3641 Ridgely AveLubbockTX79407
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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
Rental property for sale in Lubbock at 3641 Ridgely Ave, Lubbock, TX, 79407 priced at $339,000 converts $2,904/mo rent into $469/mo cash flow after a $1,659/mo obligation. Total monthly income equals $2,904/mo, and annual cash flow totals $5,631/yr on $112,379 invested. Return on cash invested prints 24.92% in year one, and rental yield reads 10.28% against a $339,000 entry. Equity gained on principal adds $2,188/yr, while 5% annual appreciation compiles into $93,659 by year five. Five-year ROI reaches 131.05% and total cumulative return in cash sums $147,268. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,904/mo property income covering a $1,659/mo payment, not borrower’s personal income.
Single Family
Built in 2015
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79407, Lubbock, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,476 (100%) |
| Owner Occupied HU | 5,713 (42.4%) |
| Renter Occupied HU | 6,302 (46.8%) |
| Vacant Housing Units | 1,461 (10.8%) |
| Median Home Value | $221,609 |
| Average Home Value | $266,239 |
Housing Distribution
Address Breakdown
Residential
13,949
Single Family
9,684
Multi-Family
4,265
Businesses
637
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Listed by: Jenifer Hudman • Keller Williams Realty
Mls Name: LBMLS
Mls Provider:
Mls ID: #202555101
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.