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Days52Days on Market
Views1view

$215,000

3508 42nd Street, Lubbock, TX, 79413

On MarketInfo
Beds3 Beds
Baths3 Bath
Baths1,963 Sq Ft
Package PropertyPackage Property
price_per_sqft$109.53 / sqft
Year BuiltBuilt in 1954

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 3Bathrooms Full 3
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Microwave
FlooringCarpet, Hardwood, Tile

Exterior

Lot Size7,800 sqft

Building Information

Year Built1954
Roof Type105
Garage Spaces1

Land Information

APNR119093
Lot Number16
SubdivisionSlaton Myrtle
Land UseResidential
Legal DescriptionSLATON MYRTLE BLK 8 E20'OF 16& W40'OF 17
Census Tract001906
Assessed Land Value$25,000
Assessed Improvement Value$194,633
Assessment Year2025

About this property

Great opportunity for an investor to build their portfolio with a tenant already in place! Instant cash flow! This home is centrally located and close to Tech and is one of the only homes in this area to have a third bathroom perfect for Tech students. The back has an ADU, perfect for rental opportunities! Updates include: new floors, painting, new hot water heater, new blinds, new gas lines, plumbing upgrades and recent landscaping ensuring the buyer has piece of mind! Set up a showing today before this one is gone!

Investor Tools

$109,639Estimated Mortgage Balance
$109,994Estimated Equity
50% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,318 /month
Positive
Cash Flow Estimate:
$439 /month

Interested in this property?

Dianna Romans

Keller Williams Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$381/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,468
$219,633
2025
$25,000
$194,633
$219,633
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,468
$219,633

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Royal United Mortgage Llc
Conventional
$120,750
No
First
Aug 5, 2021
Sep 2036

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$109,639
$109,994
50%
50%
$724/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,670/mo
$724/mo
+$946/mo
9.1%

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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3508 42nd Street, Lubbock, TX 79413 | Property Details | No Agent List