115 Troy AveLubbockTX79416
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 115 Troy Ave, Lubbock, TX, 79416 in Lubbock worth modelling. At $119,000 with a 9.8% gross yield, the $972/mo rent leaves $101/mo after the $535/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.82 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $32,878 by year five; $1,096/yr in principal reduction adds further equity. Total projected return: $52,241.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 6.8% |
| Monthly Cash Flow | $101 | $450 |
City averages based on Lubbock market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $972 |
| Total Monthly Debt Service | $824 |
| DSCR Ratio | 1.18x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1983
2,613 sqft lot
$N/A/sqft
$300 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79416, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,723 (100%) |
| Owner Occupied HU | 7,315 (43.7%) |
| Renter Occupied HU | 7,918 (47.3%) |
| Vacant Housing Units | 1,490 ( 8.9%) |
| Median Home Value | $228,755 |
| Average Home Value | $270,415 |
Housing Distribution
Address Breakdown
Residential
15,375
Single Family
13,053
Multi-Family
2,322
Businesses
396
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 1983
2,613 sqft lot
$N/A/sqft
$300 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79416, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,723 (100%) |
| Owner Occupied HU | 7,315 (43.7%) |
| Renter Occupied HU | 7,918 (47.3%) |
| Vacant Housing Units | 1,490 ( 8.9%) |
| Median Home Value | $228,755 |
| Average Home Value | $270,415 |
Housing Distribution
Address Breakdown
Residential
15,375
Single Family
13,053
Multi-Family
2,322
Businesses
396
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tracy Thomason • Exit Realty of Lubbock
Mls Name: LBMLS
Mls Provider:
Mls ID: #202501279
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.