Home For Sale In Lubbock, Texas

house for sale

Listed: 05/13/24

2306 Fir Ave, Lubbock, Texas, 79404

10 Bed:

9 Bath:

5,109 Sq Ft Living Area:

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Price

$ 782,215

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About This House

For sale 2306 Fir Avenue, Lubbock, TX 79404 - 14-unit apartment complex We are thrilled to present a new investment opportunity in Lubbock's Wheelock neighborhood. This remodeled 14-unit apartment is an upgraded property featuring new plumbing, HVACs, electrical wiring, kitchenettes, appliances, bathrooms, new roof, etc. Each unit features new laminate flooring, fresh paint, new kitchenettes, new light fixtures, and more that tenants love! Low long-term maintenance, as the Seller has upgraded just about everything. Property has a gated entryway (locked), security cameras, and an on-site laundry facility. As of today, 9 of the 14 units are occupied and cash-flowing, offering a Buyer to go in and lease up the vacant units. Asking Price: $782, 215 ($55, 872/unit) Current NOI (est.): $41, 681; Pro-FormaNOI: $66, 488 (achievable by just renting the 5 units) Actual CAP Rate: 5.33%; Pro-Forma CAP Rate: 8.5%

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Houses for sale in Lubbock

Original listing

Lubbock Housing & Living

Average sale prices for houses

2 bed

3 bed

4+ bed

Show as List Show as Graph

Month	Median Price
Jun 2024	$162,315 (+19.6%)
May 2024	$135,678 (-9%)
Apr 2024	$149,138 (0%)
Mar 2024	$149,138 (0%)
Feb 2024	$149,138 (0%)
Jan 2024	$149,138 (+7.2%)

In June 2024, the asking price for 2 bed houses for sale in/near Lubbock, United States averaged $162,315, an increase of 19.6% from the previous month.

Median price trends for properties for sale in Lubbock, United States as of June 2024.

Household Income

Median household income: $47,326

Number of households: 92,517

The average household income in Lubbock, TX grew from $45,499 to $47,326 in the past year. This data is an estimate based upon 92,517 households in Lubbock, TX.
The chart below presents how household income is distributed in Lubbock, TX in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+

One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Lubbock, TX compared to median property taxes around the country. The prevalent amount of property taxes in Lubbock, TX equals $3k+ , which is less than the national average.