2506 40th St
Lubbock, TX 79413
Wheelock & Monterey- 3 Beds
- 2 Baths
- 1,041 sqft
3 Beds
2 Baths
1,041 sqft
Local Information
-- mins to
Description
Welcome to 2506 40th Street, a versatile income-producing property in the heart of Lubbock! This gem features a 2 bed / 1 bath main house PLUS an efficiency apartment on the west side, giving you two rentable units on one lot.
Steady Cash Flow Locked In - Both units are leased through July 2026, with the main house bringing in $1,000/mo and the efficiency unit at $500/mo. That's $1,500/month guaranteed income from day one!
Shared Backyard Space - Tenants enjoy a private, fenced backyard perfect for pets, BBQs, and downtime.
Central Location - Quick access to Texas Tech, hospitals, and all the shopping/dining Lubbock has to offer, making this a high-demand rental year after year.
Whether you're looking to expand your portfolio or snag your first investment property, this one checks every box:
Dual income streams
Leases in place until mid-2026
Prime central Lubbock location
Don't wait — properties like this move fast. Schedule your showing today and lock in your next investment win!
Steady Cash Flow Locked In - Both units are leased through July 2026, with the main house bringing in $1,000/mo and the efficiency unit at $500/mo. That's $1,500/month guaranteed income from day one!
Shared Backyard Space - Tenants enjoy a private, fenced backyard perfect for pets, BBQs, and downtime.
Central Location - Quick access to Texas Tech, hospitals, and all the shopping/dining Lubbock has to offer, making this a high-demand rental year after year.
Whether you're looking to expand your portfolio or snag your first investment property, this one checks every box:
Dual income streams
Leases in place until mid-2026
Prime central Lubbock location
Don't wait — properties like this move fast. Schedule your showing today and lock in your next investment win!
2506 40th St, Lubbock, TX 79413 is a 3 bedroom, 2 bathroom, 1,041 sqft multi-family in Wheelock & Monterey, built in 1950. It last sold for the $137,000 asking price on Oct 17, 2025. More recently, it was listed as a rental in July 2025 with an asking price of $1,000 per month. That rental listing was removed on July 22, 2025. It is currently off market. The Trulia Estimate is $139,100, with a rent estimate of $1,036/month.
Home Highlights
Parking
Open Parking
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago
Home Details for 2506 40th St
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Beds & Baths Number of Bedrooms: 3Number of Bathrooms: 2Number of Bathrooms (full): 2 |
Dimensions and Layout Living Area: 1041 Square Feet |
Appliances & Utilities Laundry: Laundry Room |
Heating & Cooling Heating: OtherHas CoolingAir Conditioning: Ceiling Fan(s),OtherHas HeatingHeating Fuel: Other |
Windows, Doors, Floors & Walls Flooring: Vinyl |
Levels, Entrance, & Accessibility Floors: Vinyl |
Security Security: None |
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Exterior Home Features Roof: Composition |
Parking & Garage No Attached GarageHas Open ParkingParking: Driveway,On Street |
Frontage Road Frontage: City StreetRoad Surface Type: AsphaltNot on Waterfront |
Finished Area Finished Area (above surface): 1041 Square Feet |
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Cumulative Days on Market: 37 |
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Year Built Year Built: 1950 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Duplex, Multi Family |
Building Construction Materials: Vinyl SidingNot a New Construction |
Property Information Parcel Number: R125837 |
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Price List Price: $137,000 |
Status Change & Dates Off Market Date: Thu Oct 02 2025 |
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MLS Status: Closed |
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Direction & Address City: Lubbock |
School Information High School District: Lubbock ISD |
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Building Area Building Area: 1041 Square Meters |
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Lot Area: 7840.8 sqft |
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Listing Terms: Cash, Conventional |
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Mls Number: 202559596Above Grade Unfinished Area: 1041 |
Last check for updates: about 1 hour ago
Listed by Justin Waddell TREC #0832656, (806) 632-3725
Wise Cardinal Realty
Bought with: Mike Hagler TREC #0827224, (806) 329-8806, Brick & Loft Realty
Source: LBMLS, MLS#202559596

Price History for 2506 40th St
| Date | Price | Event | Source |
|---|---|---|---|
| 10/17/2025 | -- | Sold | LBMLS #202559596 |
| 10/03/2025 | $137,000 | Pending | LBMLS #202559596 |
| 09/23/2025 | $137,000 | PriceChange | LBMLS #202559596 |
| 08/26/2025 | $140,000 | Listed For Sale | LBMLS #202559596 |
| 07/22/2025 | $1,000 | ListingRemoved | Zillow Rentals |
| 07/14/2025 | $1,000 | Listed For Rent | Zillow Rentals |
| 03/08/2024 | ListingRemoved | Zillow Rentals | |
| 02/27/2024 | $950 | Listed For Rent | Zillow Rentals |
Market trends in Lubbock
Last updated May 2026
Avg. sale price
$230K
$4.33KMoM
Sale-to-List Price
98.4%
0.1%MoM
Price per sq ft
$130
$2MoM
Available listings
1545
15MoM
Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $1,624 |
| Assessment | $91,807 |
Home facts updated by county records
Comparable Sales for 2506 40th St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.51 | Multi-Family Home | - | 08/15/25 | 2 | 2 | 1,310 | |
0.53 | Multi-Family Home | - | 03/12/26 | 2 | 2 | 1,232 | |
0.51 | Multi-Family Home | - | 02/19/26 | 4 | 2 | 1,450 | |
0.75 | Multi-Family Home | - | 06/04/26 | 2 | 2 | 1,314 | |
0.58 | Multi-Family Home | - | 03/13/26 | 5 | 3 | 2,192 | |
0.52 | Multi-Family Home | - | 12/10/25 | 4 | 4 | 2,600 | |
0.91 | Multi-Family Home | - | 01/20/26 | 3 | 3 | 2,297 | |
0.95 | Multi-Family Home | - | 07/02/26 | 2 | 2 | 1,588 | |
1.14 | Multi-Family Home | - | 06/15/26 | 4 | 2 | 1,800 |
Nearby homes
Get a sense of prices in the area by checking nearby homes.Assigned Schools
These are the assigned schools for 2506 40th St.
What Locals Say about Wheelock & Monterey
At least 18 Trulia users voted on each feature.
100 % Say there are sidewalks
97 % Say car is needed
94 % Say parking is easy
88 % Say it's dog friendly
69 % Say yards are well-kept
60 % Say kids play outside
55 % Say there's holiday spirit
50 % Say it's walkable to restaurants
50 % Say people would walk alone at night
48 % Say neighbors are friendly
43 % Say it's quiet
35 % Say they plan to stay for at least 5 years
31 % Say it's walkable to grocery stores
31 % Say there's wildlife
29 % Say streets are well-lit
Sourced by Trulia users. Learn more about our methodology.
LGBTQ Local Legal Protections
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Apartments for Rent
Homes for sale near 2506 40th St
Off Market Homes Near 2506 40th St

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Information is deemed reliable but not guaranteed.

