7815 Memphis Avenue, Lubbock, TX 79423
MULTI_FAMILY - Other - Lubbock, TX
- Added:
- Apr 10, 2026
- Days on Market:
- 75
- Last Refresh:
- Jun 23 at 11:06 pm
Property Features for 7815 Memphis Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2
- Parking features
- Garage
- Patio and Porch features
- Porch
- Interior features
- Walk-In Closet(s)
- Exterior features
- Private Yard
- Fencing
- Fenced
- Fireplace
- 1
- Appliances
- Dishwasher, Refrigerator, Washer/Dryer
- Standard status
- Active
- APN
- R50803
- Size
- 2,534 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- Melonie Park South N45.74'Of L 255 & S29.26'Of 254
- Tax Annual Amount
- 4342
Utilities
- Sewer type
- Public Sewer
- Heating system
- Fireplace(s), Central
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 1974
- Floors in Building
- 1
- Number of units
- 2
- 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 Apr 10, 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
- Duplex with two 2‑bed, 2‑bath units; both units are tenant occupied
- Updated Unit B (Jan 2025) with new carpet, paint, ceiling fans, and fencing
- Fireplace(s) plus central heating and central air (electric)
- In‑unit laundry hookups and appliances included: dishwasher, refrigerator, and washer/dryer
- Brick construction with composition roof; fenced yard with private yard space and porch
- Each unit includes a private 2‑car garage; public water and public sewer
Overview
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 | $35.0k | $13.80 |
| − Vacancy | −$2.3k | −$0.90 |
| EGI | $32.7k | $12.90 |
| − OpEx | −$9.8k | −$3.87 |
| NOI | $22.9k | $9.03 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.896082
- Latitude
- 33.521169
