Triplex with Patios and
For Sale
$475,000
1625 County Rd 7340, Lubbock, TX 79423
Residential Income, Lubbock, TX
Property Size4,490 SF
Lot Size0.60 Acres
Price / SF$105.79
Days on Market245
Property Features for 1625 County Rd 7340
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 6, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 5, Bathroom 5, Bathroom 1
Parking features
Garage
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s)
Appliances
Dishwasher, Electric Oven, Electric Range, Microwave
Elementary school
Lubbock-Cooper East
Middle school
Lubbock-Cooper Bush
High school
Cooper
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
6
Standard status
Active
APN
R353955
Size
4,490 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Description
Blk E Sec 15 AB 39 TR R6B AC: .603
Tax Annual Amount
5993
Legal Description
Blk E Sec 15 AB 39 TR R6B AC: .603
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Amenities
laundry room
back patio
Building Details
Year built
2021
Number of units
3
Building materials
Metal Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
WestMark Companies
(806) 794-6000
Listed By:
Danny Clark · License #0621740
(806) 787-6138
Added: Jan 5
Changed: Sep 3
Last Checked: Sep 7 at 2:06PM
MLS# 202600108
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2021, this triplex contains three residences totaling 4,490 square feet on a 0.6-acre parcel. Units A and B each provide one bedroom, one and a half baths, an oversized one-car garage, a laundry room, and a back patio. Unit C offers three bedrooms, two full baths, its own laundry room, and a back patio. Interior features include ceiling fans and walk-in closets, with kitchens equipped with dishwashers, electric ovens, electric ranges, and microwaves. Central heating uses natural gas, while cooling is provided by central electric air conditioning. Metal siding and a metal roof complete the improvements.
Key Highlights
- Three‑unit property with 4,490 square feet of total building area
- 0.6‑acre parcel at 1625 County Rd 7340, Lubbock, TX 79423
- Units A and B each include 1 bedroom, 1.5 baths, and an oversized 1‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,554
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$811,080
$811.1K
Cap Rate 7%
$579,343
$579.3K
Cap Rate 9%
$450,600
$450.6K
Market Conditions
NOI Build-Up for 4,490 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$62.0K $13.80/SF
− Vacancy
−$4.0K −$0.90/SF
EGI
$57.9K $12.90/SF
− OpEx
−$17.4K −$3.87/SF
NOI
$40.6K $9.03/SF
Area
Lubbock, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$811,080
Cap Rate 7%
$579,343
Cap Rate 9%
$450,600
Alternative Uses
Best Use
Multifamily LT 5
$579.3K
$506.9K – $675.9K
NOI $40,554 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.13M
$990.5K – $1.32M
NOI $79,236 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences offer varied layouts, private laundry rooms, and individual back patio space.
Where is this triplex located?
The property is located at 1625 County Rd 7340 Lubbock, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three‑unit property with 4,490 square feet of total building area; 0.6‑acre parcel at 1625 County Rd 7340, Lubbock, TX 79423; Units A and B each include 1 bedroom, 1.5 baths, and an oversized 1‑car garage
