507 N Grover AveLubbockTX79416
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
Investment Highlights
Investment property for sale in Lubbock at 507 N Grover Ave, Lubbock, TX, 79416 with 5% annual appreciation on a $227,500 basis while $1,859/mo rent supports operations. Total monthly income totals $1,859/mo and a $1,114/mo payment preserves $242/mo for cash returns. Annual cash flow comes to $2,901/yr on $75,416 deployed, and return on cash invested reaches 23.75% in year one. Equity gained on principal adds $1,468/yr, and five-year appreciation sums $62,854 alongside rental yield of 9.81%. Five-year ROI measures 124.67% and total cumulative return in cash totals $94,022.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,859/mo property income versus a $1,114/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1982
9,147 sqft lot
$N/A/sqft
No 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: Jarrod Frankum • Our Texas Real Estate Group
Mls Name: LBMLS
Mls Provider:
Mls ID: #202553516
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.