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Days294Days on Market
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$137,000

2506 40th St, Lubbock, TX, 79413

On MarketInfo
CommercialInfo
Beds3 Beds
Baths2 Bath
Baths1,041 Sq Ft
price_per_sqft$131.6 / sqft
Year BuiltBuilt in 1950

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 1Bathrooms Full 1
HeatingHeating
CoolingCooling
FlooringVinyl

Exterior

Lot Size7,950 sqft

Building Information

Year Built1950
Roof Type105

Land Information

APNR125837
Lot Number8
SubdivisionBadley
Land UseResidential
Legal DescriptionBADLEY BLK 2 L 8
Census Tract002002
Assessed Land Value$21,500
Assessed Improvement Value$70,307
Assessment Year2025

About this property

Immediate cash flow opportunity now on market. 2 unit residential income property with tenants in place through summer 2026. Main unit is a 2 bedroom 1 bathroom home, and efficiency unit is a 1 bedroom, 1 bathroom. Total rent is $1,600 according to current lease agreements.

Investor Tools

$105,531Estimated Mortgage Balance
$107,000Estimated Equity
0% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$822 /month
Positive
Cash Flow Estimate:
$274 /month

Interested in this property?

Mike Hagler

Brick & Loft Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$87/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$510
$91,807
2025
$21,500
$70,307
$91,807
No

Tax History

Year
Tax Paid
Assessed Value
2024
$510
$91,807

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Citizens State Bank
Open End Mortgage / Open End With Future Advance Clause
$110,000
No
First
Feb 13, 2024
Feb 2029

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$105,531
N/A
0%
99%
$660/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,190/mo
$660/mo
+$530/mo
13.3%

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.

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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