Duplex with Open-Plan
For Sale
$160,000
119 36th St, Lubbock, TX 79404
Separate utility meters serve each residence, with tenants responsible for their own utilities.
Property Size1,500 SF
Price / SF$106.67
Days on Market11
Property Features for 119 36th St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$18,600
Average Monthly Rent
$775
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Building Details
Year Built
2018
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Oct 23
Changed: Nov 1
Last Checked: Nov 1 at 5:52AM
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.
Built in 2018, this 1,500-square-foot duplex contains two residences, each with three bedrooms, one bathroom, and an open kitchen and living area. The units are separately metered, and both are occupied under lease.
The property is located at 119 36th St in Lubbock, Texas.
The property is located at 119 36th St in Lubbock, Texas.
Key Highlights
- Two occupied residences, each under lease
- 1,500‑square‑foot duplex built in 2018
- Each unit has 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,548
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,960
$271.0K
Cap Rate 7%
$193,543
$193.5K
Cap Rate 9%
$150,533
$150.5K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$20.7K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$19.4K $12.90/SF
− OpEx
−$5.8K −$3.87/SF
NOI
$13.5K $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%
$270,960
Cap Rate 7%
$193,543
Cap Rate 9%
$150,533
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
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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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 - Separate utility meters serve each residence, with tenants responsible for their own utilities.
Where is this duplex located?
The property is located at 119 36th St Lubbock, TX.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two occupied residences, each under lease; 1,500‑square‑foot duplex built in 2018; Each unit has 3 bedrooms and 1 bathroom
