Two-Unit Duplex with
New
For Sale
$125,000
1924 26th Street, Lubbock, TX 79411
MULTI_FAMILY - Lubbock, TX
Property Size1,352 SF
Lot Size0.14 Acres
Price / SF$92.46
Days on Market2
Property Features for 1924 26th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Driveway, Off Street
Appliances
Electric Range
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
2
Standard status
Active
APN
R28753
Size
1,352 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Wallace Blk 1 L 2
Tax Annual Amount
2287
Legal Description
Wallace Blk 1 L 2
Utilities
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1949
Floors in Building
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
ERA Newlin & Company
(325) 481-0500
Listed By:
Mackenzie Siler · License #0807776
(806) 781-2062
Added: Aug 10
Last Checked: Aug 11 at 8:06PM
MLS# 202611102
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 1,352-square-foot duplex was built in 1949 on a 0.14-acre lot. Each residence includes one bedroom, one bathroom, hardwood flooring, a dining area, a kitchen with substantial cabinet storage, and an electric range. Vinyl siding, composition roofing, wall-furnace heating, window or wall-unit cooling, and ceiling fans serve the property. Driveway and off-street parking are included.
The property is located at 1924 26th Street in Lubbock, near Lubbock High School, Texas Tech University, and the Medical District. Both units are currently leased, with one lease extending through April 2027 and the other through July 2027.
The property is located at 1924 26th Street in Lubbock, near Lubbock High School, Texas Tech University, and the Medical District. Both units are currently leased, with one lease extending through April 2027 and the other through July 2027.
Key Highlights
- Duplex contains 1,352 square feet on a 0.14‑acre lot
- Two 1‑bedroom, 1‑bath units with hardwood floors and dining areas
- Both units currently leased through April 2027 and July 2027
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
$10,965
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
8.77%
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%
$219,300
$219.3K
Cap Rate 7%
$156,643
$156.6K
Cap Rate 9%
$121,833
$121.8K
Market Conditions
NOI Build-Up for 1,352 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
$21.3K $15.72/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$19.9K $14.75/SF
− OpEx
−$9.0K −$6.64/SF
NOI
$11.0K $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 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%
$219,300
Cap Rate 7%
$156,643
Cap Rate 9%
$121,833
Alternative Uses
Best Use
Multifamily LT 5
$174.4K
$152.6K – $203.5K
NOI $12,211 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$156.6K
$137.1K – $182.8K
NOI $10,965 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 79411, TX
7,297
Population
3,474
Households
2.1
Avg Household Size
31
Median Age
22%
College-Educated
72%
High-School Grad
1.5 sq mi
ZIP Area
4,865
Density / Sq Mi
$44,866
Median Household Income
$24,493
Median Earnings
$942
Median Rent
$85,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, with separate one-bedroom, one-bath layouts and off-street parking.
Where is this duplex located?
The property is located at 1924 26th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Duplex contains 1,352 square feet on a 0.14‑acre lot; Two 1‑bedroom, 1‑bath units with hardwood floors and dining areas; Both units currently leased through April 2027 and July 2027
