Duplex with Private
New
For Sale
$370,000
2120 Langford Ave, Lubbock, TX 79407
Two-unit residential property with separate entrances, everyday living layouts, and on-site parking.
Property Size3,008 SF
Price / SF$123.01
Days on Market5
Property Features for 2120 Langford Ave
General Information
Standard status
Active
Size
3,008 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2023
Listing Agency:
AMRR Realty
Listed By:
Jennifer Busbea · License #0614398
(806) 577-7228
Source:
Raftercrossrealty
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 12 at 11:18AM
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 AMRR Realty
Investment Insights
Based on property information with market context.
Completed in 2023, this 3,008-square-foot duplex contains two residential units designed for independent occupancy. Each side has a private entrance, practical kitchen, comfortable living area, and spacious bedrooms, creating a straightforward layout for residents. Ample parking is also provided on the property.
The property is located at 2120 Langford Ave in Lubbock, Texas, with access to local shopping, dining, amenities, and major roadways. Its two-unit configuration supports separate occupancy arrangements, including the possibility of living in one unit while leasing the other, as stated in the property information.
The property is located at 2120 Langford Ave in Lubbock, Texas, with access to local shopping, dining, amenities, and major roadways. Its two-unit configuration supports separate occupancy arrangements, including the possibility of living in one unit while leasing the other, as stated in the property information.
Key Highlights
- 3,008‑square‑foot duplex completed in 2023
- Two residential units with private entrances
- Each unit includes a practical kitchen and spacious bedrooms
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
$27,169
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
7.34%
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%
$543,380
$543.4K
Cap Rate 7%
$388,129
$388.1K
Cap Rate 9%
$301,878
$301.9K
Market Conditions
NOI Build-Up for 3,008 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
$41.5K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$38.8K $12.90/SF
− OpEx
−$11.6K −$3.87/SF
NOI
$27.2K $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 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%
$543,380
Cap Rate 7%
$388,129
Cap Rate 9%
$301,878
Alternative Uses
Best Use
Multifamily LT 5
$388.1K
$339.6K – $452.8K
NOI $27,169 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$348.5K
$304.9K – $406.6K
NOI $24,395 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$758.3K
$663.5K – $884.7K
NOI $53,083 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
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Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate entrances, everyday living layouts, and on-site parking.
Where is this duplex located?
The property is located at 2120 Langford Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 3,008‑square‑foot duplex completed in 2023; Two residential units with private entrances; Each unit includes a practical kitchen and spacious bedrooms
