Lubbock Duplex Near Medical
4423 31st Street Lubbock, TX 79410
4423 31st Street, Lubbock, TX, 79410
$179,000
For Sale
$179,000
MULTI_FAMILY - Other - Lubbock, TX
Property Size2,003 SF
Lot Size0.22 Acres
Price / SF$89.37
Days on Market64
Property Features for 4423 31st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 2
- Parking features
- Off Street, Carport
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Formica Counters
- Fencing
- Fenced
- Appliances
- Dishwasher
- Standard status
- Active
- APN
- R40459
- Size
- 2,003 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Description
- Bender Terrace L 12
- Tax Annual Amount
- 2891
Utilities
- Heating system
- Natural Gas, Central
- Cooling system
- Ceiling Fan(s), Electric, Central Air
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
Keller Williams Realty
(806) 771-7710
10210 Quaker Ave, Lubbock, TX
Listed by
Cole Whisenhunt · License #0641534
(806) 438-7987
Added: May 15 Checked: Jul 17 at 7:06 am
MLS# 202606555
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 2,003 square foot duplex, consisting of two units (Sides A & B), is an excellent multi-family investment opportunity. Each unit features two bedrooms and one bathroom, along with a dedicated carport and essential appliances. The property is located near the Medical District and Maxey Park, offering a strong location with high walkability scores and proximity to Texas Tech University. The lot size is 0.22 acres. This property is suited for a 1031 exchange or investors seeking diversified income in a stable, central neighborhood. The monthly rent is $885 for side A and $885 for side B. The leases are in place through June 30, 2026 for side A and July 31, 2026 for side B.
Key Highlights
- 2,003 SF duplex built in 1960 with 2 units (Sides A & B), each offering 2 bedrooms and 1 bathroom
- Monthly rent is $885 per side ($1,770 total), with leases in place through 06/30/2026 (side A) and 07/31/2026 (side B)
- Each unit includes a dedicated carport, plus essential appliances and a fenced property
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 | $31.5k | $15.72 |
| − Vacancy | −$2.0k | −$0.97 |
| EGI | $29.5k | $14.75 |
| − OpEx | −$13.3k | −$6.64 |
| NOI | $16.2k | $8.11 |
2,003 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$258.4K
$226.1K – $301.5K
NOI $18,091 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$232.1K
$203.1K – $270.7K
NOI $16,244 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$505.0K
$441.8K – $589.1K
NOI $35,347 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit duplex near Medical District and Maxey Park.
Where is this duplex located?
The property is located at 4423 31st Street Lubbock, TX.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 2,003 SF duplex built in 1960 with 2 units (Sides A & B), each offering 2 bedrooms and 1 bathroom; Monthly rent is $885 per side ($1,770 total), with leases in place through 06/30/2026 (side A) and 07/31/2026 (side B); Each unit includes a dedicated carport, plus essential appliances and a fenced property
