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$132,500

8601 Memphis Drive C60, Lubbock, TX, 79423

On MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,071 Sq Ft
price_per_sqft$123.72 / 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, Free-Standing Range

Exterior

Private PoolPrivate Pool
Exterior FeaturesCourtyard, Fire Pit, Storage, Other
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

Looking for the perfect investment property or a cozy new home? This turnkey Airbnb or owner occupant condo is ready to go! Cheap home owners insurance makes it very affordable. This condo balcony overlooks the pool area. For $130/month HOA fee covers water, trash, sewer, and grants access to the community pool and covered parking space. Profitable short-term rental, Fully furnished option available, Prime location near top attractions, Low maintenance & move-in ready. Don't miss this chance to own a cash-flowing property! Has a very spacious secluded master suite. The Airbnb has been very successful. Several units are owner occupant as well.

Investor Tools

$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

Interested in this property?

Andi Dunlap

Black Pearl Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$118/month
No HOA
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
N/A
+$1,110/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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