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$228,000

508 N Homestead Ave, Lubbock, TX, 79416

Off MarketInfo
Beds4 Beds
Baths2 Bath
Baths1,654 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$139.06 / sqft
Year BuiltBuilt in 1984

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesCooktop, Disposal, Dishwasher, Electric Cooktop, Microwave
FlooringCarpet, Vinyl

Exterior

Lot Size9,108 sqft

Building Information

Year Built1984
Roof Type114
Garage Spaces2

Land Information

APNR100857
Lot Number1310
SubdivisionShadow Hills
Land UseResidential
Legal DescriptionSHADOW HILLS L 131
Census Tract010417
Assessed Land Value$13,662
Assessed Improvement Value$190,132
Assessment Year2025

About this property

OPEN HOUSE 11/5 & 11/6 2-4 PM!! Beautifully updated 4 bedroom home in Shadow Hills! What a fabulous price on this well cared for home located on a quiet block in the Frenship school district. You will love the spacious bedrooms, the isolated primary bedroom with a walk in closet, new flooring, new granite and backsplash in kitchen, and new paint throughout the home! The living room is inviting and features a lovely brick fireplace. The huge backyard has unlimited possibilities. Don't miss out on seeing this gem in a popular subdivision.

Investor Tools

Property Icon
$228,000
Estimated Property Value
$225,834Estimated Mortgage Balance
$16,436Estimated Equity
1% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,380 /month
Positive
Cash Flow Estimate:
$460 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$363/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,219
$203,794
2025
$13,662
$190,132
$203,794
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,219
$203,794

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Guardian Mortgage Co Inc
Fha
$225,834
Yes
First
Dec 6, 2022
Jan 2053

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$211,564
$16,436
7%
93%
$1,354/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,920/mo
$1,354/mo
+$566/mo
10.1%

Learn About the Market: Opportunity in Texas

Local Market Pages
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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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508 N Homestead Ave | Property Details | No Agent List