of comfort, charm, and functionality—an ideal place to call home for both you and your four-legged companions.

Investor Tools

Property Icon
$371,000
Estimated Property Value
$332,000Estimated Mortgage Balance
$42,382Estimated Equity
11% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,849 /month
Positive
Cash Flow Estimate:
$950 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$166/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$143
$19,030
2025
$13,320
$5,710
$19,030
No

Tax History

Year
Tax Paid
Assessed Value
2024
$143
$19,030

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Ark-La-Tex Finance Services Llc
Conventional
$332,000
No
First
Oct 10, 2025
Nov 2040

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$328,618
$42,382
11%
89%
$1,991/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,690/mo
$1,991/mo
$-301/mo
5.5%

Learn About the Market: Opportunity in Texas

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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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12220 Chicago Ave | Property Details | No Agent List