Updated Duplex with Rental
For Sale
$200,000
2104 22nd St, Lubbock, TX 79411
One side is occupied, while the other is vacant for an incoming resident or owner-occupant.
Property Size1,885 SF
Price / SF$106.10
Days on Market59
Property Features for 2104 22nd St
General Information
Standard status
Active
Size
1,885 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1962
Listing Agency:
Progressive Properties
Listed By:
Josh Barrett · License #0776750
(806) 401-6153
Source:
Raftercrossrealty
Added: Sep 4
Changed: Oct 25
Last Checked: Oct 15 at 3:10AM
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 Progressive Properties
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Investment Insights
Based on property information with market context.
This duplex in Lubbock offers two separate residential units with one currently occupied and the other available for a new resident or owner-occupant. The property has received recent kitchen and bathroom improvements in both units, along with replacement HVAC systems, water heaters, and roofing.
Built in 1962, the property is located at 2104 22nd St in Lubbock, Texas. The existing occupancy provides rental income from one side, while the vacant unit offers flexibility for personal use or new leasing. The 1,885 property size supports a compact two-unit residential configuration.
Built in 1962, the property is located at 2104 22nd St in Lubbock, Texas. The existing occupancy provides rental income from one side, while the vacant unit offers flexibility for personal use or new leasing. The 1,885 property size supports a compact two-unit residential configuration.
Key Highlights
- Two‑unit duplex with one occupied unit and one vacant unit
- Recent replacement of HVAC systems, water heaters, and roof
- Both kitchens and bathrooms have received recent updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,026
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,520
$340.5K
Cap Rate 7%
$243,229
$243.2K
Cap Rate 9%
$189,178
$189.2K
Market Conditions
NOI Build-Up for 1,885 SF
Gross rent
$26.0K $13.80/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$24.3K $12.90/SF
− OpEx
−$7.3K −$3.87/SF
NOI
$17.0K $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 Rate 5%
$340,520
Cap Rate 7%
$243,229
Cap Rate 9%
$189,178
Alternative Uses
Best Use
Multifamily LT 5
$243.2K
$212.8K – $283.8K
NOI $17,026 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$218.4K
$191.1K – $254.8K
NOI $15,287 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$475.2K
$415.8K – $554.4K
NOI $33,265 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One side is occupied, while the other is vacant for an incoming resident or owner-occupant.
Where is this duplex located?
The property is located at 2104 22nd St Lubbock, TX.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit duplex with one occupied unit and one vacant unit; Recent replacement of HVAC systems, water heaters, and roof; Both kitchens and bathrooms have received recent updates
