701 E Purdue StLubbockTX79403
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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 701 E Purdue St, Lubbock, TX, 79403 offers $1,172/mo rent that, after a $566/mo payment, leaves $337/mo cash flow. Total monthly income is $1,172/mo, and annual cash flow is $4,042/yr on $38,354 cash. Return on cash invested measures 30.45% in year one, and rental yield stands at 12.16% at a $115,699 entry. Equity gained on principal adds $747/yr while 5% annual appreciation compounds into $31,966 by year five. Five-year ROI records 160.69% and total cumulative return in cash reaches $61,633. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,172/mo property income versus a $566/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
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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Listed by: Chet Polniazek • 1st Texas Realty Services
Mls Name: HAR
Mls Provider:
Mls ID: #94765637
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