Two-Unit Duplex
215 36th St Lubbock, TX 79404
New
For Sale
$180,000
Duplex with two rented units, labeled A and B, providing current monthly income.
Property Size1,500 SF
Price / SF$120
Days on Market5
Property Features for 215 36th St
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2018
Listing Agency:
Legendary Dreams Realty, Inc.
(806) 239-6441
Listed By:
Kyle Watts · License #0505515
Source:
Raftercrossrealty
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 23 at 5:20AM
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 Legendary Dreams Realty, Inc.
Investment Insights
Based on property information with market context.
This two-unit duplex includes Unit A and Unit B, both currently occupied. Unit A is rented for $1,000 per month, and Unit B is rented for $950 per month. The property is offered for sale and can be purchased with the sellers’ additional units listed in the remarks.
The duplex is located at 215 36th St in Lubbock, Texas. The remarks note that it may be acquired together with 217 36th A&B and 326 37th A&B.
If you’re looking for a straightforward residential income asset with two existing rental households in place, this duplex is set up for immediate tenancy through the current lease status of both units.
The duplex is located at 215 36th St in Lubbock, Texas. The remarks note that it may be acquired together with 217 36th A&B and 326 37th A&B.
If you’re looking for a straightforward residential income asset with two existing rental households in place, this duplex is set up for immediate tenancy through the current lease status of both units.
Key Highlights
- Duplex built in 2018 with two rental units, labeled A and B
- Unit A currently rented for $1,000 per month
- Unit B currently rented for $950 per month
Financial Insights For Multifamily LT 5
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 | $20.7k | $13.80 |
| − Vacancy | −$1.3k | −$0.90 |
| EGI | $19.4k | $12.90 |
| − OpEx | −$5.8k | −$3.87 |
| NOI | $13.5k | $9.03 |
1,500 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two rented units, labeled A and B, providing current monthly income.
Where is this duplex located?
The property is located at 215 36th St Lubbock, TX.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Duplex built in 2018 with two rental units, labeled A and B; Unit A currently rented for $1,000 per month; Unit B currently rented for $950 per month
