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$255,000

NAL Estimated Property Value

7009 Memphis Ave, Lubbock, TX, 79413

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,970 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$90.36 / sqft
Year BuiltBuilt in 1968

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesCooktop, Disposal, Dishwasher
FlooringHardwood

Exterior

Lot Size7,910 sqft

Building Information

Year Built1968
Garage Spaces2

Land Information

APNR37774
Lot Number5650
SubdivisionMelonie Park
Land UseResidential
Legal DescriptionMELONIE PARK L 565
Census Tract001908
Assessed Land Value$24,500
Assessed Improvement Value$199,287
Assessment Year2025

About this property

This wonderful, newly remodeled home comes with 3 bedrooms, 2 bathrooms, 2 car garage, and an incredible kitchen and open-layout living area! The brand new kitchen has everything you can imagine and all the bedrooms have ideal size. The sellers are currently working on replacing bedroom 2 and 3's carpet with hardwood floor. The wonderful office is connected to the master bedroom so it would make a great office or nursery for the little ones! Backyard is spacious enough for all your family entertaining needs. The bathrooms are also remodeled and beautiful! Great pecan tree in the front yard! Playhouse in backyard and the washer and dryer are all negotiable.

Investor Tools

Property Icon
$255,000
Estimated Property Value
$135,173Estimated Mortgage Balance
$119,827Estimated Equity
46% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,530 /month
Positive
Cash Flow Estimate:
$510 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$375/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,221
$223,787
2025
$24,500
$199,287
$223,787
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,221
$223,787

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
N/A
Conventional
$166,250
No
First
May 22, 2017
Jun 2047

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$135,173
$119,827
46%
53%
$997/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,670/mo
$997/mo
+$673/mo
7.9%

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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7009 Memphis Ave | Property Details | No Agent List