Modern Duplex
For Sale
$349,900
1621 133rd St, Lubbock, TX 79423
Turnkey duplex features two three-bedroom, two-bath units, each with a one-car garage, with tenants in place.
Property Size3,052 SF
Price / SF$114.65
Days on Market96
Property Features for 1621 133rd St
General Information
Standard status
Active
Size
3,052 SF
Property subtype
Multi-Family
Building Details
Year Built
2021
Listing Agency:
WestMark Companies
Listed By:
Kristi Sherrard · License #0746574
(806) 441-3613
Source:
Raftercrossrealty
Added: Jul 20
Changed: Oct 16
Last Checked: Oct 7 at 1:28PM
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
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Investment Insights
Based on property information with market context.
This turnkey duplex offers two modern sides, each laid out with three bedrooms and two bathrooms, plus a one-car garage. Interior finishes include granite countertops, fresh neutral paint, and luxury vinyl plank flooring. Exterior amenities include turf in both the front and backyard areas.
Both sides are currently occupied by tenants, supporting an investor-friendly setup for buyers seeking a leased property. The duplex is located in Lubbock-Cooper.
Overall, the property provides a duplex configuration with consistent unit layouts and in-place tenancy, along with exterior turf intended to reduce maintenance needs.
Both sides are currently occupied by tenants, supporting an investor-friendly setup for buyers seeking a leased property. The duplex is located in Lubbock-Cooper.
Overall, the property provides a duplex configuration with consistent unit layouts and in-place tenancy, along with exterior turf intended to reduce maintenance needs.
Key Highlights
- 2021‑built modern duplex in Lubbock‑Cooper with two 3‑bedroom, 2‑bath units
- Each side includes a one‑car garage
- Both units are currently tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,566
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,320
$551.3K
Cap Rate 7%
$393,800
$393.8K
Cap Rate 9%
$306,289
$306.3K
Market Conditions
NOI Build-Up for 3,052 SF
Gross rent
$42.1K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$39.4K $12.90/SF
− OpEx
−$11.8K −$3.87/SF
NOI
$27.6K $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 Rate 5%
$551,320
Cap Rate 7%
$393,800
Cap Rate 9%
$306,289
Alternative Uses
Best Use
Multifamily LT 5
$393.8K
$344.6K – $459.4K
NOI $27,566 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$353.6K
$309.4K – $412.5K
NOI $24,752 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$769.4K
$673.2K – $897.7K
NOI $53,859 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex features two three-bedroom, two-bath units, each with a one-car garage, with tenants in place.
Where is this duplex located?
The property is located at 1621 133rd St Lubbock, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2021‑built modern duplex in Lubbock‑Cooper with two 3‑bedroom, 2‑bath units; Each side includes a one‑car garage; Both units are currently tenant‑occupied
