Fully Leased Duplex With Two
5523 Itasca St Lubbock, TX 79416
New
5523 Itasca St, Lubbock, TX, 79416
$370,000
For Sale
$370,000
Duplex includes two fully leased units, each with three bedrooms, three bathrooms, and a two-car garage.
Property Size2,842 SF
Price / SF$130.19
Days on Market3
Property Features for 5523 Itasca St
General Information
- Standard status
- Active
- Size
- 2,842 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2021
Listing agency
ALL Real Estate, LLC
(806) 543-6095
Listed by
Amy Cox · License #0667992
Source
Raftercrossrealty
Added: Jul 20 Updated: Jul 21 at 10:57AM Checked: Jul 21 at 10:57AM
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 ALL Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex offers two separate residential units, with each unit featuring three bedrooms and three bathrooms. Each unit also includes a two-car garage, providing dedicated parking for residents.
The property is listed for sale as a fully leased income-producing asset, with the intent of generating rental income from both units.
Overall, the building is configured as a two-unit duplex with matching bedroom and bathroom layouts and in-unit two-car garages for each side.
The property is listed for sale as a fully leased income-producing asset, with the intent of generating rental income from both units.
Overall, the building is configured as a two-unit duplex with matching bedroom and bathroom layouts and in-unit two-car garages for each side.
Key Highlights
- Duplex built in 2021 with two units
- Fully leased: both units are generating rental income
- Each unit offers 3 bedrooms and 3 bathrooms
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 | $39.2k | $13.80 |
| − Vacancy | −$2.5k | −$0.90 |
| EGI | $36.7k | $12.90 |
| − OpEx | −$11.0k | −$3.87 |
| NOI | $25.7k | $9.03 |
2,842 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$366.7K
$320.9K – $427.8K
NOI $25,669 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$329.3K
$288.1K – $384.1K
NOI $23,048 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$716.5K
$626.9K – $835.9K
NOI $50,153 @ 7.0% cap · market cap 13.55%
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 - Duplex includes two fully leased units, each with three bedrooms, three bathrooms, and a two-car garage.
Where is this duplex located?
The property is located at 5523 Itasca St Lubbock, TX.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Duplex built in 2021 with two units; Fully leased: both units are generating rental income; Each unit offers 3 bedrooms and 3 bathrooms
