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
Description
Immediate cash flow opportunity now on market. 2 unit residential income property with tenants in place through summer 2026. Main unit is a 2 bedroom 1 bathroom home, and efficiency unit is a 1 bedroom, 1 bathroom. Total rent is $1,600 according to current lease agreements.
Home Highlights
Parking
Open Parking
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$132
Listed
8 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 Utilities: Electricity Connected, Sewer Connected |
Heating & Cooling Heating: OtherHas CoolingAir Conditioning: Ceiling Fan(s),OtherHas HeatingHeating Fuel: Other |
Gas & Electric Has Electric on Property |
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: All WeatherNot on Waterfront |
Water & Sewer Sewer: Public Sewer |
Finished Area Finished Area (above surface): 1041 Square Feet |
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Days on Market: 8 |
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Year Built Year Built: 1950 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Building Construction Materials: Vinyl SidingNot a New ConstructionNot Attached Property |
Property Information Parcel Number: R125837 |
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Price List Price: $137,000Price Per Sqft: $132 |
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MLS Status: Active |
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Direction & Address City: Lubbock |
School Information High School District: Lubbock ISD |
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Listing Agent Listing ID: 202609491 |
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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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Expense Tenant Pays: Gas, Internet, Water |
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Mls Number: 202609491Above Grade Unfinished Area: 1041 |
Last check for updates: about 9 hours ago
Listing courtesy of Mike Hagler TREC #0827224, (806) 329-8806
Brick & Loft Realty
Source: LBMLS, MLS#202609491
Also Listed on LBMLS.
Market trends in Lubbock
Last updated June 2026
Avg. sale price
$229K
$833MoM
Sale-to-List Price
98.8%
0.4%MoM
Price per sq ft
$132
$2MoM
Available listings
1536
13MoM
Price History for 2506 40th St
| Date | Price | Event | Source |
|---|---|---|---|
| 07/11/2026 | $137,000 | Listed For Sale | LBMLS #202609491 |
| 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 |
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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.
- Monterey High School
- 9-12
- Public
- 2113 Students
5/10GreatSchools RatingParent Rating AverageThough Monterey High School as a whole is not without its issues (including discipline, drugs, etc.), overall, the staff and adminstration take the time to ensure that all students feel known and cared for and are willing to listen to and account for the desires, complaints, and opinions of its student body. The homework as an honors student can be excessive, but teachers are commonly understanding of students' situation and are willing to ensure each student's success. Many of the issues throughout tbe school earn quick and typically effective response, and commonly stem from a lack of funding and staff. If you choose to attend Monterey, be ready to get involved, especially in programs like its PLTW Pre-Engineering program (led by the amazing Scott Houy and Jessica Lara who will support students in every situation and motivate them for success), the Floyd Honey Chapter of the National Honor Society, MHS Leading Ladies, FCCLA, Chick-fil-A Leadership Academy, Student Council, and the many advanced-level courses offered at the school for the best experience. Students that fail to succeed often fail to become involved and keep in touch with athletic and other events happening throughout the school, including consistent conversation with counselors (like the amazing Kristen Lewis) and attendance clerks. It is important that as a student you get to know the administative staff, and your teachers - students are almost always safe to talk to faculty at Monterey, even if they are not involved in your activities or classes. I will acknowledge that there are issues within some organizations/activities regarding students' desire participate under the leadership, including Band, Tennis, Orchestra, Cheer, etc. I will also acknowlege that there have recently been staffing issues, especially in the Sciences (mainly Physics) and a few other areas. I know this has been somewhat of a run-on discussing various aspects of attending Monterey, but overall, it is a great school, with dedicated teachers and administration, a variety of programs, and the potential for success that make Monterey High School one of the best, if not the best, of all high schools in Lubbock. I would give the school a 7/10.Student Review3y ago - Atkins Middle School
- 6-8
- Public
- 433 Students
3/10GreatSchools RatingParent Rating Average
No reviews available for this school. - Slaton Middle School
- 6-8
- Public
- 321 Students
2/10GreatSchools RatingParent Rating Averagethis school tase kid if they ask a question and if they get it wrong they get tased again and my son hesten ross he got tased and is in shock so do something or im suingParent Review1y ago - Wheelock Elementary School
- PK-5
- Public
- 343 Students
4/10GreatSchools RatingParent Rating AverageN/ATeacher Review17y ago 
Check out schools near 2506 40th St.
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.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Mike Hagler, Brick & Loft Realty
Agent Phone: (806) 329-8806
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.
2506 40th St, Lubbock, TX 79413 is a 3 bedroom, 2 bathroom, 1,041 sqft multi-family built in 1950. 2506 40th St is located in Wheelock & Monterey, Lubbock. This property is currently available for sale and was listed by LBMLS on Jul 11, 2026. The MLS # for this home is MLS# 202609491.