Last 24 Hours
$40,000
NAL Estimated Property Value216 Ave S, Lubbock, TX, 79415
$52,000 ARV
Off Market
Commercial
1 Beds
1 Bath
15,960 Sq Ft
$43.67 / sqft
Built in 1977Highlights
Interior
Bedrooms 1
Bathrooms 1AppliancesElectric Oven, Electric Range, Refrigerator
Exterior
Lot Size6,125 sqft
Land Information
APNR45983
Lot Number8
SubdivisionRitchey J R (R&Mc Blk 26)
Land UseResidential
Legal DescriptionRITCHEY J R BLK 26 E122.5'OF 8
Census Tract000202
Assessed Land Value$1,500
Assessment Year2025
About this property
Incredible cash flow opportunity in redeveloping area near Texas Tech University. 6 quadplexes, 24 total units. Current rents average just over $400 per month, currently management is leasing at $445 per unit. Potential to increase gross rents to over $10,000 per month in current condition and a value add opportunity for investors looking for a property to improve.
Investor Tools
$40,000
Estimated Property Value
$0Estimated Mortgage Balance
$40,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)*
$52,000
Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,182 /month
Positive
Cash Flow Estimate:
$1,394 /month
Financing Details
Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$19/month
No HOA
5.947%
Tax Information
Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$27
$1,500
2025
$1,500
N/A
$1,500
No
Tax History
Year
Tax Paid
Assessed Value
2024
$27
$1,500
Equity Summary
Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$40,000
100%
0%
$0/mo
12.4%