Leased Duplex Income
209 36th Street Lubbock, TX 79404
209 36th Street, Lubbock, TX, 79404
$145,000
For Sale
$145,000
MULTI_FAMILY - Other - Lubbock, TX
Property Size1,500 SF
Lot Size0.14 Acres
Price / SF$96.67
Days on Market29
Property Features for 209 36th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 5, Bedroom 2
- Parking features
- Parking Lot
- Window features
- Blinds
- Patio and Porch features
- Patio, Porch
- Interior features
- Ceiling Fan(s), Formica Counters
- Appliances
- Electric Oven, Refrigerator
- Standard status
- Active
- APN
- R53705
- Size
- 1,500 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- PUTTY ROSS BLK 1 L 2A1
- Tax Annual Amount
- 3384
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2018
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Wood Siding
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
eXp Realty LLC
(888) 519-7431
5605 N MacArthur Blvd 10th Flr, Austin, TX
Listed by
Karisa Langley · License #0698012
(806) 781-7054
Added: Jun 19 Checked: Jul 17 at 8:06 pm
MLS# 202608433
Listing URL
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 duplex includes two separate residential units, each featuring three bedrooms and one bathroom. Both units have an open kitchen and living area layout, providing a functional, straightforward floor plan for everyday living. The property is offered for sale with the units currently leased, supporting immediate occupancy as part of the purchase.
Located in Lubbock, Texas (79404) in Lubbock County, the site sits on approximately 0.14 acres. The listing is also described as available as a separate purchase or as part of a package deal.
For buyers seeking a small multi-family investment with active tenants in place, this property offers a direct path to rental income from day one, based on the stated current leases. Each unit’s similar 3-bedroom/1-bath configuration may appeal to tenants looking for comparable layouts within the same property. If you are evaluating additional holdings, the listing notes the duplex can be acquired separately or together with another specified address to align with a broader portfolio strategy.
Located in Lubbock, Texas (79404) in Lubbock County, the site sits on approximately 0.14 acres. The listing is also described as available as a separate purchase or as part of a package deal.
For buyers seeking a small multi-family investment with active tenants in place, this property offers a direct path to rental income from day one, based on the stated current leases. Each unit’s similar 3-bedroom/1-bath configuration may appeal to tenants looking for comparable layouts within the same property. If you are evaluating additional holdings, the listing notes the duplex can be acquired separately or together with another specified address to align with a broader portfolio strategy.
Key Highlights
- Duplex built in 2018 with both units leased for total rent of $1500/mo
- Each unit features 3 bedrooms and 1 bathroom with an open kitchen/living area layout
- Central heating and central air conditioning
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.6k | $15.72 |
| − Vacancy | −$1.5k | −$0.97 |
| EGI | $22.1k | $14.75 |
| − OpEx | −$10.0k | −$6.64 |
| NOI | $12.2k | $8.11 |
1,500 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex with two leased three-bedroom units, offering immediate rental income for income-focused buyers.
Where is this duplex located?
The property is located at 209 36th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Duplex built in 2018 with both units leased for total rent of $1500/mo; Each unit features 3 bedrooms and 1 bathroom with an open kitchen/living area layout; Central heating and central air conditioning
