Updated Duplex with Off-Street
For Sale
$185,000
1812 15th Street, Lubbock, TX 79401
Residential Income, Lubbock, TX
Property Size1,888 SF
Lot Size0.19 Acres
Price / SF$97.99
Days on Market98
Property Features for 1812 15th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4
Parking features
Off Street
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
1
Standard status
Active
APN
R137496
Size
1,888 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
Overton Blk 14 W/2 Of L 6 & 7
Tax Annual Amount
2708
Legal Description
Overton Blk 14 W/2 Of L 6 & 7
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1948
Building materials
Stucco
Roof type
Composition
Listing Agency:
The 32:18 Management Group
(806) 319-1021
Listed By:
Chris Carter · License #0817825
(806) 500-5599
Added: Jul 16
Changed: Oct 9
Last Checked: Oct 21 at 11:06PM
MLS# 202609796
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 updated duplex contains 1,888 square feet with two separate residences, each offering two bedrooms and one bathroom. Together, the property provides four bedrooms and two bathrooms. Central heating and central air serve both sides, while off-street parking supports the residential layout. Stucco construction, a composition roof, and a 1948 build date further define the improvements.
The property occupies 0.19 acres at 1812 15th Street in Lubbock, Texas, near Texas Tech. Tenants pay their own utilities, and the duplex is configured as two comparable two-bedroom, one-bath residences. The combination of separate living spaces, on-site parking, and central mechanical systems provides a straightforward multifamily format.
The property occupies 0.19 acres at 1812 15th Street in Lubbock, Texas, near Texas Tech. Tenants pay their own utilities, and the duplex is configured as two comparable two-bedroom, one-bath residences. The combination of separate living spaces, on-site parking, and central mechanical systems provides a straightforward multifamily format.
Key Highlights
- Two‑residence duplex with 1,888 square feet
- Each side has 2 bedrooms and 1 bathroom
- Total of 4 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,312
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,240
$306.2K
Cap Rate 7%
$218,743
$218.7K
Cap Rate 9%
$170,133
$170.1K
Market Conditions
NOI Build-Up for 1,888 SF
Gross rent
$29.7K $15.72/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$27.8K $14.75/SF
− OpEx
−$12.5K −$6.64/SF
NOI
$15.3K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,240
Cap Rate 7%
$218,743
Cap Rate 9%
$170,133
Alternative Uses
Best Use
Multifamily LT 5
$243.6K
$213.2K – $284.2K
NOI $17,053 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$218.7K
$191.4K – $255.2K
NOI $15,312 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$476.0K
$416.5K – $555.3K
NOI $33,318 @ 7.0% cap · market cap 18.01%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,438
Businesses Nearby
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Business Placement
Demographics for 79401, TX
8,775
Population
4,813
Households
1.8
Avg Household Size
26
Median Age
26%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
3,510
Density / Sq Mi
$27,255
Median Household Income
$20,570
Median Earnings
$1,048
Median Rent
$101,500
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 - Each residence includes central heating and air conditioning for year-round climate control.
Where is this duplex located?
The property is located at 1812 15th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑residence duplex with 1,888 square feet; Each side has 2 bedrooms and 1 bathroom; Total of 4 bedrooms and 2 bathrooms
