2414 38th StLubbockTX79412
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 2414 38th St, Lubbock, TX, 79412 in Lubbock worth modelling. At $143,577 with a 8.77% gross yield, the $1,242/mo rent leaves $34/mo after the $646/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.92 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $39,668 by year five; $1,322/yr in principal reduction adds further equity. Total projected return: $68,135.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 6.8% |
| Monthly Cash Flow | $34 | $450 |
City averages based on Lubbock market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,242 |
| Total Monthly Debt Service | $983 |
| DSCR Ratio | 1.26x |
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.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79412, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,222 (100%) |
| Owner Occupied HU | 2,625 (42.2%) |
| Renter Occupied HU | 2,944 (47.3%) |
| Vacant Housing Units | 653 (10.5%) |
| Median Home Value | $113,395 |
| Average Home Value | $152,337 |
Housing Distribution
Address Breakdown
Residential
5,853
Single Family
5,388
Multi-Family
465
Businesses
326
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
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79412, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,222 (100%) |
| Owner Occupied HU | 2,625 (42.2%) |
| Renter Occupied HU | 2,944 (47.3%) |
| Vacant Housing Units | 653 (10.5%) |
| Median Home Value | $113,395 |
| Average Home Value | $152,337 |
Housing Distribution
Address Breakdown
Residential
5,853
Single Family
5,388
Multi-Family
465
Businesses
326
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices