Turnkey Duplex Investment
For Sale
$349,000
9801 Uvalde Ave, Lubbock, TX 79423
Turnkey duplex with two attached garages and separate unit layouts, with both units currently occupied by tenants.
Property Size2,949 SF
Price / SF$118.35
Days on Market24
Property Features for 9801 Uvalde Ave
General Information
Standard status
Active
Size
2,949 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
2016
Listing Agency:
Southern Magnolia Real Estate
(361) 816-3661
Listed By:
Tomas Rodriguez · License #0787075
Source:
Raftercrossrealty
Added: Jul 21
Changed: Jul 22
Last Checked: Aug 12 at 9:50AM
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 Southern Magnolia Real Estate
Investment Insights
Based on property information with market context.
This turnkey duplex features two separate residential units with functional floor plans and attached garages for each unit. Unit A offers two bedrooms and two bathrooms with a two-car garage. Unit B offers three bedrooms and two bathrooms with a two-car garage. Both units are currently occupied by tenants, supporting straightforward operations for a new owner.
The property is located on a quiet cul-de-sac block, which can help limit through-traffic.
As a residential income property, this duplex is designed for day-one income with a tenant-in-place configuration.
The property is located on a quiet cul-de-sac block, which can help limit through-traffic.
As a residential income property, this duplex is designed for day-one income with a tenant-in-place configuration.
Key Highlights
- Turnkey duplex built in 2016 with both units currently occupied by tenants
- Unit A offers 2 bedrooms, 2 bathrooms, and a 2‑car attached garage
- Unit B offers 3 bedrooms, 2 bathrooms, and a 2‑car attached garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,636
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$532,720
$532.7K
Cap Rate 7%
$380,514
$380.5K
Cap Rate 9%
$295,956
$296.0K
Market Conditions
NOI Build-Up for 2,949 SF
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.
Gross rent
$40.7K $13.80/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$38.1K $12.90/SF
− OpEx
−$11.4K −$3.87/SF
NOI
$26.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$532,720
Cap Rate 7%
$380,514
Cap Rate 9%
$295,956
Alternative Uses
Best Use
Multifamily LT 5
$380.5K
$333.0K – $443.9K
NOI $26,636 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.6K
NOI $23,916 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$743.5K
$650.5K – $867.4K
NOI $52,042 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
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 - Turnkey duplex with two attached garages and separate unit layouts, with both units currently occupied by tenants.
Where is this duplex located?
The property is located at 9801 Uvalde Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Turnkey duplex built in 2016 with both units currently occupied by tenants; Unit A offers 2 bedrooms, 2 bathrooms, and a 2‑car attached garage; Unit B offers 3 bedrooms, 2 bathrooms, and a 2‑car attached garage
