Duplex with Separate Utility
For Sale
$135,000
113 36th St, Lubbock, TX 79404
Two matching residential units offer separately metered utilities with tenant-paid service.
Property Size1,500 SF
Price / SF$90
Days on Market55
Property Features for 113 36th St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
2018
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Sep 9
Changed: Nov 1
Last Checked: Nov 1 at 5:42AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This duplex contains two matching residential units with a combined 1,500 square feet of living area. Each unit includes three bedrooms and one bathroom, creating a straightforward two-unit configuration. Built in 2018, the property presents newer construction and both sides are described as being in good condition.
Separate utility meters serve the units, allowing tenants to cover their own utilities. The property is located in East Lubbock at 113 36th St, Lubbock, TX 79404, and is offered as a residential income property.
Separate utility meters serve the units, allowing tenants to cover their own utilities. The property is located in East Lubbock at 113 36th St, Lubbock, TX 79404, and is offered as a residential income property.
Key Highlights
- Two‑unit duplex with 1,500 square feet total
- Each unit has 3 bedrooms and 1 bathroom
- Built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,165
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,300
$243.3K
Cap Rate 7%
$173,786
$173.8K
Cap Rate 9%
$135,167
$135.2K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$23.6K $15.72/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$22.1K $14.75/SF
− OpEx
−$10.0K −$6.64/SF
NOI
$12.2K $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 Rate 5%
$243,300
Cap Rate 7%
$173,786
Cap Rate 9%
$135,167
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 19.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
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Business Placement
Demographics for 79404, TX
9,956
Population
4,289
Households
2.3
Avg Household Size
38
Median Age
13%
College-Educated
73%
High-School Grad
28.5 sq mi
ZIP Area
349
Density / Sq Mi
$48,642
Median Household Income
$30,654
Median Earnings
$958
Median Rent
$86,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residential units offer separately metered utilities with tenant-paid service.
Where is this duplex located?
The property is located at 113 36th St Lubbock, TX.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,500 square feet total; Each unit has 3 bedrooms and 1 bathroom; Built in 2018
