One-Story Duplex Income
For Sale
$369,900
1107 N Englewood Ave, Lubbock, TX 79416
Clean one-story duplex with two roomy 3-bedroom units, one leased month-to-month and one vacant.
Property Size2,890 SF
Price / SF$127.99
Days on Market100
Property Features for 1107 N Englewood Ave
General Information
Standard status
Active
Size
2,890 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2021
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Trusted Adviso
Listed By:
Linda Day · License #0331596
(806) 470-2499
Source:
Raftercrossrealty
Added: Jul 21
Changed: Oct 26
Last Checked: Oct 7 at 2:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Trusted Adviso
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Investment Insights
Based on property information with market context.
One-story duplex offering two spacious sides, each laid out as a 3/2/2. The property is described as nice and clean, “feels like new,” with each unit designed to function independently.
The duplex is conveniently located to shopping, the medical district, and Texas Tech University.
Side B is leased on a month-to-month basis, and Side A is vacant as of October 11, 2024.
The duplex is conveniently located to shopping, the medical district, and Texas Tech University.
Side B is leased on a month-to-month basis, and Side A is vacant as of October 11, 2024.
Key Highlights
- One‑story duplex built in 2021
- Two roomy 3‑bedroom units with a 3/2/2 layout on each side
- Side B is leased on a month‑to‑month basis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,103
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,060
$522.1K
Cap Rate 7%
$372,900
$372.9K
Cap Rate 9%
$290,033
$290.0K
Market Conditions
NOI Build-Up for 2,890 SF
Gross rent
$39.9K $13.80/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$37.3K $12.90/SF
− OpEx
−$11.2K −$3.87/SF
NOI
$26.1K $9.03/SF
Area
Lubbock, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,060
Cap Rate 7%
$372,900
Cap Rate 9%
$290,033
Alternative Uses
Best Use
Multifamily LT 5
$372.9K
$326.3K – $435.1K
NOI $26,103 @ 7.0% cap · market cap 7.06%
Second Best
Apartment 5plus
$334.8K
$293.0K – $390.6K
NOI $23,438 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$728.6K
$637.5K – $850.0K
NOI $51,000 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
102
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Clean one-story duplex with two roomy 3-bedroom units, one leased month-to-month and one vacant.
Where is this duplex located?
The property is located at 1107 N Englewood Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: One‑story duplex built in 2021; Two roomy 3‑bedroom units with a 3/2/2 layout on each side; Side B is leased on a month‑to‑month basis
