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$232,000

2511 28th Street, Lubbock, TX, 79410

On MarketInfo
Beds2 Beds
Baths1 Bath
Baths1,300 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$178.46 / sqft
Year BuiltBuilt in 1943

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 3Bathrooms Full 3
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
FlooringHardwood

Exterior

Exterior FeaturesNone
Lot Size7,313 sqft

Building Information

Year Built1943
Roof Type105
Garage Spaces240

Land Information

APNR101464
Lot Number6
SubdivisionSimmons
Land UseResidential
Legal DescriptionSIMMONS BLK 3 L 6
Census Tract001502
Assessed Land Value$33,000
Assessed Improvement Value$156,522
Assessment Year2025

About this property

Investment opportunity in Tech Terrace close to Texas Tech University, Medical District, Food King, J&B Coffee, and much more. Main house is 2 bed, 2 bath with a spacious living room and lots of natural lighting, dining area, and hardwood flooring throughout. Guest unit is an open concept area 1 bed, 1 bath with mini split. Currently leased through June 2026. Schedule your showing today!

Investor Tools

$169,513Estimated Mortgage Balance
$20,009Estimated Equity
10% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,392 /month
Positive
Cash Flow Estimate:
$464 /month

Interested in this property?

Mackenzie Siler

ERA Newlin & Company

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$380/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,617
$189,522
2025
$33,000
$156,522
$189,522
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,617
$189,522

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Lone Oak Bank Na
Building Or Construction Loan
$180,000
No
First
Mar 3, 2023
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$169,513
$20,009
10%
89%
$1,080/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,740/mo
$1,080/mo
+$660/mo
11.0%

City: Lubbock