$460,000

Package Property 2 Lubbock, TX 79412

Ballenger Neighborhood

Estimated payment $2,870/month

Total Views 3,054
15 Beds
10 Baths
5,340 Sq Ft
$86 Price per Sq Ft

Highlights

  • 0.73 Acre Lot
  • Central Heating and Cooling System
  • Ceiling Fan
  • No HOA

About This Home

3 out of the 5 units are rented. Pro-forma cap rate at 100% occupancy is 8.25%.

Listing Agent

Collen Melton

Brick & Loft Realty License #0774198 Listed on: 09/12/2025

Co-Listing Agent

Travis Turner

Brick & Loft Realty License #0660475

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2006

Lot Details

  • 0.73 Acre Lot
  • Back Yard Fenced

Home Design

  • Composition Roof
  • Vinyl Siding

Interior Spaces

  • 5,340 Sq Ft Home
  • Ceiling Fan

Bedrooms and Bathrooms

  • 15 Bedrooms

Parking

  • 2 Parking Spaces
  • 2 Carport Spaces

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number R313644

Community Details

Overview

  • No Home Owners Association

Building Details

  • Gross Income $55,620
  • Net Operating Income $37,971

Property Details

Home Type

Multi-Family

Year Built

Built in 2006

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 2006
  • Reso Property Sub Type: Package Property
  • Road Frontage Type: City Street
  • Road Surface Type: All Weather
  • Co List Office Mls Id: 1194
  • Co List Office Phone: 806-999-0722
  • Above Grade Finished Sq Ft: 5340.0
  • Carport Y N: Yes
  • New Construction: No
  • Legal Description: Southport Blk 1 L 5A SOUTHPORT BLK 1 L 5B SOUTHPORT BLK 1 L 6A SOUTHPORT BLK 1 L 7A SOUTHPORT BLK 1 L 8A
  • Location Tax and Legal Parcel Number2: R313644
  • General Property Information Above Grade Finished Area: 5340.0
  • General Property Information Lot Size Acres: 0.7324
  • General Property Information Lot Size Square Feet2: 31904.0
  • General Property Information Carport Spaces2: 2.0
  • General Property Information Carport YN: Yes
  • Lease Term Options 12 Months: Yes
  • Location Tax and Legal:Tax Annual Amount: 8149.0
  • General Property Information Accessibility Features YN2: No
  • Cooling:Central Air: Yes
  • Roof:Composition: Yes
  • Income And Expenses Cap Rate: 8.25
  • Gross Scheduled Income: 33600.0
  • Fencing Back Yard: Yes
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Half Bathrooms: 5

Exterior Features

  • Roof: Composition
  • Fencing: Back Yard
  • Acres: 0.73
  • Construction Type: Vinyl Siding
  • Construction Materials:Vinyl Siding: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Carport
  • Total Parking Spaces: 2.0
  • Parking Features:Carport: Yes

Utilities

  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Central
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • HOA: No

Association/Amenities

  • General Property Information:Association YN: No

Lot Info

  • Lot Size Sq Ft: 31904.0
  • ResoLotSizeUnits: Acres
  • Parcel #: R313644

Rental Info

  • Tenant Pays: All Utilities

Tax Info

  • Tax Annual Amount: 8149.0

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/12/2025 09/12/25 For Sale $460,000 0.0% $86 / Sq Ft
08/31/2025 08/31/25 Off Market -- -- --
02/23/2025 02/23/25 For Sale $460,000 -- $86 / Sq Ft
Source: Lubbock Association of REALTORS®

Source: Lubbock Association of REALTORS®

MLS Number: 202550866

Lubbock Association of REALTORS®
Texas Lubbock County Lubbock 79412 Ballenger

Package Property 2, Lubbock, TX

For Sale

MultiFamily

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Collen Melton
Listing Agent
Collen Melton
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Brick & Loft Realty
(806) 591-3850