Duplex Portfolio with Expansion
1304 Avenue F, Shallowater, TX 79363
For Sale
$875,000
Residential Income, Shallowater, TX
Property Size7,758 SF
Lot Size1.70 Acres
Price / SF$112.79
Days on Market97
Property Features for 1304 Avenue F
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Patio and Porch features
Fencing
Fireplace
Appliances
Lot features
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
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Building Details
Year built
Floors in Building
Number of units
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Buildings
Listing Agency:
Flatland Realty LLC
Listed By:
David Sewell · License #0409392
(806) 239-7154
Added: Aug 5
Changed: Nov 3
Last Checked: Nov 9 at 3:06AM
MLS# 202611047
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This multifamily property includes two duplexes and one triplex, totaling 7,758 square feet across the improvements. All three buildings are reported as 100% leased. The property also includes two additional lots designated for expansion, offering a larger 1.7-acre site configuration. Built in 2002, the residences feature brick veneer construction, composition roofing, central heating and cooling, ceramic tile, vinyl, and carpet flooring, along with patios and fencing. Property amenities include garages and driveways, public water, public sewer, cable availability, dishwashers, electric cooktops, and fireplaces. The property is located at 1304 Avenue F in Shallowater, Texas, within Lubbock County.
Key Highlights
- Two duplexes and one triplex included
- 100% leased multifamily property
- 7,758 square feet of property improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,071
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,401,420
$1.4M
Cap Rate 7%
$1,001,014
$1.0M
Cap Rate 9%
$778,567
$778.6K
Market Conditions
NOI Build-Up for 7,758 SF
Gross rent
$107.1K $13.80/SF
− Vacancy
−$7.0K −$0.90/SF
EGI
$100.1K $12.90/SF
− OpEx
−$30.0K −$3.87/SF
NOI
$70.1K $9.03/SF
Area
Lubbock County, 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%
$1,401,420
Cap Rate 7%
$1,001,014
Cap Rate 9%
$778,567
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.9K – $1.17M
NOI $70,071 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$898.8K
$786.5K – $1.05M
NOI $62,917 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,907 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
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Business Placement
Demographics for 79363, TX
6,259
Population
2,233
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
108.1 sq mi
ZIP Area
58
Density / Sq Mi
$93,320
Median Household Income
$45,035
Median Earnings
$1,138
Median Rent
$201,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lubbock County, TX
Properties on Market for Duplexes in Lubbock County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two duplexes and a triplex are fully leased, with two additional lots included for expansion.
Where is this duplex located?
The property is located at 1304 Avenue F Shallowater, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two duplexes and one triplex included; 100% leased multifamily property; 7,758 square feet of property improvements
