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$266,000

NAL Estimated Property Value

605 N Elkhart Ave, Lubbock, TX, 79416

Off MarketInfo
Beds3 Beds
Baths3 Bath
Baths2,214 Sq Ft
price_per_sqft$97.11 / sqft
Year BuiltBuilt in 2007

Property Lead Type:

Off-Market ListDeal ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 6Bathrooms Full 6
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Electric Oven, Electric Range, Microwave, Refrigerator

Exterior

Lot Size6,900 sqft

Building Information

Year Built2005
Roof Type105
Garage Spaces342

Land Information

APNR173722
Lot Number2680
SubdivisionWestern Estates
Land UseResidential
Legal DescriptionWESTERN ESTATES L 268
Census Tract000409
Assessed Land Value$17,500
Assessed Improvement Value$216,576
Assessment Year2025

About this property

Excellent cash flowing duplex in the popular Lynnwood/Fountainwood subdivisions just a few miles from Texas Tech. Each unit has a 3 bedroom, 3 bath, 2 car garage (total of 6 beds, 6 baths, 4 car garage). Built in 2007, a new AC compressor install on side A; Side B has new hot water heater and refrigerator. Home warranty will transfer to new buyer. These duplexes are not lasting long. Units fully occupied with lease income averaging $999 per month per unit and $1990 Total per month. Speak with listing agent to schedule a showing.

Investor Tools

Property Icon
$266,000
Estimated Property Value
$137,702Estimated Mortgage Balance
$128,298Estimated Equity
48% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,596 /month
Positive
Cash Flow Estimate:
$532 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$469/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,301
$234,076
2025
$17,500
$216,576
$234,076
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,301
$234,076

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Alliance Cu
Conventional
$153,750
No
First
Dec 30, 2020
Jan 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$137,702
$128,298
48%
52%
$922/mo

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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605 N Elkhart Ave | Property Details | No Agent List