Lubbock Income Property: Brick
4425 31st Street Lubbock, TX 79410
4425 31st Street, Lubbock, TX, 79410
$179,000
Pending
For Sale
$179,000
Pending
MULTI_FAMILY - Other - Lubbock, TX
Property Size2,003 SF
Lot Size0.22 Acres
Days on Market64
Property Features for 4425 31st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4
- Parking features
- Carport, Off Street
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Formica Counters
- Fencing
- Fenced
- Appliances
- Dishwasher
- Standard status
- Pending
- APN
- R40481
- Size
- 2,003 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Description
- Bender Terrace L 13
- Tax Annual Amount
- 2891
Utilities
- Heating system
- Central, Natural Gas
- Cooling system
- Central Air, Ceiling Fan(s), Electric
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl, Wood
- 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# 202606554
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-unit income property features two 2-bedroom, 1-bathroom layouts. The brick duplex has been updated with modern flooring, paint, and fixtures. It is located in a high-demand rental pocket near Covenant Health and the 34th Street retail corridor. The units are consistently leased due to the central location and proximity to major employment hubs. The property, situated on a 0.22-acre lot, offers 2003 square feet of space. It is a reliable asset for any long-term investment strategy and consistently rents at $885 a side. The property is located in Lubbock, Texas.
Key Highlights
- Brick duplex built in 1960 with two 2‑bedroom, 1‑bathroom units
- Consistently leased—rents reported at $885 per side
- Central heating with natural gas; central air plus ceiling fans
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 - Updated duplex near Covenant Health, ideal for long-term investment.
Where is this duplex located?
The property is located at 4425 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: Brick duplex built in 1960 with two 2‑bedroom, 1‑bathroom units; Consistently leased—rents reported at $885 per side; Central heating with natural gas; central air plus ceiling fans
