Whether you're looking to expand your rental portfolio or purchase your next income-producing property, this charming home offers excellent potential in an established Lubbock neighborhood. With a functional layout, spacious bedrooms, and a detached bonus building, the possibilities are endless for investors seeking strong rental appeal. Inside, you'll find a practical floor plan with generously sized living spaces, durable flooring in the main areas, and comfortable carpeted bedrooms. The kitchen offers abundant cabinet storage, ample counter space, and stainless steel appliances, while the adjacent laundry room adds everyday convenience. The primary bedroom is spacious and features its own private ensuite bath, providing added comfort for future tenants. Outside, the large backyard is a standout feature with an expansive wood deck perfect for outdoor entertaining, relaxing, or grilling. The detached outbuilding provides valuable flexibility and could serve as a workshop, storage space, hobby room, or additional workspace (buyer to verify permitted uses). Mature trees offer shade and privacy, while the oversized lot provides plenty of room to enjoy. Conveniently located near Texas Tech University, the Medical District, shopping, dining, parks, and major thoroughfares, this property is well-positioned for long-term rental demand or future value-add improvements. Whether you're looking for a property to hold as a rental, renovate for increased equity, or add to your investment portfolio, this is an opportunity you won't want to miss. Schedule your private showing today!
For sale
Price cut: $5K (9/14)
$145,000
2507 40th St, Lubbock, TX 79413
3beds
1,446sqft
Single Family Residence, Residential
Built in 1950
7,405 Square Feet Lot
$138,100 Zestimate®
$100/sqft
$-- HOA
What's special
Detached bonus buildingLarge backyardStainless steel appliancesSpacious bedroomsPractical floor planGenerously sized living spacesComfortable carpeted bedrooms
- 84 days
- 262
- 16
Zillow last checked:
Listing updated:
Listed by:
Brandon Tyler TREC #0542831 806-239-0962,
Progressive Properties
Source: LBMLS,MLS#: 202609329
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Central, Natural Gas
Cooling
- Central Air, Electric
Appliances
- Included: Gas Cooktop, Gas Oven
- Laundry: In Kitchen, Inside
Features
- Ceiling Fan(s), Formica Counters
- Has basement: No
- Has fireplace: No
Interior area
- Total structure area: 1,446
- Total interior livable area: 1,446 sqft
- Finished area above ground: 1,446
Property
Parking
- Parking features: On Street, Other
- Has uncovered spaces: Yes
Features
- Exterior features: Storage
Lot
- Size: 7,405 Square Feet
Details
- Additional structures: Shed(s), Storage
- Parcel number: R78737
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence, Residential
Materials
- Vinyl Siding
- Foundation: Slab
- Roof: Composition
Condition
- New construction: No
- Year built: 1950
Community & HOA
Community
- Security: None
Location
- Region: Lubbock
Financial & listing details
- Price per square foot: $100/sqft
- Tax assessed value: $136,356
- Annual tax amount: $2,012
- Date on market: 7/8/2026
- Cumulative days on market: 84 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Road surface type: Paved
Estimated market value
$138,100
$131,000 - $145,000
$1,398/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/14/2026 | Price change | $145,000-3.3%$100/sqft |
Source: | ||
| 7/8/2026 | Listed for sale | $150,000+3.4%$104/sqft |
Source: | ||
| 8/4/2025 | Listing removed | $145,000$100/sqft |
Source: | ||
| 6/12/2025 | Price change | $145,000-3.3%$100/sqft |
Source: | ||
| 5/5/2025 | Listed for sale | $150,000+25%$104/sqft |
Source: | ||
| 2/12/2022 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 1/12/2022 | Price change | $500-33.3% |
Source: Zillow Rental Manager Report a problem | ||
| 12/22/2021 | Price change | $750-62.5%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 12/19/2021 | Listed for rent | $2,000+100%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 5/17/2021 | Sold | -- |
Source: Agent Provided Report a problem | ||
| 4/26/2019 | Listing removed | $1,000$1/sqft |
Source: Progressive Properties #201902042 Report a problem | ||
| 3/5/2019 | Listed for rent | $1,000-20%$1/sqft |
Source: Progressive Properties Report a problem | ||
| 11/6/2018 | Listing removed | $1,250$1/sqft |
Source: Progressive Properties #201806102 Report a problem | ||
| 9/18/2018 | Price change | $1,250-3.8%$1/sqft |
Source: Progressive Properties #201806102 Report a problem | ||
| 8/24/2018 | Price change | $1,300-7.1%$1/sqft |
Source: Progressive Properties #201806102 Report a problem | ||
| 7/11/2018 | Listed for rent | $1,400$1/sqft |
Source: Progressive Properties #201806102 Report a problem | ||
| 9/28/2017 | Sold | -- |
Source: Agent Provided Report a problem | ||
| 8/25/2017 | Listed for sale | $120,000$83/sqft |
Source: Progressive Properties #201706618 Report a problem | ||
| 6/1/2017 | Listing removed | $1,400$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 5/17/2017 | Price change | $1,400-6.7%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 3/6/2017 | Listed for rent | $1,500$1/sqft |
Source: Owner Report a problem | ||
| 10/26/2007 | Sold | -- |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,012 -21.3% | $136,356 -3.1% |
| 2024 | $2,556 -2.7% | $140,770 -0.4% |
| 2023 | $2,627 +11.1% | $141,315 +21% |
| 2022 | $2,365 +20.5% | $116,816 +26.6% |
| 2021 | $1,963 -1% | $92,271 -0.3% |
| 2020 | $1,982 +1.6% | $92,564 +3.1% |
| 2019 | $1,952 +25.7% | $89,750 +4% |
| 2018 | $1,552 | $86,333 +4.3% |
| 2017 | $1,552 +9.8% | $82,800 +10% |
| 2016 | $1,414 | $75,254 +5% |
| 2015 | $1,414 | $71,681 -0.3% |
| 2014 | $1,414 | $71,909 -0.3% |
| 2013 | -- | $72,137 -0.3% |
| 2012 | -- | $72,365 |
| 2011 | -- | $72,365 -0.3% |
| 2010 | -- | $72,593 +15.4% |
| 2009 | -- | $62,895 +5.2% |
| 2008 | -- | $59,797 -3.9% |
| 2007 | -- | $62,201 +49% |
| 2006 | -- | $41,748 -2.8% |
| 2005 | -- | $42,940 +4% |
| 2004 | -- | $41,270 +24.8% |
| 2003 | -- | $33,056 +2% |
| 2002 | $803 +20.7% | $32,397 +20.5% |
| 2001 | $666 +0.7% | $26,887 |
| 2000 | $661 | $26,887 |
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
Schools provided by the listing agent
- Elementary: Wheelock
- Middle: Mackenzie
- High: Monterey
Source: LBMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.





