Three-Bedroom Duplex
For Sale
$348,648
2217 15th St, Lubbock, TX 79401
Each residence includes a three-bedroom, three-bathroom layout within a two-unit residential income property.
Property Size3,497 SF
Price / SF$99.70
Days on Market87
Property Features for 2217 15th St
General Information
Standard status
Active
Size
3,497 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Additional Details
Gross Income
$28,800
Building Details
Year Built
2010
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Aug 9
Changed: Nov 1
Last Checked: Nov 1 at 5:51AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each side configured as a three-bedroom, three-bathroom residence. The property encompasses 3,497 square feet and is located at 2217 15th St in Lubbock, Texas.
The asset is being offered only as part of a larger real estate portfolio and is not available for separate purchase. Its two-unit configuration provides a straightforward format for residential income ownership.
The asset is being offered only as part of a larger real estate portfolio and is not available for separate purchase. Its two-unit configuration provides a straightforward format for residential income ownership.
Key Highlights
- Two‑unit duplex at 2217 15th St, Lubbock, TX
- Each side has 3 bedrooms and 3 bathrooms
- 3,497 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,585
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,700
$631.7K
Cap Rate 7%
$451,214
$451.2K
Cap Rate 9%
$350,944
$350.9K
Market Conditions
NOI Build-Up for 3,497 SF
Gross rent
$48.3K $13.80/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$45.1K $12.90/SF
− OpEx
−$13.5K −$3.87/SF
NOI
$31.6K $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%
$631,700
Cap Rate 7%
$451,214
Cap Rate 9%
$350,944
Alternative Uses
Best Use
Multifamily LT 5
$451.2K
$394.8K – $526.4K
NOI $31,585 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$405.1K
$354.5K – $472.7K
NOI $28,360 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$881.6K
$771.4K – $1.03M
NOI $61,712 @ 7.0% cap · market cap 17.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
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Business Placement
Demographics for 79401, TX
8,775
Population
4,813
Households
1.8
Avg Household Size
26
Median Age
26%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
3,510
Density / Sq Mi
$27,255
Median Household Income
$20,570
Median Earnings
$1,048
Median Rent
$101,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a three-bedroom, three-bathroom layout within a two-unit residential income property.
Where is this duplex located?
The property is located at 2217 15th St Lubbock, TX.
What is the asking price?
The asking price for this property is $348,648.
What are key features of this property?
This property features: Two‑unit duplex at 2217 15th St, Lubbock, TX; Each side has 3 bedrooms and 3 bathrooms; 3,497 square feet of property size
