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$167,000

8601 Memphis Drive A21, Lubbock, TX, 79423

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,009 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$148.66 / sqft
Year BuiltBuilt in 1983

Property Lead Type:

High EquityCash BuyersMove-In Ready

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Electric Oven, Microwave, Refrigerator, Washer/Dryer, Electric Water Heater

Exterior

Exterior FeaturesNone
Lot Size2,041 sqft

Building Information

Year Built1983
Roof Type105

Land Information

APNR41337
Lot Number470
SubdivisionRaintree
Land UseResidential
Legal DescriptionRAINTREE TR D1 UNIT 47 BLD H OF RAINTREE MANOR
Census Tract010504
Assessed Land Value$5,613
Assessed Improvement Value$92,393
Assessment Year2025

About this property

Being sold fully furnished and already Leased, Priced to Sell! Welcome to Unit A21 at Raintree Manor Condominiums a move-in ready, fully furnished condo currently leased at $1,650/month through December 28, 2025 with another lease lined up right after! This updated unit is an excellent opportunity for those seeking cash flow, midterm rental potential, or a low-maintenance home. Situated just one block from The Premier Sportsplex Gym and two blocks from Charles A. Guy Park, this location offers both convenience and lifestyle appeal. The $130/month HOA covers water, trash, sewer, a covered parking space, and access to the community pool making ownership easy and enjoyable. This turn-key property is ideal for investors, traveling professionals, students, or anybody looking for low maintenance living! Opportunities like this don't last â€" schedule your showing today!

Investor Tools

Property Icon
$167,000
Estimated Property Value
$0Estimated Mortgage Balance
$167,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,002 /month
Positive
Cash Flow Estimate:
$334 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$118/month
$130/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$577
$98,006
2025
$5,613
$92,393
$98,006
Yes (2021)

Tax History

Year
Tax Paid
Assessed Value
2024
$577
$98,006

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$167,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,110/mo
$130/mo
+$980/mo
8.0%

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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