Modern Duplex Near Texas
5506 Itasca Street Lubbock, TX 79416
5506 Itasca Street, Lubbock, TX, 79416
$375,000
For Sale
$375,000
MULTI_FAMILY - Lubbock, TX
Property Size3,054 SF
Lot Size0.17 Acres
Price / SF$122.79
Days on Market264
Property Features for 5506 Itasca Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bathroom 7, Bedroom 3, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 9, Bathroom 8, Bathroom 4, Bedroom 2
- Parking features
- Driveway, Alley, Garage
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Granite Counters, Kitchen Island, Storage, Walk-In Closet(s)
- Exterior features
- Private Yard
- Fencing
- Fenced
- Appliances
- Dishwasher, Microwave, Refrigerator, Stainless Steel Appliance(s)
- Standard status
- Active
- APN
- R337366
- Size
- 3,054 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- Lincoln 16 L 169
- Tax Annual Amount
- 6977
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2021
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Brick Veneer, Concrete
- Roof type
- Composition
- Additional Structures
- Storage
Listing Agency
Keller Williams Realty
(806) 771-7710
10210 Quaker Ave, Lubbock, TX
Listed by
Han Li · License #0739511
(864) 353-9731
Added: Oct 31, 2025 Updated: Jul 18 at 8:35 am Checked: Jul 21 at 12:06 am
MLS# 202562490
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, constructed in 2021, features six bedrooms and six bathrooms and is situated in the Northwest neighborhood of Lubbock. The property offers approximately 3,054 square feet of modern living space, blending contemporary design with practical comfort. Inside, the open-plan living area is filled with natural light and features vinyl flooring. The gourmet kitchen is equipped with granite countertops and stainless-steel appliances. Each unit includes a convenient attached two-car garage, providing ample storage and off-street parking. One unit is currently rented until July 31st, 2026, with a monthly rent of $1,500. The property is located minutes from Texas Tech University, major shopping centers, and the medical district, making it a potentially attractive investment opportunity.
Key Highlights
- 6‑bedroom, 6‑bath duplex built in 2021 with approximately 3,054 SF of modern living space
- Kitchen features granite counters, kitchen island, and stainless‑steel appliances (dishwasher, microwave, refrigerator)
- Vinyl flooring throughout with ceiling fans, central heating, and central air conditioning
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 | $42.1k | $13.80 |
| − Vacancy | −$2.7k | −$0.90 |
| EGI | $39.4k | $12.90 |
| − OpEx | −$11.8k | −$3.87 |
| NOI | $27.6k | $9.03 |
3,054 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$394.1K
$344.8K – $459.7K
NOI $27,584 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$353.8K
$309.6K – $412.8K
NOI $24,768 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$769.9K
$673.7K – $898.3K
NOI $53,895 @ 7.0% cap · market cap 14.37%
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 - Six-bedroom duplex in Northwest Lubbock, near Texas Tech University.
Where is this duplex located?
The property is located at 5506 Itasca Street Lubbock, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 6‑bedroom, 6‑bath duplex built in 2021 with approximately 3,054 SF of modern living space; Kitchen features granite counters, kitchen island, and stainless‑steel appliances (dishwasher, microwave, refrigerator); Vinyl flooring throughout with ceiling fans, central heating, and central air conditioning
