Duplex with Private
For Sale
$220,000
7801 Avenue X, Lubbock, TX 79423
Two-bedroom, two-bath property with one side leased and convenient access to dining, retail, and South Loop 289.
Property Size1,810 SF
Price / SF$121.55
Days on Market39
Property Features for 7801 Avenue X
General Information
Standard status
Active
Size
1,810 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
Reside Real Estate Co.
Listed By:
Daniel Hernandez · License #0809570
(806) 500-4003
Source:
Raftercrossrealty
Added: Aug 1
Changed: Sep 5
Last Checked: Sep 7 at 11:53AM
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 Reside Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 1978, this duplex at 7801 Avenue X offers a two-bedroom, two-bathroom configuration with one side currently leased. The property includes a one-car garage and a private backyard, while vinyl plank flooring extends throughout the residence. An open connection between the kitchen and living room supports a practical, inviting interior layout.
The property is positioned near dining and retail options with quick access to South Loop 289. Its existing duplex configuration, private outdoor space, and garage provide a straightforward residential income property format for an owner-user or investor.
The property is positioned near dining and retail options with quick access to South Loop 289. Its existing duplex configuration, private outdoor space, and garage provide a straightforward residential income property format for an owner-user or investor.
Key Highlights
- 2‑bedroom, 2‑bathroom duplex
- One side currently leased
- One‑car garage included
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
$16,348
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
7.43%
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%
$326,960
$327.0K
Cap Rate 7%
$233,543
$233.5K
Cap Rate 9%
$181,644
$181.6K
Market Conditions
NOI Build-Up for 1,810 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
$25.0K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$23.4K $12.90/SF
− OpEx
−$7.0K −$3.87/SF
NOI
$16.3K $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%
$326,960
Cap Rate 7%
$233,543
Cap Rate 9%
$181,644
Alternative Uses
Best Use
Multifamily LT 5
$233.5K
$204.4K – $272.5K
NOI $16,348 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$209.7K
$183.5K – $244.7K
NOI $14,679 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$456.3K
$399.3K – $532.4K
NOI $31,941 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
671
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 - Two-bedroom, two-bath property with one side leased and convenient access to dining, retail, and South Loop 289.
Where is this duplex located?
The property is located at 7801 Avenue X Lubbock, TX.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom duplex; One side currently leased; One‑car garage included
