Updated Duplex with Renovated
For Sale
$145,000
2117 35th St, Lubbock, TX 79412
Both duplex units have been recently renovated, with Unit A operating on a month-to-month lease.
Property Size1,310 SF
Price / SF$110.69
Days on Market95
Property Features for 2117 35th St
General Information
Standard status
Active
Size
1,310 SF
Property subtype
Multi-Family
Building Details
Year Built
1956
Listing Agency:
Progressive Properties
Listed By:
Josh Barrett · License #0776750
(806) 401-6153
Source:
Raftercrossrealty
Added: Jul 28
Changed: Oct 25
Last Checked: Oct 7 at 3:07PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
2117 35th St presents a renovated duplex with two updated units designed for current living or rental use. Both Unit A and Unit B have been recently renovated, giving the property a refreshed look and feel. Unit A is currently occupied on a month-to-month lease, supporting immediate rental activity. Unit B is expected to be vacant prior to closing, providing flexibility for a new owner to move in or lease it after purchase.
The duplex is 1,310 SF and was built in 1956. With two separate units under one roof and renovated interiors, the property can fit an owner-occupant strategy or an investor approach seeking diversified rental potential from a single asset.
The duplex is 1,310 SF and was built in 1956. With two separate units under one roof and renovated interiors, the property can fit an owner-occupant strategy or an investor approach seeking diversified rental potential from a single asset.
Key Highlights
- Recently renovated duplex with two updated units
- Unit A occupied on a month‑to‑month lease
- Unit B will be vacant prior to closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,832
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$236,640
$236.6K
Cap Rate 7%
$169,029
$169.0K
Cap Rate 9%
$131,467
$131.5K
Market Conditions
NOI Build-Up for 1,310 SF
Gross rent
$18.1K $13.80/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$16.9K $12.90/SF
− OpEx
−$5.1K −$3.87/SF
NOI
$11.8K $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%
$236,640
Cap Rate 7%
$169,029
Cap Rate 9%
$131,467
Alternative Uses
Best Use
Multifamily LT 5
$169.0K
$147.9K – $197.2K
NOI $11,832 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$151.8K
$132.8K – $177.1K
NOI $10,624 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$330.3K
$289.0K – $385.3K
NOI $23,118 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 79412, TX
14,834
Population
6,480
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
4,636
Density / Sq Mi
$47,306
Median Household Income
$29,233
Median Earnings
$964
Median Rent
$117,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both duplex units have been recently renovated, with Unit A operating on a month-to-month lease.
Where is this duplex located?
The property is located at 2117 35th St 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: Recently renovated duplex with two updated units; Unit A occupied on a month‑to‑month lease; Unit B will be vacant prior to closing
