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$222,000

9724 Memphis Ave, Lubbock, TX, 79423

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,613 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$83.69 / sqft
Year BuiltBuilt in 1989

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling

Exterior

Lot Size6,720 sqft

Building Information

Year Built1989
Roof Type114
Garage Spaces2

Land Information

APNR30789
Lot Number4090
SubdivisionKings Gate
Land UseResidential
Legal DescriptionKINGS GATE L 409 & 410
Census Tract010504
Assessed Land Value$30,000
Assessed Improvement Value$158,747
Assessment Year2025

About this property

Very nice 2/2/2 with an office. This home has 1613 square feet of living space. Large living area with new carpet and nice fireplace. The living room has a vaulted ceiling. The kitchen comes with stain cabinets. Dining room is big for a large table. New carpets in the bedroom and office. Master bath has a separate shower and marble tub. 8 x 12 storage shed in back will stay.

Investor Tools

Property Icon
$222,000
Estimated Property Value
$110,000Estimated Mortgage Balance
$129,246Estimated Equity
50% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,332 /month
Positive
Cash Flow Estimate:
$444 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$324/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,779
$188,747
2025
$30,000
$158,747
$188,747
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,779
$188,747

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
City Bank
Unknown
$110,000
No
First
Aug 16, 2018
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$92,754
$129,246
58%
42%
$660/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,110/mo
$660/mo
+$450/mo
6.0%

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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9724 Memphis Ave | Property Details | No Agent List