Immediate cash flow opportunity now on market. 2 unit residential income property with tenants in place through summer 2026. Main unit is a 2 bedroom 1 bathroom home, and efficiency unit is a 1 bedroom, 1 bathroom. Total rent is $1,600 according to current lease agreements.
For sale
$137,000
2506 40th St, Lubbock, TX 79413
3beds
1,041sqft
Multi Family
Built in 1950
-- sqft lot
$129,700 Zestimate®
$132/sqft
$-- HOA
What's special
- 38 days |
- 119 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Mike Hagler TREC #0827224 806-329-8806,
Brick & Loft Realty
Source: LBMLS,MLS#: 202609491
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Other
Cooling
- Ceiling Fan(s), Other
Features
- Flooring: Vinyl
Interior area
- Total structure area: 1,041
- Total interior livable area: 1,041 sqft
- Finished area above ground: 1,041
Property
Parking
- Parking features: Driveway, On Street
- Has uncovered spaces: Yes
Lot
- Size: 7,840 Square Feet
Details
- Parcel number: R125837
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Roof: Composition
Condition
- New construction: No
- Year built: 1950
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Sewer Connected
Community & HOA
Community
- Security: None
Location
- Region: Lubbock
Financial & listing details
- Price per square foot: $132/sqft
- Tax assessed value: $91,807
- Annual tax amount: $510
- Date on market: 7/11/2026
- Listing terms: Cash,Conventional
- Tenant pays: Gas, Internet, Water
- Electric utility on property: Yes
- Road surface type: All Weather
Estimated market value
$129,700
$123,000 - $136,000
$999/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/11/2026 | Listed for sale | $137,000$132/sqft |
Source:  LBMLS #202609491 Report a problem | ||
| 10/17/2025 | Sold | -- |
Source: LBMLS #202559596 Report a problem | ||
| 10/3/2025 | Pending sale | $137,000$132/sqft |
Source: LBMLS #202559596 Report a problem | ||
| 9/23/2025 | Price change | $137,000-2.1%$132/sqft |
Source: LBMLS #202559596 Report a problem | ||
| 8/26/2025 | Listed for sale | $140,000$134/sqft |
Source: LBMLS #202559596 Report a problem | ||
| 7/22/2025 | Listing removed | $1,000$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/14/2025 | Listed for rent | $1,000+5.3%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/8/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/27/2024 | Listed for rent | $950$1/sqft |
Source: Zillow Rentals Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,624 +218.4% | $91,807 +18.1% |
| 2024 | $510 +0.9% | $77,726 +10% |
| 2023 | $505 -7.3% | $70,660 +10% |
| 2022 | $545 -12.6% | $64,236 +10% |
| 2021 | $623 -50.2% | $58,396 |
| 2020 | $1,251 +1.1% | $58,396 +2.6% |
| 2019 | $1,237 +2.8% | $56,909 +4.1% |
| 2018 | $1,204 | $54,680 +2.1% |
| 2017 | $1,204 +22.3% | $53,565 +14.9% |
| 2016 | $984 | $46,634 +5.4% |
| 2015 | $984 | $44,261 |
| 2014 | $984 | $44,261 |
| 2013 | -- | $44,261 |
| 2012 | -- | $44,261 |
| 2011 | -- | $44,261 |
| 2010 | -- | $44,261 |
| 2009 | -- | $44,261 +5.6% |
| 2008 | -- | $41,905 -8.1% |
| 2007 | -- | $45,614 +10% |
| 2006 | -- | $41,467 +5.9% |
| 2005 | -- | $39,156 +10% |
| 2004 | -- | $35,596 +7.4% |
| 2003 | -- | $33,158 +3.2% |
| 2002 | $489 +16% | $32,144 +20.2% |
| 2001 | $421 +0.5% | $26,744 |
| 2000 | $419 | $26,744 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Wheelock & Monterey
Nearby schools
GreatSchools rating
- 4/10Wheelock Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 3/10Atkins Middle SchoolGrades: 6-8Distance: 1.1 mi
- 5/10Monterey High SchoolGrades: 9-12Distance: 1 mi
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