2021 Duplex with Private
New
For Sale
$350,000
1915 Langford Avenue, Lubbock, TX 79407
Residential Income, Lubbock, TX
Property Size3,008 SF
Lot Size0.16 Acres
Price / SF$116.36
Days on Market3
Property Features for 1915 Langford Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2
Parking features
Driveway, Garage
Interior features
Breakfast Bar, Ceiling Fan(s), Eat-in Kitchen, Granite Counters, High Ceilings, High Speed Internet, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s)
Exterior features
Private Yard
Appliances
Dishwasher, Disposal, Electric Range, Microwave
Lot features
City Lot
Elementary school
Willow Bend
Middle school
Terra Vista
High school
Frenship
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
7
Standard status
Active
APN
R341155
Size
3,008 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
19th & Mackey L 18
Tax Annual Amount
7208
Legal Description
19th & Mackey L 18
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
zero-scape landscaping
private backyard
Building Details
Year built
2021
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick, Stone
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Dianna Romans · License #0595636
(806) 789-0899
Added: Sep 10
Last Checked: Sep 12 at 5:06AM
MLS# 202612605
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.
Built in 2021, this duplex contains 3,008 square feet across two residences. Each side offers 3 bedrooms, 2 bathrooms, open-concept living areas, an eat-in kitchen with granite counters, a kitchen island, pantry, and walk-in closets. Both units also include a 1-car garage, central air, electric heating, and private backyard space with low-maintenance landscaping. Brick and stone construction, vinyl flooring, ceiling fans, and included appliances complete the interiors.
The property is located in Lubbock near Oakridge Elementary, Terra Vista Middle School, and Frenship High School. Unit A is leased for a year, while Unit B is occupied under a month-to-month arrangement. Public water and sewer serve the property, and the 0.16-acre site includes driveway parking and private yards for both residences.
The property is located in Lubbock near Oakridge Elementary, Terra Vista Middle School, and Frenship High School. Unit A is leased for a year, while Unit B is occupied under a month-to-month arrangement. Public water and sewer serve the property, and the 0.16-acre site includes driveway parking and private yards for both residences.
Key Highlights
- Duplex built in 2021 with 3,008 square feet
- Each residence includes 3 bedrooms, 2 bathrooms, and a 1‑car garage
- Unit A has a year‑long lease; Unit B is leased month‑to‑month
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
$27,169
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
7.76%
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%
$543,380
$543.4K
Cap Rate 7%
$388,129
$388.1K
Cap Rate 9%
$301,878
$301.9K
Market Conditions
NOI Build-Up for 3,008 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
$41.5K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$38.8K $12.90/SF
− OpEx
−$11.6K −$3.87/SF
NOI
$27.2K $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%
$543,380
Cap Rate 7%
$388,129
Cap Rate 9%
$301,878
Alternative Uses
Best Use
Multifamily LT 5
$388.1K
$339.6K – $452.8K
NOI $27,169 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$348.5K
$304.9K – $406.6K
NOI $24,395 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$758.3K
$663.5K – $884.7K
NOI $53,083 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two recently built residences offer open-plan interiors, private yards, and individual garages near local schools.
Where is this duplex located?
The property is located at 1915 Langford Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Duplex built in 2021 with 3,008 square feet; Each residence includes 3 bedrooms, 2 bathrooms, and a 1‑car garage; Unit A has a year‑long lease; Unit B is leased month‑to‑month
