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$225,000

2702 31st Street, Lubbock, TX, 79410

$249,494 ARVInfo
On MarketInfo
Beds4 Beds
Baths3 Bath
Baths2,551 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$88.2 / sqft
Year BuiltBuilt in 1948

Property Lead Type:

Deal ListAbsentee OwnerHigh EquityVacant Homes

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
HeatingHeating
CoolingCooling
AppliancesRange, Dishwasher, Free-Standing Gas Range, Free-Standing Range, Microwave, Gas Water Heater, Water Heater
FlooringVinyl, Wood

Exterior

Exterior FeaturesBalcony, Fire Pit, Private Yard
Lot Size8,400 sqft

Building Information

Year Built1948
Roof Type105

Land Information

APNR52845
Lot Number10
SubdivisionCollege View
Land UseResidential
Legal DescriptionCOLLEGE VIEW BLK 9 L 10
Census Tract001502
Assessed Land Value$33,000
Assessed Improvement Value$279,928
Assessment Year2025

About this property

Spacious 5-bedroom, 3-bath home with a balcony and 2-car carport — purpose-built for the Texas Tech rental market. This property previously rented at $2,800/month and has the layout and square footage to command $3,000+ once updated. Located in the heart of Tech Terrace, one of Lubbock's most sought-after student neighborhoods. Students can walk to coffee shops and a grocery store, and the property sits directly in front of a Texas Tech bus stop — making it effortless to get to campus without a car. Location like this is a major selling point when it comes time to lease. We're early in the summer, giving the right investor plenty of runway to renovate and have it tenant-ready before the fall semester. The bones are solid, the floor plan works, and the upside is clear — this one just needs a little attention to reach its full potential. Don't miss the window to get ahead of the back-to-school rush.

Investor Tools

Property Icon
$348,000
Estimated Property Value
$0Estimated Mortgage Balance
$233,503Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$249,494
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,088 /month
Positive
Cash Flow Estimate:
$696 /month

Interested in this property?

David Ishak

Oasis Properties

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$665/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,236
$312,928
2025
$33,000
$279,928
$312,928
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,236
$312,928

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Primelending
Conventional
$132,750
No
First
Jun 6, 2019
Jul 2049

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$114,497
$233,503
67%
33%
$796/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,040/mo
$796/mo
+$1,244/mo
7.0%

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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2702 31st Street | Property Details | No Agent List