2506 40th St, Lubbock, TX 79413
Property image
Property image
SOLD
OCT 17, 2025

2506 40th St
Lubbock, TX 79413

Wheelock & Monterey
  • 3 Beds
  • 2 Baths
  • 1,041 sqft
3 Beds
2 Baths
1,041 sqft

Local Information

  • Map ViewExplore the area around 2506 40th St.
  • Schools1 Preschool School1 Elementary School2 Middle Schools1 High School
  • Shop & Eat
-- mins to
Commute Destination

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!
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

Interior Features

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

Exterior Features

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

Days on Market

Cumulative Days on Market: 37

Property Information

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

Price & Status

Price
List Price: $137,000
Status Change & Dates
Off Market Date: Thu Oct 02 2025

Active Status

MLS Status: Closed

Location

Direction & Address
City: Lubbock
School Information
High School District: Lubbock ISD

Building

Building Area
Building Area: 1041 Square Meters

Lot Information

Lot Area: 7840.8 sqft

Offer

Listing Terms: Cash, Conventional

Miscellaneous

Mls Number: 202559596Above Grade Unfinished Area: 1041
Last check for updates: about 8 hours 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

DatePriceEventSource
10/17/2025--Sold
LBMLS #202559596
10/03/2025$137,000PendingLBMLS #202559596
09/23/2025$137,000PriceChange
LBMLS #202559596
08/26/2025$140,000Listed For SaleLBMLS #202559596
07/22/2025$1,000ListingRemovedZillow Rentals
07/14/2025$1,000Listed For RentZillow Rentals
03/08/2024ListingRemovedZillow Rentals
02/27/2024$950Listed For RentZillow Rentals

Market trends in Lubbock

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$230K
$4.33K
MoM
Sale-to-List Price
98.4%
0.1%
MoM
Price per sq ft
$130
$2
MoM
Available listings
1545
15
MoM
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Property Tax and Assessment

Year2025
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

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Assigned Schools

These are the assigned schools for 2506 40th St.
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

Neighborhood Overview

Neighborhood stats provided by third party data sources.

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.
  • Trulia User
    "People are walking their dogs in this neighborhood all day long. It is fun to see the “regulars” out and about. Everyone is very neighborly. "
  • Trulia User
    "People just let their dogs go out on their own. People speed down the street without paying attention."
  • Candice C. C.
    "Great neighborhood, nice friendly neighbors. College students mostly, very active. Always something going on in this neighborhood. Helpful people."
  • Jennifer N.
    "The older homes that ate all unique in the way they were built. none of the older homes are alike. They aldo have vig and well maintained yards."

LGBTQ Local Legal Protections

Apartments for Rent

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Homes for sale near 2506 40th St

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Off Market Homes Near 2506 40th St

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IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.