Rented Duplex Investment
326 37th Street Lubbock, TX 79404
326 37th Street, Lubbock, TX, 79404
$180,000
For Sale
$180,000
MULTI_FAMILY - Other - Lubbock, TX
Property Size1,500 SF
Lot Size0.14 Acres
Price / SF$120
Days on Market179
Property Features for 326 37th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 1
- Rooms
- Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
- Security features
- Security System
- Window features
- Blinds, Double Pane Windows
- Interior features
- Ceiling Fan(s)
- Standard status
- Active
- APN
- R331070
- Size
- 1,500 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- Putty Ross Blk 1 L 20B
- Tax Annual Amount
- 2608
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Ceiling Fan(s), Central Air
- Water source
- Public
Building Details
- Year built
- 2017
- Number of units
- 2
- Flooring type
- Laminate
- Building materials
- Board & Batten Siding
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
Legendary Dreams Realty, Inc.
(806) 239-6441
7207 N CR 1440, Shallowater, TX
Listed by
Kyle Watts · License #0505515
(806) 239-6441
Added: Jan 21 Checked: Jul 19 at 12:06 am
MLS# 202601280
Listing URL
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 duplex investment property includes two units, labeled A and B, with both units currently rented. The listing indicates Unit A and Unit B are each paying $950 per month. With a compact lot size and a total property size of 1,500 square feet, the building is positioned as a manageable, owner-operator or investor hold.
The property is located at 326 37th Street in Lubbock, Texas 79404, in Lubbock County. The listing also notes the option to purchase as part of a packaged deal that includes two additional units: 215 36th A & B and 217 36th A & B. For buyers seeking to add more homes in a related set, that structure may simplify acquisition.
For investors, the immediate occupancy of both duplex units can be a key consideration when looking for a property already generating rental income. For owner-users, the duplex format supports a two-unit living and renting approach, while still maintaining a clear, single-building scope. Interested parties should contact the listing agent for more information and to confirm details for Units A and B.
The property is located at 326 37th Street in Lubbock, Texas 79404, in Lubbock County. The listing also notes the option to purchase as part of a packaged deal that includes two additional units: 215 36th A & B and 217 36th A & B. For buyers seeking to add more homes in a related set, that structure may simplify acquisition.
For investors, the immediate occupancy of both duplex units can be a key consideration when looking for a property already generating rental income. For owner-users, the duplex format supports a two-unit living and renting approach, while still maintaining a clear, single-building scope. Interested parties should contact the listing agent for more information and to confirm details for Units A and B.
Key Highlights
- 2017‑built property with 2 units (Units A & B) currently rented for $950/month
- Central air cooling with electric heating; ceiling fans included
- Laminate flooring and board & batten siding
Local 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 | $20.7k | $13.80 |
| − Vacancy | −$1.3k | −$0.90 |
| EGI | $19.4k | $12.90 |
| − OpEx | −$5.8k | −$3.87 |
| NOI | $13.5k | $9.03 |
1,500 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with two units currently rented, offering an income-producing setup for a straightforward ownership experience.
Where is this duplex located?
The property is located at 326 37th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 2017‑built property with 2 units (Units A & B) currently rented for $950/month; Central air cooling with electric heating; ceiling fans included; Laminate flooring and board & batten siding
