Duplex with Private
For Sale
$375,000
1915 Langford Avenue, Lubbock, TX 79407
MULTI_FAMILY - Lubbock, TX
Property Size3,008 SF
Lot Size0.16 Acres
Price / SF$124.67
Days on Market50
Property Features for 1915 Langford Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1
Parking features
Garage, Driveway
Interior features
Breakfast Bar, Ceiling Fan(s), Eat-in Kitchen, Granite Counters, High Ceilings, High Speed Internet, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s)
Exterior features
Private Yard
Appliances
Dishwasher, Disposal, Electric Range, Microwave
Lot features
City Lot
Elementary school
Willow Bend
Middle school
Terra Vista
High school
Frenship
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
7
Standard status
Active
APN
R341155
Size
3,008 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
19th & Mackey L 18
Tax Annual Amount
7208
Legal Description
19th & Mackey L 18
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
zero-scape landscaping
private backyard
Building Details
Year built
2021
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick, Stone
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Dianna Romans · License #0595636
(806) 789-0899
Added: Jun 24
Changed: Aug 2
Last Checked: Aug 12 at 5:06PM
MLS# 202608626
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.
This 2021-built duplex offers two separate living spaces, each with an open floorplan and three bedrooms with two bathrooms, along with a one-car garage and a private yard. Interior features include an eat-in kitchen with granite counters, kitchen island, pantry, walk-in closets, high ceilings, ceiling fans, and high-speed internet, with electric heating and central air. Appliances include a dishwasher, disposal, electric range, and microwave. Construction is brick and stone, with vinyl flooring throughout.
The property is on public water and public sewer and includes a driveway and garage parking. Both units are currently rented, with Unit A on a year-long lease and Unit B on a flexible month-to-month basis.
Minutes away from Oakridge Elementary, Terra Vista Middle School, and Frenship High School, the duplex is positioned for steady residential income and straightforward day-to-day ownership.
The property is on public water and public sewer and includes a driveway and garage parking. Both units are currently rented, with Unit A on a year-long lease and Unit B on a flexible month-to-month basis.
Minutes away from Oakridge Elementary, Terra Vista Middle School, and Frenship High School, the duplex is positioned for steady residential income and straightforward day-to-day ownership.
Key Highlights
- 2021‑built duplex with brick and stone construction
- Two units, each with three bedrooms and two bathrooms
- Each unit includes a one‑car garage and open floorplan
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
$27,169
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
7.25%
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%
$543,380
$543.4K
Cap Rate 7%
$388,129
$388.1K
Cap Rate 9%
$301,878
$301.9K
Market Conditions
NOI Build-Up for 3,008 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
$41.5K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$38.8K $12.90/SF
− OpEx
−$11.6K −$3.87/SF
NOI
$27.2K $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%
$543,380
Cap Rate 7%
$388,129
Cap Rate 9%
$301,878
Alternative Uses
Best Use
Multifamily LT 5
$388.1K
$339.6K – $452.8K
NOI $27,169 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$348.5K
$304.9K – $406.6K
NOI $24,395 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$758.3K
$663.5K – $884.7K
NOI $53,083 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
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?
Duplex - 2021-built duplex with open-concept units, each featuring three bedrooms and a one-car garage, plus a private yard.
Where is this duplex located?
The property is located at 1915 Langford Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2021‑built duplex with brick and stone construction; Two units, each with three bedrooms and two bathrooms; Each unit includes a one‑car garage and open floorplan
