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$118,000

2927 E Baylor Street, Lubbock, TX, 79403

PendingInfo
Beds4 Beds
Baths2 Bath
Baths1,396 Sq Ft
price_per_sqft$85.6 / sqft
Year BuiltBuilt in 1961

Property Lead Type:

Absentee OwnerHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
HeatingHeating
CoolingCooling
FlooringTile

Exterior

Exterior FeaturesNone
Lot Size7,812 sqft

Building Information

Year Built1961
Roof Type114
Garage Spaces264

Land Information

APNR126982
Lot Number870
SubdivisionCherry Point
Land UseResidential
Legal DescriptionCHERRY POINT L 87
Census Tract000902
Assessed Land Value$1,000
Assessed Improvement Value$110,644
Assessment Year2025

About this property

Investor Opportunity - Turnkey Rental with Strong Returns! Don't miss this cash-flowing investment property featuring 4 bedrooms, 2 bathrooms, and two spacious living rooms! The home offers an extended driveway with covered carport, providing ample parking and convenience. Enjoy a large backyard complete with a storage shed, perfect for tenants needing extra space. With a reliable Section 8 tenant in place since 2022 paying $1,300/month, and a new lease secured through 2027, this property provides long-term, stable income from day one. This property meets the 1% rule, making it a strong addition to any investment portfolio. Add this income-producing property to your portfolio today!

Investor Tools

$59,402Estimated Mortgage Balance
$58,598Estimated Equity
49% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$717 /month
Positive
Cash Flow Estimate:
$239 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$218/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,027
$111,644
2025
$1,000
$110,644
$111,644
Yes (2023)

Tax History

Year
Tax Paid
Assessed Value
2024
$2,027
$111,644

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
First Bank & Trust
Commercial
$63,187
No
First
Feb 9, 2023
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$59,402
$58,598
49%
50%
$379/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,425/mo
$379/mo
+$1,046/mo
14.5%

City: Lubbock

2927 E Baylor Street | Property Details | No Agent List