New Build Duplex with Two 3BR
3115 - 3117 74th Street Lubbock, TX 79423
For Sale
$429,000
MULTI_FAMILY - Lubbock, TX
Property Size1,627 SF
Lot Size0.06 Acres
Price / SF$263.68
Days on Market94
Property Features for 3115 - 3117 74th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
- Parking features
- Garage
- Standard status
- Active
- APN
- R134359
- Size
- 1,627 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Description
- J F I L 18
- Tax Annual Amount
- 3847
Utilities
- Heating system
- Natural Gas
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 2023
- Building materials
- Brick
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Michael Norsworthy · License #0799136
(214) 709-3095
Added: Apr 23
Changed: Jul 18
Last Checked: Jul 25 at 5:06AM
MLS# 202605438
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.
Newly constructed duplex at 3115–3117 74th Street, built to provide two spacious, matching residences. Each unit offers a 3-bedroom, 2-bath layout with an open-concept design, washer/dryer hookups, private yard space, and an attached garage. Both sides are described as turn-key rentals, with modern finishes and a size of approximately 1,600 square feet per unit.
The property is located in Lubbock and is described as convenient to schools, parks, and shopping, with easy access to major roads. Both units are currently leased, supporting immediate income from the start of ownership.
The property is located in Lubbock and is described as convenient to schools, parks, and shopping, with easy access to major roads. Both units are currently leased, supporting immediate income from the start of ownership.
Key Highlights
- Newly built duplex at 3115‑3117 74th Street in Lubbock’s Waters neighborhood (2023 construction).
- Two 3‑bedroom, 2‑bath units, each approximately 1,600 sq ft.
- Both units currently leased at $1,550/month.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.5k | $13.80 |
| − Vacancy | −$1.5k | −$0.90 |
| EGI | $21.0k | $12.90 |
| − OpEx | −$6.3k | −$3.87 |
| NOI | $14.7k | $9.03 |
1,627 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$209.9K
$183.7K – $244.9K
NOI $14,695 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$188.5K
$164.9K – $219.9K
NOI $13,195 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$410.2K
$358.9K – $478.5K
NOI $28,712 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Newly constructed duplex offering two leased 3-bed, 2-bath units with attached garages, washer/dryer hookups, and private yards.
Where is this duplex located?
The property is located at 3115 - 3117 74th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Newly built duplex at 3115‑3117 74th Street in Lubbock’s Waters neighborhood (2023 construction).; Two 3‑bedroom, 2‑bath units, each approximately 1,600 sq ft.; Both units currently leased at $1,550/month.
