3308 2nd StLubbockTX79415
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 3308 2nd St, Lubbock, TX, 79415 in Lubbock worth study. Rental yield 1.07%. The 1.07% gross yield is below cash-flow benchmarks at $1,400,000, but 5% annual appreciation, adding $386,794 over five years, frames this as a capital growth position. Rent of $1,247/mo partially offsets the $6,295/mo payment. Ziffy Mortgage finances appreciation-play properties (0.20 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 1.1% | 6.8% |
| Monthly Cash Flow | $(8,709) | $450 |
City averages based on Lubbock market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,247 |
| Total Monthly Debt Service | $9,399 |
| DSCR Ratio | 0.13x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Multi Family
Built in 1947
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79415, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,356 (100%) |
| Owner Occupied HU | 2,928 (35.0%) |
| Renter Occupied HU | 4,417 (52.9%) |
| Vacant Housing Units | 1,011 (12.1%) |
| Median Home Value | $103,977 |
| Average Home Value | $252,752 |
Housing Distribution
Address Breakdown
Residential
6,145
Single Family
4,314
Multi-Family
1,831
Businesses
424
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
Multi Family
Built in 1947
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79415, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,356 (100%) |
| Owner Occupied HU | 2,928 (35.0%) |
| Renter Occupied HU | 4,417 (52.9%) |
| Vacant Housing Units | 1,011 (12.1%) |
| Median Home Value | $103,977 |
| Average Home Value | $252,752 |
Housing Distribution
Address Breakdown
Residential
6,145
Single Family
4,314
Multi-Family
1,831
Businesses
424
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Felicia Estrada • Keller Williams Realty
Mls Name: LBMLS
Mls Provider:
Mls ID: #202557064
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.