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$210,000

2503 24th Street, Lubbock, TX, 79410

On MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,172 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$96.69 / sqft
Year BuiltBuilt in 1939

Property Lead Type:

Deal ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Heating CentralHeating Central
CoolingCooling
AppliancesWater Heater
FlooringCarpet, Concrete, Tile, Vinyl

Exterior

Exterior FeaturesBarbecue, Awning(s), Outdoor Grill, Private Yard
Lot Size7,125 sqft

Building Information

Year Built1939
Roof Type105

Land Information

APNR46116
Lot Number20
SubdivisionEllwood Place
Land UseResidential
Legal DescriptionELLWOOD PL BLK 27 L 2
Census Tract001501
Assessed Land Value$45,350
Assessed Improvement Value$160,650
Assessment Year2025

About this property

Solid 4-bedroom, 3-bath home with a carport and bonus sunroom — a versatile layout that tenants love and a proven performer in the Texas Tech rental market. This property previously rented at $2,200/month as a single unit, but the real upside is in the details. The home already has 2 separate meters and with a single doorway closure, can easily be converted into two independent units — a 3/2 and a 2/1 — dramatically increasing rental potential and giving an investor the flexibility to lease to two separate groups of tenants. Situated in the heart of Tech Terrace, students enjoy walkable access to coffee shops and a nearby grocery store, putting this property in one of Lubbock's most desirable student neighborhoods. We're early in the summer, giving an investor the perfect window to make the conversion, freshen it up, and have both units fully leased before the fall semester kicks off. The bones are there, the infrastructure is already in place — this one just needs someone to pull the trigger. Get in early, get it ready, and capture the fall rush. Priced to Sell, it won't last long!

Investor Tools

Property Icon
$280,000
Estimated Property Value
$0Estimated Mortgage Balance
$134,708Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,680 /month
Positive
Cash Flow Estimate:
$560 /month

Interested in this property?

David Ishak

Oasis Properties

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$429/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,747
$206,000
2025
$45,350
$160,650
$206,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,747
$206,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Neighborhood Loans
Conventional
$153,750
No
First
May 18, 2023
Jun 2053

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$145,292
$134,708
48%
52%
$922/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,740/mo
$922/mo
+$818/mo
7.5%

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.

Explore Texas Explore This Area
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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2503 24th Street | Property Details | No Agent List