8601 Memphis Dr Unit C55, Lubbock, TX, 79423

Location

Get An Agent. Get A Mortgage.

Let Us Help You Buy A Home And Save BIG

Save BIG.

8601 Memphis Dr Unit C55, Lubbock$130,000

Buyer Closing Credits

$1,544^*

1.25% Loan Amount

Sell Your Home And Save More

Connect With An Agent

Still Have Questions? Contact Us.

1 (855) 200-2001

Property Highlights

Home TypeCondominium

ParkingOff Street

Year Built1983

HeatingElectric, Central

CoolingCeiling Fan(s), Central Air

FireplaceLiving Room

Private PoolYes

MLS #202415086

Lot Size0.04 Acres

StatusActive

About 8601 Memphis Dr Unit C55

Attention investors and Texas Tech parents!! This is your chance to own a fully furnished & updated condo in the wonderful Raintree Manor Condominium Complex! Enjoy the stellar location in South Lubbock just one block away from The Premier Sportsplex Gym and two blocks away from the Charles A Guy park. There is an HOA fee of $130/month that covers water, trash, sewer and provides access to a swimming pool + one covered parking space! This unit was previously leased for 16 months @ $1,375/month. (Lease ended August 31st, 2024.) Whether you have been searching for a turn-key short/mid/long term rental or you are an individual looking for a move-in ready property, this property truly checks all the boxes! Schedule a showing to see everything this property has to offer.

View More

Property Details

Property Features

Property Information:

• Year Built: 1983
• Living Area: 992 SqFt

Listing Office:

• Office Name: Progressive Properties
• Office Phone: (704) 843-1107
• Listing Agent: Sol K Carver

Interior Features

Interior Information:

• Fireplace: Living Room

Bedroom and Bathroom Information:

• Partial Bathrooms: 1
• Full Bathrooms: 1
• Total Bedroom Count: 1

Exterior Features

Exterior Information:

• Private Pool: Yes
• Exterior: Fence, Patio

Parking Information:

• Parking: Off Street

Lot Features

Lot Information:

• Lot Size: 0.04 Acres

Utilities

Utilities Information:

• Heating: Electric, Central
• Cooling: Ceiling Fan(s), Central Air

Other

Directions Information:

• Directions: GPS will take you there

Price Information

Listing Price Info

Price Summary:

• List Price: $130,000
• Price Per SqFt: $131/SqFt

What can I afford?

Understand what home price range makes sense for your budget.

See What I Can Afford

Housing Market Comparison

See how this home compares to others in Lubbock, TX.

Lubbock, TX

City

Med. Sold Price

$285K

Med. Price/SqFt

$135

Avg. Days On Market

56

# of Sold Homes

244

8601 Memphis Dr Unit C55 vs Lubbock

40 DAYS ON ROCKET

-16 Days

$130,000

-$155K Less

$131/SqFt

-$5 Less

KEY TAKEAWAY

This property is $155K less than the Median Sold Price and $5/SqFt less than other homes in Lubbock, TX.

Based on homes sold in November 2024

MLS Details

MLS Information:

• MLS Name: Lubbock
• MLS Number: #202415086

Listing Office:

• Office Name: Progressive Properties
• Office Phone: (704) 843-1107
• Listing Agent: Sol K Carver

Copyright © 2024 Lubbock Association of REALTORS®. All rights reserved.

IDX information is provided exclusively for consumers’ personal, noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.


Texas Real Estate Commission Consumer Protection Notice

Texas Real Estate Commission Information About Brokerage Service

Last updated on: 12/22/2024, 1:16:07 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

View More

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.

$716

Per Month

Principal & Interest

$649

Home Price

Home PriceThe dollar amount you pay for the home.

$

Interest Rate

Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.

%

Down Payment

Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.

$Down PaymentPercent%

Loan Term

Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.

30 year25 year20 year15 year10 year

Property Taxes

$0

Annual Cost

Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.

$/ Year

Mortgage Insurance

$0

Monthly Premium

Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.

$/ Month

Homeowners Insurance

$67

Monthly Premium

Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.

$/ Month

Homeowners Association (HOA)

$0

Monthly Fees

Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.

$/ Month

Utilities

$0

Monthly Cost

Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.

$/ Month

*Disclosures

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$456

See More Options

Connect With A Banker

Powered By

Advertisement

NMLS#3030

**Disclosures

Rocket Homes›Texas›Lubbock County›Lubbock›79423›8601 Memphis Dr Unit C55

This home is located at 8601 Memphis Dr Unit C55 in Lubbock, TX and zip code 79423 in the Raintree neighborhood. This 992 square foot home, which was built in 1983, sits on a 0.04 acre lot. Features: 1 bedroom, 2 bathrooms. It has been listed on Rocket Homes since November 11, 2024 and is currently priced at $130,000.

While more than 0 listings in Lubbock, TX in November 2024 were sold above asking price, there were more than 1 listings sold at asking price, and more than 0 were sold below. The number of homes for sale in Lubbock, TX increased by 4.3% between October 2024 and November 2024. Listings spent 56 days on the market in November 2024, and had a median list price of $285,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.