Triplex with Oversized One-Car
For Sale
$475,000
1625 County Rd 7340, Lubbock, TX 79423
MULTI_FAMILY - Other - Lubbock, TX
Property Size4,490 SF
Lot Size0.60 Acres
Price / SF$105.79
Days on Market219
Property Features for 1625 County Rd 7340
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 5, Bedroom 3, Bedroom 1
Parking features
Garage
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s)
Appliances
Dishwasher, Electric Oven, Electric Range, Microwave
Elementary school
Lubbock-Cooper East
Middle school
Lubbock-Cooper Bush
High school
Cooper
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
6
Standard status
Active
APN
R353955
Size
4,490 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Description
Blk E Sec 15 AB 39 TR R6B AC: .603
Tax Annual Amount
5993
Legal Description
Blk E Sec 15 AB 39 TR R6B AC: .603
Utilities
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Building Details
Year built
2021
Number of units
3
Building materials
Metal Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
WestMark Companies
(806) 794-6000
Listed By:
Danny Clark · License #0621740
(806) 787-6138
Added: Jan 5
Changed: Aug 2
Last Checked: Aug 12 at 1:06PM
MLS# 202600108
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.
Investment Insights
Based on property information with market context.
This newer triplex offers three residential units with spacious layouts. Unit A and Unit B are one-bedroom homes with one and a half baths, and each includes an oversized one-car garage. Unit C features three bedrooms and two full baths. All three units have a laundry room and a back patio, supporting day-to-day convenience. Interior highlights include ceiling fans and walk-in closets, and the homes include appliances such as a dishwasher, electric oven, electric range, and microwave.
Built in 2021, the property is constructed with metal siding and has a metal roof. Heating is natural gas with central heating, and cooling is electric central air.
The offering includes a total lot size of 0.6 acres and approximately 4,490 square feet of property size. Parking is provided in garages, and the homes’ exterior includes patio space.
Built in 2021, the property is constructed with metal siding and has a metal roof. Heating is natural gas with central heating, and cooling is electric central air.
The offering includes a total lot size of 0.6 acres and approximately 4,490 square feet of property size. Parking is provided in garages, and the homes’ exterior includes patio space.
Key Highlights
- Three‑unit triplex with laundry rooms and back patio space for all units
- Unit A and Unit B: one bedroom, one and a half baths, plus oversized one‑car garages
- Unit C: three bedrooms with two full baths
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
$40,554
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
8.54%
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%
$811,080
$811.1K
Cap Rate 7%
$579,343
$579.3K
Cap Rate 9%
$450,600
$450.6K
Market Conditions
NOI Build-Up for 4,490 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
$62.0K $13.80/SF
− Vacancy
−$4.0K −$0.90/SF
EGI
$57.9K $12.90/SF
− OpEx
−$17.4K −$3.87/SF
NOI
$40.6K $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%
$811,080
Cap Rate 7%
$579,343
Cap Rate 9%
$450,600
Alternative Uses
Best Use
Multifamily LT 5
$579.3K
$506.9K – $675.9K
NOI $40,554 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.13M
$990.5K – $1.32M
NOI $79,236 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
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?
Triplex - Newer 2021 triplex with three units, each with laundry and back patio space.
Where is this triplex located?
The property is located at 1625 County Rd 7340 Lubbock, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three‑unit triplex with laundry rooms and back patio space for all units; Unit A and Unit B: one bedroom, one and a half baths, plus oversized one‑car garages; Unit C: three bedrooms with two full baths
