4204 40th St Lubbock, TX 79413
Maedgen Area (MANA) NeighborhoodEstimated payment $1,832/month
Total Views
385
5
Beds
3
Baths
4,248
Sq Ft
$60
Price per Sq Ft
Highlights
- Traditional Architecture
- 2 Fireplaces
- Central Heating and Cooling System
- Hutchinson Middle School Rated A-
- Fenced Yard
About This Home
**4,200+ SF Income Property — Priced $61K Below Tax Value**
Turn-key cash flow with an established, long-term business tenant (sober living facility) already in place and renting at the true 1% rule. Tenants have expressed a desire to remain and continue renewing, offering dependable, contracted income from Day 1. Three thoughtful additions expand the original footprint to over 4,200 sq ft, creating flexible spaces ideal for a home-based business or versatile live-work layout (buyer to verify permitted uses). Inside and out, you'll find ample storage, plus multiple over-sized rooms that function as offices, meeting areas, or secondary living spaces. The brick exterior and practical design support low-maintenance ownership, while the significant discount—$61,000 under tax value—adds built-in equity and room for future improvements.
Showings by appointment with appropriate notice to respect the occupants. If you're an investor seeking steady returns with a unique, high-square-footage asset, this one checks the boxes.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,350
Year Built
- Built in 1953
Lot Details
- 0.37 Acre Lot
- Fenced Yard
Parking
- Driveway
Home Design
- Traditional Architecture
- Brick Exterior Construction
- Slab Foundation
- Composition Roof
Interior Spaces
- 4,248 Sq Ft Home
- 2 Fireplaces
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Full Bathrooms
Utilities
- Central Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number R118321
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $5,350 | $294,595 | $35,000 | $259,595 |
| 2023 | $6,062 | $326,133 | $24,975 | $301,158 |
| 2022 | $6,383 | $315,312 | $24,975 | $290,337 |
| 2021 | $5,276 | $246,344 | $24,975 | $221,369 |
| 2020 | $5,357 | $246,344 | $24,975 | $221,369 |
| 2019 | $4,966 | $221,225 | $24,975 | $196,250 |
| 2018 | $4,395 | $195,531 | $24,975 | $170,556 |
| 2017 | $4,077 | $181,131 | $24,975 | $156,156 |
| 2016 | $3,873 | $172,055 | $24,975 | $147,080 |
| 2015 | $3,203 | $160,996 | $24,975 | $136,021 |
| 2014 | $3,203 | $144,061 | $10,800 | $133,261 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/25/2025 08/25/25 | For Sale | $255,000 | -- | $60 / Sq Ft |
Source: Lubbock Association of REALTORS®
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed In Lieu Of Foreclosure | -- | -- | |
| Vendors Lien | -- | None Available | |
| Vendors Lien | -- | Service Title | |
| Deed | -- | -- | |
| Deed | -- | Stewart Title Company | |
| Vendors Lien | -- | Service Title Company | |
| Trustee Deed | $103,750 | None Available | |
| Warranty Deed | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $168,725 | Commercial | |
| Previous Owner | $127,800 | New Conventional | |
| Previous Owner | $127,800 | New Conventional | |
| Previous Owner | $63,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $123,083 | FHA | |
| Previous Owner | $100,000 | Purchase Money Mortgage |
Source: Public Records
Similar Homes in Lubbock, TX
Source: Lubbock Association of REALTORS®
MLS Number: 202559560
APN: R118321
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