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$169,000

NAL Estimated Property Value

8601 Memphis Drive C55, Lubbock, TX, 79423

Off MarketInfo
Beds1 Beds
Baths2 Bath
Baths992 Sq Ft
price_per_sqft$131.05 / sqft
Year BuiltBuilt in 1983

Property Lead Type:

Off-Market ListDeal ListAbsentee OwnerHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 1Bedrooms 1
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Heating CentralHeating Central
CoolingCooling

Exterior

Private PoolPrivate Pool
Lot Size2,083 sqft

Building Information

Year Built1983
Roof Type105

Land Information

APNR41001
Lot Number340
SubdivisionRaintree
Land UseResidential
Legal DescriptionRAINTREE TR D1 UNIT 34 BLD E OF RAINTREE MANOR
Census Tract010504
Assessed Land Value$5,728
Assessed Improvement Value$94,564
Assessment Year2025

About this property

Attention investors and Texas Tech parents!! This is your chance to own a fully furnished & updated condo in the wonderful Raintree Manor Condominium Complex! Enjoy the stellar location in South Lubbock just one block away from The Premier Sportsplex Gym and two blocks away from the Charles A Guy park. There is an HOA fee of $130/month that covers water, trash, sewer and provides access to a swimming pool + one covered parking space! This unit was previously leased for 16 months @ $1,375/month. (Lease ended August 31st, 2024.) Whether you have been searching for a turn-key short/mid/long term rental or you are an individual looking for a move-in ready property, this property truly checks all the boxes! Schedule a showing to see everything this property has to offer.

Investor Tools

Property Icon
$169,000
Estimated Property Value
$0Estimated Mortgage Balance
$169,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,014 /month
Positive
Cash Flow Estimate:
$338 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$247/month
$1,560/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,119
$100,292
2025
$5,728
$94,564
$100,292
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,119
$100,292

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$169,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,110/mo
$1,560/mo
$-450/mo
7.9%

City: Lubbock

8601 Memphis Drive C55 | Property Details | No Agent List