3506 N Elm AveLubbockTX79403
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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
Investment Highlights
Investment property for sale in Lubbock at 3506 N Elm Ave, Lubbock, TX, 79403 uses $39,780 cash to close to unlock $792/yr annual cash flow and $66/mo monthly cash flow. Total monthly income runs $919/mo, and a $587/mo payment keeps the spread at $66/mo. Purchase price stands at $120,000, and rental yield measures 9.19% with $919/mo rent. Return on cash invested shows 21.9% in year one, and 5% annual appreciation builds toward $33,154 over five years. Five-year ROI reaches 114.71% and total cumulative return in cash records $45,631. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $919/mo property income covering a $587/mo payment rather than investor’s personal income.
Single Family
Built in 1952
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79403, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,498 (100%) |
| Owner Occupied HU | 4,117 (54.9%) |
| Renter Occupied HU | 2,411 (32.2%) |
| Vacant Housing Units | 970 (12.9%) |
| Median Home Value | $84,502 |
| Average Home Value | $161,874 |
Housing Distribution
Address Breakdown
Residential
6,443
Single Family
5,977
Multi-Family
466
Businesses
426
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