Lubbock Duplex Ready For
5508 Itasca Street Lubbock, TX 79416
5508 Itasca Street, Lubbock, TX, 79416
$385,000
For Sale
$385,000
MULTI_FAMILY - Lubbock, TX
Property Size3,079 SF
Lot Size0.17 Acres
Price / SF$125.04
Days on Market99
Property Features for 5508 Itasca Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bathroom 3, Bedroom 4, Bathroom 6, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 5, Bedroom 6, Bedroom 1
- Parking features
- Garage
- Fencing
- Fenced
- Appliances
- Dishwasher, Microwave
- Standard status
- Active
- APN
- R337367
- Size
- 3,079 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- LINCOLN 16 L 170
- Tax Annual Amount
- 6739
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 2021
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Brick
- Roof type
- Composition
Listing Agency
Keller Williams Realty
(806) 771-7710
10210 Quaker Ave, Lubbock, TX
Listed by
Han Li · License #0739511
(864) 353-9731
Added: Apr 14 Updated: Jul 18 at 8:35 am Checked: Jul 21 at 12:06 am
MLS# 202604881
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, located in Lubbock, Texas, is suitable for both seasoned and new investors. The property features a bright and spacious interior. The property size is 3,079 square feet and the lot size is 0.17 acres. Unit B mirrors the appearance of Unit A, as depicted in the provided images when it was vacant. The property is located in the 79416 postal code area of Lubbock County.
Key Highlights
- Duplex built in 2021 with brick construction
- Central air cooling with central and electric (heating) systems
- Composition roof
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 | $42.5k | $13.80 |
| − Vacancy | −$2.8k | −$0.90 |
| EGI | $39.7k | $12.90 |
| − OpEx | −$11.9k | −$3.87 |
| NOI | $27.8k | $9.03 |
3,079 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$397.3K
$347.6K – $463.5K
NOI $27,810 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$356.7K
$312.1K – $416.2K
NOI $24,971 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$776.2K
$679.2K – $905.6K
NOI $54,336 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex in Lubbock, TX, ideal for investors or homeowners.
Where is this duplex located?
The property is located at 5508 Itasca Street Lubbock, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Duplex built in 2021 with brick construction; Central air cooling with central and electric (heating) systems; Composition roof
