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$220,000

505 Owen St, Lubbock, TX, 79403

On MarketInfo
Beds4 Beds
Baths2 Bath
Baths2,093 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$105.11 / sqft
Year BuiltBuilt in 1968

Property Lead Type:

Off-Market ListMust-SellAbsentee Owner

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDisposal, Dishwasher, Electric Cooktop, Electric Oven, Gas Water Heater, Water Heater

Exterior

Exterior FeaturesNone
Lot Size34,960 sqft

Building Information

Year Built1968
Roof Type105
Garage Spaces2

Land Information

APNR28222
Lot Number130
SubdivisionLucille
Land UseResidential
Legal DescriptionLUCILLE L 10 & 11
Census Tract000100
Assessed Land Value$30,000
Assessed Improvement Value$203,664
Assessment Year2025

About this property

Welcome Home! Conveniently located just several blocks north of Lubbock Country Club! Easy access to I-27 and a very close location to the airport! The home features a large living areas with a cozy fireplace. The kitchen with painted cabinets overlooks the dining area with a pretty bay window. The yard has a large patio and a storm cellar. The property is a double lot and is approximately .8 of an acre. This 4 bedroom 2 bath home includes a 2 car garage has well as a carport. There are 2 small sheds in the backyard for storage. This home has so many wonderful possibilities with wide open spaces of the quiet location.

Investor Tools

$174,114Estimated Mortgage Balance
$59,550Estimated Equity
25% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,402 /month
Positive
Cash Flow Estimate:
$467 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$406/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,705
$233,664
2025
$30,000
$203,664
$233,664
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,705
$233,664

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Low Va Rates Llc
Va
$192,130
Yes
First
Jun 18, 2021
Jul 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$174,114
$59,550
25%
75%
$1,152/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,672/mo
$1,152/mo
+$520/mo
8.6%

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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505 Owen St | Property Details | No Agent List