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$256,000

NAL Estimated Property Value

6408 Memphis Ave, Lubbock, TX, 79413

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,156 Sq Ft
price_per_sqft$85.78 / sqft
Year BuiltBuilt in 1967

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

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

Exterior

Lot Size8,000 sqft

Building Information

Year Built1967
Roof Type105
Garage Spaces2

Land Information

APNR28407
Lot Number7680
SubdivisionBroadmoor
Land UseResidential
Legal DescriptionBROADMOOR L 768 LESS 6'X 83.3' TRI
Census Tract001908
Assessed Land Value$52,000
Assessed Improvement Value$189,907
Assessment Year2025

About this property

Deluxe location for a custom built one owner home in Melonie Park. This home features 3 bedrooms, 2 baths, galley kitchen, 2 dining spaces, 2 living areas. Each closet is a walk-in closet with built in shelving. The Master suite is isolated. The additional two bedrooms share a jack-n-jill bath. Enjoy your evenings on a delightful front porch. This home has been immaculately maintained and is awaiting a new buyer. The landscaped front and back yards have mature trees providing shade to the property. Recent updates include new windows and siding and the roof is to be replaced soon.

Investor Tools

Property Icon
$256,000
Estimated Property Value
$74,657Estimated Mortgage Balance
$181,343Estimated Equity
70% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,536 /month
Positive
Cash Flow Estimate:
$512 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$303/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,359
$241,907
2025
$52,000
$189,907
$241,907
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,359
$241,907

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Usaa Fsb
Va
$81,600
Yes
First
Nov 16, 2021
Dec 2036

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$74,657
$181,343
70%
29%
$490/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,670/mo
$490/mo
+$1,180/mo
7.8%

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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6408 Memphis Ave | Property Details | No Agent List