Two-Unit Duplex Income
215 36th Street Lubbock, TX 79404
215 36th Street, Lubbock, TX, 79404
$180,000
For Sale
$180,000
MULTI_FAMILY - Other - Lubbock, TX
Property Size1,500 SF
Lot Size0.15 Acres
Price / SF$120
Days on Market179
Property Features for 215 36th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 1
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1
- Security features
- Security System
- Window features
- Blinds, Double Pane Windows
- Interior features
- Ceiling Fan(s)
- Standard status
- Active
- APN
- R53781
- Size
- 1,500 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- Putty Ross BLK 1 L 2C1
- Tax Annual Amount
- 1975
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Ceiling Fan(s), Central Air
- Water source
- Public
Building Details
- Year built
- 2018
- Flooring type
- Laminate
- Building materials
- Board & Batten Siding
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
Legendary Dreams Realty, Inc.
(806) 239-6441
7207 N CR 1440, Shallowater, TX
Listed by
Kyle Watts · License #0505515
(806) 239-6441
Added: Jan 20 Checked: Jul 18 at 9:06 am
MLS# 202600998
Listing URL
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.
Investment Insights
Based on property information with market context.
This property is a two-unit duplex configured as Units A and B. The current status is tenant-occupied, with Unit A rented for $1,000 per month and Unit B rented for $950 per month. The overall building size is listed as 1,500 square feet, situated on a 0.15-acre lot.
The duplex is located at 215 36th Street in Lubbock, Texas 79404, within Lubbock County. Per the listing remarks, the seller may also offer additional related units for purchase alongside this property, including 217 36th (Units A&B) and 326 37th (Units A&B).
For investors or owner-occupants looking for a manageable multifamily holding, the duplex provides two separate rental units under one roof. Because both units are already rented, it may appeal to buyers who want to step into an operating residential income situation rather than starting from vacancy. The ability to purchase the additional nearby units described in the remarks may also support buyers interested in expanding their portfolio with multiple small residential income properties.
The duplex is located at 215 36th Street in Lubbock, Texas 79404, within Lubbock County. Per the listing remarks, the seller may also offer additional related units for purchase alongside this property, including 217 36th (Units A&B) and 326 37th (Units A&B).
For investors or owner-occupants looking for a manageable multifamily holding, the duplex provides two separate rental units under one roof. Because both units are already rented, it may appeal to buyers who want to step into an operating residential income situation rather than starting from vacancy. The ability to purchase the additional nearby units described in the remarks may also support buyers interested in expanding their portfolio with multiple small residential income properties.
Key Highlights
- Two‑unit setup (Units A & B) with current rents of $1,000/mo (Unit A) and $950/mo (Unit B)
- Built in 2018 with board & batten siding and a composition roof
- Central electric heating and central air (electric)
Local 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
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with two currently rented units, offering straightforward residential income for buyers seeking a small multifamily asset.
Where is this duplex located?
The property is located at 215 36th Street 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: Two‑unit setup (Units A & B) with current rents of $1,000/mo (Unit A) and $950/mo (Unit B); Built in 2018 with board & batten siding and a composition roof; Central electric heating and central air (electric)
