Brick Duplex with Attached
2340 78th Street, Lubbock, TX 79423
For Sale
$215,000
Pending
Residential Income, Lubbock, TX
Property Size2,251 SF
Lot Size0.15 Acres
Days on Market58
Property Features for 2340 78th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Fireplace
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
Building materials
Listing Agency:
Wise Cardinal Realty
(806) 782-5303
Listed By:
Clay Grossman · License TX #0812815
(806) 828-0736
Added: Sep 14
Changed: Oct 29
Last Checked: Nov 10 at 10:06PM
MLS# 202612798
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
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Located at 2340 78th Street in Lubbock, this 2,251-square-foot duplex contains two matching residences. Each unit provides two bedrooms, two bathrooms, and an attached single-car garage, creating a four-bedroom, four-bath configuration across the property. The building was constructed in 2001 with brick exterior construction and includes a fireplace.
The 0.15-acre property sits on a cul-de-sac in South Lubbock. Both units are currently occupied and rented. Central heating, central air conditioning, and garage parking serve the two residences.
The 0.15-acre property sits on a cul-de-sac in South Lubbock. Both units are currently occupied and rented. Central heating, central air conditioning, and garage parking serve the two residences.
Key Highlights
- Two‑unit duplex with matching 2‑bedroom, 2‑bath layouts
- 2,251 square feet on a 0.15‑acre lot
- Each residence includes an attached single‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,255
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,100
$365.1K
Cap Rate 7%
$260,786
$260.8K
Cap Rate 9%
$202,833
$202.8K
Market Conditions
NOI Build-Up for 2,251 SF
Gross rent
$35.4K $15.72/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$33.2K $14.75/SF
− OpEx
−$14.9K −$6.64/SF
NOI
$18.3K $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%
$365,100
Cap Rate 7%
$260,786
Cap Rate 9%
$202,833
Alternative Uses
Best Use
Multifamily LT 5
$290.4K
$254.1K – $338.9K
NOI $20,331 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$260.8K
$228.2K – $304.3K
NOI $18,255 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 18.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
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Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lubbock, TX
Properties on Market for Duplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residential units offer matching layouts with attached garage parking and central heating and cooling.
Where is this duplex located?
The property is located at 2340 78th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit duplex with matching 2‑bedroom, 2‑bath layouts; 2,251 square feet on a 0.15‑acre lot; Each residence includes an attached single‑car garage
