2123 21st Street, Lubbock, TX 79411
For Sale
New
$175,000
Residential Income, Lubbock, TX
Property Size1,816 SF
Lot Size0.16 Acres
Price / SF$96.37
Days on Market2
Property Features for 2123 21st Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Interior features
Exterior features
Fencing
Appliances
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Additional Structures
Listing Agency:
Brick & Loft Realty
(806) 999-0722
Listed By:
Travis Turner · License TX #0660475
(806) 577-2508
Added: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 202615226
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.
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Investment Insights
Based on property information with market context.
This 1,816-square-foot triplex occupies a 0.16-acre parcel and received a full remodel in 2024. The property is configured for three residences and includes vinyl flooring, storage, ceiling fans, a fenced private yard, and covered carport parking. Electric-range appliances are also present.
Located near Texas Tech, the property is zoned Apartment A-1 and all three units are leased. The building dates to 1929.
Located near Texas Tech, the property is zoned Apartment A-1 and all three units are leased. The building dates to 1929.
Key Highlights
- Three units, all currently leased
- Full property remodel completed in 2024
- Apartment A‑1 zoning; suitable for triplex use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,728
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,560
$294.6K
Cap Rate 7%
$210,400
$210.4K
Cap Rate 9%
$163,644
$163.6K
Market Conditions
NOI Build-Up for 1,816 SF
Gross rent
$28.5K $15.72/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$26.8K $14.75/SF
− OpEx
−$12.0K −$6.64/SF
NOI
$14.7K $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 Rate 5%
$294,560
Cap Rate 7%
$210,400
Cap Rate 9%
$163,644
Alternative Uses
Best Use
Multifamily LT 5
$234.3K
$205.0K – $273.4K
NOI $16,402 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$210.4K
$184.1K – $245.5K
NOI $14,728 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$457.8K
$400.6K – $534.1K
NOI $32,047 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
3
Residential units
100%
Occupancy
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
$85,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Lubbock, TX
Properties on Market for Triplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - All three units are leased, and the property carries Apartment A-1 zoning.
Where is this triplex located?
The property is located at 2123 21st Street Lubbock, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Three units, all currently leased; Full property remodel completed in 2024; Apartment A‑1 zoning; suitable for triplex use
