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$220,000

NAL Estimated Property Value

509 N Homestead Ave, Lubbock, TX, 79416

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,622 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$92.48 / sqft
Year BuiltBuilt in 1984

Property Lead Type:

BankruptcyOff-Market ListDeal ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDisposal, Dishwasher
FlooringCarpet

Exterior

Lot Size8,820 sqft

Building Information

Year Built1984
Roof Type114
Garage Spaces2

Land Information

APNR114750
Lot Number1240
SubdivisionShadow Hills
Land UseResidential
Legal DescriptionSHADOW HILLS L 124
Census Tract010417
Assessed Land Value$13,230
Assessed Improvement Value$181,434
Assessment Year2025

About this property

Nice curb appeal on this 3 bedroom/2 bath home in Frenship School District. It is located on a quiet corner with an inviting front porch. The Large living area has a beautiful fireplace with gas starter! The front kitchen has a breakfast bar. Isolated master bedroom. The large laundry room has storage and space for a freezer. Spacious yard with a large back patio. Sprinkler system. There is a 10 x 10 Morgan building and it is wired for both 110 and 220 power. The home has a no paint facia and soffit and gutters that are about 3 years old. The windows have been replaced and are triple pane glass (by Woodbridge). The exterior A/C unit was replaced in July 2018. This is a great home that is convenient to shopping and dining. Easy access to the loop and to TTU, medical district and LCU. Don't miss this one!

Investor Tools

Property Icon
$220,000
Estimated Property Value
$162,822Estimated Mortgage Balance
$57,178Estimated Equity
25% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,320 /month
Positive
Cash Flow Estimate:
$440 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$440/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,179
$194,664
2025
$13,230
$181,434
$194,664
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,179
$194,664

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Homexpress Mortgage Corp
Conventional
$174,420
No
First
Oct 1, 2022
Nov 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$162,822
$57,178
25%
74%
$1,046/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,640/mo
$1,046/mo
+$594/mo
8.9%

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.

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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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509 N Homestead Ave | Property Details | No Agent List