Modern Open-Concept
For Sale
$354,900
1217 N Chicago Avenue, Lubbock, TX 79416
2020-built duplex with open-concept layout, luxury vinyl plank flooring, and a modern kitchen with granite countertops.
Days on Market167
Property Features for 1217 N Chicago Avenue
General Information
Standard status
Active
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
2,942 SF
Year Built
2020
Listing Agency:
WestMark Companies
(806) 441-3613
Listed By:
Kristi Sherrard · License #0746574
(806) 441-3613
Source:
Lubbockhomemarket
Added: Feb 15
Changed: Jul 31
Last Checked: Aug 1 at 12:39PM
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 WestMark Companies
Investment Insights
Based on property information with market context.
This 2020-built duplex offers an open-concept interior designed for everyday comfort and easy living. Luxury vinyl plank flooring runs throughout the home, complemented by a fresh, modern kitchen featuring granite countertops, a large island, and a pantry.
The layout includes nice-size bedrooms and two full baths, providing practical space for day-to-day routines. The overall configuration supports flexible use across the duplex while maintaining a cohesive, contemporary look from room to room.
Ideal for an owner seeking a duplex to add to a rental or portfolio strategy, the property is set up with well-finished interiors and straightforward functionality throughout the main living areas, kitchen, and bathrooms.
The layout includes nice-size bedrooms and two full baths, providing practical space for day-to-day routines. The overall configuration supports flexible use across the duplex while maintaining a cohesive, contemporary look from room to room.
Ideal for an owner seeking a duplex to add to a rental or portfolio strategy, the property is set up with well-finished interiors and straightforward functionality throughout the main living areas, kitchen, and bathrooms.
Key Highlights
- Open‑concept duplex layout
- Luxury vinyl plank flooring throughout
- Modern kitchen with granite countertops, large island, and pantry
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 | $40.6k | $13.80 |
| − Vacancy | −$2.6k | −$0.90 |
| EGI | $38.0k | $12.90 |
| − OpEx | −$11.4k | −$3.87 |
| NOI | $26.6k | $9.03 |
2,942 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$379.6K
$332.2K – $442.9K
NOI $26,572 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$741.7K
$649.0K – $865.3K
NOI $51,918 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
146
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 - 2020-built duplex with open-concept layout, luxury vinyl plank flooring, and a modern kitchen with granite countertops.
Where is this duplex located?
The property is located at 1217 N Chicago Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Open‑concept duplex layout; Luxury vinyl plank flooring throughout; Modern kitchen with granite countertops, large island, and pantry
