Brick Duplex with Rear-Entry
For Sale
$259,000
912 N Bangor Avenue, Lubbock, TX 79416
MULTI_FAMILY - Other - Lubbock, TX
Property Size2,732 SF
Lot Size0.19 Acres
Price / SF$94.80
Days on Market49
Property Features for 912 N Bangor Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 5, Bathroom 5, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 6
Parking features
Open
Fencing
Fenced
Appliances
Dishwasher, Electric Range, Refrigerator
Lot features
Back Yard, City Lot, Front Yard
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
8
Standard status
Active
APN
R303567
Size
2,732 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
Lynnwood L 71
Tax Annual Amount
4454
Legal Description
Lynnwood L 71
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
2004
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
United Realty, LLC
(432) 230-3000
Listed By:
LaDonna Sanchez · License #0841544
(575) 408-1525
Added: Jul 10
Changed: Aug 10
Last Checked: Aug 27 at 12:06PM
MLS# 202609470
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 brick duplex built in 2004 offers two matching units, each with three bedrooms and three full bathrooms. Both units feature a 2-car rear-entry garage and a private fenced backyard. Interior finishes include tile and carpet. The home is equipped with central air with electric heating, and the roof is a composition shingle roof. Appliances listed include a dishwasher, electric range, and refrigerator, and the property is served by public sewer.
The property sits on a 0.19-acre lot and totals 2,732 square feet. It is located in North Lubbock near Texas Tech University, Lubbock Christian University, and area hospitals. Each unit is currently vacant until its scheduled move-in date.
Unit A has a scheduled move-in date of July 17, 2026, and Unit B has a scheduled move-in date of July 15, 2026, providing leases in place for the upcoming occupancy windows.
The property sits on a 0.19-acre lot and totals 2,732 square feet. It is located in North Lubbock near Texas Tech University, Lubbock Christian University, and area hospitals. Each unit is currently vacant until its scheduled move-in date.
Unit A has a scheduled move-in date of July 17, 2026, and Unit B has a scheduled move-in date of July 15, 2026, providing leases in place for the upcoming occupancy windows.
Key Highlights
- Brick duplex built in 2004
- Two units: each has 3 bedrooms and 3 full bathrooms
- 2‑car rear‑entry garage plus private fenced backyard for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,156
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$443,120
$443.1K
Cap Rate 7%
$316,514
$316.5K
Cap Rate 9%
$246,178
$246.2K
Market Conditions
NOI Build-Up for 2,732 SF
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.
Gross rent
$42.9K $15.72/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$40.3K $14.75/SF
− OpEx
−$18.1K −$6.64/SF
NOI
$22.2K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$443,120
Cap Rate 7%
$316,514
Cap Rate 9%
$246,178
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.5K – $411.3K
NOI $24,676 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$316.5K
$277.0K – $369.3K
NOI $22,156 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$688.7K
$602.7K – $803.5K
NOI $48,212 @ 7.0% cap · market cap 18.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 79416, TX
36,251
Population
16,094
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,129
Density / Sq Mi
$65,200
Median Household Income
$34,258
Median Earnings
$1,269
Median Rent
$196,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained brick duplex built in 2004 with fenced backyards, central electric HVAC, and leases scheduled to begin in July 2026.
Where is this duplex located?
The property is located at 912 N Bangor Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Brick duplex built in 2004; Two units: each has 3 bedrooms and 3 full bathrooms; 2‑car rear‑entry garage plus private fenced backyard for each unit
