505 E Rice St, Lubbock, TX, 79403
About This Home
Located at 505 E Rice St, this 3-bedroom, 2-bathroom property offers a strong value-add investment opportunity in an established Lubbock neighborhood. Featuring 1,300 square feet of functional living space, central heat and air, and washer/dryer connections, this home provides a solid, low-maintenance foundation to renovate, lease out, and add steady cash flow to your portfolio. Currently leased until 10/31/2026 at $1,125/ month.
Getting Around
Car-Dependent
Minimal Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 2016
Materials
- Foundation: Slab
- Roof: Composition
- Construction materials: Vinyl Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subType: Single Family Residence,Residential
Interior
Appliances
- Appliances included: Cooktop,Oven
- Laundry features: In Kitchen
Bathroom
- Features: Combination Shower/Tub
Bedroom1
- Features: Carpet Flooring
- Area: 100.4058
- Dimensions: 9.22 x 10.89
Bedroom2
- Features: Carpet Flooring
- Area: 92.1536
- Dimensions: 8.47 x 10.88
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Features
- Ceiling Fan(s),Formica Counters,Pantry
- Flooring: Carpet,Plank,Vinyl
- Finished area above ground: 1,103
Heating & Cooling
- Heating features: Central,Natural Gas
- Cooling features: Ceiling Fan(s),Central Air,Electric
Interior Area
- Total structure area: 1,103
- Total interior livable area: 1,103 sqft
Kitchen
- Features: Formica Counters,Pantry,Plank Flooring,Vinyl Flooring,Wood Paint Cabinets
- Area: 192.3426
- Dimensions: 11.49 x 16.74
Living Room
- Features: Carpet Flooring
- Area: 191.8668
- Dimensions: 11.38 x 16.86
Primary Bathroom
- Features: Combination Shower/Tub,Formica Counters
Primary Bedroom
- Features: Carpet Flooring
- Area: 164.736
- Dimensions: 12.80 x 12.87
Property
Details
- Parcel number: R116223
Features
- Patio & porch: Covered,Patio
- Exterior features: Private Yard
Lot
- Lot size: 5,227 sqft
Parking
- Total spaces: 1
- Parking features: Attached,Driveway,Garage
- Has garage: Yes
- Attached garage spaces: 1
- Covered spaces: 1
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Hail
- Strong Wind
- Tornado
- Winter Weather
- Cold Wave
- Drought
How This Home’s Risks Compare
FEMA Declared Disasters Across Texas Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $581 | $6,972 |
| Home Insurance * | $192 | $2,304 |
| Property Taxes | $167 | $2,004 |
| Electricity | $238 | $2,859 |
| Total | $1,178 | $14,136 |
Income You'd Need if You Spent...
Texas FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-24 | Listed for sale | $115,000 |
| 2025-09-20 | Listing removed | $1,100 |
| 2025-06-03 | Listed for rent | $1,100 |
| 2024-03-21 | Listing removed | -- |
| 2024-02-29 | Listed for rent | $1,100 |
| 2018-08-03 | Listing removed | $900 |
| 2018-06-19 | Listed for rent | $900 |
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