2019 Duplex Income
11906 Evanston Avenue Lubbock, TX 79424
11906 Evanston Avenue, Lubbock, TX, 79424
$365,000
For Sale
$365,000
Built in 2019, this duplex offers two identical sides with three bedrooms and two full bathrooms each.
Property Size2,828 SF
Price / SF$129.07
Days on Market534
Property Features for 11906 Evanston Avenue
General Information
- Standard status
- Active
- Size
- 2,828 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2019
Listing agency
Keller Williams Realty
(806) 601-1444
Listed by
Matt Wolfe · License #0766624
(806) 601-1444
Source
Exitrealty
Added: Feb 4, 2025 Updated: Jul 21 at 10:44PM Checked: Jul 22 at 9:54AM
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
Investment Insights
Based on property information with market context.
Built in 2019, this duplex is configured with three spacious bedrooms and two full bathrooms on each side. Both units feature an open floor plan with tall ceilings, with tile flooring in the common areas and carpeted bedrooms.
The property is located in the highly desired Lubbock-Cooper ISD and Lubbock-Cooper Liberty HS district, in the south Frankford Ave area.
Side A has been owner-occupied and is described as being in pristine condition. Side B has had one tenant since 2019, and the listing states that both sides are under new leases, providing immediate rental income for a new owner.
The property is located in the highly desired Lubbock-Cooper ISD and Lubbock-Cooper Liberty HS district, in the south Frankford Ave area.
Side A has been owner-occupied and is described as being in pristine condition. Side B has had one tenant since 2019, and the listing states that both sides are under new leases, providing immediate rental income for a new owner.
Key Highlights
- Duplex built in 2019 with two identical sides
- Each side features 3 bedrooms and 2 full bathrooms
- Open floor plan with tall ceilings throughout
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 | $39.0k | $13.80 |
| − Vacancy | −$2.5k | −$0.90 |
| EGI | $36.5k | $12.90 |
| − OpEx | −$10.9k | −$3.87 |
| NOI | $25.5k | $9.03 |
2,828 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$364.9K
$319.3K – $425.7K
NOI $25,543 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$327.6K
$286.7K – $382.3K
NOI $22,935 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$712.9K
$623.8K – $831.8K
NOI $49,906 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Built in 2019, this duplex offers two identical sides with three bedrooms and two full bathrooms each.
Where is this duplex located?
The property is located at 11906 Evanston Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex built in 2019 with two identical sides; Each side features 3 bedrooms and 2 full bathrooms; Open floor plan with tall ceilings throughout
