Duplex with Private
For Sale
$218,500
1915 S Loop 289, Lubbock, TX 79423
Two residential units offer three bedrooms, two full bathrooms, and a one-car garage on each side.
Property Size2,242 SF
Price / SF$97.46
Days on Market81
Property Features for 1915 S Loop 289
General Information
Standard status
Active
Size
2,242 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1997
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Aug 15
Changed: Nov 1
Last Checked: Nov 1 at 5:32AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This duplex includes two residential units, each with three bedrooms, two full bathrooms, and a one-car garage. Both sides also have private backyards, providing separate outdoor areas for the occupants. The property is served by all-electric units and includes a roof installed in 2022.
The duplex is identified with the addresses 1913 S Loop 289 and 1915 S Loop 289 in Lubbock, Texas.
The duplex is identified with the addresses 1913 S Loop 289 and 1915 S Loop 289 in Lubbock, Texas.
Key Highlights
- Two‑unit duplex identified as 1913 S Loop 289 and 1915 S Loop 289
- Each side has 3 bedrooms and 2 full bathrooms
- One‑car garage provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,183
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,660
$363.7K
Cap Rate 7%
$259,757
$259.8K
Cap Rate 9%
$202,033
$202.0K
Market Conditions
NOI Build-Up for 2,242 SF
Gross rent
$35.2K $15.72/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$33.1K $14.75/SF
− OpEx
−$14.9K −$6.64/SF
NOI
$18.2K $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%
$363,660
Cap Rate 7%
$259,757
Cap Rate 9%
$202,033
Alternative Uses
Best Use
Multifamily LT 5
$289.3K
$253.1K – $337.5K
NOI $20,250 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,183 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$565.2K
$494.6K – $659.4K
NOI $39,565 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
244
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer three bedrooms, two full bathrooms, and a one-car garage on each side.
Where is this duplex located?
The property is located at 1915 S Loop 289 Lubbock, TX.
What is the asking price?
The asking price for this property is $218,500.
What are key features of this property?
This property features: Two‑unit duplex identified as 1913 S Loop 289 and 1915 S Loop 289; Each side has 3 bedrooms and 2 full bathrooms; One‑car garage provided for each unit
