3508 42nd Street, Lubbock, TX 79413
MULTI_FAMILY - Other - Lubbock, TX
- Added:
- Jun 18, 2026
- Days on Market:
- 6
- Last Refresh:
- Jun 23 at 10:06 pm
Property Features for 3508 42nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1
- Parking
- 1
- Parking features
- Garage
- Window features
- Storm Window(s)
- Patio and Porch features
- Patio
- Interior features
- Bookcases, Breakfast Bar, Ceiling Fan(s), Formica Counters
- Fencing
- Fenced
- Appliances
- Dishwasher, Disposal, Microwave
- Standard status
- Active
- APN
- R119093
- Size
- 1,963 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Description
- Slaton Myrtle Blk 8 E20'of 16& W40'of 17
- Tax Annual Amount
- 3886
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1954
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Hardwood, Tile, Carpet
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing agent Dianna Romans License #0595636 (806) 789-0899
Listing office Keller Williams Realty 10210 Quaker Ave, Lubbock, TX (806) 771-7710
Listing date Jun 18, 2026
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.
HighLights
- Year built 1954 brick home with central heating (natural gas) and central air
- Interior features include breakfast bar, ceiling fans, and Formica counters
- Hardwood, tile, and carpet flooring throughout; includes appliances such as dishwasher, disposal, and microwave
- Garage parking plus patio and fenced outdoor area
- Plumbing and hot water improvements reported: new hot water heater, new gas lines, plumbing upgrades
- Public utilities available: public water and public sewer; roof is composition
Overview
The property is located in Lubbock, Texas, and is described as centrally located and close to Texas Tech. Public remarks also note that it is one of the only homes in the area with a third bathroom, which may be useful for certain household and roommate setups.
For investors or owner-operators, the combination of an ADU and a tenant already in place can support an income-focused strategy from day one. The documented capital improvements may also help reduce immediate maintenance concerns, while the property’s layout offers flexibility for renters seeking more than one bathroom and an additional space on the same parcel.
Local Financial Insights For Apartment 5plus
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 | $30.9k | $15.72 |
| − Vacancy | −$1.9k | −$0.97 |
| EGI | $28.9k | $14.75 |
| − OpEx | −$13.0k | −$6.64 |
| NOI | $15.9k | $8.11 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.890793
- Latitude
- 33.556337
